v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
May 31, 2023
Aug. 31, 2022
Current assets    
Cash $ 144,000 $ 618,000
Accounts receivable, net of reserve of $10,000 and $0 as of May 31, 2023 and August 31, 2022 respectively 537,000 279,000
Unbilled accounts receivable 2,046,000 2,105,000
Prepaid expenses 256,000 696,000
Other current assets 271,000 187,000
Cash and marketable securities held in Trust Account (See Notes 2 and 4) 0 116,969,000
Total current assets 3,254,000 120,854,000
Fixed assets, net 2,665,000 2,769,000
Right-of-use operating lease 3,567,000 4,076,000
Deposits and other assets 1,098,000 919,000
Total assets 10,584,000 128,618,000
Current liabilities    
Accounts payable and other accrued liabilities 18,342,000 17,121,000
Payroll related liabilities 24,379,000 16,055,000
Accrued workers' compensation costs 425,000 568,000
Current liabilities of discontinued operations 1,765,000 1,362,000
Class A common shares of SPAC mandatory redeemable 0 shares and 11,500,000 shares as of May 31, 2023 and August 31, 2022 (See Notes 2 and 4) 0 116,969,000
Total current liabilities 44,911,000 152,075,000
Non-current liabilities    
Operating lease liability, non-current 3,017,000 3,541,000
Accrued workers' compensation costs 922,000 1,227,000
Non-current liabilities of discontinued operations 4,133,000 3,269,000
Total liabilities 52,983,000 160,112,000
Stockholders' deficit    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value: 0 and 8,600,000 shares issued and outstanding as of May 31, 2023 and August 31, 2022. 0 1,000
Common stock, 750,000,000 authorized shares; $0.0001 par value; 10,110,524 and 513,349 shares issued as of May 31, 2023 and August 31, 2022 6,000 5,000
Additional paid-in capital 168,967,000 151,731,000
Accumulated deficit (211,372,000) (192,725,000)
Total ShiftPixy, Inc. Stockholders' deficit (42,399,000) (40,988,000)
Non-controlling interest in consolidated subsidiary (See Note 4) 0 9,494,000
Total Stockholders' deficit (42,399,000) (31,494,000)
Total liabilities and Stockholders' deficit $ 10,584,000 $ 128,618,000

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