SilverSun Technologies Inc (SSNT)

[Det_Robert_Thorne]

Thankfully, I'm wrong about preferred share conversion quantity

Originally, I thought that the 5B voting rights for each convertible preferred share would translate to 5B shares upon conversion, and that may have signified a conversion price equivalent of $0.00005.

Having looked over the filing, I believe that I was wrong in my initial assessment, and that the eventual, MANDATORY conversion of this shares will only result in additional number of common shares of roughly 80M per convertible preferred shares, or 160M total.

Obviously, this is much, much lower than my original estimate.

How do I come up with 160M?

Exhibit 4-1, filed with the 8-K states that mandatory conversion will take place:

"... upon written demand of the Corporation, which demand shall be made no later than January 15, 2012, unless otherwise agreed by the mutual consent of the parties in writing"

http://edgar.sec.gov/Archives/edgar/data/1236275/000118518511000659/ex4-1.htm

So, no later than Jan 15, 2012, the conversion will take place.

As to the number of shares upon conversion, exhibit 4-1 goes on to say:

"...each one share of Series A Preferred Stock shall be converted into that number of shares of Class A Common Stock as shall equal one percent (1%) of the issued and outstanding shares of Class A Common Stock of the Corporation immediately following the time of the Conversion."

Right now, there are only 8B outstanding and issued shares, with 1% of that number being 80M, so unless there is a significant increase or decrease in the number of OS, the total number of shares added would be roughly 160M.

Obviously, this is far better than the 10B I originally suspected. In my defense, the earlier filings didn't explain the conversion process, and we only had the 5B voting rights to go by.

Finally, since this conversion process is not based on price, then my other theory that the 10B would be valued at $0.00005/share is disproved, and that means that the lowest issued price is still $0.0001, which means the theory that Meller's 26B shares upon conversion of his deferred salary doubling to 52B is also moot.