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I don't think I could hold it all the way up to .80, I have averaged down to .09/share and I would be relieved to get that.
But, I'm sure if I sold at .09 it would then go to .80 for you.
Don't know, but those GLX Wire posts look like some kind of promo.
According to that company disclosure document, they have some things in the works.
Initial company info released...
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=65643
They had to stop to take a little dump.
Never saw a PR for this...
http://allezoe.com/News/PR/Allezoe-Medical-Holdings-To-Review-Recent-Trading-Activity
Allezoe Medical Holdings To Review Recent Trading Activity
(OTCBB:ALZM) announced that it has initiated an internal review and investigation of the unusually high volume of trading in its common shares on the OTC Bulletin Board, and the resulting precipitous drop in the market price for the stock. CEO Michael Gelmon says, “It appears that the high volume of selling has now abated and that the market activity has returned to more normal levels, but we are inquiring into this unusual trading pattern.”
Preliminary indications are that the trading in question was conducted by an unidentified group of shareholders, who may be affiliated or working in concert, and who have been selling a large block of shares they obtained and held before the recent (February, 2011) change in control and business direction of the company occurred. The trading did not involve any shares held by Allezoe’s officers, directors or other insiders, as those shares were all obtained at or shortly after the change in control and termination of the Company’s status as a shell company last February (under Rule 144, their shares are all restricted from trading until after one year from February 2011)
It further appears that the group of shareholders in question has been trading their stock through a securities brokerage firm based in The Bahamas, which has been placing the sales though a US brokerage firm based in Scottsdale Arizona.
Allezoe CEO Michael Gelmon says, “We are concerned that a large block of common stock of Allezoe Medical, well in excess of ten percent of the shares outstanding, has been sold into the market in the past thirty days without regard to any volume limits, through a common source. The result has been to drop the market price of the stock significantly, to the detriment of our other, un-affiliated, shareholders. We are always committed to acting in the best interests of our shareholders, and will review this trading activity in the hopes of learning how we can prevent it from ever happening again.”
About Allezoe Medical Holdings
Allezoe Medical Holdings, Inc. (OTCBB: ALZM) is a holding company focused on acquiring the most high-quality and in demand medical products, solutions and services. Whether through diagnosis, treatment, or medical research itself, Allezoe is interested in companies that are making a striking difference in the healthcare system through technology and treatments for health issues that affect large populations. For more information, please visit www.allezoe.com.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risk that could cause actual performance and results of operations to differ materially from those anticipated. These risks are set forth in the Company's most recently filed form 10-K and Form 10-Q reports. The Company assumes no obligation to update the statements contained in this release except as required by applicable securities disclosure rules. The Company's SEC filings are available at http://www.sec.gov.
Anybody know what state this new subsidiary was incorporated?
SureScreen Medical, Inc.
Looks like yesterday was just some shorts covering. Back to normal for PSID today.
GreenCell, Inc. has averaged over 44,000 shares traded per day since November 1, 2011.
Is that supposed to be impressive? Please stop the useless PRs.
Look at a daily chart, PPS is back down to 100MA.
How are they still a development stage company? According to this PR they are/were supplying security in Columbia.
http://alco-advanced.com/?p=133
Quarterly report released.
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=65438
The MMs need to quit fooling around with these 1/10 of a cent prices and start moving in whole pennies.
Sorry guys, I bought in today at 3.28 and it immediately started down. When I buy in it's usually a strong sell signal.
Let's see what happens if it gets to .34 today, 200-day MA.
Hopefully it can stay above the 100-day MA today, which is around .25
Now a PR about FDA clearance. If it doesn't go up big on this news, you know something is fishy.
I'm starting to think the guys on "Gold Rush" will get better results than KATX, and they are idiots.
Unfortunately, a PR from PSID usually signals a 10% drop in PPS.
Don't ask me why, but that's the history.
Sounds like APCX needs to develop an app that lets you use your phone to scan (ultrasound) your unborn kid, so you can tell if it's yours before it is born. Maybe even a DNA Paternity Test app. That way you don't need to wait until it's born to find out it's not yours.
Glad to see the site for SSNTA. Good promo for SSNTA's company SWK Technologies.
"SilverSun Technologies, a publicly-traded company (stock symbol SSNTA), is the parent company of SWK Technologies,..."
"SilverSun, through its principal operating subsidiary, SWK Technologies (see www.swktech.com), is a value added reseller of Sage Software’s ERP (Enterprise Resource Planning) software,..."
The new financing is great news.
"The loan is a 36 month facility, secured by the assets of the Company and its subsidiary, SWK Technologies and was personally guaranteed by the Company's CEO, Mark Meller. "
GCLL - EOD coming later today!!
GCLL PRs have words in them!! Woo Hoo!!!!
No names, no numbers, no nuthin'.
Not sure if it means anything, but Teleblock is being run by Gryphon now.
http://www.callcompliance.com/
Who cares? Just keep it up!
How do they manage to go down on every supposedly positive PR?
As of now, down 20% today.
I appreciate consistency, but this is ridiculous.
Oh no, another PR. Down about 10% since last one.
So, it was a totally unnecessary PR since all "info" in it has already been released. Hopefully, this kind of PR won't become a habit.
Was that PR about an SEC filing? All I saw was how cars use ceramic components and "could" use our stuff.
Most companies I've seen that start putting out these kind of PRs end up around .0001 .
Next we'll hear about an article about something that somebody read and how they agree with it.
The seat belt sign is now off.
This must be a trans-atlantic flight.
Down since last "PR", as usual.
8-K out...
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 23, 2011
SILVERSUN TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Delaware 000-50302 16-1633636
(State or other jurisdiction
of incorporation) (Commission File Number) (IRS Employer
Identification No.)
5 Regent Street, Suite 520
Livingston, New Jersey 07039
(Address of Principal Executive Offices)
(973) 758-9555
Registrant’s telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
Item 1.01 Entry into a Material Definitive Agreement.
On September 23, 2011 (the “Effective Date”), SilverSun Technologies, Inc., a Delaware corporation (the “Corporation”), entered into a Series B Preferred Stock Purchase Agreement (the “Preferred Stock Purchase Agreement”) with the Company’s Chief Executive Officer, Mr. Mark Meller (the “Series B Holder”), pursuant to which the Series B Holder was issued the only one (1) authorized share of Series B Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”). The Series B Holder was issued one (1) share of Series B Preferred Stock as partial consideration for such Series B Holder’s agreement to personally guarantee the repayment of two promissory notes (the “Notes”), dated April 11, 2011, each in the principal face amount of $275,000, for an aggregate principal sum of $550,000 the terms of which are incorporated by reference herein as Exhibit 10.1.
The Series B Preferred Stock has the rights, privileges, preferences and restrictions set for in the Certificate of Designation (the “Certificate of Designation”) filed by the Corporation with the Secretary of State of the State of Delaware (“Delaware Secretary of State”) on September 23, 2011, as more fully described in Item 5.03 below.
Each one (1) share of the Series B Preferred shall have voting rights equal to (x) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote divided by (y) forty nine one-hundredths (0.49) minus (z) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote. For the avoidance of doubt, if the total issued and outstanding Common Stock eligible to vote at the time of the respective vote is 5,000,000, the voting rights of the Series B Preferred Stock shall be equal to 5,204,082 (e.g. (5,000,000 / 0.49) – 5,000,000 = 5,204,082).
The foregoing descriptions of the Notes and the Preferred Stock Purchase Agreement are not intended to be complete and are qualified in their entirety by the complete text of the Form of Note incorporated by reference herein as Exhibit 10.1 and the complete text of the Form of Preferred Stock Purchase Agreement attached herein as Exhibit 10.2 to this Current Report on Form 8-K.
Item 3.02. Unregistered Sales of Equity Securities.
The information set forth under Item 1.01 is incorporated by reference into this Item 3.02.
The Company claims an exemption from the registration requirements of the Act for the private placement of the securities referenced herein pursuant to Section 4(2) of the Securities Act of 1933 and/or Regulation D promulgated thereunder since, among other things, the transaction did not involve a public offering, the investors were accredited investors and/or qualified institutional buyers, the investors had access to information about us and their investment, the investors took the securities for investment and not resale, and we took appropriate measures to restrict the transfer of the securities.
Item 3.03 Material Modification to Rights of Security Holders.
On September 23, 2011, the Corporation filed the Certificate of Designation with the Delaware Secretary of the State pursuant to which the Corporation set forth the designation, powers, rights, privileges, preferences and restrictions of the Series B Preferred Stock. Among other things, each one share of Series B Preferred Stock shall entitle the Series B Holder to have voting rights equal to (x) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote divided by (y) forty nine one-hundredths (0.49) minus (z) the total issued and outstanding Common Stock eligible to vote at the time of the respective vote. For the avoidance of doubt, if the total issued and outstanding Common Stock eligible to vote at the time of the respective vote is 5,000,000, the voting rights of the Series B Preferred Stock shall be equal to 5,204,082 (e.g. (5,000,000 / 0.49) – 5,000,000 = 5,204,082).
The foregoing description of the Series B Preferred Stock does not purport to be complete and is subject to, and qualified in its entirety by, the Certificate of Designation, a copy of which is attached hereto as Exhibit 4.1 and incorporated herein by reference.
--------------------------------------------------------------------------------
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
The Certificate of Incorporation of the Corporation authorizes the issuance of up to 1,000,000 shares of preferred stock and further authorizes the Board of Directors of the Corporation (the “Board”) to fix and determine the designation, preferences, conversion rights, or other rights, including voting rights, qualifications, limitations, or restrictions of the preferred stock. However, so long as any shares of Series A Convertible Preferred Stock (“Series A Preferred”) are outstanding, the Company shall not, without first obtaining the unanimous written consent of the holders of Series A Preferred, alter or change the rights, preferences or privileges of the Series A Preferred so as to affect adversely the holders of Series A Preferred Stock. On September 14, 2011 the Board approved by unanimous written consent an amendment to the Corporation’s Certificate of Incorporation to designate the rights and preferences of Series B Preferred Stock. On September 14, 2011 the holders of Series A Preferred approved by unanimous written consent an amendment to the Corporation’s Certificate of incorporation to designate the rights and preferences of Series B Preferred Stock.
On September 23, 2011, the Corporation filed the Certificate of Designation with the Delaware Secretary of State. The Series B Preferred Stock is being issued to the Series B Holder as described in Item 1.01 of this Form 8-K, which is incorporated by reference into this Item 5.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
4.1* Certificate of Designation of Series B Preferred Stock filed with the Delaware Secretary of State on September 23, 2011
10.1 Form of Promissory Note (incorporated by reference to Exhibit 10.1 to the Corporation’s Form 8-K filed on April 14, 2011).
10.2 Form of Preferred Stock Purchase Agreement (incorporated herein by reference to Exhibit to 10.1 to the Corporation’s Form 8-K filed on
--------------------------------------------------------------------------------
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SILVERSUN TECHNOLOGIES, INC.
Date: September 27, 2011 By: /s/ Mark Meller
Mark Meller
President, Chief Executive Officer and
Principal Accounting Officer
Exhibit 4.1
CERTIFICATE OF DESIGNATIONS,
PREFERENCES AND RIGHTS OF
SERIES B PREFERRED STOCK, $.001 PAR VALUE PER SHARE
SilverSun Technologies, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Corporation”), hereby certifies that the following resolution was adopted by the Board of Directors of the Corporation (the “Board”) on September 14, 2011 in accordance with the provisions of its Certificate of Incorporation (as amended and may be amended from time to time, the “Certificate of Incorporation”) and by-laws. The authorized series of the Corporation’s previously-authorized preferred stock shall have the following preferences, privileges, powers and restrictions thereof, as follows:
RESOLVED, that pursuant to the authority granted to and vested in the Board in accordance with the provisions of the Certificate of Incorporation, as amended, and by-laws of the Corporation, the Board hereby authorizes a series of the Corporation’s previously authorized preferred stock (the “Preferred Stock”), and hereby states the designation and number of shares, and fixes the relative rights, preferences, privileges, powers and restrictions thereof as follows:
I. NAME OF THE CORPORATION
SilverSun Technologies, Inc.
II. DESIGNATION AND AMOUNT; DIVIDENDS
A. Designation. The designation of said series of preferred stock shall be Series B Preferred Stock, $.001 par value per share (the “Series B Preferred”).
B. Number of Shares. The number of shares of Series B Preferred authorized shall be one (1) share and shall have a stated value equal to $1.00 (as may be adjusted for any stock dividends, combinations or splits with respect to such shares) (the “Series B Stated Value”).
C. Dividends: Initially, there will be no dividends due or payable on the Series B Preferred. Any future terms with respect to dividends shall be determined by the Board consistent with the Corporation’s Certificate of Incorporation. Any and all such future terms concerning dividends shall be reflected in an amendment to this Certificate, which the Board shall promptly file or cause to be filed.
III. LIQUIDATION AND REDEMPTION RIGHTS.
In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, the holder of Series B Preferred shall be entitled to receive, on parity with the holders Common Stock, assets of the Corporation available for distribution to the holders of capital stock of the Corporation. The Series B Preferred shall not have any priority or preference with respect to any distribution of any of the assets of the Corporation. Neither a consolidation or merger of the Corporation with another corporation or other entity nor a sale, transfer, lease or exchange of all or part of the Corporation's assets will be considered a liquidation, dissolution or winding up of the affairs of the Corporation for purposes of this Article III.
--------------------------------------------------------------------------------
IV. RANK
All shares of the Series B Preferred shall rank (i) senior to the Corporation’s Class A common stock, par value $.00001 per share (“Class A Common Stock”), senior to the Corporation’s Class B common stock, par value $.00001 per share (“Class B Common Stock”), senior the Corporation’s Series A Convertible Preferred Stock and any other class or series of capital stock of the Corporation hereafter created, (ii) pari passu with any class or series of capital stock of the Corporation hereafter created and specifically ranking, by its terms, on par with the Series B Preferred and (iii) junior to any class or series of capital stock of the Corporation hereafter created specifically ranking, by its terms, senior to the Series B Preferred, in each case as to distribution of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary.
VI. VOTING RIGHTS
Each one (1) share of the Series B Preferred shall have voting rights equal to (x) the total issued and outstanding Common Stock and Preferred Stock eligible to vote at the time of the respective vote divided by (y) forty nine one-hundredths (0.49) minus (z) the total issued and outstanding Common Stock plus Preferred Stock eligible to vote at the time of the respective vote. For the avoidance of doubt, if the total issued and outstanding Common Stock plus Preferred Stock eligible to vote at the time of the respective vote is 5,000,000, the voting rights of the Series B Preferred Stock shall be equal to 5,204,082 (e.g. (5,000,000 / 0.49) – 5,000,000 = 5,204,082).
VII. PROTECTION PROVISIONS
So long as any shares of Series B Preferred are outstanding, the Corporation shall not, without first obtaining the unanimous written consent of the holders of Series B Preferred, alter or change the rights, preferences or privileges of the Series B Preferred so as to affect adversely the holders of Series B Preferred.
XIII. MISCELLANEOUS
A. Status of Redeemed Stock: In case any shares of Series B Preferred shall be redeemed or otherwise reacquired, the shares so redeemed or reacquired shall resume the status of authorized but unissued shares of preferred stock, and shall no longer be designated as Series B Preferred.
B. Lost or Stolen Certificates: Upon receipt by the Corporation of (i) evidence of the loss, theft, destruction or mutilation of any Preferred Stock Certificate(s) and (ii) in the case of loss, theft or destruction, indemnity (with a bond or other security) reasonably satisfactory to the Corporation, or in the case of mutilation, the Preferred Stock Certificate(s) (surrendered for cancellation), the Corporation shall execute and deliver new Preferred Stock Certificates.
C. Waiver: Notwithstanding any provision in this Certificate of Designation to the contrary, any provision contained herein and any right of the holders of Series B Preferred granted hereunder may be waived as to all shares of Series B Preferred (and the holders thereof) upon the unanimous written consent of the holders of the Series B Preferred.
--------------------------------------------------------------------------------
D.Notices: Any notices required or permitted to be given under the terms hereof shall be sent by certified or registered mail (return receipt requested) or delivered personally, by nationally recognized overnight carrier or by confirmed facsimile transmission, and shall be effective five (5) days after being placed in the mail, if mailed, or upon receipt or refusal of receipt, if delivered personally or by nationally recognized overnight carrier or confirmed facsimile transmission, in each case addressed to a party as set forth below, or such other address and telephone and fax number as may be designated in writing hereafter in the same manner as set forth in this Section.
If to the Corporation:
SilverSun Technologies, Inc.
5 Regent Street, Suite 520
Livingston, New Jersey 07039
Attention: Mark Meller;
Telephone: (973) 758-6100
Facsimile: (973) 758-6120
If to the holder of Series B Preferred, to the address listed in the Corporation’s books and records.
IN WITNESS WHEREOF, the undersigned has signed this certificate as of the 23rd day of September, 2011.
SILVERSUN TECHNOLOGIES, INC.
By: /s/ Mark Meller
Name: Mark Meller
Title: President and Chief Executive Officer
This stock MAY go up if they release a PR that says something like... "ALL of PSID's competitors went out of business today. Also, the government has ordered mandatory use of all PSID products by everyone in the world. Finally, even if PSID does not have a product on the market, they will be kept afloat by endless money."
Then, MAYBE, it would go up a little.
They always put out PRs that sound positive, followed by the PPS dropping. Check the history of PSID. Don't ask me why, any other stock putting out PRs about patents and such usually go up, but not PSID. When pink sheet stocks do this it is usually due to the company dumping shares.
We'll see what happens.
Another PR, must mean the PPS is going down some more.
Maybe they took out a cash advance on a credit card.
Sounds like they should have gone with "SomeKinda Technologies".
Avast ye Earth lubbers. The great white space whale will have to come up for air sometime.