v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
OPERATING ACTIVITIES        
Net (loss) income     $ (13,119,000) $ 7,213,000
(Loss) Income from discontinued operations $ (221,000) $ 14,289,000 (1,535,000) 16,258,000
Net loss from continuing operations (5,962,000) (4,682,000) (11,584,000) (9,045,000)
Adjustments to reconcile net loss from continuing operations to net cash used in continuing operating activities:        
Depreciation and amortization 86,000 77,000 148,000 156,000
Gain on convertible note penalties accrual 0 (760,000)   (760,000)
Amortization of debt discount and debt issuance cost       2,313,000
Stock issued for services       75,000
Stock-based compensation- general and administrative     863,000 670,000
Expense related to warrant modification       22,000
Inducement loss on note conversions 0 567,000   567,000
Change in fair value of derivative and warrant liability 0 (829,000)   (1,771,000)
Changes in operating assets and liabilities        
Accounts receivable     (108,000) (1,111,000)
Unbilled accounts receivable     261,000 (956,000)
Prepaid expenses and other current assets     (163,000) 28,000
Deposits - workers' compensation     150,000 2,276,000
Deposits and other assets     (458,000) 20,000
Accounts payable     421,000 (901,000)
Payroll related liabilities     1,243,000 (2,732,000)
Accrued workers' compensation     (11,000) 2,273,000
Other current liabilities       (1,894,000)
Total Adjustments     2,346,000 (1,725,000)
Net cash used in continuing operating activities     (9,238,000) (10,770,000)
Net cash (used in) provided by discontinued operating activities     (1,192,000) 175,000
Net cash used in operating activities     (10,430,000) (10,595,000)
INVESTING ACTIVITIES        
Purchase of fixed assets     (1,095,000) (77,000)
Disposal of fixed assets       34,000
Proceeds from working capital adjustment - sale of assets       1,214,000
Proceeds from sale of assets       9,500,000
Net cash (used in) provided by investing activities     (1,095,000) 10,671,000
FINANCING ACTIVITIES        
Repayment of convertible notes       (1,240,000)
Proceeds from underwritten public offering, net of offering costs     10,701,000  
Net cash provided by financing activities     10,701,000 (1,240,000)
Net decrease in cash     (824,000) (1,164,000)
Cash - Beginning of Period     4,303,000 1,561,000
Cash - End of Period $ 3,479,000 $ 397,000 3,479,000 397,000
Supplemental Disclosure of Cash Flows Information:        
Cash paid for interest     $ 6,000 315,000
Non-cash Investing and Financing Activities:        
Conversion of debt and accrued interest into common stock       2,215,000
Common shares issued for services       75,000
Common shares issued for note exchange       200,000
Additional principal issued for note exchange       267,000
Discount recorded for asset sale note receivable       1,818,000
Reclassification of derivative liabilities to paid in capital       $ 1,691,000

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