v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Feb. 28, 2022
Aug. 31, 2021
Current assets    
Cash $ 3,349 $ 1,199
Accounts receivable 381 498
Unbilled accounts receivable 2,615 2,741
Deposit – workers’ compensation 36 155
Prepaid expenses 1,172 605
Other current assets 132 126
Current assets of discontinued operations 92 356
Total current assets 7,777 5,680
Cash and marketable securities held in Trust Account (See Notes 2 and 5) 116,732 0
Fixed assets, net 2,992 2,784
ROU operating lease 7,225  
Note receivable, net 4,004 4,004
Deposits – workers’ compensation 91 386
Deposits and other assets 944 944
Deferred offering costs – SPACs (See Note 5) 0 48,261
Non-current assets of discontinued operations 232 883
Total assets 139,997 62,942
Current liabilities    
Accounts payable and other accrued liabilities 9,618 6,553
Payroll related liabilities 11,173 7,876
Accrued workers’ compensation costs 597 663
Current liabilities of discontinued operations 1,291 1,516
Total current liabilities 22,679 16,608
Non-current liabilities    
Operating lease liability, non-current 6,834  
Accrued workers’ compensation costs 1,260 1,646
Non-current liabilities of discontinued operations 3,226 3,765
Total liabilities 33,999 22,019
Commitments and contingencies
Class A common shares subject to possible redemption 11,500,000 and no shares at $10.00 per share redemption value as of February 28, 2022 and August 31, 2021 (See Notes 2 and 5) 116,725 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; 33,661,552 and 25,863,099 shares issued as of February 28, 2022 and August 31, 2021   3 3
Additional paid-in capital 146,716 142,786
Accumulated deficit (166,940) (149,338)
Total ShiftPixy, Inc Stockholders' deficit (20,221) (6,549)
Non-controlling interest in consolidated subsidiaries (See Note 5) 9,494 47,472
Total Equity (Deficit) (10,727) 40,923
Total liabilities and equity deficit $ 139,997 $ 62,942

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