Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
May 31, 2019
Aug. 31, 2018
Current assets    
Cash $ 2,931,274 $ 1,649,783
Accounts receivable 338,112 110,931
Unbilled accounts receivable 6,700,054 6,192,631
Deposit - workers' compensation 2,250,103 1,672,097
Prepaid expenses 762,990 563,002
Other current assets 227,103 258,901
Total current assets 13,209,636 10,447,345
Fixed assets, net 3,013,062 3,032,325
Deposits - workers' compensation 5,438,125 2,201,556
Deposits and other assets 94,083 120,606
Total assets 21,754,906 15,801,832
Current liabilities    
Accounts payable 2,178,351 1,246,461
Payroll related liabilities 14,311,903 9,476,641
Convertible note, net 1,407,340 6,171,315
Derivative liability 1,577,328
Accrued workers' compensation costs 1,027,043 305,217
Registration rights penalties accrual (Note 4) 3,500,000
Other current liabilities 1,670,997 1,955,921
Total current liabilities 22,172,962 22,655,555
Non-current liabilities    
Accrued workers' compensation costs 3,000,732 900,978
Total liabilities 25,173,694 23,556,533
Commitments and contingencies
Stockholders' deficit    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value; no shares issued and outstanding
Common stock, 750,000,000 authorized shares; $0.0001 par value; 36,038,219 and 28,851,787 shares issued and outstanding, respectively 3,604 2,886
Additional paid-in capital 32,183,503 18,465,419
Accumulated deficit (35,605,895) (26,223,006)
Total stockholders' deficit (3,418,788) (7,754,701)
Total liabilities and stockholders' deficit $ 21,754,906 $ 15,801,832