Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Aug. 31, 2019
Aug. 31, 2018
Consolidated Balance Sheets    
Cash $ 1,561,000 $ 1,650,000
Accounts receivable 272,000 111,000
Unbilled accounts receivable 9,478,000 6,193,000
Deposits-workers' compensation 1,957,000 1,672,000
Prepaid expenses 519,000 563,000
Other current assets 244,000 259,000
Total current assets 14,031,000 10,447,000
Fixed assets, net 3,360,000 3,032,000
Deposits- workers' compensation 6,281,000 2,202,000
Deposits and other assets 124,000 121,000
Total assets 23,796,000 15,802,000
Current liabilities    
Accounts payable 3,061,000 1,246,000
Accrued payroll and related liabilities 16,412,000 9,477,000
Convertible Notes, Net 3,351,000 6,171,000
Derivative liability 3,756,000
Accrued workers' compensation costs 1,957,000 305,000
Default penalties accrual 1,800,000 3,500,000
Other current liabilities 32,187,000 1,956,000
Total current liabilities 29,887,000 22,656,000
Noncurrent liabilities    
Accrued workers' compensation costs 4,379,000 901,000
Total liabilities 36,566,000 23,557,000
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; 36,281,894 and 28,851,787 shares issued as of August 31, 2019 and 2018, respectively 4,000 3,000
Additional paid-in capital 32,501,000 18,465,000
Treasury stock, at cost - 558,132 shares and no shares as of August 31, 2019 and 2018, respectively (325,000)  
Accumulated deficit (44,950,000) (26,223,000)
Total stockholders' deficit (12,770,000) (7,755,000)
Total liabilities and stockholders' deficit $ 23,796,000 $ 15,802,000