Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.20.4
Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Condensed Consolidated Statements of Operations    
Revenues (gross billings of $19.8 million and $17.2 million less worksite employee payroll cost of $17.3 million and $15.0 million, respectively for the three months ended) $ 2,503,000 $ 2,169,000
Cost of revenue 1,990,000 1,948,000
Gross profit 513,000 221,000
Operating expenses:    
Salaries, wages, and payroll taxes 2,193,000 1,756,000
Stock-based compensation - general and administrative 496,000 127,000
Commissions 38,000 71,000
Professional fees 707,000 840,000
Software development 877,000 353,000
Depreciation and amortization 62,000 79,000
General and administrative 1,759,000 1,160,000
Total operating expenses 6,132,000 4,386,000
Operating Loss (5,619,000)  
Other (expense) income:    
Interest expense (3,000) (1,161,000)
Change in fair value of derivative liability 0 942,000
Total other (expense) income (3,000) (219,000)
Loss from continuing operations (5,622,000) (4,384,000)
(Loss) Income from discontinued operations (1,314,000) 1,990,000
Total Income (Loss) from discontinued operations, net of tax (1,314,000) 1,990,000
Net loss $ (6,936,000) $ (2,394,000)
Net Loss per share, Basic and diluted    
Continuing operations $ (0.18) $ (4.91)
Discontinued operations (loss) income (0.04) 2.23
Net Loss per share of common stock - Basic and diluted $ (0.22) $ (2.68)
Weighted average common stock outstanding - Basic and diluted 30,808,150 893,094