|9 Months Ended|
May 31, 2021
Note 7: Related Parties
J. Stephen Holmes, our non-employee sales manager, is an advisor to and significant shareholder of the Company. The Company incurred $180,000 and $570,000 in professional fees for services provided by Mr. Holmes in the three and nine months ended May 31, 2021 and $180,000 and $570,000 for the three and nine months ended May 31, 2020, respectively.
During the three and nine month periods ended May 31, 2021, we made one-time payments to certain of our employees totaling approximately $53,000 and $653,000, respectively, in connection with their agreement to relocate from California to our new principal executive offices in Miami, Florida. Included among these were payments to the following related parties, in the amounts indicated: (i) Mr. Absher, $160,000; (ii) Amanda Murphy, our Director of Operations and a member of our Board, $80,000; (iii) David May, a member of our business development team, and the son-in-law of Mr. Absher, $80,000; (iv) Phil Eastvold, the Executive Producer of ShiftPixy Productions, Inc., and the son-in-law of Mr. Absher, $88,000; (v) Hannah Absher, an employee of the Company and the daughter of Scott Absher, $18,000 ; and(vi) Jared Holmes, an employee of the Company and son of Stephen Holmes, $18,000.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef