<PAGE> 1
EXHIBIT 12.1
FORM F-4 -- OFFER TO EXCHANGE 13 1/4% SENIOR DISCOUNT NOTES DUE 2010
FILED AUGUST 11, 2000
SUPPORTING CALCULATION FOR THE RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
TWELVE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 JUNE 30
-------------------------------------------------- ---------------------------
1996 1997 1998 1999 1999 2000
--------- --------- ----------- ------------ ----------- -------------
(UNAUDITED)
<S> <C> <C> <C> <C> <C> <C>
LOSS BEFORE TAXES AND FIXED
CHARGES
Loss before taxes............ $(251,000) $(430,000) $(2,439,000) $ (9,802,000) $(5,274,000) $(101,760,000)
Interest on long term debt... -- -- 147,000 262,000 243,000 46,743,000
Finance charges.............. -- -- -- 192,000 89,000 576,000
--------- --------- ----------- ------------ ----------- -------------
(251,000) (430,000) (2,291,000) (9,348,000) (4,942,000) (54,441,000)
FIXED CHARGES
Interest on long term debt... -- -- 147,000 262,000 243,000 46,743,000
Finance charges.............. -- -- -- 192,000 89,000 576,000
Capitalized interest......... -- -- -- 1,588,000 1,415,000 1,909,000
--------- --------- ----------- ------------ ----------- -------------
-- -- (147,000) (2,043,000) (1,747,000) (49,228,000)
--------- --------- ----------- ------------ ----------- -------------
Shortfall.................... $(251,000) $(430,000) $(2,439,000) $(11,390,000) $(6,689,000) $(103,669,000)
========= ========= =========== ============ =========== =============
<CAPTION>
PRO FORMA
FINANCIAL INFORMATION
TWELVE MONTHS ENDED
SEPTEMBER 30, 1999
---------------------
(UNAUDITED)
<S> <C>
LOSS BEFORE TAXES AND FIXED
CHARGES
Loss before taxes............ $(151,994,000)
Interest on long term debt... 111,762,000
Finance charges.............. 3,092,000
-------------
(37,140,000)
FIXED CHARGES
Interest on long term debt... 111,762,000
Finance charges.............. 3,092,000
Capitalized interest......... 1,588,000
-------------
(116,442,000)
-------------
Shortfall.................... $(153,582,000)
=============
</TABLE>
