Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Nov. 30, 2019
Nov. 30, 2018
Condensed Consolidated Statements of Operations (Unaudited)    
Revenues (gross billings of 110.7 million and 70.9 million less worksite employee payroll cost of 94.8 million and 60.4 million, respectively) $ 15,866,000 $ 10,520,000
Cost of revenue 12,552,000 7,134,000
Gross profit 3,314,000 3,386,000
Operating expenses:    
Salaries, wages and payroll taxes 2,283,000 1,872,000
Commissions 774,000 553,000
Professional fees 840,000 624,000
External Software development 353,000 310,000
General and administrative 1,401,000 1,316,000
Total operating expenses 5,651,000 4,675,000
Operating Loss (2,337,000) (1,289,000)
Other income (expense)    
Interest expense (1,161,000) (957,000)
Change in fair value of derivative liability 942,000
Total other income (expense) (219,000) (957,000)
Net Loss $ (2,556,000) $ (2,246,000)
Net loss per common share    
Basic and diluted $ (2.86) $ (3.11)
Basic and diluted 893,094 723,033