<PAGE> 1
EXHIBIT 12
STATEMENT REGARDING COMPUTATION OF RATIOS
<TABLE>
<CAPTION>
NINE MONTHS ENDED
YEAR ENDED FEBRUARY 29 OR 28, NOVEMBER 30,
----------------------------------------------- ------------------
1996 1997 1998 1999 2000 1999 2000
------ ------ -------- -------- ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Fixed charges
-- interest expense............... $ 91 $ 220 $ 110 $ 225 $ 103 $ 155 $ 108
-- amortization of capitalized
expenses related to
indebtedness.................... -- -- -- -- -- -- 131
------ ------ -------- -------- ------- ------- --------
Total fixed charges....... $ 91 $ 220 $ 110 $ 225 $ 103 $ 155 $ 239
====== ====== ======== ======== ======= ======= ========
Earnings
Net income (loss)................. $5,075 $4,657 $(13,165) $(96,112) $(8,945) $(7,851) $(11,412)
-- fixed charges per above........ 91 220 110 225 103 155 239
------ ------ -------- -------- ------- ------- --------
Total earnings............ $5,166 $4,877 $(13,055) $(95,887) $(8,842) $(7,696) $(11,173)
====== ====== ======== ======== ======= ======= ========
Deficiency of earnings available
to cover fixed charges.......... N/A N/A $(13,165) $(96,112) $(8,945) $(7,851) $(11,412)
====== ====== ======== ======== ======= ======= ========
Ratio of earnings to fixed
charges......................... 57x 22x
====== ======
</TABLE>
