Exhibit 12.1

RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
Detail Calculation in accordance with Reg S-K Item 503(d)

         
Year Ended December 31,
 
   
Six-
Months
ended June
30, 2009
   
2008
   
2007
   
2006
   
2005
   
2004
 
                                     
Earnings
                                   
Income (loss) before income taxes and non-controlling interests
    (2,869,411 )     (2,849,376 )     (11,452,583 )     (11,708,328 )     (760,504 )     (72,391 )
Fixed Charges
    -       -       876       -       411,693       60,492  
Interest Capitalized
    -       -       -       -       -       -  
                                                 
Total earnings for computation of ratio
    (2,869,411 )     (2,849,376 )     (11,451,707 )     (11,708,328 )     (348,811 )     (11,899 )
                                                 
Fixed Charges
                                               
Interest expenses
    -       -       876       -       411,693       60,492  
Interest capitalized
    -       -       -       -       -       -  
Financing charge from early retirement benefits costs
    -       -       -       -       -       -  
Bills discounting charges
    -       -       -       -       -       -  
                                                 
Total fixed charges
    -       -       876       -       411,693       60,492  
                                                 
Earnings to Fixed Charges
    -       -       (13,073 )     -       (0.85 )     (0.20 )