Core Viewpoint - SilverSun Technologies' stock has declined following CEO Mark Meller's sale of shares, which may signal a lack of confidence in the company's future performance [1][2]. Stock Sales Summary - CEO Mark Meller sold a total of 96,556 shares of SilverSun Technologies (SSNT) stock, amounting to approximately $2.2 million [5]. - The sales occurred over several days, with Meller's total shares owned decreasing from 270,944 to 174,388 [1]. - Specific sales included: - 21,640 shares sold at an average price of $18.8666 on May 31, 2024 - 53,856 shares sold at an average price of $18.3823 on June 3, 2024 - 31,000 shares sold at an average price of $18.685 on June 4, 2024 - 11,700 shares sold at an average price of $19.0705 on June 4, 2024 [5]. Market Reaction - Following the stock sales, SSNT stock experienced a decline of 19.7% as of Wednesday morning [2].

Revenue Growth - Revenues increased by 10% to $14.4 million for the three months ended March 31, 2024, compared to $13.1 million for the same period in 2023[143]. - Software revenues rose by 4.7% to $3.48 million for the three months ended March 31, 2024, primarily due to increased ERP software sales, especially for Sage Intacct and Acumatica[152]. - Service and other revenue increased by 11.7% to $10.96 million for the three months ended March 31, 2024, attributed to growth in professional services and hosting services[153]. Profitability - Gross profit for the three months ended March 31, 2024, increased by 5.6% to $5.66 million, with a gross profit percentage of 39.2% compared to 40.8% in the prior year[154]. - Gross profit from software revenues decreased by $108,876 (7.8%) to $1,281,178 for Q1 2024 compared to Q1 2023, with a gross profit percentage of 36.8% down from 41.8%[155]. - Gross profit from services and other increased by $408,803 (10.3%) to $4,376,309 for Q1 2024 compared to Q1 2023, with a gross profit percentage of 39.9% down from 40.5%[156]. Operating Expenses - Operating expenses increased by $166,713 (7.7%) to $2,345,416 for Q1 2024, primarily due to salary increases and new personnel[157]. - General and administrative expenses rose by $283,878 (11.1%) to $2,843,906 for Q1 2024, driven by salary increases and higher employee benefits[158]. Net Income - Net income from operations decreased to $227,686 for Q1 2024, down from $369,537 in Q1 2023[161]. Cash Flow and Working Capital - The company's working capital increased to $555,974 at March 31, 2024, compared to $273,762 at December 31, 2023[167]. - Cash provided by operating activities was $365,512 for Q1 2024, a significant improvement from cash used of $783,062 in the same period of 2023[167]. - Cash used in investing activities increased to $60,524 for Q1 2024, compared to $4,979 in Q1 2023, mainly due to higher equipment purchases[168]. Strategic Focus - The company is focused on expanding its customer base through organic growth and acquisitions, establishing a national presence with ERP customers across most of the United States[143]. - The company has completed a series of strategic acquisitions over the past fifteen years, significantly expanding its operational footprint[140]. - The company plans to continue seeking additional growth opportunities through potential acquisitions and partnerships[141]. - The company is investing in product development, marketing, and sales capabilities to remain competitive and support future growth[143]. - The company is exploring additional operating income opportunities through potential acquisitions and product additions[165]. Recruitment Challenges - The company has faced challenges in recruiting but has successfully increased consulting staff and utilized outside contractors to support growth[153]. Financial Agreements - An investment agreement was entered into for an aggregate investment of $1 billion, which includes a cash dividend of $17.4 million to stockholders[144][146]. - The company has no line of credit or other credit facility with any lender as of now[163].

Revenue Growth - Revenues for the year ended December 31, 2023 increased by $9,531,665 (21.2%) to $54,516,941 compared to $44,985,276 for 2022, driven by increases in professional consulting services and software sales [267]. - Software sales rose by $2,329,411 (19.8%) to $14,110,773 in 2023 from $11,781,362 in 2022, primarily due to increased ERP software sales, particularly for Acumatica and Sage Intacct [267]. - Service revenue increased by $7,202,254 (21.7%) to $40,406,168 in 2023 from $33,203,914 in 2022, attributed to growth in professional services and hosting services [268]. Profitability - Gross profit for the year ended December 31, 2023 increased by $3,653,073 (20.3%) to $21,613,809, with an overall gross profit percentage of 39.6% [269]. - The gross profit attributed to software sales increased by $894,448 (19.0%) to $5,598,006 for 2023, while the gross profit percentage for software was 39.7% [270]. - The company reported net income from operations of $1,674,259 for the year ended December 31, 2023, compared to a loss of $385,379 in 2022 [276]. Expenses - Operating expenses, including selling and marketing, increased by $1,107,474 (14.3%) to $8,852,739, primarily due to salary increases and new personnel [272]. - General and administrative expenses rose by $745,532 (7.9%) to $10,217,157, driven by salary increases and accrued compensation [273]. - The Company incurred other expenses of $2,986,107 related to the termination of a merger agreement for the year ended December 31, 2023 [277]. Losses - The Company reported a loss before taxes of $1,367,514 for the year ended December 31, 2023, compared to a loss of $474,403 for the previous year [278]. - The net loss for the year ended December 31, 2023, was $1,070,095, an increase from a net loss of $282,219 in 2022 [281]. Cash Flow and Working Capital - The Company's working capital decreased to $273,762 at December 31, 2023, from $2,946,349 at the end of 2022 [287]. - Cash provided by operating activities was $583,805 for the year ended December 31, 2023, down from $2,038,392 in 2022 [287]. - Cash used in investing activities increased to $399,416 in 2023 from $188,742 in 2022, primarily due to higher acquisition costs [288]. - Cash used in financing activities rose to $2,049,724 in 2023 compared to $655,134 in 2022, attributed to cash dividends and increased long-term debt payments [289]. Strategic Actions - On November 13, 2023, the company acquired certain assets from JCS Computer Resource Corporation related to being a value-added reseller of Sage 100, Sage 50, and QuickBooks software [264]. - An Investment Agreement was entered into on December 3, 2023, providing for an aggregate investment of $1,000,000,000 in cash, with $900,000,000 from Jacobs Private Equity II, LLC [266]. - The Company plans to seek additional operating income opportunities through potential acquisitions or investments [284]. Economic Factors - Inflation has negatively impacted profitability due to increased costs for recruiting and retaining personnel [291]. - The Company currently has no line of credit or other credit facility with any lender [283].

Revenue Growth - Revenues increased by 22.2% to $39.8 million for the nine months ended September 30, 2023, compared to $32.6 million for the same period in 2022[147]. - Software revenues rose by 20.3% to $9.47 million for the nine months ended September 30, 2023, driven by increased sales of Acumatica and Sage Intacct products[151]. - Service revenue increased by 22.8% to $30.34 million for the nine months ended September 30, 2023, attributed to growth in professional services and hosting services[152]. Profitability - Gross profit for the nine months ended September 30, 2023, increased by 19.8% to $15.89 million, with a gross profit percentage of 39.9%[153]. - Gross profit attributed to services increased by $710,835 (20.1%) to $4,254,136 for the three months ended September 30, 2023, compared to $3,543,301 for the same period in 2022[155]. - The company reported net income from operations of $427,455 for the three months ended September 30, 2023, compared to a loss of $117,610 for the same period in 2022[161]. Business Strategy - The company executed a multi-pronged business strategy focused on recurring revenue and customer retention, enhancing average revenue per customer[136]. - The company plans to continue seeking growth through acquisitions, revenue sharing arrangements, and partnerships[145]. - The company continues to explore acquisitions and investments to increase operating income and profitability[166]. Operational Changes - The company has invested in increasing consulting staff and system improvements, which positively impacted financial performance[152]. - The company terminated its merger agreement with Rhodium Enterprises, Inc. on October 13, 2023[149]. - Other expenses included $2,936,107 related to a terminated merger agreement, charged as deal costs[162]. Expenses - Operating expenses for the three months ended September 30, 2023 increased by $211,676 (10.5%) to $2,228,526, primarily due to salary increases and higher commissions[156]. - General and administrative expenses rose by $253,269 (11.3%) to $2,497,891 for the three months ended September 30, 2023, driven by salary increases and accrued compensation[157]. - Share-based compensation decreased by $44,185 (100%) for the three months ended September 30, 2023, resulting in $0 compared to $44,185 for the same period in 2022[158]. Financial Position - The company's working capital decreased to $487,090 at September 30, 2023, from $2,946,349 at December 31, 2022[169]. - Cash used in financing activities increased to $1,871,929 for the nine months ended September 30, 2023, primarily due to cash dividends paid to shareholders[172]. Impact of COVID-19 - The company continues to monitor the impact of COVID-19 on its operations and customer base, with no significant future impact expected[148]. Losses - Losses before taxes for the three months ended September 30, 2023 were $2,566,299, compared to losses of $141,298 for the same period in 2022[163].

Revenue Growth - Revenues increased 21.8% to $26.4 million for the six months ended June 30, 2023, compared to $21.7 million for the same period in 2022[158]. - Software revenues increased 22.8% to $6.6 million for the six months ended June 30, 2023, compared to $5.4 million for the same period in 2022, driven by growth in ERP software sales, particularly for Acumatica and Sage Intacct[164]. - Service revenue increased 21.5% to $19.8 million for the six months ended June 30, 2023, compared to $16.3 million for the same period in 2022, mainly due to increased professional services and hosting services[165]. Profitability - Gross profit for the six months ended June 30, 2023, increased 19.4% to $10.5 million, with a gross profit percentage of 40.0% compared to 40.8% for the same period in 2022[166]. - Gross profit attributed to services increased by $883,126 (29.1%) to $3,914,586 for the three months ended June 30, 2023, compared to $3,031,460 for the same period in 2022[168]. - Net income from operations for the three months ended June 30, 2023 was $456,264, a turnaround from a loss of $79,246 in the same period of 2022[174]. Operating Expenses - Operating expenses for the three months ended June 30, 2023 increased by $288,565 (15.6%) to $2,141,468, primarily due to salary increases and higher commissions[169]. - General and administrative expenses rose by $312,639 (15.1%) to $2,383,784 for the three months ended June 30, 2023, driven by salary increases and accrued compensation[170]. Business Strategy - The company is executing a multi-pronged business strategy focused on recurring revenue and customer retention, aiming to increase the installed customer base through traditional sales and acquisitions[147]. - The company has completed a series of strategic acquisitions over the past fifteen years, expanding its footprint to nearly every U.S. state[155]. - The company plans to continue seeking additional growth opportunities through potential acquisitions and partnerships, which may require additional cash or equity[156]. - A definitive merger agreement was entered into with Rhodium Enterprises, expected to close in 2023, which will further enhance the company's growth strategy[160][161]. Cash Flow and Working Capital - The company's working capital increased to $3,957,224 at June 30, 2023, up from $2,946,349 at December 31, 2022, mainly due to lower accounts payable[180]. - Cash used in operating activities decreased to $323,786 for the six months ended June 30, 2023, compared to $485,308 for the same period in 2022[180]. - Cash used in investing activities was $23,860 for the six months ended June 30, 2023, significantly lower than $180,549 for the same period in 2022[181]. - Cash used in financing activities increased to $531,205 for the six months ended June 30, 2023, compared to $274,586 for the same period in 2022, due to higher long-term debt payments[182]. - Future payments of long-term debt total $1,032,076, with $361,062 due in the remainder of 2023[179]. Market Conditions - The company is monitoring the impact of COVID-19 on its operations and is focused on assisting customers with their digital transformation[159]. - The company continues to explore acquisitions and investments to enhance operating income opportunities[178].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38063 SILVERSUN TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-38063 SILVERSUN TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 16-1633636 (State or other jurisdiction of incorporation or organization) 120 Eagle Rock ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38063 SILVERSUN TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38063 SILVERSUN TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 16-1633636 (I.R.S. Employer Identification No.) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2021 Commission file number: 001-38063 or SILVERS ...