Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
May 31, 2019
May 31, 2018
OPERATING ACTIVITIES    
Net Loss $ (9,382,889) $ (7,877,419)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 600,360 134,986
Settlement of registration rights penalties accrual (2,611,112)
Financing costs 2,588,000
Inducement loss 3,828,550  
Amortization debt discount and debt issuance cost 3,598,776
Stock issued for services 225,006 125,354
Stock-based compensation- general and administrative 153,571 169,407
Non-cash interest 508,510
Change in fair value derivative and warrant liability (4,748,342)
Changes in operating assets and liabilities    
Accounts receivable (227,181) 120,943
Unbilled accounts receivable (507,423)
Prepaid expenses (199,988) 481,447
Other current assets 31,798 (161,796)
Deposits workers' compensation (3,814,575)
Deposits and other assets 26,523 (11,500)
Accounts payable 931,890 (310,249)
Payroll related liabilities 4,835,262 2,986,500
Accrued workers' compensation 2,821,580
Other current liabilities (284,924) 516,210
Net cash used in operating activities (1,626,608) (3,826,117)
INVESTING ACTIVITIES    
Purchase of fixed assets (581,097) (933,202)
Net cash used in investing activities (581,097) (933,202)
FINANCING ACTIVITIES    
Proceeds from issuance of convertible notes 3,750,000
Issuance costs related to convertible notes (485,198)
Repayment of convertible notes (435,606)
Proceeds from exercise of warrants 660,000 50,000
Net cash provided by financing activities 3,489,196 50,000
Net increase (decrease) in cash 1,281,491 (4,709,319)
Cash - Beginning of Period 1,649,783 5,896,705
Cash - End of Period 2,931,274 1,187,386
Supplemental Disclosure of Cash Flows Information:    
Cash paid for interest 225,894
Non-cash Investing and Financing Activities:    
Conversion of debt and accrued interest into common stock 8,839,345
Additional Principal to settle registration rights penalties $ 888,889