v3.22.2
Condensed Consolidated Balance Sheets - USD ($)
May 31, 2022
Aug. 31, 2021
Current assets    
Cash $ 70,000 $ 1,199,000
Accounts receivable 352,000 498,000
Unbilled accounts receivable 3,470,000 2,741,000
Deposit – workers’ compensation 0 155,000
Prepaid expenses 782,000 605,000
Other current assets 95,000 126,000
Current assets of discontinued operations 0 356,000
Total current assets 4,769,000 5,680,000
Cash and marketable securities held in Trust Account (See Notes 2 and 5) 116,765,000 0
Fixed assets, net 2,898,000 2,784,000
ROU operating lease 8,209,000  
Note receivable, net 0 4,004,000
Deposits – workers’ compensation 0 386,000
Deposits and other assets 944,000 944,000
Deferred offering costs – SPACs (See Note 5) 0 48,261,000
Non-current assets of discontinued operations 0 883,000
Total assets 133,585,000 62,942,000
Current liabilities    
Accounts payable and other accrued liabilities 11,525,000 6,553,000
Payroll related liabilities 14,459,000 7,876,000
Accrued workers’ compensation costs 663,000 663,000
Current liabilities of discontinued operations 1,251,000 1,516,000
Total current liabilities 27,898,000 16,608,000
Non-current liabilities    
Operating lease liability, non-current 7,929,000  
Accrued workers’ compensation costs 1,351,000 1,646,000
Non-current liabilities of discontinued operations 3,074,000 3,765,000
Total liabilities 40,252,000 22,019,000
Commitments and contingencies
Class A common shares subject to possible redemption 11,500,000 and no shares at $10.15 per share redemption value as of May 31, 2022 and August 31, 2021 (See Notes 2 and 5) 116,725,000 0
Stockholders’ equity (deficit)    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value 0 0
Common stock, 750,000,000 authorized shares; $0.0001 par value; 38,334,873 and 25,863,099 shares issued as of May 31, 2022 and August 31, 2021   4,000 3,000
Additional paid-in capital 146,877,000 142,786,000
Accumulated deficit (179,767,000) (149,338,000)
Total ShiftPixy, Inc. Stockholders' deficit (32,886,000) (6,549,000)
Non-controlling interest in consolidated subsidiaries (See Note 5) 9,494,000 47,472,000
Total Equity (Deficit) (23,392,000) 40,923,000
Total liabilities and equity deficit $ 133,585,000 $ 62,942,000

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