Replies to post #4897 on SilverSun Technologies Inc (SSNT)

[Det_Robert_Thorne]

Guessed you missed some statements in filings, Clownman

You're correct about the number of authorized shares being 10B, and that a filing would have to take place before increasing the number authorized shares, but according to the PR announcing the retirement of 650M shares, there are 8.05B shares outstanding at this time (someone also posted here that they confirmed that with the TA):

http://finance.yahoo.com/news/Trey-Resources-Announces-That-iw-1932147141.html?x=0&.v=1


In the S-8 filed in November, 2010, the company indicated as one of the "Risk Factors":

"Our President controls a significant percentage of our capital stock and has sufficient voting power to control the vote on substantially all corporate matters.

"As of November 8, 2010, Mark Meller, our President, owned approximately 74% of our outstanding shares of our Class A common stock (assuming the conversion of outstanding debt into shares of Class A common stock and/or Class B common stock). Mr. Meller may be able to influence all matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions. This concentration of ownership, which is not subject to any voting restrictions, could limit the price that investors might be willing to pay for our Class A common stock. In addition, Mr. Meller is in a position to impede transactions that may be desirable for other stockholders. They could, for example, make it more difficult for anyone to take control of us.

http://www.sec.gov/Archives/edgar/data/1236275/000118518510001385/trey-s8_111910.htm


Later in the document, they indicate that Meller owns nearly 22B shares, issuable on conversion of his $1.28M loan to the company.

I don't know how exactly how this conversion would actually occur, but if indeed Meller can control the voting, he can authorize the shares, submit the filing and convert the shares at any time.

Therefore, IMO, you have to include those shares in any REALISTIC calculation of company valuation, and based on the numbers I provided in an earlier post, the market already is doing that.

Look. I'm not trying to bash the company. I'm just trying to point out that there are a lot of factors here that Maestro never discusses, because they get in the way of his hype.