NJ TECH CORNER: SilverSun Technologies Inc.
Photo: Mark Meller, Chairman and CEO of Silversun Photo Credit: Silversun Technologies
Mark Meller, Chairman and CEO of Silversun | Silversun Technologies

Company Overview

SilverSun Technologies, Inc. (OTCQB:  SSNT) is a business application, technology and consulting company providing strategies and solutions to meet its clients’ information, technology and business management needs. Its services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the “cloud.” As a value added reseller of business application software, it offers solutions for accounting and business management, financial reporting, Enterprise Resource Planning (“ERP”), Warehouse Management Systems (“WMS”), Customer Relationship Management (“CRM”), and Business Intelligence (“BI”). Additionally, it publishes a proprietary software solutions for Electronic Data Interchange (“EDI”), time and billing, and various ERP enhancements. The company also has a dedicated network services practice that provides managed services, hosting, business continuity, cloud, email and web services. Compounded annual growth over the last seven years has been 29 percent, and the company has completed 10 acquisitions over the last six years.  As a result, the company anticipates being listed on NASDAQ within the next 30 days.  Based in East Hanover, N.J., the company has 139 full-time employees, as of March 30, 2016

 Investment & Financial Information

 

Shares of common stock outstanding (as of March 30, 2016):

4,477,403

Share price of stock (as of March 17, 2017)

 $4.28

Share price of stock (one year ago)

 $1.87

Current valuation (as of March 17, 2017)

 $19.16 million

Valuation one year ago

 $8.25 million

Stock Symbol:

OTCQB:SST

Net Revenues (9-months ended 9/30/16)

$25.88. million

Net Revenues previous year

$27.64 million

Net Income (9-months ended 9/30/16)

9999/309/30/162015vvvvmontmonths ended)

$3,372,8035

Net Income previous year:

$   374,305

 

 Management Team

Name

Age

Title

Mark Meller

57

Chairman. CEO, President

Crandall Melvin III

60

  Chief Financial Officer

 
 Board of Directors

Name

Age

Title

Mark Meller

57

 Chairman, CEO, President

Stanley Wunderlich

67

 CEO, Consulting for Strategic Growth 1, Ltd.

  Joseph Macaluso

65

 Principal Accounting Officer, Instrumental     Electronics Corp.

  

Noteworthy Control

 

Name

Shares of common stock owned

% of total common shares

Mark Meller

2,006,534

45.49%

Jeffrey Roth

1,025,383

22.9%

Crandall Melvin III

74,589

1.69%

 

[All information for NJ Tech Corner was taken from the company's annual report and proxy statement and other company sources, with the exception of the company's stock price and valuation.]

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