SilverSun Technologies Inc (SSNT)

[Det_Robert_Thorne]

I may be looking out too far

Yeah, I'm probably looking out too far when I talk about one 2012-2013 scenario that includes a reverse split.

OTOH, I'm trying to put myself in Meller's shoes and look at how I would deal with the 75% ownership issue.

If he takes cash as partial repayment, he loses some of his ownership.

If he does a buyback before he converts, then that only increases his stake, and (I'm not at all sure of this) that could border on the illegal, as it would mean he was using company money to increase his ownership.

If he converts, he might have to file a shelf registration offering to sell X million shares, or perhaps he might not. I'm not exactly sure how this would work. DTLK recently filed for an offering, and as part of that offering, a shareholder is putting up 800K shares.

Maybe in the case of a buyback, the company could set it up in such a way that 75% of the shares come from Meller, and the rest from the open market.

I own shares in a semiconductor company, IXYS. It's CEO owns about 15% of the stock, and they recently authorized a share buyback of 1M shares (about 3%). They've done buybacks in the past. I'm gonna have to do some research as to whether the CEO has filed any form 4s during the last couple of buybacks, or if his percentage has increased despite no personal buys on his part.