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Wow CEO absolutely dumping shares the past 3 days! Can’t be a good thing! 😳
Wunderlich acquires 500 shares @$12. http://archive.fast-edgar.com/20231227/ACL2S22CZ22HS2Z2222M2WZOJWOIAZ22D252/
SSNT could be brewing up for a good run tomorrow.
Oh ok. Thanks for the reply. I'm only in it for today. :)
I already made money here....I avoid RS stocks most don't work out too risky...Worked good in this situation though
So my target for 2024 was $17! A few bucks short of that today in PM, although I don’t put much stock it AH spikes! That said where do you think this bases out now? $6-8 until acquisition is announced! The 2,5 million dividend doesn’t hurt either!
Brad Jacobs to Lead Equity Investment of $1 Billion in SilverSun Technologies and Pursue Acquisitions in an Industry to be Announced Later
Jacobs to Become Chairman and Chief Executive Officer
Company to Become Platform for Jacobs' New Venture after Spinning Off Existing SilverSun Business
GREENWICH, CT and EAST HANOVER, NJ / ACCESSWIRE / December 4, 2023 / SilverSun Technologies, Inc. (Nasdaq:SSNT) ("SilverSun" or the "Company") and Jacobs Private Equity II, LLC ("JPE"), which is led by Brad Jacobs, today announced that they and minority co-investors have entered into an investment agreement (the "Investment Agreement"), pursuant to which JPE and the minority co-investors will invest $1 billion in cash into SilverSun. The proposed equity investment is comprised of $900 million by JPE and $100 million by co-investors, including Sequoia Heritage.
Upon the closing of the equity investment, JPE will become the majority stockholder of SilverSun and Jacobs will become the Company's chief executive officer and chairman of its board of directors. The Investment Agreement also provides for the spin-off of the Company's existing business to SilverSun stockholders as of a record date that is expected to be one day prior to the closing of the investment. The remaining Company will become a standalone platform for significant acquisitions in an industry to be announced soon, along with the company's new name.
Jacobs said, "I'm excited to start building another multibillion-dollar company from scratch. Soon, I'll be providing more information about my new venture and industry, and the strategy we plan to execute."
Jacobs has completed approximately 500 M&A transactions in his career, and built five multi-billion dollar, publicly traded companies to date: XPO, Inc., one of the largest providers of less-than-truckload services in North America; GXO Logistics, Inc., the largest pure-play contract logistics provider in the world; RXO, Inc., a leading tech-enabled freight brokerage platform; United Rentals, Inc., the world's largest equipment rental company; and United Waste Systems, Inc., the fifth largest U.S. waste management company at the time of its sale.
Each of these companies has a history of attracting world-class talent, establishing advantages through technology, and scaling up through accretive capital allocations for M&A and organic growth.
The Investment Agreement
Under the terms of the Investment Agreement, the Company will, shortly after the closing of the investment, separate ("spin off") the existing SilverSun business as SilverSun Technologies Holdings, Inc. (the "spin-off company") and distribute all shares of the spin-off company to the stockholders of SilverSun as of a record date that is expected to be one day prior to the closing of the equity investment. The Company will also effect an 8:1 reverse stock split prior to the closing of the equity investment. Upon the closing of the investment and the effectiveness of the reverse stock split, JPE, Sequoia Heritage and the other co-investors will have: (i) voting, convertible preferred stock that, in aggregate, is convertible into approximately 219 million shares of the Company's common stock at a price of $4.57 per share (equivalent to $0.57 per share pre-split); and (ii) warrants to purchase an additional approximately 219 million shares of the Company's common stock at post-reverse-split exercise prices of: $4.57 per share (equivalent to $0.57 per share pre-split) with respect to 50% of the warrants, $6.85 per share (equivalent to $0.86 per share pre-split) with respect to 25% of the warrants, and $13.70 per share (equivalent to $1.71 per share pre-split) with respect to the remaining 25% of the warrants. Following the closing of the investment, JPE and the co-investors will own approximately 99.85% of the Company's common stock on a fully convertible/exchangeable basis.
In addition, SilverSun will declare a $2.5 million aggregate cash dividend to its stockholders as of the same record date, to be funded from proceeds received under the Investment Agreement. The transactions contemplated by the Investment Agreement have been approved by SilverSun's board of directors, and are expected to be completed in 2024. The transactions are subject to SilverSun stockholder approval and the satisfaction of other customary closing conditions.
The Company's current management and board of directors, including Mark Meller, SilverSun's chief executive officer, are expected to continue in their current roles at the spin-off company and its subsidiaries. The spin-off company will apply for a public listing of its shares, which will be registered pursuant to a Form 10 registration statement that will be filed with the U.S. Securities and Exchange Commission.
Meller said, "We believe this investment agreement will provide ideal outcomes for our stockholders, customers and employees, including the opportunity for our stockholders to realize a substantial upfront cash payment in the form of a $2.5 million dividend. We expect our stakeholders will benefit from retaining the value of our existing business, while also participating in the potential upside of Brad Jacobs' future business plans for the company."
Goldman Sachs and Morgan Stanley are serving as financial advisors to JPE, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor.
The Benchmark Company, LLC is serving as financial advisor to SilverSun, and Lucosky Brookman LLP is serving as legal advisor.
Cautionary statement regarding forward-looking statements
This press release contains forward-looking statements. Statements that are not historical facts, including statements about beliefs or expectations, are forward-looking statements. These statements are based on plans, estimates, expectations and projections at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as "may," "will," "should," "expect," "opportunity," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "target," "goal," or "continue," or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described in this press release include, among others:
uncertainties as to the completion of the equity investment (the "initial investment"), the separation by SilverSun Technologies, Inc. (the "Company") of its existing business into SilverSun Technologies Holdings, Inc. (the "spin-off") and the other transactions contemplated by the investment agreement by and among Jacobs Private Equity II, LLC, the Company and the other parties thereto (the "Investment Agreement"), including the risk that one or more of the transactions may involve unexpected costs, liabilities or delays;
the risks associated with the Company's relatively low public float, which may result in its common stock experiencing significant price volatility;
the possibility that competing transaction proposals may be made;
the risks associated with raising additional equity or debt capital from public or private markets to pursue acquisitions or other strategic investments, including in an amount that may significantly exceed the initial equity investment, and the effects that raising such capital may have on the Company's business and the trading price of the Company's common stock, including the possibility of substantial dilution;
the possibility that additional future financings may not be available to the Company on acceptable terms or at all;
the effects that the announcement, pendency or consummation of the equity investment, the spin-off and the other transactions contemplated by the Investment Agreement may have on the Company and its current or future business and on the price of the Company's common stock;
the possibility that an active, liquid trading market for the Company's common stock may not develop or, if developed, may not be sustained;
the possibility that the warrants, if issued, may not be exercised;
the possibility that various closing conditions for the equity investment, the spin-off and the other transactions contemplated by the Investment Agreement may not be satisfied or waived, or any other required consents or approvals may not be obtained within the expected timeframe, on the expected terms, or at all, including the possibility that the Company may fail to obtain stockholder approval for the transactions contemplated by the Investment Agreement;
the effects that a termination of the Investment Agreement may have on the Company, including the risk that the price of the Company's common stock may decline significantly if the equity investment is not completed;
the risk that the spin-off may be more difficult, time-consuming or costly than expected or the possibility that the anticipated benefits of the spin-off may not be realized;
uncertainties regarding the Company's focus, strategic plans and other management actions;
the risk that the Company, following the closing of the equity investment, is or becomes highly dependent on the continued leadership of Jacobs as chairman and chief executive officer and the possibility that the loss of Jacobs in these roles could have a material adverse effect on the Company's business, financial condition and results of operations;
the risk that Jacobs' past performance may not be representative of future results;
the risk that the Company is unable to attract or retain world-class talent;
the risk that the Company may be unable to identify suitable acquisition candidates or expeditiously consummate any particular acquisition candidate on acceptable terms or at all;
the risk that the failure to consummate an acquisition expeditiously, or at all, could have a material adverse effect on the Company's business prospects, financial condition, results of operations or the price of the Company's common stock;
the risk that the Company may fail to satisfy the ongoing requirements of Nasdaq if it is unable to expeditiously consummate an acquisition following the consummation of the spin-off;
the risks associated with cybersecurity and technology, including attempts by third parties to defeat the security measures of the Company and its business partners, and the loss of confidential information and other business disruptions;
the possibility that new investors in any future financing transactions could gain rights, preferences and privileges senior to those of the Company's existing stockholders;
the risks associated with the uncertain nature of the industry in which Jacobs, upon becoming chairman and chief executive officer of the Company, plans to pursue acquisitions after consummation of the transactions contemplated by the Investment Agreement;
the risks associated with potential litigation related to the transactions contemplated by the Investment
Yah I think it would have been a huge liquidity event for him with that dividend, and it aloud him to keep running the company independently and still be able to get a great golden parachute when he is ready to retire! The fact he pulled the plug liklely means he has something else planned, and it probably starts with the best quarter in company history in 3 weeks! In the meantime I hope to pick up some more shares under $3 as impatient holders walk away. GL2U
I agree also , Bitcoin would have been a bad idea . Not sure why mark would even consider it . With how well he has done in the last 10 yrs I remember when I bought this when it was below a penny ..
No and for the better, I would never invest in Bitcoin!
No and for the better, I would never invest in Bitcoin!
So doesn’t look like the $1.50 coming someone wanna correct me if I’m wrong or is there still .60 a share coming . Thanks
Payout of $3.25 million on deal cancellation by RHDM! Chump change for them, as this was never gonna get approved! A nice 60 cent dividend for shareholders here! That’s 80 cents this year on a $3 stock! 💪🏿😈 the fact they lowered the penalty from $5 million to $3,25M makes me think they know this isn’t gonna get done now after 18 months in limbo!
Zero! Looking for a $3.25 million penalty which would give us a 60 cent dividend! Way better deal if you ask me!
Zero! Looking for a $3.25 million penalty which would give us a 60 cent dividend! Way better deal if you ask me!
The $1,50 is when acquisition is completed! The 20 cents was just this years cash flow distribution! He is in the quiet period! Tomorrow we will find out if the deal is cancelled and we get $3,25 million from RHDM!
The $1,50 is when acquisition is completed! The 20 cents was just this years cash flow distribution! He is in the quiet period! Tomorrow we will find out if the deal is cancelled and we get $3,25 million from RHDM!
Not sure mark always takes calls , but he is ignoring people since he only paid .20 per share . when he stated he was going to pay $1.50 a share said it was a special dividend so maybe he still going to pay the $1.50 dividends… he always returns calls but he not this time …
What are the chances merger actually happens this time?
What happen to the $1.50 a share for dividends . Mark only paid .20 a share called it a special dividend. Can anyone answer why he lied.
Mark stated dividends $1.50 Anyone know when . He put that statement out in 2022 ..
Made money here on that quick window hehehe...
Yes! And if we get heavy volume then look for a moonshot!
Great day for SSNT. Breakout?
SSNT stock is surging almost 24% following a similar rally on Tuesday.
Adding here was too cheap by any metric in any market! Just plain dumb!
Added some now after hours I think could do 6
No where to go but up from here in time! Company is being rewarded for being fiscally responsible when everyone else over leveraged! I have park a huge amount of money here, and one of the largest shareholders! Enjoy the ride back tom6s soon enough! Might be April, might be tomorrow, time will tell!
Earnings up tomorrow! Looks like she’s curling up heading in!
SilverSun Technologies Announces Cash Dividend
Tue, June 22, 2021, 5:15 AM·2 min read
EAST HANOVER, NJ / ACCESSWIRE / June 22, 2021 /SilverSun Technologies, Inc. (NASDAQ:SSNT), a national provider of transformational business technology solutions and services, today announced that its Board of Directors has declared a special cash dividend on the Company's common stock of $0.60 per share. The record date will be July 9, 2021, and the payment date will be July 16, 2021.
"As we continue to successfully execute on our business plan, we believe this special cash dividend is an appropriate way to reward our shareholders for their support," commented Mark Meller, Chairman and Chief Executive Officer of the Company. "We are fortunate to be able to share the financial success of the Company with our owners, and look forward to more such distributions in the future, business conditions permitting."
The payment of future dividends, if any, will be subject to SilverSun's cash requirements. The Company's board of directors will assess any future dividend payout levels in light of the Company's financial performance and its current and anticipated business needs at such time.
Additional information regarding SilverSun Technologies is available on the Company website at www.silversuntech.com.
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing software and IT solutions to meet our clients' information, technology and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the "cloud". As a value-added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems ("WMS"), Customer Relationship Management ("CRM"), Business Intelligence ("BI") and other business applications. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network managed services practice that provides cybersecurity, application hosting, disaster recovery, business continuity, cloud and other services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Arizona, Southern California, North Carolina, Washington and Oregon.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as 'believe,' 'expect,' 'anticipate,' 'should,' 'planned,' 'will,' 'may,' 'intend,' 'estimated,' and 'potential,' among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
CONTACT:
Corporate
Mark Meller
SilverSun Technologies, Inc.
973-758-6108
meller@silversuntech.com
SOURCE: SilverSun Technologies, Inc.
https://finance.yahoo.com/news/silversun-technologies-announces-cash-dividend-121500666.html
$17 price target buddy! Long time no talk! In with. 65,000 shares! Under $3.00 acb
SilverSun Technologies' Subsidiary Named to ChannelE2E Top 100 Vertical Market MSPs: 2021 Edition
Monday, May 3, 2021 7:40 AM
Sixth-Annual List Reveals Leading MSPs In Healthcare, Legal, Government, Financial Services & More
EAST HANOVER, NJ / ACCESSWIRE / May 3, 2021 / SilverSun Technologies, Inc. (NASDAQ:SSNT), a national provider of transformational business technology solutions and services, today announced that its wholly-owned subsidiary, SWK Technologies, Inc. , has been named to After Nines Inc.'s ChannelE2E Top 100 Vertical Market MSPs list and research (http://www.channelE2E.com/top100) for 2021.
The annual list and research (hashtag: #MSP100) identify and honor the top 100 managed services providers (MSPs) in healthcare, legal, government, financial services, manufacturing and additional vertical markets.
The Top 100 Vertical Market MSPs rankings are based on ChannelE2E's Q4 2020 and January 2021 readership survey, and ChannelE2E's vertical market industry coverage. MSPs featured throughout the list and research leverage deep vertical market expertise to drive annual recurring revenues (ARR) in specific market segments.
This year's research revealed several key MSP market trends, including:
Honorees generated a combined $1.40 billion in vertical market annual recurring revenue (ARR) in 2020, up from $1.12 billion million in 2019. The surge involved organic growth combined with continued merger and acquisition (M&A) activity.
The Top 100 Vertical Market MSPs now manage more than 3.1 million users across their customer sites as of 2020, up from 2.8 million in 2019.
MSPs consider their top vertical market technology partners to be Microsoft (58%), Dell Technologies (19%), Cisco Systems (17%), ConnectWise (16%) and Amazon Web Services (14%). Datto, Fortinet, Ingram Micro and Pax8 also earned strong MSP response.
SWK Technologies was ranked number 45 out of 100 on the total list, and among the top 5 vertical market MSPs in the manufacturing vertical.
"We're proud to be named to the ChannelE2E Top 100," said Mark Meller, CEO of both SilverSun and SWK. "Our team has done a remarkable job during the Covid-19 pandemic. As the "work-from-home" paradigm has become part of every company's reality over this past year, our MSP has ensured that our customers can effectively work and collaborate remotely while simultaneously maintaining the health and safety of their employees. Whether in Infrastructure-as-a-Service, cybersecurity, application hosting, business continuity, disaster recovery or helpdesk, the SWK team enables the success of our customers by helping them realize value for their IT investments each and every day."
"After Nines Inc. congratulates SWK Technologies on this honor," said Amy Katz, CEO of After Nines Inc. "Businesses worldwide depend on the Top 100 Vertical Market MSPs for cybersecurity, automation and revenue-generating technology services - especially amid the coronavirus pandemic."
Find the online list and associated report here: http://www.channelE2E.com/top100
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing software and IT solutions to meet our clients' information, technology and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the "cloud". As a value-added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems ("WMS"), Customer Relationship Management ("CRM"), Business Intelligence ("BI") and other business applications. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network managed services practice that provides cybersecurity, application hosting, disaster recovery, business continuity, cloud and other services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Arizona, Southern California, North Carolina, Washington and Oregon.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
CONTACT:
Corporate
Mark Meller
SilverSun Technologies, Inc.
973-758-6108
meller@silversuntech.com
About After Nines Inc.
After Nines Inc. provides timeless IT guidance for strategic partners and IT security professionals across ChannelE2E (www.ChannelE2E.com) and MSSP Alert (www.MSSPAlert.com). ChannelE2E tracks every stage of the IT service provider journey - from entrepreneur to exit. MSSP Alert is the global voice for Managed Security Services Providers (MSSPs).
For sponsorship information contact After Nines Inc. CEO Amy Katz, Amy@AfterNines.com
For content and editorial questions contact After Nines Inc. Content Czar Joe Panettieri, Joe@AfterNines.com
SOURCE: SilverSun Technologies, Inc.
Needs a push up after 9:40 for it to be valid. This excites me.
Perhaps enter at open price?
8.49 - 10.27 20% but i'd ignore it imo.
SilverSun Technologies Signs Letter of Intent to Acquire CT-Solution, Inc.
Thursday, February 25, 2021 7:20 AM
Company Update
EAST HANOVER, NJ / ACCESSWIRE / February 25, 2021 / SilverSun Technologies, Inc. (NASDAQ:SSNT), a national provider of transformational business software applications and managed IT services, announced today that its wholly-owned subsidiary, SWK Technologies, Inc., has signed a letter of intent to acquire CT-Solution, Inc. ("CT"), a leading Indianapolis-based reseller of Sage Software solutions. Over the last 20 years, CT-Solution has implemented technology applications at prominent manufacturers, distributors, and professional service organizations throughout the Midwest.
SilverSun's subsidiary, SWK Technologies, is one of the largest Sage business partners in North America. The acquisition of CT expands SWK's geographic footprint and increases its already substantial customer base. It is anticipated that the transaction, which is subject to the signing of definitive agreements and customary closing conditions, will close in the second quarter of 2021.
Mark Meller, CEO of both SilverSun and SWK, stated, "CT and SWK have worked closely with each other for several years, and are ideal fits for each other. Our organization has been actively engaged with the CT customers for some time, and we are excited to now have the opportunity to help them with their digital transformation as they migrate to the cloud, secure their data, work remotely, and automate their business processes. We expect the transition and integration to be quick and seamless."
Colleen Kuhn, President of CT, stated, "Our companies have worked jointly together in the past, and we know each other well. The customer-focused approach and corporate culture at SWK is almost identical to ours. The skillset of their team is exceptional, and both companies share the same corporate values. We have tremendous opportunities in front of us, and the size and scale of the combined organizations will provide us with the resources to take full advantage of these opportunities. We're better together, and clients on both sides will benefit from this transaction."
About SilverSun Technologies, Inc.
We are a business application, technology, and consulting company providing software and IT solutions to meet our clients' information, technology, and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets, whether on-premise or in the "cloud." As a value-added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems ("WMS"), Customer Relationship Management ("CRM"), Business Intelligence ("BI") and other business applications. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network managed services practice that provides cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Arizona, Southern California, North Carolina, Washington, and Oregon.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies, and prospects -- both business and financial. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
CONTACT:
Corporate
Mark Meller
SilverSun Technologies, Inc.
973-758-6108
meller@silversuntech.com
SOURCE: SilverSun Technologies, Inc.
https://www.accesswire.com/631789/SilverSun-Technologies-Signs-Letter-of-Intent-to-Acquire-CT-Solution-Inc
Finally pps beginning reflect company's real value
$230K buy today 56700 shares@ $3.62
$SSNT chart is looking quite nice. Watching for gap fill to $3.60 area and potential test of $4 on increased vol
Hey El, made a nice little profit on this the last time it jumped to $13! Got out above $11.73 with 4000 shares! Let’s do that again with 14,000 this time!
SilverSun Technologies Announces Cash Dividend
Thu, December 10, 2020, 11:00 AM EST
EAST HANOVER, NJ / ACCESSWIRE / December 10, 2020 / SilverSun Technologies, Inc. (NASDAQ:SSNT), a national provider of transformational business technology solutions and services, today announced that its Board of Directors has declared a special cash dividend on the Company's common stock of $0.40 per share. The record date will be December 21, 2020, and the payment date will be December 28, 2020.
"As we continue to execute on our business plan, we believe this special cash dividend is an appropriate way to reward our shareholders for their support," commented Mark Meller, Chairman and Chief Executive Officer of the Company. "We are fortunate to be able to share the financial success of the Company with our owners, and look forward to more such distributions in the future, business conditions permitting."
The payment of future dividends, if any, will be subject to SilverSun's cash requirements. The Company's board of directors will assess any future dividend payout levels in light of the Company's financial performance and its current and anticipated business needs at such time.
Additional information regarding SilverSun Technologies is available on the Company website at www.silversuntech.com.
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing software and IT solutions to meet our clients' information, technology and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the "cloud". As a value-added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems ("WMS"), Customer Relationship Management ("CRM"), Business Intelligence ("BI") and other business applications. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network managed services practice that provides cybersecurity, application hosting, disaster recovery, business continuity, cloud and other services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Arizona, Southern California, North Carolina, Washington and Oregon.
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Contact:
Corporate
Mark Meller
SilverSun Technologies, Inc.
973-758-6108
meller@silversuntech.com
SOURCE: SilverSun Technologies, Inc.
https://finance.yahoo.com/news/silversun-technologies-announces-cash-dividend-160000113.html
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SilverSun Technologies, Inc.
5 Regent Street Suite 520
Livingstong, New Jersey 07078
Phone: 973.758.6108
Email: meller@silversuntech.com
SilverSun Technologies, via wholly-owned subsidiary SWK Technologies, is a premier total solutions provider specializing in business software for manufacturers and distributors. Established in 1988, the company focuses on meeting the needs of small-sized and mid-sized businesses ("SMB" marketplace) with accounting and business management products, including SilverSun's own proprietary software. The company also offers its own cloud-based solutions and provides network services (network configuration, data backup, 24/7 remote monitoring, etc.) to its clients.
SilverSun distinguishes itself from traditional software resellers by offering a wide range of value-added services, consisting primarily of programming, training, technical support, and other consulting and professional services. The company also provides software customization, data migration, business consulting, and implementation assistance for complex design environments. Currently, the company has over 1,000 active customers.
In addition to driving organic growth, SilverSun's aggressive growth strategy includes acquiring firms in the extensive and expanding SMB marketplace to create substantial value for its shareholders, employees, and partners. SilverSun aims to leverage SWK Technologies as a platform to roll up and aggregate the best and brightest ERP resellers, as well as other software companies with proprietary products that serve the SMB marketplace. The company's most recent acquisition was in January 2012.
In 2011, SilverSun increased sales 40% over the previous year and strengthened its balance sheet through the elimination of all outstanding debt. With organic sales accelerating, significant debt reduction, and great depth of expertise and resources, SilverSun is well positioned to become a dominant player in the growing business software marketplace.
Brief History
SilverSun Technologies Inc, formerly Trey Resources, Inc., is a business consultant for small and medium sized businesses and resellers and developers of financial accounting software. It also publishes its own electronic data interchange (EDI) software. It specializes in software integration and deployment, programming, and training and technical support. The Company's three product categories include Financial Accounting Software, Electronic Data Interchange (EDI) Software and Warehouse Management In January 2012, the Company acquired the Sage software customer accounts of IncorTech. In January 2012, the Company acquired remaining 20% of SWK Technologies. In February 2013, the Company's SWK Technologies, Inc. acquired Sage business partner accounts of Point Solutions, LLC. In February 2013, its wholly owned subsidiary, SWK Technologies Inc., completed the acquisition of the Sage business partner accounts of Colleyville, Texas-based SGEN, LLC (d/b/a Software Generation).
Further Due Dilligence:
10-page Investor Summary
News Releases
SEC Filings
www.SilverSunTech.com
www.SWKTech.com
www.HighTowerInc.com
Facebook: https://www.facebook.com/SWKTech
Twitter: https://twitter.com/SWKTECH
Linkedin: http://www.linkedin.com/company/swk-technologies-inc.
BeerRun Brewery Management Product: http://www.beerrunsoftware.com/
Market Value1 | $11,179,313 | a/o Dec 20, 2013 |
Shares Outstanding | 117,676,976 | a/o Nov 04, 2013 |
Float | 4,443,174 | a/o Feb 01, 2012 |
Authorized Shares | 750,000,000 | a/o Feb 01, 2012 |
Market Value | $8,166,246 | a/o Mar 23, 2012 |
Shares Outstanding | 116,328,291 | a/o Feb 01, 2012 |
Float | 4,443,174 | a/o Feb 01, 2012 |
Authorized Shares | 750,000,000 | a/o Feb 01, 2012 |
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Capital Change=shs decreased by 1 for 1811 split. Pay date=07/11/2011.
Formerly=Trey Resources, Inc. until 7-2011
Mark Meller - Chairman and Chief Executive Officer
Mark has been the President and Chief Financial Officer of SilverSun since 2003, and was further appointed Chief Executive Officer in September 2004. He became Chairman of the Board in May 2009. He has been actively engaged in the acquisition and build-out mid-market companies for over 20 years, and has served on the Board of Directors of three public companies. Furthermore, Mark was, from 1988 to 2003, Chief Executive Officer of Bristol Townsend and Co., Inc., a New Jersey based consulting firm providing merger and acquisition advisory services to middle market companies. Mark is a member of the New York State Bar. He graduated from SUNY-Binghamton with a BA in Economics/Political Science, and received his J.D. from the Boston University School of law.
Jeffrey D. Roth - Chief Executive Officer - SWK Technologies, Inc.
Jeffrey Roth has been SWK Technologies' Chief Executive Officer since June 2004. Since 1999, he was director of business affairs and interim CFO (consultant) at National Artists Management Company, Inc., a Broadway production organization (producers of Chicago and Annie Get your Gun). From 1991-1999 he was principal and chief operating officer at The Lilli Group, Inc., a $40M manufacturer and distributor of knitted apparel products for Gap, Old Navy, J Crew, Eddie Bauer, The Limited etc. Mr. Roth is a Certified Public Accountant, having graduated from the George Washington University with a BS in Accounting.
Stanley Wunderlich - Director
Mr. Wunderlich is the founding partner of CFSG1, a leading consulting firm that specializes in investor and media relations, corporate development, and the formation of capital for early-growth stage companies. Stan has nearly 40 years of experience in Wall Street activities. A specialist in corporate development and the formation of triangular reverse mergers, he has participated in numerous initial public offerings, private placements of equities and institutional private equity offerings. Mr. Wunderlich helped launch two previous investment banking firms, the Renaissance Group and Krieger, Wunderlich, Fialkov, Scheinman & Company. He has also served as Managing Director of J.T. Moran & Co., as a Registered Principal at Dunhill Equities, and as Managing Director at Robert Todd Financial. He is noted for the close relationships he has forged with key brokers/dealers, venture capitalists, institutional investors, research analysts, media personnel and other global private equity source. Listed in Who's Who in Executive Management, Mr. Wunderlich is a former member of LIFT (Long Island Forum for Technology) and a former member of the American Stock Exchange Arbitration Panel. He holds a B.A., L.L.B. and most major credits toward his M.B.A. in Executive Management. A proud former member of the United States Marine Corps, he is a two-time "Ironman" World Championship finisher.
Auditor/Accountant: Friedman LLP 100 Eagle Rock Avenue Suite 200 East Hanover, NJ, 07936 United States | Legal Counsel: Lucosky Brookman LLP 33 Wood Avenue South Woodbridge, NJ, 08830 United States | Investor Relations Firm: Hanover Elite 222 S. Magnolia Ave Sanford, FL, 32771-3122 United States |
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