Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Aug. 31, 2022
Aug. 31, 2021
Current assets    
Cash $ 618 $ 1,199
Accounts receivable 279 498
Unbilled accounts receivable 2,105 2,741
Deposit – workers’ compensation 0 155
Prepaid expenses 696 605
Other current assets 187 126
Current assets of discontinued operations 0 356
Cash and marketable securities held in Trust Account (See Notes 2 and 5) 116,969 0
Total current assets 120,854 5,680
Fixed assets, net 2,769 2,784
ROU operating lease 4,076  
Note receivable, net 0 4,004
Deposits – workers’ compensation 0 386
Deposits and other assets 919 944
Deferred offering costs – SPACs (See Note 5 and 6) 0 48,261
Non-current assets of discontinued operations 0 883
Total assets 128,618 62,942
Current liabilities    
Accounts payable and other accrued liabilities 17,122 6,553
Payroll related liabilities 16,055 7,876
Accrued workers’ compensation costs 567 663
Current liabilities of discontinued operations 1,362 1,516
Class A common shares subject to possible redemption 11,500,000 and no shares at $10.15 per share redemption value as of August 31, 2022 and August 31, 2021 (See Notes 2 and 5) 116,969 0
Total current liabilities 152,075 16,608
Non-current liabilities    
Operating lease liability, non-current 3,541  
Accrued workers’ compensation costs 1,227 1,646
Non-current liabilities of discontinued operations 3,269 3,765
Total liabilities 160,112 22,019
Commitments and contingencies
Stockholders’ equity (deficit)    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value: 8,600,000 and 0 shares issued and outstanding as of August 31, 2022 and August 31, 2021. 1 0
Common stock, 750,000,000 authorized shares; $0.0001 par value; 513,349 and 258,631 shares issued as of August 31, 2022 and August 31, 2021   5 3
Additional paid-in capital 151,731 142,786
Accumulated deficit (192,725) (149,338)
Total ShiftPixy, Inc. Stockholders' deficit (40,988) (6,549)
Non-controlling interest in consolidated subsidiaries (See Note 5) 9,494 47,472
Total Equity (Deficit) (31,494) 40,923
Total liabilities and equity deficit $ 128,618 $ 62,942