Condensed Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
May 31, 2023 |
May 31, 2022 |
May 31, 2023 |
May 31, 2022 |
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Condensed Consolidated Statements of Operations (Unaudited) | ||||
Revenues (See Note 2) | $ 3,988,000 | $ 9,643,000 | $ 13,833,000 | $ 29,021,000 |
Cost of revenues | 3,788,000 | 9,039,000 | 12,623,000 | 27,782,000 |
Gross profit | 200,000 | 604,000 | 1,210,000 | 1,239,000 |
Operating expenses: | ||||
Salaries, wages, and payroll taxes | 2,621,000 | 3,254,000 | 7,477,000 | 10,796,000 |
Professional fees | 752,000 | 2,680,000 | 2,817,000 | 6,094,000 |
Software development | 50,000 | 4,291,000 | 229,000 | 6,525,000 |
Depreciation and amortization | 148,000 | 133,000 | 447,000 | 386,000 |
General and administrative | 3,074,000 | 2,967,000 | 6,609,000 | 7,718,000 |
Total operating expenses | 6,645,000 | 13,325,000 | 17,579,000 | 31,519,000 |
Operating loss | (6,445,000) | (12,721,000) | (16,369,000) | (30,280,000) |
Other (expense) income: | ||||
Interest expense | (550,000) | (1,000) | (1,007,000) | (2,000) |
Other income | 0 | 27,000 | 536,000 | 43,000 |
SPAC offering costs | 0 | 0 | 0 | (515,000) |
Total other expense | (550,000) | 26,000 | (471,000) | (474,000) |
Net loss from continuing operations | (6,995,000) | (12,695,000) | (16,840,000) | (30,754,000) |
Loss from discontinued operations, net of tax | (460,000) | (132,000) | (1,267,000) | (283,000) |
Non-controlling interest | 0 | 0 | (540,000) | 0 |
Net loss attributable to ShiftPixy, Inc. | (7,455,000) | (12,827,000) | (18,647,000) | (31,037,000) |
Preferred stock preferential dividend | 0 | 0 | (127,145,000) | 0 |
Deemed dividend from change in fair value from warrants modification | 0 | 0 | 0 | (7,731,000) |
Net loss attributable to common stockholders | $ (7,455,000) | $ (12,827,000) | $ (145,792,000) | $ (38,768,000) |
Net loss per share attributable, basic and diluted | ||||
Continuing operations - basic and diluted | $ (0.70) | $ (33.08) | $ (14.84) | $ (101.72) |
Discontinued operations - basic and diluted | (0.05) | (0.34) | (0.13) | (0.75) |
Net loss per common share - basic and diluted | $ (0.75) | $ (33.42) | $ (14.97) | $ (102.47) |
Weighted average common shares outstanding - basic and diluted | 10,057,177 | 383,726 | 9,739,578 | 378,349 |
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- Definition Useful life of Capitalized Software Development used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Cost of product sold and service rendered, excluding depreciation, depletion, and amortization. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of gain (loss) from deconsolidation of subsidiary and derecognition of group of assets constituting transfer of business or nonprofit activity, excluding conveyance of oil and gas mineral rights and transfer of good or service in contract with customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of income (loss) attributable to parent. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary and wage arising from service rendered by nonofficer employee. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of increase (decrease) in equity for down round feature triggered for warrant classified as equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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