Filing Details

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

(Rule 13d-101)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

§ 240.13d-2(a)

 

(Amendment No. 1)¹

 

SilverSun Technologies, Inc.

(Name of Issuer)

 

Common Stock, $0.00001 par value

(Title of Class of Securities)

 

82846H207

(CUSIP Number)

 

Milton C, Ault III

AULT GLOBAL Holdings, Inc.

11411 Southern Highlands Parkway, Suite 240

Las Vegas, NV 89141

(949) 444-5464

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

April 16, 2021

(Date of Event Which Requires Filing of This Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this Schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

 

_______________

¹       The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

1	NAME OF REPORTING PERSONS   Ault Global Holdings, Inc.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o (b) o
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o
6	CITIZENSHIP OR PLACE OF ORGANIZATION   DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER   450,000
	8	SHARED VOTING POWER   458,800
	9	SOLE DISPOSITIVE POWER   450,000
	10	SHARED DISPOSITIVE POWER   458,800
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   458,800
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   9.07%
14	TYPE OF REPORTING PERSON   CO

 

 

1	NAME OF REPORTING PERSONS   Milton C. Ault, III
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o (b) o
3	SEC USE ONLY
4	SOURCE OF FUNDS PF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o
6	CITIZENSHIP OR PLACE OF ORGANIZATION   UNITED STATES
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER   8,800
	8	SHARED VOTING POWER   458,800
	9	SOLE DISPOSITIVE POWER   8,800
	10	SHARED DISPOSITIVE POWER   458,800
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   458,800
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)   9.07%
14	TYPE OF REPORTING PERSON   IN

 

 

The following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned (“Amendment No. 1”) on April 5, 2021 (the “Schedule 13D”). This Amendment No. 1 amends the Schedule 13D as specifically set forth herein.

 

Item 1.

Security and Issuer.

 

This statement relates to the Common Stock, $0.00001 par value (the “Shares”), of SilverSun Technologies, Inc., a Delaware corporation (the “Issuer”). The address of the principal executive office of the Issuer is 120 Eagle Rock Ave, East Hanover, NJ 07936.

 

Item 2.

Identity and Background.

 

(a)       This statement is filed on behalf of Ault Global Holdings, Inc. (“AGH”) and Milton C. Ault, III (“Ault”) (each, a “Reporting Person” and collectively, the “Reporting Persons”).

 

Item 3.

Source and Amount of Funds or Other Consideration.

 

The Shares purchased by AGH as reported on the Schedule 13D were purchased with working capital in open market purchases. AGH expended an aggregate of $618,835.04 for the purchase of the Shares.

 

The Shares acquired by AGH as reported on this Amendment No. 1 increased AGH’s aggregate expenditures by $971,456.26. Consequently, as of the date of this Amendment No. 1, AGH has expended an aggregate of $1,590,291.30 for the purchase of the Shares.

 

The Shares purchased by Ault as reported on the Schedule 13D were purchased with personal funds in open market purchases. Ault expended an aggregate of $26,783.10 for the purchase of the Shares.

 

 

Item 5.

Interest in Securities of the Issuer.

 

The aggregate percentage of Shares reported owned by the Reporting Persons herein is based upon 5,061,177 Shares outstanding, which is the total number of Shares outstanding as of March 24, 2021, as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 25, 2021.

 

AGH

 

(a)

As of the close of business on April 19, 2021, AGH beneficially owned 450,000 Shares.

 

Percentage: Approximately 9.07%

 

(b)

1. Sole power to vote or direct vote: 450,000 2. Shared power to vote or direct vote: 458,800 3. Sole power to dispose or direct the disposition: 450,000 4. Shared power to dispose or direct the disposition: 458,800

 

(c)

AGH has not entered into any transactions in the Shares during the past sixty days except for the open market purchases conducted by its wholly owned subsidiary Digital Power Lending, LLC set forth below.

 

Ault

(a)

As of the close of business on April 19, 2021, Ault beneficially owned 8,800 Shares.

 

Percentage: Approximately 0.18%

 

(b)

1. Sole power to vote or direct vote: 8,800 2. Shared power to vote or direct vote: 458,800 3. Sole power to dispose or direct the disposition: 8,800 4. Shared power to dispose or direct the disposition: 458,800

 

(c)

Ault has not entered into any transactions in the Shares during the past sixty days except for the open market purchases conducted by him set forth below.

 

 

 

 

Digital Power Lending, LLC

 

Digital Power Lending, a wholly owned subsidiary of AGH, engaged in the following transactions in the Shares since February 1, 2021:

 

Date	Transaction	Quantity	Weighted Average Price
4-5-21	Purchase	500	$8.30
4-7-21	Purchase	500	$7.34
4-8-21	Purchase	1,000	$7.18
4-9-21	Purchase	2,000	$7.19
4-12-21	Purchase	1,500	$7.29
4-14-21	Purchase	34,339	$6.96
4-15-21	Purchase	4,861	$6.97
4-16-21	Purchase	60,800	$6.74
4-19-21	Purchase	39,000	$6.37

 

Ault

 

Ault, the Executive Chairman of AGH, not engaged in any transactions in the Shares since March 26, 2021.

 

   

(d)

No person other than the Reporting Persons are known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

 

(e)

Not applicable.

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

Other than as described herein, there are no contracts, arrangements, understandings or relationships between or among the Reporting Person and any other person, with respect to the securities of the Issuer.

 

Item 7.

Material to be Filed as Exhibits.

 

None.

 

 

SIGNATURES

 

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated:     April 20, 2021

 

	AULT GLOBAL HOLDINGS, INC.
	By:	/s/ Milton C. Ault III
		Milton C. Ault III Executive Chairman

 

 

	DIGITAL POWER LENDING LLC
	By:	/s/ David Katzoff
		David Katzoff Manager

 

 

	MILTON C. AULT, III
	By:	/s/ Milton C. Ault III
		Milton C. Ault III An Individual

 

 

SCHEDULE A

 

Directors and Officers of Ault Global Holdings, Inc.

 

Name and Position	Principal Occupation	Principal Business Address	Citizenship
Milton C. Ault, III Executive Chairman	Executive Chairman of Ault Global Holdings, Inc.	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA
William B. Horne Chief Executive Officer and Vice Chairman	Chief Executive Officer of Ault Global Holdings, Inc.	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA
Henry Nisser President, General Counsel and Director	President and General Counsel of Ault Global Holdings, Inc.	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	Sweden
Howard Ash Independent Director	Chairman of Claridge Management	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA
Jodi Brichan Independent Director	Independent Consultant	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA
Jeffrey A. Bentz Independent Director	President of North Star Terminal & Stevedore Company	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA
Robert O. Smith Independent Director	Independent Executive Consultant	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA
Moti Rosenberg Independent Director	Independent Consultant	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	Israel
Kenneth Cragun Chief Financial Officer	Chief Financial Officer of Ault Global Holdings, Inc.	c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141	USA