SilverSun Technologies Inc. SSNT Archives

TuesdayNov 01, 2011 12:50 pm

SilverSun Technologies, Inc. (SSNT) Repays Outstanding Short Term Bridge Loans

SilverSun Technologies, the total solutions provider specializing in business software for the small and medium-sized business market, today announced that the Company has repaid, in full, two loans made by accredited investors in April 2011, in the aggregate amount of $550,000.The $550,000 was used to extinguish all of the Company's obligations under the previously outstanding convertible debentures held by YA Global. No further obligations are owed to either YA Global or to the accredited investors. The funds were provided by a $750,000 loan facility provided to the Company by a commercial bank. The loan is a 36 month facility, secured…

ThursdayAug 04, 2011 8:49 pm

SilverSun Technologies, Inc. (SSNT) Reports Earnings for Second Quarter

SilverSun Technologies, the total solutions provider specializing in business software for the small and medium-sized business market, reported its financial results for its second fiscal quarter and for the six month fiscal period ending June 30, 2011 in a Form 10-Q filed with the Securities and Exchange Commission. For the fiscal quarter ending June 30, 2011, the Company reported revenue of $2,692,078, as compared to $1,787,425 for the second fiscal quarter of 2010, an increase of 50.6%. The Company reported, on a consolidated basis, net income of $2,352,531 in the fiscal quarter ending June 30, 2011, as compared to a…

ThursdayJul 28, 2011 10:25 am

SilverSun Technologies, Inc. (SSNT) Closes Large Software Transaction

SilverSun Technologies announced today that the company's wholly owned subsidiary, SWK Technologies, Inc., the premier total solutions provider specializing in business software for manufacturers and distributors, has closed on a software sale valued at over $150,000. The transaction involves the sale of Sage ERP MAS 200 SQL software and attendant consulting services. In a separate development, SWK successfully secured the first client for its proprietary Brewery Management System ("BMS"). BMS, which is a cloud-based application designed for microbreweries and their distributors that integrates with Sage Software solutions, offers a real-time view of all orders for management, distributors and customers. A…

TuesdayJul 26, 2011 9:10 am

SilverSun Technologies, Inc. (SSNT) Announces Stanley Wunderlich Joins Board of Directors

SilverSun Technologies, the premier total solutions provider specializing in business software for the small and medium-sized business market, announced today that Stanley Wunderlich has been appointed to its Board of Directors as an independent director. Mr. Wunderlich has had a long and distinguished career of more than 40 years on Wall Street. He is the founding partner of CFSG1, a leading consulting firm that specializes in investor and media relations, corporate development, and the formation of capital for early-growth stage companies. A specialist in corporate development, he has participated in numerous initial public offerings, private placements of equities and institutional…

ThursdayJul 21, 2011 9:14 am

SilverSun Technologies, Inc. (SSNT) Eliminates Additional $1.3 Million of Debt

SilverSun Technologies announced today that it has eliminated an additional $1,338,960 of debt from its balance sheet. The debt, which has been forgiven, was due and owing the Company's Chief Executive Officer, Mark Meller. This debt reduction follows the redemption and elimination of the Company's convertible debentures and associated liabilities, which were retired this past April. The total amount of debt and liabilities removed from the Company's balance sheet since April 1, 2011 now exceeds $3,567,000. Mark Meller, CEO of SilverSun Technologies, stated, "As a significant shareholder in our Company, I agreed to forgive this debt because I believe that…

WednesdayJul 20, 2011 10:13 am

SilverSun Technologies, Inc. (SSNT) Introduces Eight New Proprietary Products

SilverSun Technologies announced today that its subsidiary, SWK Technologies, launched eight new proprietary products at the annual Sage Summit last week, led by a brand new integration for SWK's MAPADOC EDI solution. Among the products introduced were: MAPADOC for Sage ERP X3 ("MDX3") - MAPADOC is an integrated Electronic Data Interchange (EDI) software solution built specifically to integrate fully with Sage MAS 90, 200 and 500, and now, with Sage ERP X3. The Sage staff and business partners who saw a demo of this new offering at Sage Summit were "excited and impressed." SWK Brewery Management System ("BMS") - BMS…

TuesdayJul 19, 2011 10:25 am

SilverSun Technologies, Inc. (SSNT) Announces Sage ERP X3 Sale

SilverSun Technologies announced today that its subsidiary, SWK Technologies, has closed a significant sale of Sage ERP X3, Sage's flagship global ERP solution for mid-sized and larger businesses. The value of the transaction is estimated at greater than $225,000. The client is a process manufacturer of food flavorings. Mark Meller, CEO of SilverSun Technologies, stated, "SWK has made a significant commitment to Sage ERP X3, in both time and money. This represents the 5th Sage X3 sale we've closed. As one of a handful of nationwide Sage business partners to recently adopt Sage ERP X3, SWK is one of very…

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