Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Feb. 28, 2022
Accounting Policies [Abstract]  
Disaggregation of Revenue The Company’s disaggregated revenues for the three and six months ended February 28, 2022 and February 28, 2021 were as follows:
For the Three Months Ended
For the Six Months Ended
Revenue (in millions):
February 28, 2022
February 28, 2021
February 28, 2022
February 28, 2021
HCM1
$ 1.6  2.4 $ 3.3  4.9
Staffing 8.8  —  16.1  — 
$ 10.4  $ 2.4  $ 19.4  $ 4.9 
1 HCM revenue is presented net, $12.6 million and $25.5 million gross billings less WSE payroll costs of $11.0 million and $22.2 million for the three and six months ended February 28, 2022, respectively and $17.9 million and $37.6 million gross less WSE payroll cost of $15.5 and $32.7 million for the three and six months ended February 28, 2021, respectively.
Revenue from External Customers by Geographic Areas
For the three and six months ended February 28, 2022 and February 28, 2021, the following geographical regions represented more than 10% of total revenues:

For the Three Months Ended
For the Six Months Ended
Region:
February 28, 2022
February 28, 2021
February 28, 2022
February 28, 2021
California 53  % 67  % 54  % 68  %
Washington 13  % 10  % 13  % 10  %
Schedule of Estimated Useful Lives of Property and Equipment The estimated useful lives of property and equipment for purposes of computing depreciation are as follows:
Equipment: 5 years
Furnitures & Fixtures:
5 - 7 years
Leasehold improvements
Shorter of useful life or the remaining lease term, typically 5 years
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share Securities that are excluded from the calculation of weighted average dilutive common stock, because their inclusion would have been antidilutive, are:
For the Three Months Ended
For the Six Months Ended
February 28, 2022
February 28, 2021
February 28, 2022
February 28, 2021
Options (See Note 8) 1,769,497  1,822,173  1,769,497  1,822,173 
Warrants (See Note 7) 27,113,736  4,396,209  22,440,225  4,396,209 
Total potentially dilutive shares 28,883,233  6,218,382  28,883,233  6,218,382