SilverSun Technologies Inc (SSNT)

[maestro_of_Ihub]

BLACK AND WHITE!!!

The truth of what happened here is finally explained beyond a shadow of a doubt in this SEC Filing, and here is all you need to know about management and the value of this stock.


"On January 4, 2012 in accordance with options granted in January 2011, Mr. Meller sold portions of his Convertible Note payable to certain employees of SWK Technologies, Inc. in the amount of $13,235. On January 4, 2012, Mr. Meller converted $30,458 of the Convertible Note into 60,154,178 shares of Class A Common Stock, and those certain employees converted the $13,238 into 23,139,523 shares of Class A Common Stock. As a consequence the Company recognized $719,267 expense in 2012."

So the company was diluted or should we say handed over to the CEO and Employees for how much?? Lets do the math shall we.....

CEO = $30,458/60,154,178 = $0.0005
Employees = $13,238/23,139,523 = $0.0006

and this is not pre split pricing either!! This is POST SPLIT!!!

WOW!!!

The CEO forgives $1.2MM in debt to clear up the balance sheet, and instead takes over the entire company with the Employees, and the 20% SKW ownership, for a small loan!!leaving the previous shareholders on the outside looking in!!

Now the PPS is 600 times higher than the converted PPS, and the $30K is $18,000,000!!!

This is why the stock never has to go up a penny for management to get rich!! They already are rich even at 30 cents!!

and this is why I bailed and would never touch this POC again!!

Oh and Clowny and Det Good luck spinning this 10Q as a good thing!! No one is that clueless!! with 60,000,000 free shares at 30 cents I would be unloading at will!!!

maestro