NJ TECH CORNER: SilverSun Technologies Inc.
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.]
