General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Feb. 29, 2020
Feb. 29, 2020
Feb. 28, 2019
Aug. 31, 2019
Aug. 31, 2018
OPERATING ACTIVITIES          
Net Income (Loss)   $ 6,889,000 $ (4,387,000) $ (18,727,000) $ (16,823,000)
Income from discontinued operations $ 13,898,000 15,879,000 3,418,000 5,997,000 1,226,000
Net loss from continuing operations (4,453,000) (8,990,000) (7,805,000) (24,724,000) (18,049,000)
Adjustments to reconcile net loss from continuing operations to net cash used in continuing operating activities:          
Depreciation and amortization 239,000 480,000 379,000 837,000 272,000
Gain on convertible note settlement (760,000) (760,000) (2,611,000)    
Gain on convertible note penalties accrual   (760,000)      
Amortization debt discount and debt issuance cost   2,313,000 1,895,000    
Stock issued for services   75,000 113,000 263,000 163,000
Stock-based compensation - general and administrative   670,000 158,000 369,000 200,000
Expense related to warrant modification 22,000 22,000   2,271,000  
Inducement loss on note conversions 567,000 567,000 1,555,000    
Non-cash interest     298,000    
Change in fair value of derivative and warrant liability (829,000) (1,771,000)   (2,569,000)  
Changes in operating assets and liabilities          
Accounts receivable   (1,111,000) (55,000) (50,000) 289,000
Unbilled accounts receivable   (691,000) (195,000) (857,000) (547,000)
Prepaid expenses   (53,000) 268,000 97,000 (93,000)
Other current assets   81,000 39,000 15,000 (243,000)
Deposits - workers' compensation   (273,000) (542,000) (794,000) (124,000)
Deposits and other assets   20,000 26,000 (3,000) 6,000
Accounts payable   (901,000) 458,000 1,372,000 76,000
Payroll related liabilities   3,242,000 985,000 1,584,000 590,000
Accrued workers' compensation   (273,000) 302,000 700,000 60,000
Other current liabilities   (1,894,000) (119,000) (25,000) 1,677,000
Total Adjustments   (257,000) 2,954,000    
Net cash used in continuing operating activities   (9,247,000) (4,851,000) (12,063,000) (11,352,000)
Net cash (used in) provided by discontinued operating activities   (1,348,000) 4,837,000 9,978,000 1,815,000
Net cash used in operating activities   (10,595,000) (14,000) (2,086,000) (9,538,000)
INVESTING ACTIVITIES          
Purchase of fixed assets   (77,000) (497,000) (1,167,000) (3,019,000)
Disposal of fixed assets   34,000      
Proceeds from working capital adjustment - sale of assets   1,214,000      
Proceeds from sale of assets   9,500,000      
Net cash provided by (used in) investing activities   10,671,000 (497,000) (1,492,000) (3,019,000)
FINANCING ACTIVITIES          
Repayment of convertible notes       (436,000)  
Proceeds from asset sale   (1,240,000)      
Proceeds from exercise of warrants     660,000 660,000 75,000
Net cash provided by financing activities   (1,240,000) 660,000 3,489,000 8,310,000
Net increase (decrease) in cash   (1,164,000) 149,000 (89,000) (4,247,000)
Cash - Beginning of Period   1,561,000 1,650,000 1,650,000 5,897,000
Cash - End of Period 397,000 397,000 1,799,000 1,561,000 1,650,000
Supplemental Disclosure of Cash Flows Information:          
Cash paid for interest   315,000 145,000 226,000 133,000
Non-cash Investing and Financing Activities:          
Conversion of debt and accrued interest into common stock   2,215,000 4,891,000 8,904,000  
Additional Principal to settle registration rights penalties     $ 889,000 889,000  
Common shares issued for services   75,000   $ 263,000 $ 163,000
Common shares issued for note exchange $ 200,000 200,000      
Additional principal issued for note exchange   267,000      
Discount recorded for asset sale note receivable   1,818,000      
Reclassification of derivative liabilities to paid in capital   1,691,000      
Supplemental schedule of cash activities - Asset Sale          
Cash received at January 3, 2020 closing   $ 9,500,000