Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Nov. 30, 2021
Aug. 31, 2021
Current assets    
Cash $ 1,718 $ 1,199
Accounts receivable 400 498
Unbilled accounts receivable 2,700 2,741
Deposit – workers’ compensation 95 155
Prepaid expenses 971 605
Other current assets 199 126
Current assets of discontinued operations 243 356
Total current assets 6,326 5,680
Cash and marketable securities held in Trust Account (See Note 2 and 5) 116,725 0
Fixed assets, net 3,010 2,784
Note receivable, net 4,004 4,004
Deposits – workers’ compensation 246 386
Deposits and other assets 944 944
Deferred offering costs – SPACs (See Note 5) 38,493 48,261
Non-current assets of discontinued operations 627 883
Total assets 170,375 62,942
Current liabilities    
Accounts payable and other accrued liabilities 7,669 6,553
Payroll related liabilities 8,619 7,876
Accrued workers’ compensation costs 604 663
Current liabilities of discontinued operations 1,414 1,516
Total current liabilities 18,306 16,608
Non-current liabilities    
Accrued workers’ compensation costs 1,321 1,646
Non-current liabilities of discontinued operations 3,631 3,765
Total liabilities 23,258 22,019
Commitments and contingencies
Class A common shares subject to possible redemption 11,500,000 and no shares at $10.00 per share redemption value as of November 30, 2021 and August 31, 2021 (See note 2 and 5) 116,725 0
Stockholders’ equity (deficit)    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value 0 0
Common stock, 750,000,000 authorized shares; $0.0001 par value; 28,713,099 and 25,863,099 shares issued as of November 30, 2021 and August 31, 2021   3 3
Additional paid-in capital 140,968 142,786
Accumulated deficit (158,051) (149,338)
Total ShiftPixy, Inc Stockholders' deficit (17,080) (6,549)
Non-controlling interest in consolidated subsidiaries (See note 5) 47,472 47,472
Total Equity (Deficit) 30,392 40,923
Total liabilities and equity deficit $ 170,375 $ 62,942