Annual report pursuant to Section 13 and 15(d)

Subsequent Events

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Subsequent Events
12 Months Ended
Aug. 31, 2018
Notes to Financial Statements  
Note 13: Subsequent Events

The Company issued 267,500 shares of common stock following the exercise of warrants with an exercise price of $2.00 and $3.00 and received gross proceeds of $660,000.

 

On September 28, 2017, the Company issued to its two independent directors each 26,316 shares of common stock through the ShiftPixy, Inc., 2017 Stock Option/Stock Issuance plan, of which 50% vested on September 28, 2018, marking the first anniversary of service.

 

The Company granted 235,000 incentive stock options to employees with a grant-date average fair value of $3.13, which vest over a service period of 48 months. The stock options were valued using the Black-Scholes option-pricing model.

 

The Company issued 225,724 shares of common stock following the conversion notices received from our institutional investors related to the senior secured convertible notes.

 

Management has evaluated subsequent events pursuant to the issuance of the consolidated financial statements and has determined that other than listed above, no other subsequent events exist through the date of this filing.