Workflow
SilverSun Technologies(SSNT)
icon
Search documents
SilverSun Technologies(SSNT) - 2022 Q1 - Quarterly Report
2022-05-12 13:00
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 ...
SilverSun Technologies(SSNT) - 2021 Q4 - Annual Report
2022-03-29 13:15
Revenue and Sales Performance - Revenues for the year ended December 31, 2021 increased by $480,974 (1.2%) to $41,701,380 compared to $41,220,406 for the year ended December 31, 2020[163]. - Software sales increased by $201,807 (2.6%) to $7,863,387 in 2021 from $7,661,580 in 2020, driven by cloud-based ERP software and third-party solutions[163]. - Service revenue increased by $279,167 (0.8%) to $33,837,993 in 2021 from $33,558,826 in 2020, mainly due to managed services and application hosting[164]. Profitability and Expenses - Gross profit for the year ended December 31, 2021 increased by $629,077 (3.8%) to $17,208,058 compared to $16,578,981 for the year ended December 31, 2020[165]. - The overall gross profit percentage was 41.3% for 2021, up from 40.2% in 2020[165]. - The company reported a net loss of $134,434 for the year ended December 31, 2021, compared to a net income of $175,647 for the year ended December 31, 2020[176]. - Operating expenses decreased by $646,003 (8.8%) in selling and marketing expenses, while general and administrative expenses increased by $1,128,701 (13.6%)[168][169]. - The company generated income before taxes of $43,571 for the year ended December 31, 2021, down from $223,038 for the year ended December 31, 2020[174]. Cash Flow and Liquidity - The Company reported a net increase in cash of $218,701 for the year ended December 31, 2021, compared to a net cash increase of $1,729,091 for the year ended December 31, 2020[190]. - Cash provided by operating activities decreased to $226,034 for the year ended December 31, 2021, down from $1,729,091 in the previous year, primarily due to an increase in prepaid expenses and accounts receivable[190]. - Cash used in investing activities was $510,464 for the year ended December 31, 2021, compared to cash provided of $839,808 in 2020, with $645,703 spent on acquiring new businesses[191]. - Financing activities provided cash of $503,131 for the year ended December 31, 2021, a significant increase from cash used of $4,631,884 in 2020, attributed to net proceeds of $4,180,904 from the sale of common stock[192]. - The Company believes it has adequate liquidity to fund its operating plans for at least the next twelve months[193]. Strategic Acquisitions and Investments - The company has completed a series of strategic acquisitions over the past fifteen years to expand its market presence[160]. - The Company plans to pursue strategic acquisitions and investments to enhance operating income, which may require additional cash or equity[180]. - The Company issued a promissory note of $130,000 for the acquisition of assets from CT-Solution, Inc., due in 36 months with a 2% annual interest rate[186]. - An asset purchase agreement with Dynamic Tech Services, Inc. involved a total purchase price of $1,335,000, with $500,000 paid in cash and $835,000 through a promissory note[188]. Dividends and Shareholder Returns - The Company issued a special cash dividend of $0.60 per share, totaling $3,081,706, paid on July 16, 2021[184]. Economic Impact - There was no significant impact on the Company's operations due to inflation for the year ended December 31, 2021[194].
SilverSun Technologies(SSNT) - 2021 Q3 - Quarterly Report
2021-11-09 14:01
FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission File Number: 001-38063 SILVERSUN TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other juris ...
SilverSun Technologies(SSNT) - 2021 Q2 - Quarterly Report
2021-08-10 13:01
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, 2021 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 ...
SilverSun Technologies(SSNT) - 2021 Q1 - Quarterly Report
2021-05-11 12:01
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, 2021 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) Delaware 16-1633636 120 E ...
SilverSun Technologies(SSNT) - 2020 Q4 - Annual Report
2021-03-25 12:00
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, 2020 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) (State or other jurisdiction of incorporation or organization) Delaware 16-1633636 (I.R.S. Employe ...