Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.21.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Nov. 30, 2021
Nov. 30, 2020
OPERATING ACTIVITIES    
Net  loss $ (8,713) $ (6,936)
Loss from discontinued operations (134) (1,314)
Net loss from continuing operations (8,579) (5,622)
Adjustments to reconcile net loss from continuing operations to net cash used in continuing operating activities:    
Depreciation and amortization 123 62
Stock-based compensation 408 421
Changes in operating assets and liabilities    
Accounts receivable 98 150
Unbilled accounts receivable 41 (157)
Prepaid expenses (366) 138
Other current assets (73) (46)
Deposits – workers’ compensation 200 11
Deposits and other assets 0 (35)
Accounts payable and other accrued liabilities 1,116 (432)
Payroll related liabilities 743 1,012
Accrued workers’ compensation costs (384) 127
Total Adjustments 1,906 1,251
Net cash used in continuing operating activities (6,673) (4,371)
Net cash used in discontinued operating activities (1) (981)
Net cash used in operating activities (6,674) (5,352)
INVESTING ACTIVITIES    
Investment of IHC IPO proceeds into Trust Account (116,725) 0
Purchase of fixed assets  (349) (572)
Net cash (used in) provided by investing activities (117,074) (572)
FINANCING ACTIVITIES    
SPAC related offering costs paid (3,502) 0
Proceeds from initial public offering of IHC 116,725 0
Proceeds from underwritten public offering, net of offering costs 0 10,701
Proceeds from private placement, net of offering costs 4,183 0
Proceeds from private placement prefunded warrants, net of offering costs 6,861 0
Net cash provided by financing activities 124,267 10,701
Net increase in cash 519 4,777
Cash - Beginning of Period 1,199 4,303
Cash -End of Period 1,718 9,080
Supplemental Disclosure of Cash Flows Information:    
Cash paid for interest 1 3
Cash paid for income taxes  0 0
Non-cash Investing and Financing Activities:    
Deferred offering costs SPACs $ 9,464 $ 0