v3.22.4
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2022
Aug. 31, 2022
Current assets    
Cash $ 864 $ 618
Accounts receivable 238 279
Unbilled accounts receivable 2,706 2,105
Prepaid expenses 480 696
Other current assets 288 187
Cash and marketable securities held in Trust Account (See Notes 2 and 4) 117,770 116,969
Total current assets 122,346 120,854
Fixed assets, net 3,020 2,769
Right-of -use operating lease 3,965 4,076
Deposits and other assets 920 919
Total assets 130,251 128,618
Current liabilities    
Accounts payable and other accrued liabilities 15,827 17,122
Payroll related liabilities 18,766 16,055
Accrued workers’ compensation costs 575 567
Current liabilities of discontinued operations 1,438 1,362
Class A common shares of SPAC mandatory redeemable 11,500,000 shares as of November 30, 2022 and August 31, 2022 (See Notes 2 and 4) 117,770 116,969
Total current liabilities 154,376 152,075
Non-current liabilities    
Operating lease liability, non-current 3,453 3,541
Accrued workers’ compensation costs 1,196 1,227
Non-current liabilities of discontinued operations 3,394 3,269
Total liabilities 162,419 160,112
Commitments and contingencies
Stockholders’ deficit    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value: 0 and 8,600,000 shares issued and outstanding as of November 30, 2022 and August 31, 2022. 0 1
Common stock, 750,000,000 authorized shares; $0.0001 par value; 9,671,196 and 513,349 shares issued as of November 30, 2022 and August 31, 2022.    1 0
Additional paid-in capital 156,485 151,736
Accumulated deficit (198,148) (192,725)
Total ShiftPixy, Inc. Stockholders' deficit (41,662) (40,988)
Non-controlling interest in consolidated subsidiary (See Note 5) 9,494 9,494
Total stockholders' deficit (32,168) (31,494)
Total liabilities and stockholders' deficit $ 130,251 $ 128,618

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