Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
Condensed Consolidated Statements of Operations        
Revenues (gross billings of $17.9 million and $14.5 million less worksite employee payroll cost of $15.5 million and $12.5 million, respectively for the three months ended; gross billings of $37.6 million and $32.4 million less worksite employee payroll cost of $32.7 million and $28.1 million, respectively for six months ended) $ 2,419,000 $ 2,007,000 $ 4,922,000 $ 4,267,000
Cost of revenue 2,056,000 1,933,000 4,046,000 3,951,000
Gross profit 363,000 74,000 876,000 316,000
Operating expenses:        
Salaries, wages, and payroll taxes 2,592,000 1,802,000 4,785,000 3,557,000
Stock-based compensation - general and administrative 423,000 619,000 919,000 745,000
Commissions 49,000 46,000 87,000 118,000
Professional fees 1,006,000 997,000 1,713,000 1,837,000
Software development 786,000 350,000 1,663,000 703,000
Depreciation and amortization 86,000 77,000 148,000 156,000
General and administrative 1,380,000 403,000 3,139,000 1,564,000
Total operating expenses 6,322,000 4,294,000 12,454,000 8,680,000
Operating Loss (5,959,000) (4,220,000) (11,578,000) (8,364,000)
Other (expense) income:        
Interest expense (3,000) (806,000) (6,000) (1,967,000)
Expense related to modification of warrants 0 (21,000)   (21,000)
Loss from debt conversion 0 (657,000)   (657,000)
Inducement loss 0 (567,000)   (567,000)
Change in fair value of derivative and warrant liability 0 829,000   1,771,000
Gain on convertible note penalties accrual 0 760,000   760,000
Total other expense (3,000) (462,000) (6,000) (681,000)
Loss from continuing operations (5,962,000) (4,682,000) (11,584,000) (9,045,000)
(Loss) income from discontinued operations        
(Loss) income from discontinued operations (221,000) (1,393,000) (1,535,000) 576,000
Gain from asset sale 0 15,682,000   15,682,000
Total (loss) income from discontinued operations, net of tax (221,000) 14,289,000 (1,535,000) 16,258,000
Net (loss) income $ (6,183,000) $ 9,607,000 $ (13,119,000) $ 7,213,000
Net (loss) income per share, Basic and diluted        
Continuing operations $ (0.18) $ (0.27) $ (0.36) $ (1.01)
Discontinued operations        
Operating (loss) income (0.01) (0.08) (0.05) 0.06
Gain on sale of assets 0.00 0.92   1.76
Total discontinued operations (0.01) 0.84 (0.05) 1.82
Net income (loss) per share of common stock - Basic and diluted $ (0.19) $ 0.57 $ (0.41) $ 0.81
Weighted average common stock outstanding - Basic and diluted 32,746,660 16,971,339 31,772,050 8,932,217