ShiftPixy, Inc. (NASDAQ: PIXY)

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ShiftPixy Initiates Investigation of Suspicious Trading Activity in Its Stock Leveraging New Data and Legal Framework

Miami, FL –  May 18, 2023  – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or the “Company”), a Miami-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced it has engaged a registered broker dealer to review PIXY trading data and collaborate in filing FinCEN 314(b) suspicious activity reports (“SAR”) on its behalf.  Section 314(b) of the USA Patriot Act provides financial institutions with the ability to share information with one another, under a safe harbor that offers protections from liability, in order to better identify and report activities that may involve money laundering or terrorist activities. Information sharing pursuant to Section 314(b) is voluntary, and FinCEN strongly encourages financial institutions to participate.  The process can yield a number of useful outcomes:

 

  • Shedding more light upon overall financial trails, especially if they are complex and appear to be layered amongst numerous financial institutions, entities, and jurisdictions.
  • Alerting other participating financial institutions to trading entities of whose suspicious activities they may not have been previously aware.
  • Facilitating the filing of more comprehensive SARs than would otherwise be filed in the absence of 314(b) information sharing.

 

Section 314(b) and its implementing regulations impose no limitations on the sharing of personally identifiable information under the Section 314(b) safe harbor when otherwise consistent with Section 314(b) and its implementing regulations.  Nor do Section 314(b) or its implementing regulations impose restrictions on the type or medium of information that can be shared in reliance on the Section 314(b) safe harbor, such as video surveillance footage or cyber-related data such as IP addresses.  Section 314(b) information sharing can likewise be verbal as well as written.  Financial institutions and associations of financial institutions must maintain adequate procedures to protect the security and confidentiality of all information shared pursuant to Section 314(b) and only use such information for the purposes laid out in Section 314(b) and its implementing regulations.

 

ShiftPixy’s CEO Scott Absher said, “I have been tracking naked short selling patterns since we first listed.  We are now seeing algorithmic trading running wild as these trades appear to be run through a black box that is out-of-compliance with Regulation SHO and the Fair Market Making Requirement.  We are able to track trading activity in real time with Level ll data and DTC weekly reporting, and can now track the registered market makers conducting these trades, either as a proprietary transaction, on behalf of a client or via a sponsored or market access agreement.”  Mr. Absher went on to say, “We will be among the first to correlate monthly market maker share volume, daily short volume and share imbalance data within this legal framework strategy to identify and uncover suspicious trading activity on which we can follow up with appropriate legal action.”

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Forward-Looking Statements

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement.  Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy’s Innovative AI Solution Boosts Efficiency and Productivity in the Worker Acquisition Process 

 

Miami, FL – March 23, 2023 – ShiftPixy, Inc. (Nasdaq: PIXY) (“ShiftPixy” or the “Company”), a Miami-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the successful beta implementation of its AI-powered recruitment system, leveraging ChatGPT’s open API, designed to address the growing gap in opportunity matching and recruitment efficiency.

 

For an overview of ShiftPixy’s AI recruiting engagement, please view this video.

 

Current statistics reveal a significant gap in the recruitment industry, with recruiters receiving an average of 250 resumes for each open position, but only 12% of applicants meeting job requirements. With over 27 million workers seeking opportunities in the US alone according to Harvard Business School, the need for a more efficient recruitment process is paramount.

 

ShiftPixy’s AI recruiting system tackles this challenge head-on by meeting workers where they are, capturing and aligning the best candidates for each opportunity, and actively guiding workers through the hiring process to start their gig. The platform’s sophisticated automation effectively streamlines capturing, qualifying, screening, and deployment in the recruitment process. By continuously tracking and analyzing activity and data, ShiftPixy’s AI-driven recruiting platform is constantly learning and adapting to improve its effectiveness, leading to a more dynamic and efficient recruitment process for both job seekers and employers.

 

“There’s plenty of talk about how AI might do for business.  We are focused on what we can do today with a high value application for AI in our business flow and it is only getting better” said Scott Absher, Co-Founder and CEO of ShiftPixy.  “Our R&D has been to apply AI to human friction points in our human capital workflows.  Where people lack speed or attention to the detail, our machine process is highly personal, results focused and always reliable.”  Watch Scott Absher’s recent interview with Market Scale about how AI technology can boost efficiency in recruitment here.

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Forward-Looking Statements

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement.  Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy Announces Partnership with Allied Sports

– Teaming with agency to promote ShiftPixy Labs’ Digital Food Brands –

 

Miami, FL – March 07, 2023 – ShiftPixy, Inc. (NASDAQ: PIXY), a Florida-based national staffing enterprise that is facilitating employment in the rapidly growing Gig Economy with a revolutionary technology platform, today announced it has selected Allied Sports as its agency of record for influencer marketing and brand partnerships aimed at promoting the new Digital Food Brands of ShiftPixy Labs.

 

To learn more about ShiftPixy Labs, visit labs.shiftpixy.com.

 

“As ShiftPixy Labs supercharges the digital dining experience, we are looking for strategic partners to help us grow awareness and affinity for our portfolio of online- only restaurants,” said Scott Absher, Co-Founder and CEO of ShiftPixy. “The team at Allied Sports brings an impressive track record of identifying and executing successful partnership marketing campaigns which will be instrumental in driving engagement for our tech-first food brands.”

 

Allied Sports is a full-service agency leading modern marketers in the shift from Sponsor to Storyteller™. The agency was launched in 2019 by a leadership team that brings decades of experience helping create, negotiate, and activate some of the most innovative partnerships in sports, entertainment, and lifestyle marketing.

 

“We are excited to leverage our deep industry relationships and expertise across sports and entertainment as ShiftPixy Labs’ portfolio of brands take a bite out of the metaverse,” said Caitlin Gonzalez, Senior Vice President of Marketing Solutions at Allied Sports. “By aligning with fan favorite properties and content creators, ShiftPixy Labs can meet their target audiences where they are and deliver an innovative digital dining experience.”

 

ABOUT SHIFTPIXY

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ABOUT ALLIED SPORTS

 

Allied Sports launched in 2019 by bringing together award-winning leaders who have built and managed some of the largest sports marketing agencies in the world over the last two decades. Today, we are allies together in a nimble agency whose mission is to help modern marketers accelerate the shift from Sponsor to Storyteller™ – leveraging the promise of sports sponsorship to tell a story their audiences cannot ignore. To learn more, visit www.alliedsports.com or follow @AlliedSports on LinkedIn.

 

FORWARD-LOOKING STATEMENTS

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook,

 

Twitter, LinkedIn and YouTube.

Contacts

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com 800.475.3655

 

Source: Shiftpixy, Inc.

ShiftPixy Leverages OpenAI/ChatGPT to Streamline Recruiting and Staffing Opportunity Matching

– Also Elevating Digital Food Ordering and Customer Engagement for Digital Food Brands –

 

Miami, FL –  February 24, 2024 – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or “the Company”), a Miami-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced plans for the integration of OpenAI’s powerful language model, ChatGPT, into its platform to streamline recruiting and opportunity matching for staffing efforts, a move that is set to revolutionize the way ShiftPixy finds, hires, and retains its national workforce.

 

This integration within the ShiftPixy platform will leverage ChatGPT’s advanced natural language processing capabilities to instantly analyze worker experience, job descriptions, and other candidate-related data, enabling ShiftPixy to match the best candidates for open client positions faster and more efficiently, all in real-time.

 

In addition to the Company’s national staffing platform, ShiftPixy Labs’ use of OpenAI will also enhance the Company’s digital brands to elevate digital food ordering and customer engagement. ChatGPT will help ShiftPixy Labs understand and respond to customer queries, feedback, and preferences more effectively, leading to improved customer satisfaction and retention rates.

 

“Integration with OpenAI’s ChatGPT will be a significant milestone for us,” said Scott Absher, Co-Founder and CEO of ShiftPixy. “Our early work with AI was applied to worker and open shift matching but now OpenAI has created an opportunity beyond just matching to streamline our ‘Fast Fill’ technology, eliminating the process friction of putting people to work faster. We are excited about the possibilities that this integration presents and believe that this will be a game-changer for the staffing industry. ShiftPixy’s platform on its own has been a powerful pivot in staffing industry technology, and this integration of OpenAI’s ChatGPT will take it to the next level. The company’s national staffing clients can expect faster fill rates and better worker engagement, leading to better outcomes for all stakeholders.”

 

ShiftPixy has also been beta testing OpenAI integration with its national clients to increase productivity and customer retention, the company is seeing positive results and looking forward to integrating it to its proprietary staffing platform.

 

For additional online viewing of our development video, please visit our YouTube channel here.

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Forward-Looking Statements

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement.  Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE:  ShiftPixy, In

ShiftPixy Labs Announces Development of Mobile Food Ordering Apps That Elevate Customer Engagement with Cutting-Edge Technology

Miami, FL –  February 16, 2023 – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the development of ordering apps designed to elevate customer engagement with Digital Food Brands (DFBs) – online-only restaurants that deliver to the customer doorstep.  The ShiftPixy Labs apps will be uniquely branded for each DFB, and through the use of cutting-edge technology will allow customers with just a few clicks to easily browse menus, customize orders, add special instructions, track their delivery status in real time, pay for their meals and earn loyalty points all from their mobile devices.  The new apps will be available for download on both iOS and Android devices.

 

Video here: https://youtu.be/Xwuk88JaI0U

 

“What sets our apps apart from the competition is the use of artificial intelligence and machine learning to personalize the customer experience,” said ShiftPixy Co-Founder and CEO, Scott Absher.  “By analyzing past ordering history and preferences, and through a short chat with our brand characters within the app, the AI bot will present a few suggested menu items tailored specifically to each individual customer along with available deals with each order.”

 

Each DFB’s individual app will have its own unique brand identity and harness a powerful loyalty program, such that each time a customer places an order, a portal to a “mini game” will be activated for 40 minutes, allowing the customer to play and earn loyalty points that can be redeemed for a variety of rewards, such as discounts on future orders, free menu items, early access to new menu items and promotions, and merchandise.

 

Importantly, all ShiftPixy Labs Digital Food Brands will embrace first-party (restaurant-branded) delivery to make certain the entire cycle of customer engagement is protected and consistent, and customers will be able to reach ShiftPixy’s support team via the chatbot at any time after an order has been placed.

 

Mr. Absher added, “Our mobile technology focus has been on a complete end-to-end customer experience. Starting with customer acquisition, to food ordering, to delivery, to a gamified treat post order, leading to customer loyalty and re-marketing.  We believe that our new food ordering apps will engage customers through a personal digital experience that will keep them brand connected.”  Mr. Absher continued by saying that “Great tech only succeeds if it is linked to great products.  We think that our many months of market R&D and cuisine preparation even down to sustainable packaging design will delight our target customers for our portfolio of brands.”

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Forward-Looking Statements

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement.  Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy Highlights Quelliv Incubation Process & Offering

Miami, FL – October 6,2022 – ShiftPixy, Inc. (Nasdaq: PIXY) (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today discusses the Quelliv incubation process at ShiftPixy and ShiftPixy Labs.  As announced on October 4, 2022, through ShiftPixy Labs which is designed to take a unique business idea from concept through to mass commercialization, the Company completed the successful incubation launch of Quelliv Inc. low level laser centers.

 

The incubation process at ShiftPixy Labs starts with a deep dive into commercial market potential.  The teams then pull together extensive research and financial analysis to build out the business plan.  The plan becomes the foundation for framing the investor case for the new business for which the teams compile all the documents and work flows to bring in investor participation.

 

The result is a near term public offering to bring the business to the capital markets for continued growth capital formation.  The Quelliv project is being position for a capital markets entry in early 2023. They are targeting 500 stores for rollout within the next 24 months. Major influencers like Tony Robbins, and professional athletic trainers have commented on their positive experience using the Quelliv laser technology.

 

In ShiftPixy Labs’ operation we work through the consumer engagement process and build the mobile technology for the specific demographic target, delivering the value of the product or service.  The team builds a very sticky connection through the mobile customer application that is designed to elevate customer engagement and sharpen remarketing opportunities.

 

“Quelliv will be another great use case for the ShiftPixy Labs.  This is the first in a number of opportunities we are evaluating to apply our unique business tools.  Our ultimate goal is to elevate great ideas and maximize monetization,” said ShiftPixy Co-Founder and CEO, Scott Absher.  “We expect to create a number of opportunities for equity interests in these types of engagements that will flow to ShiftPixy shareholders as dividends”.

 

To learn more, please visit www.quelliv.com and labs.shiftpixy.com.

 

About Quelliv

 

Quelliv was designed to introduce a proprietary, high value and high efficacy photobiomodulation technology trained to address a number of biological applications in the wellness market’s highest demand subsectors. Quelliv’s trained laser technology is uniquely applied to anti-aging, weight management, pain management and scalp rejuvenation.  The Company has launched its initial four south Florida locations with two additional locations coming online in Q4 2022. The Company plans to launch a national rollout to major metro markets in Q1 of 2023 with a goal of 500 company owned locations throughout the US longer term.

 

The company sells its Genesis One photobiomodulation equipment to professional and collegiate sports teams for rapid athlete recovery.

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 26 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Forward-Looking Statements

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement.  Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

Source: ShiftPixy, Inc.

ShiftPixy Announces Quelliv Incubation Launch

Miami, FL – October 4, 2022 – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the successful incubation launch of Quelliv Inc. low level laser centers which provide an effective, non-invasive therapeutic alternative to ease pain, reduce inflammation, enhance skin health, and activate personal well-being. Quelliv laser centers are powered by industry leader Genesis One Lasers to ensure effective sessions with long-lasting results.

 

“After getting to know the science that powers Quelliv, we were very motivated to help incubate and position Quelliv for a very exciting growth journey,” said ShiftPixy Co-Founder and Chief Executive Officer, Scott Absher. “The incubation process for Quelliv is central to what ShiftPixy Labs does, from taking an initial idea through to funding and mass commercialization. Quelliv is another example of our active engagement process and quest to build large national clients for the unique ShiftPixy platform.”

 

Quelliv CEO Mike Keyes said, “I have spent a lot of time over the past two years with the ShiftPixy Labs team since the formation of the company, building our business plan, fleshing out our brand, digging through the research and identifying our targeted national locations. The ShiftPixy Labs development team has purpose-built our mobile customer experience to better connect us with our customers and elevate their engagement with the Quelliv brand and experience.”

 

Quelliv plans to craft a national footprint of 500 centers within twenty-four months of launch, and its first phase of laser centers are already available in Florida at the following locations:

 

West Palm Beach – 1411 N. Flagler Drive, Ste. 4700, West Palm Beach, FL 33401

Naples – 851 5th Ave. North, Ste. 301, Naples, FL 34102

St. Petersburg – 150 2nd Ave. N, Ste 425, St Petersburg, FL 33701

 

Upcoming Locations:

 

Aventura – 18999 Biscayne Blvd, Suite 205, Aventura, FL 33180

Sarasota – 6524 University Parkway, Sarasota, FL 34240

 

Upcoming Markets:

 

Nashville; Charlotte; Atlanta; Raleigh Durham; Oklahoma City; Dallas; Austin; Newport Beach

To learn more about Quelliv please visit www.quelliv.com

 

About Quelliv

 

Quelliv was designed to introduce a proprietary, high value and high efficacy photobiomodulation technology trained to address a number of biological applications in the wellness market’s highest demand subsectors. Quelliv’s trained laser technology is uniquely applied to anti-aging, weight management, pain management and scalp rejuvenation.  The Company has launched its initial four south Florida locations with two additional locations coming online in Q4 2022. The Company plans to launch a national rollout to major metro markets in Q1 of 2023 with a goal of 500 company owned locations throughout the US longer term.

 

The company sells its Genesis One photobiomodulation equipment to professional and collegiate sports teams for rapid athlete recovery.

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Forward-Looking Statements

 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement.  Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

Source:  ShiftPixy, Inc.

ShiftPixy Announces Plans to Spin-off ShiftPixy Labs and Dividend its Digital Securities to Shareholders

Miami, FL – September 8, 2022 – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or “the Company”), a  Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced plans to transfer ShiftPixy Lab’s Virtual Brand development pipeline and technology stack to a wholly-owned subsidiary, ShiftPixy Labs, Inc., which will then be dividended to ShiftPixy shareholders, using a record date of September 8, 2022. The spin-off transaction will be subject to various conditions, including the Company’s ability at the time of distribution to comply with applicable Wyoming law, and ShiftPixy Labs, Inc.’s meeting the qualifications for future listing on the Blockchain-powered Securities Exchange Upstream, and if successful, would eventually result in two standalone public companies. Management’s intention is to publicly list ShiftPixy Labs, Inc. via an initial public offering on both NASDAQ and Upstream during October 2022.

 

“Immediately on the heels of our exciting announcement of plans to dual list ShiftPixy shares on Upstream, our planned spinoff of ShiftPixy Labs is yet another example of our strategy to bring additional value to our shareholders,” said Scott W. Absher, Chairman and Chief Executive Officer of ShiftPixy. “Since the inception of ShiftPixy Labs, we have made significant progress in developing tech-forward solutions that are nearly ready for launch, including Web3 innovations to support our virtual brand’s development. The planned spin-off will allow both ShiftPixy and ShiftPixy Labs to focus resources on the development of their respective initiatives to create even greater opportunity for product development success.”

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce.  With expertise rooted in management’s nearly 26 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

About Upstream

 

Upstream, a MERJ Exchange Market, is a fully regulated global stock exchange for digital securities and NFTs. Powered by Horizon’s Ethereum-L2 matching engine technology, the platform enables users to trade NFTs, and invest in securities for IPOs, crowdfunded companies, U.S. & international equities, and celebrity ventures using the Upstream app. For more information, please visit https://upstream.exchange. Upstream is currently accepting applications to dual list at https://upstream.exchange/GetListed.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. These forward-looking statements are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Although such forward-looking statements are based upon what our management believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks that AXH’s initial business combination is not completed in a timely manner; risks associated with the nature of our business model; our ability to execute our vision and growth strategy; our ability to form ongoing, profitable relationships with Industrial Human Capital; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K, filed on December 3, 2021, as amended, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These documents, including the sections therein entitled “Risk Factors,” identify important factors that could cause actual results to differ materially from those contained in forward-looking statements. All of our forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. We undertake no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect our financial results is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, we are alerting investors and other members of the general public that we will provide updates on operations and progress required to be disclosed under Regulation FD through the Company’s social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in us are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy Announces Application for Dual Listing on Upstream

Miami, FL – September 7, 2022 – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or “the Company”), a  Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced that it has begun the application process to dual list its shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex (“Horizon”) and MERJ Exchange Limited (“MERJ”).

 

The planned dual listing on Upstream is designed to provide ShiftPixy the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in NASDAQ-listed ShiftPixy.

 

Commenting on the application to list on Upstream, Scott W. Absher, Chairman and Chief Executive Officer of ShiftPixy, said, “We continually seek to leverage cutting-edge capabilities in all we do, and we envision a dual-listing on Upstream providing ShiftPixy with the very latest approach in terms of access to worldwide capital markets and the technology to reach countless potential new investors who can learn about our many exciting growth-oriented endeavors.”

 

Approval to be listed on Upstream is subject to acceptance by MERJ. However, as an existing NASDAQ issuer, the listing standards to which ShiftPixy adheres are sufficient to comply with MERJ Listing Rules, including but not limited to disclosure, filing and notification requirements.

 

About Upstream

 

Upstream, a MERJ Exchange Market, is a fully regulated global stock exchange for digital securities and NFTs. Powered by Horizon’s Ethereum-L2 matching engine technology, the platform enables users to trade NFTs, and invest in securities for IPOs, crowdfunded companies, U.S. & international equities, and celebrity ventures using the Upstream app. For more information, please visit https://upstream.exchange. Upstream is currently accepting applications to dual list at https://upstream.exchange/GetListed.

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce.  With expertise rooted in management’s nearly 26 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. These forward-looking statements are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Although such forward-looking statements are based upon what our management believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks that AXH’s initial business combination is not completed in a timely manner; risks associated with the nature of our business model; our ability to execute our vision and growth strategy; our ability to form ongoing, profitable relationships with Industrial Human Capital; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K, filed on December 3, 2021, as amended, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These documents, including the sections therein entitled “Risk Factors,” identify important factors that could cause actual results to differ materially from those contained in forward-looking statements. All of our forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. We undertake no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect our financial results is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, we are alerting investors and other members of the general public that we will provide updates on operations and progress required to be disclosed under Regulation FD through the Company’s social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in us are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy, Inc. Announces Special Distribution of Shares of Industrial Human Capital, Inc.

Miami, FL – May 13, 2022 – ShiftPixy, Inc. (NASDAQ: PIXY) (“ShiftPixy” or the “Company”), a  Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced that its Board of Directors (the “Board”) approved a special distribution to ShiftPixy shareholders in the form of shares of common stock of Industrial Human Capital, Inc. (NYSE: AXH), the special purpose acquisition company, or “SPAC”, in which ShiftPixy currently owns an approximate 15% ownership stake.  All ShiftPixy shareholders of record as of  May  17, 2022, will receive their pro rata share of AXH common stock equal in proportion to their percentage holdings of ShiftPixy common stock issued and outstanding, subject to certain conditions described below.  The exact number of shares of AXH common stock to be received by ShiftPixy shareholders for each share of ShiftPixy common stock will be determined immediately before the record date based on the number of shares of ShiftPixy common stock outstanding on an as-converted and as-exercised basis.  The AXH shares are expected to be distributed to eligible ShiftPixy shareholders as soon as practicable following the completion of AXH’s initial business combination, subject to a registration statement covering the AXH shares being declared effective by the Securities and Exchange Commission (“SEC”).  Fractional shares will not be issued, and no distributions will be made in lieu of fractional shares.  There is no assurance that AXH will be able to successfully complete its initial business combination, in which case AXH would cease all operations except for the purpose of winding up and the AXH common stock will be worthless.

 

ShiftPixy acquired the AXH shares subject to the special distribution as part of its financial sponsorship of AXH.  Pursuant to the terms of that transaction, ShiftPixy is permitted to divest these shares by whatever means it deems appropriate and in its best interests to ensure that it does not become an “investment company” subject to registration under the Investment Company Act of 1940 (the “1940 Act”).  ShiftPixy’s Board believes that the special distribution will enable the Company to avoid registration under the 1940 Act.

 

Payment of the special distribution will be subject to certain conditions, including: (i) consummation of AXH’s initial business combination; (ii) filing with the SEC of a registration statement covering the AXH common stock subject to the special distribution, which the SEC has declared effective; and (iii) a determination by the Board at the time of payment that the special distribution complies with all relevant provisions of Wyoming law. In addition, all shares subject to the special distribution shall be subject to transfer restrictions pursuant to lock up provisions agreed to by ShiftPixy and A.G.P./Alliance Global Partners (“AGP”), as representative of the underwriters of the AXH initial public offering, and AXH, that provide that such securities are not transferable or salable until one (1) year after the completion of the initial business combination, subject to certain exceptions, as described in the Registration Statement on Form S-1 filed by AXH with the SEC and declared effective on October 19, 2021.

 

ShiftPixy shareholders do not currently need to take any action to receive the special distribution of AXH common stock. Following the completion of AXH’s initial business combination, ShiftPixy shareholders will continue to hold, along with their new shares of AXH common stock, the same number of shares of ShiftPixy common stock they held immediately prior to the special distribution.

 

ShiftPixy shareholders are encouraged to consult with their financial and tax advisors regarding the specific implications of receiving the special distribution.

 

About ShiftPixy

 

ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce.  With expertise rooted in management’s nearly 26 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. These forward-looking statements are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Although such forward-looking statements are based upon what our management believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed special distribution; the risk that any necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated; risks that AXH’s initial business combination is not completed by October 22, 2022; risks that the anticipated tax treatment of the proposed distribution is not obtained; risks related to litigation brought in connection with the proposed special distribution; risks associated with the nature of our business model; our ability to execute our vision and growth strategy; our ability to form ongoing, profitable relationships with Industrial Human Capital; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K, filed on December 3, 2021, as amended, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. These documents, including the sections therein entitled “Risk Factors,” identify important factors that could cause actual results to differ materially from those contained in forward-looking statements. All of our forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. We undertake no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect our financial results is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, we are alerting investors and other members of the general public that we will provide updates on operations and progress required to be disclosed under Regulation FD through the Company’s social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in us are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:

InvestorRelations@shiftpixy.com

800.475.3655

 

SOURCE: SHIFTPIXY, INC.

ShiftPixy Announces Launch of Groundbreaking SPAC Offering

– Proceeds to build light industrial staffing industry roll-up –

 

– Potentially adds substantial scale to the ShiftPixy platform –

 

– Targeting a 100,000 employee collective into the ShiftPixy ecosystem –

 

Miami, FL – October 25, 2021 — ShiftPixy, Inc. (NASDAQ: PIXY), a  Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy,  today announced the successful completion of the initial public offering (“IPO”) of the common stock of Industrial Human Capital, Inc. (“IHC”), a Special Purpose Acquisition Companies (SPAC) sponsored by ShiftPixy through its wholly-owned subsidiary, ShiftPixy Investments, Inc.  Pursuant to the IPO, IHC sold 11,500,000 units to the public at a price of $10 per unit, with each unit consisting of one share of IHC common stock and one redeemable warrant, with each whole warrant exercisable to purchase one share of IHC common stock at a price of $11.50 per share, subject to adjustment.    This includes the exercise in full by the underwriters of their over-allotment option to purchase up to an additional 1,500,000 units. The units are listed on the New York Stock Exchange (“NYSE”) and began trading under the ticker symbol “AXHU” on October 20, 2021.

 

Once the securities comprising the units begin separate trading, the common stock and the warrants are expected to be listed on the NYSE under the symbols “AXH” and “AXHW,” respectively.   ShiftPixy hopes to enter into client service agreements with Industrial Human Capital to supply its human capital needs, which ShiftPixy believes will lead to assembly of one of the largest ever light industrial staffing collectives in the market.

 

“The ShiftPixy platform was designed to rapidly scale and support high staffing industry volumes, and we see an opportunity to leverage the ShiftPixy technology platform to underpin what we anticipate will be a significant consolidation event for the industry,” said ShiftPixy Co-Founder and CEO Scott Absher. “The potential impact on ShiftPixy’s income, profits and asset value is extraordinary and the culmination of a great deal of innovation and years of hard work.”

 

ShiftPixy expects that entry into client service agreements with Industrial Human Capital provide an opportunity for increased annual revenue of as much as $1 billion, and accretive pre-tax annual earnings of $50 million.

 

About ShiftPixy

 

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy Announces Partnership with Washington Hospitality Association

– More than 300,000 restaurant and hospitality employees to enter ShiftPixy ecosystem –

 

– Partnership brings sophisticated operating platform to workers across the State –

 

Irvine, CA – September 9, 2020 –  ShiftPixy, Inc. (NASDAQ: PIXY), a gig engagement platform provider, today announced a new partnership with the Washington Hospitality Association, the state’s leading hospitality trade group representing more than 6,000 members, and supporting more than 300,000 restaurant and hospitality industry employees across the state of Washington.

 

“We are absolutely thrilled to join forces with the Washington Hospitality Association in one of our largest and most significant partnerships to date,” said ShiftPixy Co-Founder and CEO Scott Absher.  “The Washington Hospitality Association has historically demonstrated leadership and innovation in bringing vitality and leading-edge capabilities to the thousands of restaurant and hospitality operators across Washington State.  We see our new partnership as a natural extension of that forward-thinking mindset, and eagerly anticipate helping Washington Hospitality Association advance its core mission utilizing our sophisticated and scalable human capital platform.”

 

Discussing the new partnership, Washington Hospitality Association [CEO/President Anthony Anton] stated, “An important focus of ours is to keep our restaurant and hospitality operators agile and equipped with the latest tools to succeed.  We found the ShiftPixy platform to be exactly what we were seeking, especially during times such as these, when the ability to adapt to new market realities is of the utmost importance.  We’re excited to join forces with the ShiftPixy team and eagerly look forward to introducing the ShiftPixy ecosystem to our restaurant and hospitality operators and the thousands they employ across Washington State.”

 

About ShiftPixy

 

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

Source:  ShiftPixy, Inc.

ShiftPixy Announces New Alliance with US Wellness

– US Wellness to immediately place 9,000 nurses on the ShiftPixy platform –

– Near-term future plans expected to double scale –

 

Miami, FL – Aug. 24, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced an important nationwide alliance with US Wellness, a provider of employee wellness programs with a comprehensive suite of services designed to engage and inspire employees toward achieving their wellness goals.  Through the alliance, US Wellness will immediately place 9,000 of its nurses on the ShiftPixy human capital management platform, with near-term plans expected to double that staff volume.

 

“From its inception, ShiftPixy was designed to be rapidly scalable for high volume, fast moving companies such as US Wellness, and we are honored to help with their critical needs by bringing their valued employees onto our sophisticated platform,” said ShiftPixy Co-Founder and CEO Scott Absher. “We will be working diligently with our new partner to immediately on-board 9,000 members of the US Wellness team, followed by an expected additional 11,000 team members over the coming weeks.  We couldn’t be more excited to enter this important alliance and look forward to helping US Wellness achieve its vital corporate mission for years to come.”

 

“With ShiftPixy we saw an immediate opportunity to quickly scale our team and offer valuable benefits and protections to our national clinical staff. ShiftPixy offers us the tools we’ve been looking for to manage our rapid growth and better connect with our field staff,” said Tori Tomlinson, Founder and CEO of US Wellness.  “The ability to move quickly to meet the immediate and future demands for COVID-19 testing and other support services for employers was of the utmost important to us.  ShiftPixy was the natural choice. We are enthusiastic about this partnership and what it offers to us and our national staff of clinical professionals.”

 

About ShiftPixy

 

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

Source:  ShiftPixy, Inc.

ShiftPixy Announces Corporate Relocation to Miami, Florida

ShiftPixy Labs Ghost Kitchen also to be located in Miami area

 

IRVINE, Calif., Aug. 20, 2020 (GLOBE NEWSWIRE) — ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced that the Company will be relocating its corporate headquarters to the city of Miami, Florida. The relocation is part of ShiftPixy’s strategy, along with ShiftPixy Labs, to expand its business into the thriving East Coast restaurant industry.  Additionally, the Company is pleased to announce that the new ShiftPixy Labs Ghost Kitchen will also be located in the Miami area. The location was selected due to the Miami area’s rich and diverse food culture, which the Company expects to provide a strong customer base for both the Ghost Kitchen Incubator Project and the Incubator Contest. After the relocation, ShiftPixy’s Irvine, California office will remain open to continue serving the Company’s growing West Coast customer base.

 

“Since our launch in 2015, we’ve been proud to call the city of Irvine our home. Here, ShiftPixy has been able to build a strong customer base throughout the West Coast, and the Company’s beginnings in the great state of California will always be important to us,” said ShiftPixy Co-Founder and CEO Scott Absher. “With that said, we are excited to begin the Company’s next growth chapter in the thriving city of Miami.  Establishing our new headquarters in one of the East Coast’s largest cities will provide the perfect foothold from which to launch our expansion to cities up and down the Eastern Seaboard.”

 

Mr. Absher went on to say, “Miami has long been on our roadmap because of inquiries we have from operators in Europe and Latin America, and the city is ideal as our base not only for Eastern US expansion, but for new markets beyond our borders.  I’m also excited to be so close to our new Ghost Kitchen venture, and we look forward to sharing more exciting news and details in the coming weeks and months.”

 

Through ShiftPixy Labs, the Company expects to provide additional layers of services and engagement, from business start-up clear through to customer meal delivery. The new functionality builds on the traditional ShiftPixy gig engagement platform, which empowers restaurant operators to take full advantage of their human capital with cutting-edge tools to handle payroll, compliance and native delivery.

 

The Company’s new corporate address will be as follows:

 

501 Brickell Key Drive

Suite 300

Miami, Florida 33131

 

 

About ShiftPixy

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

SOURCE:  ShiftPixy

ShiftPixy Labs Announces Ghost Kitchen Incubator Contest

Irvine, CA – August 13, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today revealed its new contest program as part of the ShiftPixy Labs Ghost Kitchen Incubator Project. As an addition to the Company’s thrilling new Ghost Kitchen expansion, the contest will offer qualified chefs and restaurant operators the chance to earn a spot in the Incubator by pitching and testing new ideas with fully simulated ghost kitchen and delivery experiences. The contest as well as the Incubator Project will be streamed on YouTube, providing the Company and all participants with an elevated platform for a global audience.

 

With the restaurant industry experiencing a seismic shift towards ghost kitchens and delivery-centric business models, it’s more important than ever for operators to learn how to succeed using these concepts. The services provided by the ShiftPixy Labs Incubator Project are designed to prepare operators to launch new businesses — and coach them on how to build and optimize their businesses around delivery and off-premises dining from the ground up.

 

“At our core, ShiftPixy’s mission is about helping operators succeed. In today’s landscape, that means guiding them through the process of running a strong ghost kitchen and delivery-based restaurant,” said ShiftPixy co-founder and CEO Scott Absher. “Our Ghost Kitchen Incubator Project will change the way restaurants are created and launched, and this new contest program opens that opportunity to a huge range of participants, which also gives us the chance to discover and partner with the exciting brands of tomorrow.  From culinary students with great ideas to aspiring restaurateurs trying to open their second restaurant, the Ghost Kitchen Incubator Contest is open to anyone who applies – and viewers around the world will be able to see how entrepreneurs can leverage ShiftPixy’s engagement and strategy. We look forward to sharing more news and information about these revolutionary programs in the coming weeks.”

 

Through ShiftPixy Labs, the Company expects to provide additional layers of services and engagement, from business start-up clear through to customer meal delivery. The new functionality builds on the traditional ShiftPixy gig engagement platform, which empowers restaurant operators to take full advantage of their human capital with cutting-edge tools to handle payroll, compliance and native delivery. Mr. Absher will be providing more information at NRN’s Restaurants Rise series of webinars, scheduled to take place August 18. The Company encourages interested parties to register for the event here.

 

About ShiftPixy

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

Source:  ShiftPixy, Inc.

ShiftPixy Introduces Ghost Kitchen Incubator Project

Irvine, CA –  Aug. 11, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the addition of its Ghost Kitchen Incubator Project to ShiftPixy Labs, the Company’s new suite of marketing and support services for quick service restaurant operators (QSRs). The Incubator Project represents a groundbreaking new approach to how aspiring restaurant operators take their ideas from inception to reality. Through this collaboration with ShiftPixy Labs, operators should gain valuable information and insights on how to launch their new businesses — and how to build and optimize around delivery and off-premise dining from the ground up. By building these relationships with budding restaurateurs, the Company expects to forge lasting partnerships that could open the door to further business opportunities.

 

The COVID-19 pandemic has fundamentally altered the restaurant industry, forcing QSRs to adjust their business models to meet the surging demand for off-premises dining. ShiftPixy’s Ghost Kitchen is designed to combine the Company’s industry-leading technology with a unique approach to physical space requirements to help QSRs pivot and address the new landscape.

 

“ShiftPixy Labs is an innovative and highly evolved approach that elevates our engagement with the QSR operator clients we support, especially during these very difficult market conditions,” said ShiftPixy co-founder and CEO Scott Absher. “The numbers are clear: Ghost kitchens and off-premises dining are here to stay, and are growing rapidly. If operators want to survive, they need to re-think their business processes, customer engagement and their approach to real estate. The ShiftPixy Labs Ghost Kitchen allows us not only to help our existing businesses but to discover and participate in the birth and growth of exciting new culinary concepts as well. We are positioned to add an innovative and highly valuable twist to the ghost kitchen movement and we look forward to sharing more details and exciting news in the coming weeks.”

 

Through ShiftPixy Labs, the Company expects to provide additional layers of services and engagement, from business start-up clear through to customer meal delivery. The new functionality builds on the traditional ShiftPixy gig engagement platform, which empowers restaurant operators to better leverage their human capital with cutting-edge technology tools to better navigate their way to profitability.

 

About ShiftPixy

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the COVID-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

SOURCE:  ShiftPixy

ShiftPixy Labs to Support the Rapid Rise of Ghost Kitchens

Invites restaurateurs to reimagine the traditional business model, leveraging sophisticated ShiftPixy technology

 

Irvine, CA – August 5, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today added additional commentary around last week’s groundbreaking launch of ShiftPixy Labs, a new suite of marketing and support services for quick service restaurant operators (QSRs).  The COVID-19 pandemic has proven a game-changer for QSRs, which are now embracing ghost kitchens in response to social distancing mandates.  New ghost kitchens have already raised more than $500 million in capital and are spreading quickly nationwide.  Euromonitor expects a $1 trillion market globally by 2030, which could replace up to half of all dine-in volume as early as 2022.  ShiftPixy aims to provide sophisticated technology to assist with all aspects of establishing and operating a successful ghost kitchen, and with the launch of ShiftPixy Labs last week, is inviting budding and established restaurant entrepreneurs alike to partner with ShiftPixy to drive their future success.

 

“ShiftPixy is introducing an innovative approach to physical space requirements, and a format that helps restaurant operators leverage our technology and human capital engagement platform to reimagine and test new ways of becoming better and more agile digital marketers,” said ShiftPixy Co-Founder and CEO Scott Absher.  “We look forward to sharing more in the coming days on the exciting opportunities ahead for restaurateurs across the U.S. to forge long-term vital partnerships with us.”

 

Through ShiftPixy Labs, the Company expects to provide additional layers of services and engagement, from business startup clear through to customer meal delivery.  The new functionality builds on the traditional ShiftPixy gig engagement platform that empowers restaurant operators to take full advantage of their human capital with cutting edge tools to handle payroll, compliance and native delivery.

 

About ShiftPixy

 

ShiftPixy (PIXY) provides a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; risks arising from the Covid-19 pandemic or any other events that could cause wide-scale business disruptions; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT: Investor.Relations@ShiftPixy.com 800.475.3655

 

Source:  ShiftPixy, Inc.

ShiftPixy’s Expertise in PPP Loans and CARES Act Benefits Ensures Positive Outcomes for Clients

Company’s deep compliance and labor law experience prevents damaging missteps

 

Irvine, CA –  May 28, 2020 – ShiftPixy, Inc.  (NASDAQ: PIXY), a California-based gig engagement platform provider today outlined, as part of its Restaurant Resilience Plan, how the Company’s compliance and labor law knowledge is helping client restaurant operators navigate the complex web of new regulations attached to Paycheck Protection Program (PPP) loans and other CARES Act benefits.

 

“PPP loans were a huge step in the right direction for restaurant operators – but improper reporting and handling could void the promised forgiveness small business owners are counting on, leaving them with potentially huge problems post COVID-19,” said ShiftPixy co-founder and CEO Scott W. Absher. “In order to help hundreds of our restaurant operator clients prepare and navigate these programs correctly, our team has become experts in these programs and their parameters, as an extension of our Restaurant Resilience Plan. We will be there to support our clients throughout and after this trying time.”

 

The PPP provides loans designed to provide an incentive for small businesses to keep workers on their payroll. The U.S. Small Business Administration will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

 

With ShiftPixy’s help, restaurant operators can focus on keeping their business running instead of getting bogged down with paperwork and complex legal hurdles. The Company’s unique gig engagement platform empowers restaurant operators to take full advantage of their human capital with powerful functionality to handle payroll, compliance and native delivery.

 

Any customer of a ShiftPixy partner can sign up for one of the Company’s weekly webinars hosted by co-founder Steve Holmes, at https://shiftpixy.com/webinar-covid19/.

 

About ShiftPixy

ShiftPixy (PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:

Amy Wang

amy.wang@shiftpixy.com

(949) 245-7291

 

Source:  ShiftPixy, Inc.

The Ick Factor: Why Restaurant Brands Need to Think Ahead

Use of third-party delivery sparks concern, highlights importance of native delivery

 

Irvine, CA – May 21, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced a new initiative as part of its Restaurant Resilience Plan, to help restaurants reclaim their brand and customer relationships via native delivery amid COVID-19. Consumers now have a heightened sensitivity regarding the safety of their food, and higher standards for the personnel delivering it. ShiftPixy’s native delivery solution enables restaurants to repurpose their own, food safety trained staff to facilitate deliveries, reclaim their brand and forgo their reliance on third-party platforms.

 

Today, many restaurants are reliant on third-party delivery partners, but the COVID-19 pandemic has sparked concern for multi-unit franchises and the brands they operate under, leading them to reevaluate who is managing their customer relationships. For operators now relying largely on off-premise orders, it’s more vital than ever for vetted employees, trained in social distancing standards and sanitation procedures, to deliver food to the end consumer.

 

“Through our ongoing conversations with leaders in the fast food industry, we’ve heard growing concern about who is bringing the consumers their food, and whether they are properly trained to represent the brand, particularly during the COVID-19 pandemic,” said ShiftPixy co-founder and CEO, Scott Absher. “Ultimately, it’s in the restaurant’s best interest, as well as the customer’s, for uniformed food safety trained employees of the brand itself to facilitate last-mile delivery.”

 

The coronavirus has affirmed the importance of native delivery, not only for the sake of restaurant operators’ profits, but in order for them to deliver a safe and superior customer experience and keep their staff employed during these difficult times. This reality is what inspired ShiftPixy’s Restaurant Resilience Plan.

 

ShiftPixy’s turn-key, end-to-end native delivery solution is available now to help restaurant operators repurpose their existing staff for deliveries, as well as establish a white-label online presence, eliminating all necessary reliance on third-party delivery partners. Ultimately, this approach to human capital, customer engagement and delivery will help restaurants retake control of their brand.

 

Any customer of a ShiftPixy partner can sign up for one of the Company’s weekly webinars hosted by co-founder Steve Holmes, at https://shiftpixy.com/webinar-covid19/.

 

About ShiftPixy

 

ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. Learn more at www.shiftpixy.com.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make.  The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets.  Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited.  The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.  The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:

Amy Wang

amy.wang@shiftpixy.com

(949) 245-7291

 

Source: ShiftPixy, Inc.

Del Taco Franchisee Partners with ShiftPixy to Combat COVID-19

Implements the ShiftPixy platform across 11 Del Taco restaurant locations

 

IRVINE, CA – May 14, 2020 – ShiftPixy (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced a partnership with Diamondback DTNM, LLC (DBA Del Taco), operator of 11 Del Taco restaurants in the Albuquerque, NM area, to comprehensively implement ShiftPixy’s disruptive platform across all locations in the face of the Coronavirus pandemic. The Del Taco franchisee is leveraging ShiftPixy’s end-to-end platform for human capital management and native delivery.

 

“The upheaval from COVID-19 has forced restaurants to re-think their approach to customers, employees and third-party alliances.  The folks at Diamondback understood that ShiftPixy was uniquely positioned to help solve critical issues forced on operators but also as leverage to thrive beyond the current crisis,” said Scott Absher, CEO and co-founder of ShiftPixy. “With the ShiftPixy platform, John Bissell and his team were able to quickly and effectively revamp their infrastructure to deploy native delivery, allowing them to focus on delivering a great food experience while also keeping the commissions they were losing and better engaging with their customers.”

 

With restaurants across the country facing unparalleled obstacles and forced to dramatically adapt, ShiftPixy recently announced its Restaurant Resilience Plan to give operators access to technology and services vital to their survival and ideal for once business reopens.

 

“We were already dissatisfied with our legacy providers, and like many other restaurant operators, the pandemic forced us to make integral choices quickly. ShiftPixy offered us the perfect mix of control and services to weather the storm,” said John Bissell, VP and COO of Diamondback. “We’ve saved significant time and capital and have elevated employee engagement. The native delivery solution, which we think is simply amazing, has allowed us to access customers we would not have otherwise reached while maintaining control of our brand.”

 

Once the largest Denny’s franchisee with 94 stores in their system, Dennis Ekstrom, former COO of QT and now CEO & President and John’s partner at Diamondback added, “ShiftPixy’s first to market solution is solving major human capital and customer engagement challenges in the restaurant industry.  Leadership across the restaurant industry should make this brave and smart move now, to not just survive today but to maximize their unit economics once the current crisis passes.”

 

Any restaurant interested in learning about how ShiftPixy is helping operators weather the pandemic can sign up for one of the Company’s weekly webinars hosted by co-founder Steve Holmes, at https://shiftpixy.com/webinar-covid19/

 

About ShiftPixy

 

ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. Learn more at www.shiftpixy.com.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make.  The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets.  Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited.  The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.  The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:

Amy Wang

amy.wang@shiftpixy.com

(949) 245-7291

 

SOURCE:  ShiftPixy

ShiftPixy Launches Comprehensive ‘Restaurant Resilience Plan’ to Support Restaurants through COVID-19 Pandemic

Irvine, CA – May 12, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced a new, organization-wide effort, called the “Restaurant Resilience Plan,” that is composed of product, operational, marketing and communication initiatives designed intently to support and catalyze restaurants across the U.S. to weather the current Coronavirus pandemic. Furthermore, the Restaurant Resilience Plan is devised to help restaurant operators leverage technology solutions to implement an infrastructure that allows for flexibility and maximization of employees, both during the pandemic and as businesses begin returning to normal operations.

 

“As a partner to restaurants across the country, we recognized the opportunity to support operators and their employees in their tireless and valiant effort to navigate the obstacles the current pandemic presents through this company-wide effort,” said Scott Absher, CEO and co-founder of ShiftPixy. “Just like our platform is designed for end-to-end engagement, the Restaurant Resilience Plan is our way of providing restaurants with the technology, services and support that they need both now and in the future.”

 

With its revolutionary platform, ShiftPixy offers restaurants the human capital management solutions to agilely deploy employee resources most effectively across digital ordering and native delivery, so they no longer have to sacrifice revenue to third-party services.

 

“We’re uniquely positioned to empower restaurants, so we feel it’s our duty to offer the Restaurant Resilience Plan so that restaurants can focus on their business of offering the best food experience,” concluded Absher.

 

The Restaurant Resilience Plan launched today and the company will be announcing additional initiatives and services in the coming days and weeks.

 

About ShiftPixy

ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. Learn more at www.shiftpixy.com.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make.  The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets.  Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited.  The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.  The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:

Amy Wang

amy.wang@shiftpixy.com

(949) 245-7291

 

Source:  ShiftPixy, Inc.

ShiftPixy Announces First International Expansion

Disruptive US-based gig engagement platform is launching in Canada; plans continued global expansion

 

IRVINE, CA – May 7, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced its first international expansion, ShiftPixy Canada, to meet the recent increased interest from multi-unit restaurant operators in Canada. The company is currently in the process of completing all the necessary registration in each of Canada’s ten provinces and plans to begin offering its end-to-end restaurant solution to Canadian customers as soon as that process is complete in the coming months. The company has established ShiftPixy Canada as a wholly-owned subsidiary.

 

With its $90 billion foodservice is industry, Canada represents ShiftPixy’s first international expansion, a continuation of the company’s aggressive growth strategy that has evolved from California only followed by nationwide service across the US. The company will continue its expansion to international markets that meet its criteria and are ripe for disruption in the restaurant industry.

 

As restaurants face an uncertain future globally, operators are seeking simple, digital solutions that can help them not only weather the storm but also better reinforce their business infrastructure. Furthermore, third-party delivery partners are eating into restaurants’ already thin margins. ShiftPixy’s human capital management, online ordering and native delivery services offer Canadian restaurants an all-in-one platform.

 

“Despite the uncertain time, we are very excited to be expanding to Canada and helping restaurants and operators there do what they do best – deliver a great food experience – while helping them grow their businesses,” said Scott Absher, CEO and co-founder of ShiftPixy. “ShiftPixy’s multi-lingual approach makes new market entry very quick, and we’re eager to continue our global expansion plans.”

 

In addition to Canada, ShiftPixy is working with relevant partners and regulators in nations throughout Latin America and Japan in order to meet the demand in those markets.

 

About ShiftPixy

 

ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. Learn more at www.shiftpixy.com.

 

ShiftPixy Cautionary Statement

 

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make.  The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets.  Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited.  The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.  The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:

Amy Wang

amy.wang@shiftpixy.com

(949) 245-7291.

 

Source:   ShiftPixy, Inc.

ShiftPixy Launches ‘Shifter Waitlist’, Helping Restaurant Workers Prepare for Post-COVID Life

– Innovative Waitlist addresses “What if they don’t come back?” –

 

– Displaced restaurant employees can register nationwide –

 

 Irvine, CA –  April 22, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the launch of its new ‘Shifter Waitlist’, allowing restaurant employees displaced by the coronavirus pandemic to sign up now for available work at restaurants when business restarts. ShiftPixy currently serves thousands of restaurant workers in markets across the country, and is rolling out its Shifter Waitlist to facilitate recovery plans for both employees and operators nationwide.

 

“We have heard from many multi-unit restaurant operators expressing the fear, ‘What if they don’t come back?’ when thinking about the employees they had to furlough,” said Scott Absher, CEO and co-founder of ShiftPixy.  “We moved ahead of schedule to open up the ShiftPixy platform for workers who are not currently connected with our clients, so that when the economy re-opens, our clients will have a ready pool of locally available workers to quickly rebuild their staff.”

 

ShiftPixy’s platform leverages AI-driven technology and the concept of gig work to elevate worker engagement in the restaurant space, offering greater flexibility between shift workers and operators with open shifts. “Previously, our platform was only open to active ShiftPixy clients to help run their operations, but now we have opened our waitlist feature so shift seekers can immediately start the process of boarding and qualifying for shift opportunities,” concluded Mr. Absher.

 

To join the ShiftPixy Shifter Waitlist, a furloughed worker need only:

 

  1. Download the ShiftPixy App from the Google Play or Apple App Store
  2. When prompted for your Worksite Code, click on “Don’t know your code?”
  3. Click the “I’m just looking for gigs” button
  4. Enter your information and submit by clicking “Get early access”

 

Despite today’s heightened levels of anxiety, the Shifter Waitlist takes aim at the certainty of emergence from this crisis. ShiftPixy is not only designed as a human capital management solution; it is also a means for restaurants to prepare their business to emerge even better once this crisis ends.

 

For more information or to join the Waitlist, visit www.ShiftPixy.com.

 

About ShiftPixy

ShiftPixy (NASDAQ: PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

SOURCE:  ShiftPixy, Inc.

ShiftPixy Helping Restaurants Build Digital Life Boats with Paycheck Protection Program

Launches initiative to help restaurants repurpose staff for delivery during COVID-19

 

Irvine, CA –  April 15, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the company’s initiative to catalyze digital infrastructure reinforcement and human capital management repurposing for multi-unit restaurant operators during the COVID-19 pandemic by leveraging the new Paycheck Protection Program small business loans. As some of the hardest hit businesses by the global pandemic, restaurants across the country have been forced to furlough or lay off most, if not all, of their employees in addition to closing their dining rooms. Further, many restaurants lacked the proper delivery infrastructure to adapt to the current environment. The rollout of the Paycheck Protection Program, offering two-year, forgivable loans, has created a unique opportunity – a life boat of sorts – for restaurants to invest in repurposing their staff to better serve delivery demand, which ShiftPixy is committed to immediately assist in implementing.

 

“Despite these difficult, unprecedented times, the PPP loan program offers a glimmer of hope for restaurants as these funds can offer operators the chance to rebuild their business even while their dining rooms are closed, by repurposing their dining staff as delivery drivers,” said Scott Absher, CEO and Co-founder of ShiftPixy. “At ShiftPixy, we understand the digital demands of such a drastic pivot and are committed to helping restaurants leverage their greatest asset – their staff – in a new way without having to eat into their revenues by paying third-party delivery commissions.”

 

While third-party delivery companies face uncertainty on both employee designation and increased demand, ShiftPixy is working with restaurants across the country to deploy their current staff as delivery drivers. In addition to avoiding unnecessary commissions, restaurants can maintain better brand control and ensure a better customer experience by repurposing staff for native delivery.

 

“Tough times don’t last, tough people do, and we’re helping restaurants showcase that,” Absher concluded.

 

For more information on PPP loans, visit www.sba.gov. To get in touch with ShiftPixy, go to www.ShiftPixy.com

 

About ShiftPixy

ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

Source:  ShiftPixy, Inc.

ShiftPixy Enables Restaurant Operators to Stay Connected to Customers through Self-Delivery During Coronavirus Pandemic

Irvine, CA –  March 20, 2020  – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today discussed the Company’s increased levels of inbound interest due to the current COVID-19 pandemic.

 

“As you can imagine, we are busy responding to many inquiries from most of the national brands, all of which are trying to keep their employees busy and connected to their store, and wish to use our self-delivery platform to stay connected with customers,” stated ShiftPixy’s co-founder and Chief Executive Officer, Scott Absher.  “In response to the pandemic, major cities including Los Angeles, New York City and Seattle have banned dine-in restaurants, restricting businesses to takeout and delivery exclusively. Using ShiftPixy’s driver management technology, restaurant operators can control delivery with their own staff without having to deal with the uncertainties of third-party delivery services. In partnership with ShiftPixy, these restaurants can train their staff to act as delivery drivers – repurposing their existing human capital while adjusting to the current needs of the marketplace.”

 

Mr. Absher concluded, “Coronavirus is hitting all aspects of society hard, and restaurants have had a particularly rough time.  Our technology provides a native delivery opportunity to allow multi-unit operators to remain operational in this very challenging environment.”

 

ShiftPixy’s platform includes two layers: the first revolves around building operators a robust, easy-to-use digital ordering platform that boosts customer engagement and spending, while the second handles driver management, intercepting online orders, finding a designated driver, creating a driver route, and communicating with the customer as the order is completed.

 

About ShiftPixy

ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement

The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make.  The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets.  Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited.  The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.  The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:

Amy Wang

amy.wang@shiftpixy.com

(949) 245-7291

 

Source:  Shiftpixy, Inc.

ShiftPixy Appoints Industry Veteran Christopher Sebes to Board of Directors

Irvine, CA –  February 10, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based staffing enterprise that designs, manages, and sells access to a disruptive, revolutionary HRIS platform that facilitates employment in the rapidly growing Gig Economy, today announced the appointment of restaurant technology pioneer Christopher Sebes to its board of directors. Mr. Sebes is a widely respected restaurant technology entrepreneur and Forbes Council Member who has dedicated his career to hospitality management and technology.

 

Mr. Sebes was the creator of Twenty20 Visual Systems, the first-ever Microsoft Windows POS company, and went on to become the CEO of Progressive Software. From there, he founded Xpient Solutions, for which he served as CEO for over a decade. As President of Xenial Inc., formerly Heartland Commerce until its acquisition by Global Payments in 2016, Sebes led the acquisition of several restaurant technology companies and exceeded Global Payments’ financial performance expectations. His work made Xenial a major competitor in restaurant and retail management technology.

 

“We are excited to have Christopher join the ShiftPixy team where he can share his seasoned industry insight and innovative vision for restaurant technology,” said Scott W. Absher, Chief Executive Officer of ShiftPixy.  “Christopher’s thought leadership on restaurant technology will not only provide strategic and product development guidance but will also help us shape our broader approach to the much larger client engagements coming to ShiftPixy as we continue our work toward creating shareholder value.”

 

About ShiftPixy
ShiftPixy (NASDAQ:PIXY) is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

 

ShiftPixy Cautionary Statement
The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make.  The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets.  Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited.  The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.  The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

Media Contact:
Amy Wang
amy.wang@shiftpixy.com(949) 245-7291

 

Source: ShiftPixy, Inc.

ShiftPixy Completes Recapitalization

Closes Contract Assignment Worth $20 Million –– Proceeds to Fund Operations through to Cash Flow Breakeven

 

Irvine, CA –  January 07, 2020 – ShiftPixy, Inc. (NASDAQ: PIXY), a California-based staffing enterprise that designs, manages, and sells access to a disruptive, revolutionary HRIS platform that facilitates employment in the rapidly growing Gig Economy, today announced the assignment of 60% of its contracted book of business for $20 million.  The Company expects proceeds to fully fund operations through to cash flow breakeven, including the ongoing successful development of its next-gen workforce platform, and to further fulfill its growth initiatives.  Given the Company’s early calendar year 2020 business outlook, its accelerating growth profile, and an enhanced focus on its most profitable customers resulting from the assignment, ShiftPixy expects to quickly replace the revenue stream and achieve cash flow breakeven by mid calendar year 2020.

 

“Our business continues to rapidly scale as reflected by our financial results reported last month, and this highly efficient recapitalization clearly demonstrates the substantial value we’re creating.  We decided to monetize a portion of our business that is not critical to our HRIS platform growth initiatives or has limited ‘upsell’ opportunities, yet still carries excellent value for other operators.  More importantly, the proceeds will enable our team to continue, and in fact accelerate, the incredible growth of our business in recent years,” said Scott W. Absher, Chief Executive Officer of ShiftPixy.  “With the additional capital, we look to increase our focus on even more profitable and technically engaged clients, and given our accelerating growth, within half a year we expect to fully rebuild our book of business.”  Mr. Absher concluded, “With this latest positive news, our team is even more energized as we all work together to create meaningful shareholder value.”

 

About ShiftPixy
ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. ShiftPixy’s complete HCM ecosystem is designed to manage regulatory requirements and compliance in such required areas as paid time off (PTO) laws, insurance and workers’ compensation, minimum wage increases, and the Affordable Care Act (ACA) compliance.

 

ShiftPixy Cautionary Statement
The information provided in this release includes forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy and financial markets. Statements made in connection with any guidance may refer to financial statements that have not been reviewed or audited. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD.  Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.

 

Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, ShiftPixy is alerting investors and other members of the general public that ShiftPixy will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in our Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

 

INVESTOR CONTACT:InvestorRelations@shiftpixy.com800.475.3655

 

Source: ShiftPixy, Inc.

About ShiftPixy

OUR PURPOSE IS TO BRING EFFICIENCY TO THE PART-TIME LABOR MARKETS

 

A NEXT-GEN PLATFORM FOR EMPLOYERS AND EMPLOYEES

 

ShiftPixy is revolutionizing today’s part-time workforce. Our innovative approach to human capital and our technology deployment balances the needs for business operators who rely on part-time labor and workers who make up the part-time workforce. ShiftPixy is a powerful platform for leveraging the gig economy forces for both business operators and workers.

 

ShiftPixy combines the modern perks of the gig economy with traditional employment benefits.

 

Our app serves as an all-in-one workforce management platform for operators (aka, business owners) that rely on contingent employees. But it’s also a dynamic employment resource for shifters (aka, part-time workers) who want the freedom to make their own schedule.

 

Shifters can receive valuable benefits such as health insurance and workers’ compensation. Meanwhile, operators are able to rest easy knowing that they remain compliant with labor laws and free of time-consuming admin tasks.

 

ShiftPixy’s gig platform truly represents a new way to work.

 

SOLUTION FOR OPERATORS BUSINESS OWNERS

>> Access – Connect with a qualified, live, local on-demand workforce
>> Turnover Cure – Rethink finding and keeping people with an on-demand bench
>> Shift Risk – Move employer legal, compulsory duties and risk away from your business
>> Freedom – Liberation from administrative demands

 

RETHINK HUMAN CAPITAL

 

ShiftPixy’s ecosystem enables you to share human capital and never again have the problem of finding and keeping people. ShiftPixy is building a national ecosystem with hundreds of operators and thousands of part-time workers focused on a similar trade and service.

 

THE CURE FOR TOXIC TURNOVER

 

ShiftPixy’s gig platform keep your schedule filled and your bench stocked with a live, local on-demand workforce. This approach means you will always have access to interested, experienced and available employees as a ShiftPixy operator client.

 

LABOR COST CERTAINTY

 

The ShiftPixy strategy and ecosystem approach end transition duties, costs and time. The ShiftPixy engagement is designed to make easy-to-integrate economic sense. You will enjoy liberation, indemnification and acceleration from the ShiftPixy engagement.

 

SELF-DELIVERY

 

The ShiftPixy driver management system intercepts online orders, pings the designated driver, creates a driver route and communicates with the customer as the driver completes the order. Now, a uniformed team member, trained by the brand, can deliver the brand-intended customer experience, and take full advantage of the wildly capitalized wave of mobile food on-demand.

 

Source:  https://shiftpixy.com/

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