Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
Aug. 31, 2020
Aug. 31, 2019
Current assets    
Cash $ 4,303,000 $ 1,561,000
Accounts receivable, net 308,000 85,000
Unbilled accounts receivable 2,303,000 1,418,000
Deposit - workers' compensation 293,000 235,000
Prepaid expenses 723,000 349,000
Other current assets 73,000 244,000
Current assets of discontinued operations 1,030,000 10,139,000
Total current assets 9,033,000 14,031,000
Fixed assets, net 575,000 4,155,000
Note receivable, net 4,045,000 0
Deposits - workers' compensation 736,000 754,000
Deposits and other assets 449,000 124,000
Non current assets of discontinued operations 2,582,000 5,567,000
Total assets 17,420,000 24,631,000
Current liabilities    
Accounts payable and other accrued liabilities 3,831,000 4,454,000
Payroll related liabilities 5,752,000 2,559,000
Convertible notes, net 0 3,351,000
Accrued workers' compensation costs 497,000 235,000
Default penalties accrual 0 1,800,000
Derivative liability 0 3,756,000
Current liabilities of discontinued operations 1,746,000 16,033,000
Total current liabilities 11,826,000 32,188,000
Non-current liabilities    
Accrued workers' compensation costs 1,247,000 525,000
Non-current liabilities of discontinued operations 4,377,000 3,853,000
Total liabilities 17,450,000 36,566,000
Commitments and contingencies
Stockholders' deficit    
Preferred stock, 50,000,000 authorized shares; $0.0001 par value 0 0
Common stock, 750,000,000 authorized shares; $0.0001 par value; 16,902,146 and 909,222 shares issued as of August 31, 2020 and 2019 1,000 0
Additional paid-in capital 119,431,000 32,505,000
Treasury stock, at cost-0 and 13,953 shares as of August 31, 2020 and August 31, 2019   (325,000)
Accumulated deficit (119,462,000) (44,115,000)
Total stockholders' deficit (30,000) (11,935,000)
Total liabilities and stockholders' deficit $ 17,420,000 $ 24,631,000