2024 Q1 Form 10-Q Financial Statement

#000147793224000315 Filed on January 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.00K $1.493M $118.6M
YoY Change -97.43% -98.74% 6805.36%
Cash & Equivalents $21.00K $1.493M $864.0K
Short-Term Investments $117.8M
Other Short-Term Assets $428.0K $532.0K $288.0K
YoY Change 46.08% 84.72% 44.72%
Inventory
Prepaid Expenses $515.0K $636.0K $480.0K
Receivables $1.300M $2.073M $238.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.264M $4.734M $122.3M
YoY Change -46.43% -96.13% 1834.02%
LONG-TERM ASSETS
Property, Plant & Equipment $1.330M $1.469M $3.020M
YoY Change -51.97% -51.36% 0.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $192.0K $192.0K $920.0K
YoY Change -81.16% -79.13% -2.54%
Total Long-Term Assets $2.213M $2.440M $7.905M
YoY Change -70.71% -69.13% -95.18%
TOTAL ASSETS
Total Short-Term Assets $2.264M $4.734M $122.3M
Total Long-Term Assets $2.213M $2.440M $7.905M
Total Assets $4.477M $7.174M $130.3M
YoY Change -62.0% -94.49% -23.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.60M $23.47M $15.83M
YoY Change 42.66% 48.26% 106.38%
Accrued Expenses $37.56M $35.63M $19.34M
YoY Change 75.82% 84.24% 109.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.17M $59.10M $154.4M
YoY Change 54.7% -61.72% 743.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.321M $2.558M $8.043M
YoY Change -70.84% -68.2% 62.42%
Total Long-Term Liabilities $2.321M $2.558M $8.043M
YoY Change -70.84% -68.2% 62.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.17M $59.10M $154.4M
Total Long-Term Liabilities $2.321M $2.558M $8.043M
Total Liabilities $63.49M $61.66M $162.4M
YoY Change 33.66% -62.04% 598.34%
SHAREHOLDERS EQUITY
Retained Earnings -$236.6M -$231.9M -$198.1M
YoY Change 16.04% 17.06% 25.3%
Common Stock $0.00 $0.00 $1.000K
YoY Change -100.0% -100.0% -66.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$59.01M -$54.48M -$41.66M
YoY Change
Total Liabilities & Shareholders Equity $4.477M $7.174M $130.3M
YoY Change -62.0% -94.49% -23.55%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4

Facts In Submission

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CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4388000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1418000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
246000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
75000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
618000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1493000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
864000 usd
CY2023Q4 us-gaap Interest Paid Net
InterestPaidNet
21900 usd
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q4 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2022Q4 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
CY2023Q4 pixy Increase In Marketable Securities In Trust Account And Class A Mandatory Redeemable Common Shares
IncreaseInMarketableSecuritiesInTrustAccountAndClassAMandatoryRedeemableCommonShares
0 usd
CY2022Q4 pixy Increase In Marketable Securities In Trust Account And Class A Mandatory Redeemable Common Shares
IncreaseInMarketableSecuritiesInTrustAccountAndClassAMandatoryRedeemableCommonShares
801000 usd
CY2023Q4 pixy Transfer Of Preferred Shares To Common Shares
TransferOfPreferredSharesToCommonShares
0 usd
CY2022Q4 pixy Transfer Of Preferred Shares To Common Shares
TransferOfPreferredSharesToCommonShares
1000 usd
CY2023Q4 us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 1: Nature of Operations</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">ShiftPixy, Inc. (the “Company”) was incorporated on June 3, 2015, in the State of Wyoming. The Company is a specialized Human Capital service provider that provides solutions for large, contingent, part-time workforce demands, primarily in the restaurant and hospitality service trades. The Company’s historic focus has been on the quick service restaurant industry in Southern California, but the Company has expanded into other geographic areas and industries that employ temporary or part-time labor sources, notably including the healthcare industry.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company functions as an employment administrative services (“EAS”) provider primarily through its wholly owned subsidiary, ReThink Human Capital Management, Inc. (“HCM”), as well as a staffing provider through another of its wholly owned subsidiaries, ShiftPixy Staffing, Inc. (“Staffing”). These subsidiaries provide a variety of services to our clients typically as a co-employer through HCM and a direct employer through Staffing, including the following: administrative services, payroll processing, human resources consulting, and workers’ compensation administration and coverage (as permitted and/or required by state law). The Company has built a human resources information systems (“HRIS”) platform to assist in client acquisition that simplifies the onboarding of new clients into the Company’s closed proprietary operating and processing information system (the “ShiftPixy Ecosystem”).</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In January 2020, the Company sold the assets of Shift Human Capital Management Inc. (“SHCM”), a wholly owned subsidiary of the Company, pursuant to which the Company assigned the majority of the Company’s billable clients at the time of the sale to a third party for cash. The continuing impact of this transaction on the Company’s condensed financial statements is described in Note 2.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Effective October 14, 2023, the Company filed articles of amendment to the Company’s articles of incorporation to effect a one-for-twenty four (1:24) reverse split of the Company’s issued and outstanding shares of common stock. The reverse split became effective on Nasdaq October 16, 2023. All references to common stock, warrants and options except for the conditional preferred stock option granted in August 2023, to purchase common stock, including per share data and related information contained in the condensed consolidated financial statements have been retroactively adjusted to reflect the effect of the reverse stock split for all periods presented.</p>
CY2023Q4 us-gaap Revenues
Revenues
3800000 usd
CY2023Q4 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include:</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Continuation as a going concern; management assumes that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets and liquidation of all liabilities in the normal course of business</p></td></tr><tr style="height:15px"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Liability for legal contingencies</p></td></tr><tr style="height:15px"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Payroll tax and associated penalties and interest</p></td></tr><tr style="height:15px"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Impairment of long-lived assets</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">    </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties to these estimates or assumptions that are difficult to measure of value.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Management regularly reviews the key factors and assumptions to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience, and reasonable assumptions. After such valuation, if deemed appropriate, those estimates are adjusted accordingly.</p>
CY2023Q4 pixy Liquidity Capital Resources And Going Concernpolicytextblock
LiquidityCapitalResourcesAndGoingConcernpolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As of November 30, 2023, the Company had cash of $1.5 million and a working capital deficit of $54.4 million. During the three months ended November 30, 2023, the Company used approximately $0.6 million of cash from operations and incurred recurring losses, resulting in an accumulated deficit of $231.9 million. As of November 30, 2023, the Company is delinquent with respect to remitting payroll tax payments to the IRS, states and local jurisdictions. The Company has retained tax counsel and has been in near constant communication with the IRS regarding processing its Employee Retention Tax Credits (“ERTCs”).  As of September 14, 2023, the IRS has a moratorium on processing new ERTC claims and many of the Company’s clients are seeking refunds. Recently, the Company has filed ERTC claims for its clients and has not received any acceptance from the IRS. Some clients have filed suits against the Company, demanding that the Company take action to file for additional ERTCs for certain tax periods.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">   </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td style="width:4%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">ShiftPixy has  received notices of $11.9 million as of August 31, 2023 and notices relating to liens from the IRS claiming it owes approximately $9.0 million for unpaid payroll tax liabilities, including penalties and interest. The balances reported on such notices do not represent the full payroll tax liability of ShiftPixy as of November 30, 2023 and August 31, 2023, respectively. ShiftPixy expects its payroll tax liabilities, penalties and interest to increase in the future. Moreover, the IRS has threatened to take enforced collection against ShiftPixy, Inc. and ShiftPixy, potentially in addition to other subsidiaries.  ShiftPixy has taken steps to preserve so-called “collection due process rights” and present collection alternatives to the proposed enforced collection actions(s).  Specifically:</p></td></tr><tr style="height:15px"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 30px; text-align:justify;"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">ShiftPixy had a collection due process hearing with the IRS Independent Office of Appeals on October 24, 2023. On October 24 and November 6, 2023, ShiftPixy requested that the IRS Independent Office of Appeals (“Appeals”), among other things, abate additions to tax and related interest for the failure to make required deposits and the failure to timely pay required tax. That request is pending before Appeals; and</p></td></tr><tr style="height:15px"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 30px; text-align:justify;"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><span style="font-family:symbol">·</span></p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">On October 27, 2023, the IRS issued to ShiftPixy a Letter 1058, <em>Final Notice, Notice of Intent to Levy and Notice of Your Right to a Hearing</em>, with respect to ShiftPixy's (a) Form 941 liabilities for the tax periods ending March 31, June 30, September 30, and December 31, 2022, and (b) Form 940 liabilities for the tax period ending December 31, 2022 (such liabilities, “ShiftPixy’s Liability That Are Subject to Enforced Collection”). On November 26, 2023, ShiftPixy timely filed a Form 12153, <em>Request for a Collection Due Process or Equivalent Hearing</em>, with respect to ShiftPixy's Liability That Are Subject to Enforced Collection. That Form 12153 requested, among other things, an abatement of additions to tax and related interest for the failure to make required deposits and the failure to timely pay required tax that are included within ShiftPixy’s Liability That Are Subject to Enforced Collection. That request is pending before the IRS Independent Office of Appeals. .</p></td></tr><tr style="height:15px"><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 30px; text-align:justify;"> </p></td><td><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p></td></tr><tr style="height:15px"><td colspan="2"><p style="font-size:10pt;font-family:times new roman;margin:0px">On December 12, 2023, the Company received a lien from the IRS. The IRS can levy the Company’s bank accounts.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">On January 12, 2024, ShiftPixy filed Form 12153 , <em>Request for a Collection Due Process or Equivalent Hearing</em>, with respect to ShiftPixy's Liability That Are Subject to Enforced Collection  </p></td></tr></tbody></table>Notwithstanding the above-described requests for a collection due process hearing, the IRS can determine the collectability of tax.  The IRS can, with limited notice, levy the Company’s bank accounts and subject it to enforced collection if ShiftPixy cannot obtain a resolution of the payroll tax issues, the United States Tax Court can (and will be asked to) review Appeals’ determination. There is no assurance that the IRS will abate penalties and interest currently assessed against ShiftPixy. If ShiftPixy is not successful getting the outstanding penalties, and or interest abated, including working out a payment plan with the IRS, it may cause ShiftPixy to file for bankruptcy protection in the near future. <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company has taken aggressive steps to reduce its overhead expenses. The Company has plans and expectations for the next twelve months include raising additional capital which may help fund the Company’s operations and seeking acquisitions targets funded by debt or stock by Company’s in staffing services as the key driver towards its success.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company expects to engage in additional sales of its securities during the next twelve months either through registered public offerings or private placements, the proceeds of which the Company intends to use to fund its operations. If these sources do not provide the capital necessary to fund the Company’s operations during the next twelve months, it may need to curtail certain aspects of its operations or expansion activities, consider the sale of additional assets at distressed prices, or consider other means of financing. The Company is also seeking acquisition targets funded by debt and stock, for growth, a recurring revenue base, significant gross profit conversion, margin expansion opportunities, a light industrial sector focus, a blue-chip client base, cyclical tailwinds, and a tenured management team willing and able to execute a comprehensive integration plan. The Company can give no assurance that it will be successful in implementing its business plan and obtaining financing on advantageous terms, or that any such additional financing will be available. These condensed consolidated financial statements do not include any adjustments for this uncertainty. See Note 11, Contingencies for litigation with IHC. If the Company is not successful with outstanding litigation, this could have a material cash flows requirement and a negative impact on ShiftPixy’s operations and working capital. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Under the existing accounting guidance, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the condensed consolidated financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented as of the date the consolidated financial statements are issued. When substantial doubt is determined to exist, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans; however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date the condensed  consolidated financial statements are issued, and (2) it is probable that the plans, when implemented, may mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the condensed  consolidated financial statements are issued. Therefore, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern for the next twelve months from the date of the issuance of the condensed consolidated financial statements.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Historically, the Company’s principal source of financing has come through the sale of the Company’s common stock, including in certain instances, warrants and the issuance of convertible notes.</p>
CY2023Q4 us-gaap Cash
Cash
1500000 usd
CY2023Q4 pixy Working Capital Deficit
WorkingCapitalDeficit
54400000 usd
CY2023Q4 pixy Net Cash Provided By Used In Operating Activities Continuing Operation
NetCashProvidedByUsedInOperatingActivitiesContinuingOperation
-600000 usd
CY2023Q4 pixy Retained Earning Accumulated Deficit
RetainedEarningAccumulatedDeficit
231900000 usd
CY2023Q4 pixy Received Payroll Tax Liabilities
ReceivedPayrollTaxLiabilities
11900000 usd
CY2023Q4 pixy Unpaid Payroll Tax Liabilities
UnpaidPayrollTaxLiabilities
9000000.0 usd
CY2023Q4 pixy Staffing Solutions Policytextblock
StaffingSolutionsPolicytextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company records gross billings as revenues for its staffing solutions clients. The Company is primarily responsible for fulfilling the staffing solutions services and has discretion in establishing price. The Company includes payroll costs in revenues with a corresponding increase to cost of revenues for payroll costs associated with these services. As a result, the Company is the principal in this arrangement for revenue recognition purposes.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><em>EAS Solutions / HCM</em> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Employment administrative service or EAS solutions “EAS” and Human Capital Management “HCM” revenues are primarily derived from the Company’s gross billings, which are based on (i) the payroll cost of the Company’s worksite employees (“WSEs”) and (ii) an administrative fee and (iii) if eligible, WSE can elect certain pass-through benefits. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Gross billings are invoiced to each EAS and HCM client, concurrently with each periodic payroll. Revenues are offset by payroll cost component and pass through costs which are presented on a net basis for revenue recognition. WSEs perform their services at the client's worksite. The Company assumes responsibility for processing and remitting payroll to the WSE and payroll related obligations, it does not assume employment-related responsibilities such as determining the amount of the payroll and related payroll obligations. Revenues that have been recognized but not invoiced are included in unbilled accounts receivable on the Company’s condensed consolidated balance sheets were $1.7 million and $1.8 million, as of November 30, 2023 and August 31, 2023, respectively. Payments received by clients in advance of the due date of an invoice are recorded as liability. As of November 30, 2023 and  August 31, 2023. the Company recorded a liability for advance payments of $0.4 million and $0.2 million, respectively, is included in accounts payable and other liabilities on the condensed balance sheets.</p>
CY2023Q4 pixy Unbilled Contract Receivable
UnbilledContractReceivable
1700000 usd
CY2023Q3 pixy Unbilled Contract Receivable
UnbilledContractReceivable
1800000 usd
CY2023Q4 pixy Accounts Payable And Other Liabilities
AccountsPayableAndOtherLiabilities
400000 usd
CY2023Q3 pixy Accounts Payable And Other Liabilities
AccountsPayableAndOtherLiabilities
200000 usd
CY2022Q4 us-gaap Revenues
Revenues
5300000 usd
CY2023Q4 pixy Worksite Employee Payroll Cost
WorksiteEmployeePayrollCost
7300000 usd
CY2022Q4 pixy Worksite Employee Payroll Cost
WorksiteEmployeePayrollCost
10200000 usd
CY2023Q4 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company maintains cash with a commercial bank, which is insured by the Federal Deposit Insurance Corporation (“FDIC”). At various times, the Company has deposits in this financial institution in excess of the amount insured by the FDIC. The Company has not experienced any losses related to these balances and believes its credit risk to be minimal. As of November 30, 2023, and August 31, 2022, there was $1.9 million and $0.0 million, respectively, of cash on deposit in excess of the amounts insured by the FDIC.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The following represents clients who have ten percent of total accounts receivable as of November 30, 2023, and August 31, 2023, respectively. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="6" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>As of</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>November 30, </strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2023</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>August 31, </strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2023</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Client 1</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">50.8</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">64.5</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Client 2</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">38.4</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">23.6</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The following represents clients who have ten percent of gross revenues for the three months ended November 30, 2023, and November 30, 2022, respectively.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>November 30, </strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2023</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>November 30, </strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2022</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Client 1</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">18.6</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">0</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Client 2</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">15.5</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">10.6</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Client 3</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">11.7</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">7.7</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr></tbody></table>
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1900000 usd
CY2023Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
0.0 usd
CY2023Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
234182 shares
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
52640 shares
CY2022Q1 pixy Sharebased Compensation Arrangement By Sharebased Payment Award Expiration
SharebasedCompensationArrangementBySharebasedPaymentAwardExpiration
P6Y9M18D
CY2022Q3 pixy Sale Of Stock Placement Fee
SaleOfStockPlacementFee
0.070 pure
CY2023Q4 pixy Common Stock Shares Sold
CommonStockSharesSold
56250 shares
CY2023Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
26.40
CY2023Q4 pixy Pre Funded Warrants Sold
PreFundedWarrantsSold
38125 shares
CY2023Q4 us-gaap Advertising Expense
AdvertisingExpense
800000 usd
CY2022Q4 us-gaap Advertising Expense
AdvertisingExpense
700000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3358000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3400000 usd
CY2023Q4 pixy Amount Of Accumulated Depreciation And Amortization
AmountOfAccumulatedDepreciationAndAmortization
-1889000 usd
CY2023Q3 pixy Amount Of Accumulated Depreciation And Amortization
AmountOfAccumulatedDepreciationAndAmortization
-1778000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1469000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1622000 usd
CY2023Q4 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
100000 usd
CY2022Q4 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
100000 usd
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
358333 shares
CY2022Q3 pixy Stock Options Exercised Value
StockOptionsExercisedValue
4400000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.037 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.494 pure
CY2022Q1 srt Federal Funds Sold Average Yield
FederalFundsSoldAverageYield
0 pure
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P6Y8M12D
CY2023Q4 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
24360000 usd
CY2023Q3 us-gaap Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
17911000 usd
CY2023Q4 pixy Payroll Taxes Liabilities
PayrollTaxesLiabilities
23692000 usd
CY2023Q3 pixy Payroll Taxes Liabilities
PayrollTaxesLiabilities
22840000 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
212000 usd
CY2023Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
237000 usd
CY2023Q4 pixy Income Tax Penalties And Interest Accrued
IncomeTaxPenaltiesAndInterestAccrued
7910000 usd
CY2023Q3 pixy Income Tax Penalties And Interest Accrued
IncomeTaxPenaltiesAndInterestAccrued
6518000 usd
CY2023Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
31814000 usd
CY2023Q3 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
29595000 usd
CY2023Q4 pixy Accrued Interest And Penalties On Payroll Taxes Current
AccruedInterestAndPenaltiesOnPayrollTaxesCurrent
7900000 usd
CY2023Q3 pixy Accrued Interest And Penalties On Payroll Taxes Current
AccruedInterestAndPenaltiesOnPayrollTaxesCurrent
6500000 usd
CY2023Q4 pixy Elinquent Payroll Taxes Outstanding
elinquentPayrollTaxesOutstanding
23700000 usd
CY2023Q3 pixy Elinquent Payroll Taxes Outstanding
elinquentPayrollTaxesOutstanding
22800000 usd
CY2023Q4 pixy Unpaid Tax Liabilities
UnpaidTaxLiabilities
11800000 usd
CY2023Q4 pixy Sale Of Pre Funded Warrants Price Per Share
SaleOfPreFundedWarrantsPricePerShare
26.39
CY2023Q4 pixy Common Warrants Sold
CommonWarrantsSold
94375 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0024
CY2023Q4 pixy Proceeds From Sale Of Stock
ProceedsFromSaleOfStock
2000000.0 usd
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
138309 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M6D
CY2023Q4 pixy Class Of Warrant Or Right Exercise Price Of Warrant Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantOrRights1
208.78
CY2023Q4 pixy Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
94375 shares
CY2023Q4 pixy Class Of Warrant Or Right Weighted Average Remaining Life Issued
ClassOfWarrantOrRightWeightedAverageRemainingLifeIssued
P5Y4M24D
CY2023Q4 pixy Class Of Warrant Or Right Weighted Average Exercise Price Issued
ClassOfWarrantOrRightWeightedAverageExercisePriceIssued
30.50
CY2023Q4 pixy Class Of Warrant Or Right Cancelled Or Forfeited
ClassOfWarrantOrRightCancelledOrForfeited
-5 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
232679 shares
CY2023Q4 pixy Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstanding
P5Y3M18D
CY2023Q4 pixy Weighted Average Exercise Price Outstanding
WeightedAverageExercisePriceOutstanding
131.47
CY2023Q4 pixy Class Of Warrant Or Right Shares Exercisable
ClassOfWarrantOrRightSharesExercisable
138304 shares
CY2023Q4 pixy Weighted Remaining Life Years Exercisable
WeightedRemainingLifeYearsExercisable
P5Y3M18D
CY2023Q4 pixy Weighted Average Exercise Price Exercisable
WeightedAverageExercisePriceExercisable
157.06
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
232679 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P5Y3M18D
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
131.47
CY2023Q4 pixy Class Of Warrant Or Right Shares Exercisable
ClassOfWarrantOrRightSharesExercisable
138304 shares
CY2023Q4 pixy Weighted Average Life Of Outstanding Warrants In Years Exercisable
WeightedAverageLifeOfOutstandingWarrantsInYearsExercisable
P5Y3M18D
CY2023Q4 pixy Weighted Average Exercise Price Exercisable
WeightedAverageExercisePriceExercisable
157.06
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
30955 shares
CY2023Q4 pixy Stock Based Compensation Expenses
StockBasedCompensationExpenses
200000 usd
CY2022Q4 pixy Stock Based Compensation Expenses
StockBasedCompensationExpenses
300000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
417 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
19528.80
CY2023Q4 pixy Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Option Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionForfeitedNumberOfShares
122 shares
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
295 shares
CY2023Q4 pixy Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Options Forfeited Weighted Average Remaining Contractual Term C6
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageRemainingContractualTermC6
P6Y7M6D
CY2023Q4 pixy Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstandings Weighted Average Exercise Price F
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingsWeightedAverageExercisePriceF
11581.79
CY2023Q4 pixy Share Based Compensation Arrangement By Share Based Payment Award Options Exercisables
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisables
242 shares
CY2023Q4 pixy Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Options Forfeited Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageRemainingContractualTerm
P6Y7M6D
CY2023Q4 pixy Share Based Compensation Arrangement By Share Based Payment Award Options Exercisables Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisablesWeightedAverageExercisePrice
11707.64
CY2023Q4 pixy Number Of Options Outstanding Outstanding In Shares
NumberOfOptionsOutstandingOutstandingInShares
295 shares
CY2023Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
242 shares
CY2023Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y7M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11707.64
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
315 shares
CY2023Q4 pixy Share Based Payment Arrangement Option Exercise Price Range Vested Weighted Average Remaining Contractual Term
ShareBasedPaymentArrangementOptionExercisePriceRangeVestedWeightedAverageRemainingContractualTerm
P6Y7M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
11581.79
CY2023Q4 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
10000 usd
CY2022Q4 us-gaap Administrative Fees Expense
AdministrativeFeesExpense
8000 usd
CY2023Q4 us-gaap Legal Fees
LegalFees
400000 usd
CY2022Q4 us-gaap Legal Fees
LegalFees
400000 usd
CY2023Q4 pixy Operating Leases Impairment Loss
OperatingLeasesImpairmentLoss
380000 usd
CY2023Q4 pixy Contingent Liability
ContingentLiability
3800000 usd
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
136000 usd
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
256000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1064000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1099000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
719000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
563000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
381000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
32000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3858000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
405000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3453000 usd
CY2023Q4 pixy Weighted Average Remaining Lease Term Operating Leasesterm
WeightedAverageRemainingLeaseTermOperatingLeasesterm
P55M
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0554 pure
CY2023Q4 pixy Impairment Expense
ImpairmentExpense
400000 usd
CY2022Q2 pixy Employee Retention Tax Credit And Interest Rate Amount
EmployeeRetentionTaxCreditAndInterestRateAmount
500000 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
7800000 usd
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
5600000 usd

Files In Submission

Name View Source Status
pixy-20231130_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
pixy-20231130_pre.xml Edgar Link unprocessable
pixy-20231130_lab.xml Edgar Link unprocessable
pixy-20231130_def.xml Edgar Link unprocessable
0001477932-24-000315-index-headers.html Edgar Link pending
0001477932-24-000315-index.html Edgar Link pending
0001477932-24-000315.txt Edgar Link pending
0001477932-24-000315-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pixy-20231130.xsd Edgar Link pending
pixy_10q.htm Edgar Link pending
pixy_ex311.htm Edgar Link pending
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