v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
May 31, 2021
May 31, 2020
May 31, 2021
May 31, 2020
Condensed Consolidated Statements of Operations        
Revenues (gross billings of $20.1 million and $14.4 million less worksite employee payroll cost of $17.4 million and $12.4 million, respectively for the three months ended, respectively; and gross billings of $57.7 million and $46.8 million less worksite employee payroll cost of $50.1 million and $40.5 million for the nine months ended, respectively) $ 2,648,000 $ 2,014,000 $ 7,570,000 $ 6,281,000
Cost of revenue 3,095,000 1,873,000 7,141,000 5,824,000
Gross profit (loss) (447,000) 141,000 429,000 457,000
Operating expenses:        
Salaries, wages, and payroll taxes 2,993,000 1,793,000 7,778,000 5,351,000
Stock-based compensation - general and administrative 444,000 150,000 1,363,000 896,000
Commissions 49,000 27,000 136,000 144,000
Professional fees 1,585,000 439,000 3,298,000 2,276,000
Software development 1,057,000 686,000 2,720,000 1,389,000
Depreciation and amortization 120,000 383,000 268,000 539,000
General and administrative 1,309,000 1,054,000 4,448,000 2,617,000
Total operating expenses 7,557,000 4,532,000 20,011,000 13,212,000
Operating Loss (8,004,000) (4,391,000) (19,582,000) (12,755,000)
Other (expense) income:        
Interest expense (3,000) (559,000) (9,000) (2,524,000)
Expense related to preferred options 0 (62,091,000)   (62,091,000)
Expense related to modification of warrants 0 0   (22,000)
Loss from debt conversion 0 (2,842,000)   (3,500,000)
Inducement loss 0 (57,000)   (624,000)
Loss on debt extinguishment 0 (159,200)   (1,592,000)
Change in fair value derivative and warrant liability 0 6,000   1,777,000
Gain on convertible note penalties accrual 0 0   760,000
Total other expense (3,000) (67,135,000) (9,000) (67,816,000)
Loss from continuing operations (8,007,000) (71,526,000) (19,591,000) (80,571,000)
(Loss) income from discontinued operations        
(Loss) income from discontinued operations 23,000 (1,490,000) (1,512,000) (914,000)
Gain from asset sale 0 0   15,682,000
Total (loss) income from discontinued operations, net of tax 23,000 (1,490,000) (1,512,000) 14,768,000
Net (loss) income $ (7,984,000) $ (73,016,000) $ (21,103,000) $ (65,803,000)
Net loss per share, Basic and diluted        
Continuing operations $ (0.24) $ (2.72) $ (0.60) $ (5.48)
Discontinued operations        
Operating (loss) income 0.00 (0.06) (0.05) (0.06)
Gain on sale of assets 0.00 0.00   1.07
Total discontinued operations 0.00 (0.06) (0.05) 1.01
Net loss per common share - Basic and diluted $ (0.24) $ (2.78) $ (0.65) $ (4.47)
Weighted average common shares outstanding - Basic and diluted 33,596,111 26,249,518 32,385,287 14,708,554

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