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News: $SSNT SilverSun Technologies Sells MAPADOC EDI Division
Proprietary Product Line Sold for $11.5 Million EAST HANOVER, NJ, Aug. 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SilverSun Technologies, Inc. (NASDAQ: SSNT), a national provider of transformational business technology solutions and services, today announced that its wholly-owned...
Find out more SilverSun Technologies Sells MAPADOC EDI Division
It's about time.. This one has been sitting for years.. Will we 25 bucks?
Mms got caught off guard i guess
News: $SSNT SilverSun Technologies Reports 2018 Year End Results
EAST HANOVER, NJ, March 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SilverSun Technologies, Inc. (NASDAQ: SSNT), a national provider of transformational business technology solutions and services, today announced its financial and operating results for the fiscal year ended...
Got this from https://marketwirenews.com/news-releases/silversun-technologies-reports-2018-year-end-results-7907854.html
Institution Holders
https://www.nasdaq.com/symbol/ssnt/institutional-holdings
Nothing fishy about Impressive volume the day before a press release...
Relatively huge volume at bargain prices the day before a press release announcing a new CFO.
Nice to see the pps going up BUT not fair for those that didn't get the inside information.
Declining Earnings! Not shocked considering the track record here! 3 quarters in and 5 cents! Wow! This thing is gonna have a P/E of 50 this year! Glad I gave up on this for real company!
Lawyer may be attempting to fish for shareholders.
Looks like they're trying to sue anyone:
https://www.monteverdelaw.com/investigations/securities-fraud
Monteverde lawyer sounds like a winner, whether guilty or not:
http://gothamist.com/2013/04/03/lawyer_accused_of_forcing_sex_on_su.php
Why is management getting sued here? It says it is fiduciary responsibility, but what exactly?
SilverSun Technologies, Inc. NASDAQ Opening Bell Ceremony (video)
Mark Meller Rings NASDAQ Opening Bell
https://www.swktech.com/mark-meller-rings-nasdaq-opening-bell/
So... how were they
Ok so I posted three months ago about the last quarter being the start of the decline in this business. I predicted more decline this quarter, let's see if I was correct. Number should be out soon enough, and I will be shocked if they are better than last quarter.
Declining revenue, and the guy blames one time moving expenses! Who here is slightly surprised by the fact that all the momentum that Roth had generated is pretty much gone now! Expect bigger decline next quarter, and more excuses.
Glad I bailedlong ago.
SSNT on Seeking Alpha Technology Top Gainers list
SA incorrectly labeling SSNT as OTCQB (should be NasdaqCM).
Probably the reason for the recent run up.
https://seekingalpha.com/news/3279989-technology-top-gainers-losers-3-00-pm
https://seekingalpha.com/news/3280380-technology-top-gainers-losers-3-00-pm
Clayton News Review Evaulation SSNT
What Story Are The Numbers Telling For SilverSun Technologies, Inc. (NasdaqCM:SSNT)
July 24, 2017 Sarah Dixon
After a recent scan, we can see that SilverSun Technologies, Inc. (NasdaqCM:SSNT) has a Shareholder Yield of -0.91% and a Shareholder Yield (Mebane Faber) of 1.73%. The first value is calculated by adding the dividend yield to the percentage of repurchased shares. The second value adds in the net debt repaid yield to the calculation. Shareholder yield has the ability to show how much money the firm is giving back to shareholders via a few different avenues. Companies may issue new shares and buy back their own shares. This may occur at the same time. Investors may also use shareholder yield to gauge a baseline rate of return.
Many traders and investors opt to study technical analysis when approaching the stock market. Technical analysts study changes in stock price that occur over various amounts of time. Some analysts will study by the minute or hour. Others will choose to zoom out to days, weeks, months, or even longer. Studying price action over different time periods can help provide the investor with valuable information to help make the best possible investing decisions. Keeping an eye on the stock market, it can be seen that certain trends repeat over time. These trends or patterns might not be exact, but they can be noticeable. Spotting these patterns and watching for momentum shifts can be a highly useful tool for any trader or investor. Many chartists will focus on multiple indicators when doing technical analysis. Becoming familiar with indicators and learning to spot trends may take a lot of time and effort to achieve.
Free Cash Flow Growth (FCF Growth) is the free cash flow of the current year minus the free cash flow from the previous year, divided by last year’s free cash flow. The FCF Growth of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 0.80976. Free cash flow (FCF) is the cash produced by the company minus capital expenditure. This cash is what a company uses to meet its financial obligations, such as making payments on debt or to pay out dividends. The Free Cash Flow Score (FCF Score) is a helpful tool in calculating the free cash flow growth with free cash flow stability – this gives investors the overall quality of the free cash flow. The FCF Score of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 0.89376. Experts say the higher the value, the better, as it means that the free cash flow is high, or the variability of free cash flow is low or both.
The Gross Margin Score is calculated by looking at the Gross Margin and the overall stability of the company over the course of 8 years. The score is a number between one and one hundred (1 being best and 100 being the worst). The Gross Margin Score of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 50. The more stable the company, the lower the score. If a company is less stable over the course of time, they will have a higher score.
Valuation Scores
The Piotroski F-Score is a scoring system between 1-9 that determines a firm’s financial strength. The score helps determine if a company’s stock is valuable or not. The Piotroski F-Score of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 7. A score of nine indicates a high value stock, while a score of one indicates a low value stock. The score is calculated by the return on assets (ROA), Cash flow return on assets (CFROA), change in return of assets, and quality of earnings. It is also calculated by a change in gearing or leverage, liquidity, and change in shares in issue. The score is also determined by change in gross margin and change in asset turnover.
The ERP5 Rank is an investment tool that analysts use to discover undervalued companies. The ERP5 looks at the Price to Book ratio, Earnings Yield, ROIC and 5 year average ROIC. The ERP5 of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 4687. The lower the ERP5 rank, the more undervalued a company is thought to be. The MF Rank (aka the Magic Formula) is a formula that pinpoints a valuable company trading at a good price. The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. The MF Rank of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 1980. A company with a low rank is considered a good company to invest in. The Magic Formula was introduced in a book written by Joel Greenblatt, entitled, “The Little Book that Beats the Market”.
The Q.i. Value of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 50. The Q.i. Value is a helpful tool in determining if a company is undervalued or not. The Q.i. Value is calculated using the following ratios: EBITDA Yield, Earnings Yield, FCF Yield, and Liquidity. The lower the Q.i. value, the more undervalued the company is thought to be.
The Value Composite One (VC1) is a method that investors use to determine a company’s value. The VC1 of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 22. A company with a value of 0 is thought to be an undervalued company, while a company with a value of 100 is considered an overvalued company. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings. Similarly, the Value Composite Two (VC2) is calculated with the same ratios, but adds the Shareholder Yield. The Value Composite Two of SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 31.
SilverSun Technologies, Inc. (NasdaqCM:SSNT) has a Price to Book ratio of 3.969945. This ratio is calculated by dividing the current share price by the book value per share. Investors may use Price to Book to display how the market portrays the value of a stock. Checking in on some other ratios, the company has a Price to Cash Flow ratio of 10.916815, and a current Price to Earnings ratio of 5.772002. The P/E ratio is one of the most common ratios used for figuring out whether a company is overvalued or undervalued.
Price Index
The Price Index is a ratio that indicates the return of a share price over a past period. The price index of SilverSun Technologies, Inc. (NasdaqCM:SSNT) for last month was 1.15386. This is calculated by taking the current share price and dividing by the share price one month ago. If the ratio is greater than 1, then that means there has been an increase in price over the month. If the ratio is less than 1, then we can determine that there has been a decrease in price. Similarly, investors look up the share price over 12 month periods. The Price Index 12m for SilverSun Technologies, Inc. (NasdaqCM:SSNT) is 3. Some of the best financial predictions are formed by using a variety of financial tools. The Price Range 52 Weeks is one of the tools that investors use to determine the lowest and highest price at which a stock has traded in the previous 52 weeks. The Price Range of SilverSun Technologies, Inc. (NasdaqCM:SSNT) over the past 52 weeks is 0.954. The 52-week range can be found in the stock’s quote summary.
Ever wonder how investors predict positive share price momentum? The Cross SMA 50/200, also known as the “Golden Cross” is the fifty day moving average divided by the two hundred day moving average. The SMA 50/200 for SilverSun Technologies, Inc. (NasdaqCM:SSNT) is currently 1.22283. If the Golden Cross is greater than 1, then the 50 day moving average is above the 200 day moving average – indicating a positive share price momentum. If the Golden Cross is less than 1, then the 50 day moving average is below the 200 day moving average, indicating that the price might drop.
https://claytonnewsreview.com/what-story-are-the-numbers-telling-for-silversun-technologies-inc-nasdaqcmssnt/124591/
Hopefully El that's institutions buying that would be nice
Lot more volume lately.
Don't know what's going on, I'm not seeing any news.
Thanks for link. Wasnt aware how i can monitor uplist on Finra!
SilverSun Technologies Announces Cash Dividend
EAST HANOVER, NJ--(Marketwired - Apr 24, 2017) - 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 $0.02 per share. The record date will be May 5, 2017, and the payment date will be May 10, 2017.
"As we continue to profitably execute on our business plan, we believe this special cash dividend -- the third in the past 16 months -- 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 strategies and 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, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona, Seattle, Greensboro, and Southern California.
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.
https://finance.yahoo.com/news/silversun-technologies-announces-cash-dividend-134500075.html
SSNT moved to the Nasdaq from the OTC:
http://otce.finra.org/DLDeletions
• SilverSun Technologies Announces Uplisting to NASDAQ
By Stefan Bilanych
April 17, 2017
SWK Technologies, Inc.’s parent company, SilverSun Technologies, Inc., announced today that its common stock has been approved for listing on the NASDAQ Capital Market, trading under the symbol “SSNT” beginning April 19, 2017.
Mark Meller, Chairman and CEO of SilverSun, stated, “Uplisting to NASDAQ is a tremendous accomplishment and corporate milestone for our Company. It was among our most important corporate goals for 2017. We believe that trading on the NASDAQ Capital Market will help generate increased visibility, better liquidity, greater access to capital, and attract a broader range of institutional investors to prompt our growth initiatives and, most importantly, enhance shareholder value.”
SilverSun Technologies, Inc. is a national provider of transformational business technology solutions and services. Click here for the complete press release or for more information on SilverSun Technologies, click here.
https://www.swktech.com/silversun-technologies-announces-uplisting-nasdaq/?utm_content=52696744&utm_medium=social&utm_source=twitter
Not even the Nasdaq exchange itself approves of a company announcing it's intent to list, or its filing of an application. In fact, they highly discourage and frown upon it. Quick way to ensure you don't get listed is to issue press releases about how you are going to uplist. Makes you question management's judgment and intent.
Just came out Mr, El
LIVINGSTON, N.J., Jan. 30, 2017 (GLOBE NEWSWIRE) -- SilverSun Technologies, Inc. (OTCBB:SSNT) (OTCQB:SSNT), a national provider of transformational business technology solutions and services, today announced that it has submitted its formal application to list the Company’s common stock on the NASDAQ Capital Market.
Mark Meller, Chairman and CEO of SilverSun, stated, “The listing of our Company’s securities on NASDAQ, along with maintaining the profitable 29% compound annual growth rate we have delivered over the past 7 years, was our most important corporate goal for 2017. We have begun the up-listing process today, and are hopeful we will be approved in the near future.”
Mr. Meller continued, “We have reached this milestone without the need to raise money to qualify. We have accomplished this goal organically, by delivering profits from our operations and building our net worth via retained earnings.”
“While the submission of an application is no guarantee of acceptance, I believe, as do our professional advisors, that we will be successful with our application. We are very pleased to announce this milestone event.”
That would be nice maybe it will trade like a normal stock.
"Uplist" mentioned yet again.
SilverSun Technologies to Present at the NobleCon13 -- Noble Capital Markets' Thirteenth Annual Investor Conference
[Marketwired]
Marketwired January 24, 2017
LIVINGSTON, NJ--(Marketwired - Jan 24, 2017) - SilverSun Technologies, Inc. ( OTCQB : SSNT ), a national provider of transformational business technology solutions and services, announced today that it will be presenting at the NobleCon13 -- Noble Capital Markets' Thirteenth Annual Investor Conference at the Boca Raton Resort & Club in Boca Raton, Florida, on Monday, January 30, 2017 at 11:30 AM EST. Mark Meller, Chairman and CEO of SilverSun, will be presenting, as well as meeting with investors.
Mr. Meller will be updating the investment community on the Company's record 2016 results, which includes record revenue of $25.88 million (through 9/30/16), record EBITDA of $1.65 million (through 9/30/16), and record earnings per share (exclusive of tax benefits) of $0.25 (also through 9/30/16). Actual earnings per share (inclusive of tax benefits) were $0.76 per share (through 9/30/16). Among other topics, Mr. Meller will be discussing the Company's plan to up-list to NASDAQ in 2017.
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing strategies and 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, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona and Southern California.
About Noble Capital Markets, Inc.
Noble Capital Markets, established in 1984, is an equity-research driven, full-service, investment & merchant banking boutique focused on the healthcare, media & entertainment, technology and natural resources sectors. The company has offices in Boca Raton, New York and Boston. In addition to NobleCon -- the annual multi-sector investor conference and the Media, Finance & Investor Conference, produced in partnership with the National Association of Broadcasters (NAB) and held each spring in Las Vegas, throughout the year Noble hosts numerous "non-deal" corporate road shows across the United States and Canada. Members: FINRA, SIPC, MSRB. www.noblecapitalmarkets.com
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.
https://finance.yahoo.com/news/silversun-technologies-present-noblecon13-noble-165937654.html
SilverSun Technologies Announces $0.02 Special Cash Dividend
LIVINGSTON, NJ--(Marketwired - Jan 23, 2017) - SilverSun Technologies, Inc. (OTCQB: 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 $0.02 per share. The record date will be January 26, 2017, and the payment date will be January 31, 2017.
"As we continue to profitably execute on our business plan, we believe this special cash dividend -- the second in our Company's history -- 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 quarterly and/or annual dividend payout levels in light of the Company's financial performance and its current and anticipated business needs at such time.
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing strategies and 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, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona, Seattle, Greensboro, and Southern California.
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 Information
SilverSun Technologies, Inc.
Mark Meller
973-758-6108
meller@silversuntech.com
Something happen to SWKTECH twitter?
Feels like a lot of the daily tweets were removed?
https://twitter.com/SWKTECH
SilverSun Technologies to Present at the 9th Annual LD Micro Main Event
[Accesswire]
November 25, 2016
LOS ANGELES, CA / ACCESSWIRE / November 25, 2016 / SilverSun Technologies, Inc. (SSNT), a national provider of transformational business technology solutions and services, announced today that it will be presenting at the 9th annual LD Micro Main Event on Tuesday, December 6, 2016 at 3:30 PM PST at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. Mark Meller, Chairman and CEO of SilverSun, will be presenting, as well as meeting with investors.
Mr. Meller will be updating the investment community on the Company's record 2016 results, which includes record revenue of $25.88 million (thru 9/30/16), record EBITDA of $1.65 million (thru 9/30/16), and record earnings per share (exclusive of tax benefits) of $0.25 (also thru 9/30/16). Actual earnings per share (inclusive of tax benefits) were $0.76 per share (thru 9/30/16). Among other topics, Mr. Meller will be discussing the Company's plan to up-list to NASDAQ in 2017.
The LD Micro Main Event is the largest independent conference for small/microcap companies and will feature 240 presenting names.
View SilverSun Technologies profile here: http://www.ldmicro.com/profile/ssnt
News Compliments of Accesswire.
About SilverSun Technologies, Inc.
We are a business application, technology, and consulting company providing strategies and 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, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail, and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona, and Southern California.
About LD Micro
LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event).
In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe.
For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com/events for more information.
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.
Good Gem,This is going up!!!!!!!!! one day,
I think the let someone, load up with some shares.
No idea.
Liquidity problems? Maybe needed to release more shares and this latest report would help keep the pps in check.
Maybe the jump to $5 surprised some insiders and they didn't want to buy shares at that price? There does appear to be a few more MMs on L2 than before the qtr report.
What happen here ? why the sell off
SilverSun Technologies Reports Profitable Third Quarter 2016 Results
New Management at Operating Subsidiary Delivers Best Results in Company History
November 14, 2016 15:21 ET | Source: SilverSun Technologies, Inc.
LIVINGSTON, N.J., Nov. 14, 2016 (GLOBE NEWSWIRE) -- SilverSun Technologies, Inc. (OTCBB:SSNT) (OTCQB:SSNT), a national provider of transformational business technology solutions and services, today announced its third quarter results for the three and nine months ended September 30, 2016.
Financial Highlights for Three Months Ended September 30, 2016 Compared to Three Months Ended September 30, 2015:
Revenues increased to $9,534,092, rising 32.4% from $7,199,783.
Software sales increased 97.7% to $1,709,901 from $864,698.
Services revenues totaled $7,824,191, increasing 23.5% from $6,335,085.
Earnings before interest, taxes, depreciation and amortization (“EBITDA”) were $673,555, increasing 189% from $232,975.
Net income, exclusive of a tax benefit, was $489,368, or $0.11 earnings per basic and diluted share, compared to net income of $34,001, or $0.00 earnings per basic and diluted share.
Net income, including the tax benefit, was $2,751,406, or $0.62 earnings per basic share and $0.61 earnings per diluted share, compared to net income of $16,464, or $0.00 earnings per basic and diluted share.
Financial Highlights for the Nine Months Ended September 30, 2016 Compared to the Nine Months Ended September 30, 2015:
Total revenues rose 32% to $25,881,283 from $19,614,316.
Software sales were $3,754,594, up 18.6% from $3,165,690.
Services revenues increased 34.5% to $22,126,689 from $16,448,626.
Earnings before interest, taxes, depreciation and amortization (“EBITDA”) were $1,645,784, increasing 48.6% from $1,107,327.
Net income, exclusive of a tax benefit, totaled $1,090,423, or $0.25 per basic and diluted share, rising from net income of $582,232, or $0.14 per basic and diluted share.
Net income, including the tax benefit, was $3,372,803, or $0.76 earnings per basic and diluted share, compared to net income of $582,232, or $0.14 earnings per basic and diluted share.
As of September 30, 2016, the outstanding balance on the Company’s revolving bank line of credit was $0. The total amount available under the line is $1,000,000.
As of September 30, 2016, the Company had $1,710,419 in cash and cash equivalents; $2,586,539 in accounts receivable; long term debt of $1,340,197 and total stockholders’ equity of $4,693,176.
For more details on SilverSun’s second quarter results, please refer to the Company’s 10-Q filed today with the U.S. Securities Exchange Commission and accessible at www.sec.gov.
Commenting on the results, Mark Meller, Chairman and CEO of SilverSun, stated, “It has only been 6 months since our new team took over the management of our SWK subsidiary. In that short time, we have delivered the two best operating quarters in the history of the company. We have focused our attention on profitability, reducing general and administrative expenses, removing artificial silos, and improving the culture of our dynamic and vital organization. The results speak for themselves.”
Meller continued, “Our growth this quarter, and this year, cuts across most of our business units. Sales of Sage ERP X3 have aggressively picked up after a slow start to 2016. We are seeing a higher level of sales activity in our NetSuite and Acumatica cloud ERP practices. Our MAPADOC EDI solution has just experienced its best quarter ever. Our managed service provider is growing rapidly, and is now by itself generating almost $300,000 in monthly recurring revenue. In addition, our sales pipeline is now deeper, across the board, than it has been in recent memory.”
Meller concluded, “Our primary corporate goal for 2017 is to up-list to NASDAQ. We have already begun conversations with investment bankers about starting the process. I will be conducting a series of roadshows with investors and at conferences in the coming weeks and months to help facilitate this process. In addition, in the coming months we will continue to aggressively fill our sales pipeline, increase our gross margins by improving billable consultant utilization, and increase our operating margins by continuing to rationalize our expenses with our current level of sales. Finally, with our cash position, strong balance sheet, and ever increasing stream of recurring revenue, I am confident that we will be back on the acquisition trail in 2017. We are extremely excited about our future prospects.”
About SilverSun Technologies, Inc.
We are a business application, technology and consulting company providing strategies and 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, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, time and billing, and various ERP enhancements. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network services practice that provides managed services, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona and Southern California.
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
SilverSun Technologies
Mark Meller
CEO
(973) 758-6108
meller@silversuntech.com
http://www.globenewswire.com/news-release/2016/11/14/889843/0/en/SilverSun-Technologies-Reports-Profitable-Third-Quarter-2016-Results.html
I can't find any news.......somethings up
I still think some co with too much cash on hand will come
along & scoop up our little co
I t's about blooming time !!!
I wasted 8 years here, do not make the same mistake man.
I emailed IR when this came out and nothing.
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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 |
---
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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