SilverSun Technologies' (OTCBB: SSNT) Subsidiary Closes on Another Major Sage ERP X3 Sale

Orlando, FL 4/19/12 (StreetBeat) -- SilverSun Technologies, Inc. (OTCBB: SSNT), a preferred source for best-of-breed business management applications and professional consulting services, today announced that its principal operating subsidiary, SWK Technologies, recently completed the sale of the Sage ERP X3 global enterprise solution to a major power generation facility in the Northeastern U.S.

The transaction was valued at more than $200,000.

Mark Meller, CEO of SilverSun Technologies, noted, "SWK continues on its path to become the pre-eminent reseller of Sage ERP X3 in North America. We have made a significant commitment to Sage ERP X3 in time and money, and our investment has been greatly rewarded. Our sales pipeline is strong, our consultants are extremely busy, and we regard Sage ERP X3 as an important component of our growth strategy in both 2012 and the years thereafter."

"The depth and breadth of the expertise we've developed in Sage ERP X3 has been recognized throughout the entire reseller channel," stated Jeffrey Roth, CEO of SWK. "We are often called upon by channel partners to jointly work on ERP X3 opportunities, and we have provided consulting services on situations where we were not actually involved in the sale of the software. As Sage ERP X3 continues its rapid penetration in the North American marketplace, SWK is well positioned to share in that rapid growth. We look forward to announcing additional Sage ERP X3 transactions in the very near future."

About SilverSun Technologies, Inc.
Headquartered in Livingston, New Jersey, SilverSun Technologies is involved in the acquisition and build-out of technology and software companies engaged in providing best of breed management applications and professional consulting services to small and medium size businesses (SMBs) in the manufacturing, distribution and service industries. Serving as SilverSun's principal operating subsidiary, SWK Technologies, Inc. employs a national direct sales and consulting team currently serving a growing customer base spanning 38 U.S. states and Canada.

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Record Revenue and Profits for SilverSun Tech (SSNT)

Tomahawk, WI 3/29/2012 (StreetBeat) – SilverSun Technologies, Inc. (OTCBB: SSNT), a total solutions provider specializing in business software for the small and medium-sized business market, today reported, in a press release, its financial results for the calendar year ended December 31, 2011.

SilverSun's revenues for the twelve months ended December 31, 2011, increased 40.5% year-over-year to a record $10,522,080 from $7,486,703 in 2010. Net income on a consolidated basis totaled $2,708,931 for the year ending December 31, 2011, also a record, as compared to a net loss of $568,505 on a consolidated basis for the year ended December 31, 2010, an increase of $3,277,436.

Earnings per share was $0.58 for the year ending December 31, 2011, as compared to a net loss of $0.13 per share for the previous year. Earnings per share on a fully diluted basis was $0.02 for the year ending December 31, 2011, versus a net loss per share of $0.13 on a fully diluted basis for 2010.

Mark Meller, Chief Executive Officer of SilverSun Technologies, stated, "This was a banner year for our Company, and we are very pleased to report financial improvements across the board. Operating profit, despite the expenses we incurred as a result of our restructuring, was still $260,000. Furthermore, we have secured a line of credit with a commercial lender and have reduced our total liabilities by $3,712,550, from $6,133,472 on March 30, 2011, to $2,420,922 as of December 31, 2011, a reduction of 60.5%."

"Our Company is working hard to execute on its aggressive growth plan," Meller continued. "With organic sales accelerating, significant reduction of our debt, and a profitable operating business, we are well positioned to commence the next phase of our growth strategy, which includes the acquisition of other resellers and proprietary products. We are excited about the future and look forward to providing additional information on further developments."

SilverSun Technologies is involved in the acquisition and build-out of technology and software companies. The Company's growth strategy is to acquire firms in the extensive and expanding, but highly fragmented, business solutions marketplace, as it seeks to create substantial value for shareholders.

Since June 2004, SilverSun has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc. Through its subsidiaries, the Company offers an array of accounting and business management products, including its own proprietary software, as well as a wide range of value-added services.

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SilverSun Technologies (OTCBB:SSNT) to Acquire HighTower's $3M Revenue

Tomahawk, WI 3/26/2012 (StreetBeat) – SilverSun Technologies, Inc. (OTCBB: SSNT) announced today, in a press release, that its wholly owned subsidiary, SWK Technologies, the premier total solutions provider specializing in business software solutions, has signed a letter of intent to acquire the assets of HighTower, Inc., a leading Chicago-based reseller of Sage Software products. SSNT is a lightly traded stock but opened today at double its closing price from last Friday of $0.07 per share. As I write, shares of SSNT were up 100 percent at $0.14 per share on volume of nearly 50,000 shares.

Founded in 1987, HighTower has installed systems at prominent companies throughout the Chicago region. The deal is expected to add more than $3,000,000 in annualized revenue and will be immediately accretive to SilverSun's earnings. It is anticipated that the transaction, which is subject to the signing of definitive agreements and customary closing conditions, will close within the next 30 days. The terms of the transaction were not disclosed.

Mark Meller, CEO of SilverSun, stated, "HighTower has a tremendous reputation spanning several decades as a valued Sage business partner and developer. The company has a solid revenue stream, widely used enhancements, and an established customer base."

"This transaction gives us critical mass, positioning us as one of the largest resellers of Sage Software in the United States," added Meller. "With our management talent, in-house expertise, and financial resources, we are confident that the combined companies will be able to accelerate sales and earnings growth. The acquisition, which will be funded by SilverSun's existing financing facilities on a non-dilutive basis to existing shareholders, is the second we have announced in 2012. We continue to execute our business plan to increase value for our shareholders by increasing sales and acquiring companies on an opportunistic basis."

Jeffrey D. Roth, CEO of SWK Technologies, commented, "This transaction makes SWK Technologies a dynamic force with significant market presence in the Midwest. HighTower has a catalog of proprietary enhancements, including TimeKeeper, Point of Sale Professional, Multi-Bin Advanced Distribution and others, which will significantly increase SWK's catalog of proprietary software and intellectual property. Our shared commitment to putting clients first ensures HighTower's client base will continue to receive superior service, and we are very excited about the future."

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UPDATE: SilverSun Technologies (OTCBB: SSNT) Eliminates Additional $1.3 Million of Debt

Shawshank, Va 3/20/12 (StreetBeat) -- SilverSun Technologies, Inc. (OTCBB: SSNT) 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 such a step will enhance the value of the holdings of all shareholders, myself included. I am confident in our ability to successfully implement our aggressive growth and acquisition plan. This debt reduction increases the likelihood that we will be able to utilize our stock in the future to make acquisitions. Furthermore, such a move will also make it more likely that we will be able to up-list the Company's stock to another stock exchange sometime in the future, potentially creating greater liquidity for our shareholders while also broadening our base of institutional and retail investors."

Meller continued, "We are well positioned to become a dominant player in our market. We have accomplished much in the last 90 days, and will accomplish more in the coming weeks and months. We hope to be releasing additional information regarding further developments in the very near future. "

About SilverSun Technologies, Inc.
SilverSun Technologies, Inc. (formerly Trey Resources, Inc.) is involved in the acquisition and build-out of technology and software companies. The Company's growth strategy is to acquire firms in this extensive and expanding, but highly fragmented segment, as it seeks to create substantial value for shareholders. Since June 2004, SilverSun has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc.

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