v2.4.1.9
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Nov. 30, 2015
May 31, 2015
Current Assets:    
Cash and equivalents $ 1,040,939us-gaap_CashAndCashEquivalentsAtCarryingValue $ 19,194us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable, net 22,944,887us-gaap_AccountsReceivableNetCurrent 18,759,616us-gaap_AccountsReceivableNetCurrent
Deferred financing, net 1,838,474us-gaap_DeferredFinanceCostsCurrentNet 1,151,434us-gaap_DeferredFinanceCostsCurrentNet
Prepaid expenses and other current assets 993,993us-gaap_PrepaidExpenseCurrent 1,023,453us-gaap_PrepaidExpenseCurrent
Total Current Assets 26,818,293us-gaap_AssetsCurrent 20,953,697us-gaap_AssetsCurrent
Property and equipment, net 613,744us-gaap_PropertyPlantAndEquipmentNet 506,005us-gaap_PropertyPlantAndEquipmentNet
Goodwill 14,209,716us-gaap_Goodwill 8,399,786us-gaap_Goodwill
Intangible assets, net 12,552,253us-gaap_IntangibleAssetsNetExcludingGoodwill 10,568,862us-gaap_IntangibleAssetsNetExcludingGoodwill
Other assets 2,295,195us-gaap_OtherAssetsNoncurrent 1,903,905us-gaap_OtherAssetsNoncurrent
Total Assets 56,489,201us-gaap_Assets 42,332,255us-gaap_Assets
Current Liabilities:    
Accounts payable and accrued expenses 10,446,535us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 7,090,856us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Accounts payable and accrued expenses - related parties 50,000us-gaap_AccountsPayableRelatedPartiesCurrent 175,000us-gaap_AccountsPayableRelatedPartiesCurrent
Accrued payroll and taxes 5,165,872us-gaap_EmployeeRelatedLiabilitiesCurrent 4,015,594us-gaap_EmployeeRelatedLiabilitiesCurrent
Convertible notes payable, net 1,507,772us-gaap_ConvertibleNotesPayableCurrent 202,068us-gaap_ConvertibleNotesPayableCurrent
Promissory notes 3,109,304us-gaap_NotesPayableCurrent 1,646,442us-gaap_NotesPayableCurrent
Earn-out liabilities 1,579,690us-gaap_BusinessCombinationContingentConsiderationLiabilityCurrent 270,180us-gaap_BusinessCombinationContingentConsiderationLiabilityCurrent
Accounts receivable financing 14,788,001us-gaap_OtherShortTermBorrowings 13,015,618us-gaap_OtherShortTermBorrowings
Series A and B bonds payable, net 1,056,500us-gaap_SecuredDebtCurrent 1,086,400us-gaap_SecuredDebtCurrent
Other current liabilities 0us-gaap_OtherLiabilitiesCurrent 46,421us-gaap_OtherLiabilitiesCurrent
Total Current Liabilities 37,703,674us-gaap_LiabilitiesCurrent 27,548,579us-gaap_LiabilitiesCurrent
Dividends payable 149,670us-gaap_DividendsPayableCurrentAndNoncurrent 49,890us-gaap_DividendsPayableCurrentAndNoncurrent
Interest payable 165,539us-gaap_InterestPayableCurrentAndNoncurrent 123,832us-gaap_InterestPayableCurrentAndNoncurrent
Earn-out liabilities 1,201,044us-gaap_BusinessCombinationContingentConsiderationLiabilityNoncurrent 1,287,407us-gaap_BusinessCombinationContingentConsiderationLiabilityNoncurrent
Convertible notes payable, net 3,301,056us-gaap_ConvertibleNotesPayable 0us-gaap_ConvertibleNotesPayable
Promissory notes 3,834,354us-gaap_LongTermNotesPayable 3,820,487us-gaap_LongTermNotesPayable
Total Liabilities 46,355,337us-gaap_Liabilities 32,830,195us-gaap_Liabilities
Stockholders' Equity:    
Preferred stock, $0.00001 par value, 20,000,000 shares authorized; Series A Preferred Stock, 1,663,008 designated, $10.00 stated value, 1,663,008 and 0 shares issued and outstanding as of November 30, 2015 and May 31, 2015, respectively 17us-gaap_PreferredStockValue 17us-gaap_PreferredStockValue
Common stock, $0.00001 par value, 200,000,000 shares authorized; 4,891,320 and 4,573,360 shares issued and outstanding as of November 30, 2015 and May 31, 2015, respectively 49us-gaap_CommonStockValue 44us-gaap_CommonStockValue
Additional paid in capital 48,409,897us-gaap_AdditionalPaidInCapitalCommonStock 42,883,904us-gaap_AdditionalPaidInCapitalCommonStock
Accumulated other comprehensive income (loss) 49,163us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (27,479)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Accumulated deficit (39,599,520)us-gaap_RetainedEarningsAccumulatedDeficit (34,407,771)us-gaap_RetainedEarningsAccumulatedDeficit
Total Staffing 360 Solutions, Inc. Stockholders' Equity 8,859,606us-gaap_StockholdersEquity 8,448,715us-gaap_StockholdersEquity
Non-controlling interest 1,274,258us-gaap_MinorityInterest 1,053,345us-gaap_MinorityInterest
Total Equity 10,133,864us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 9,502,060us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total Liabilities and Stockholders' Equity $ 56,489,201us-gaap_LiabilitiesAndStockholdersEquity $ 42,332,255us-gaap_LiabilitiesAndStockholdersEquity