CUSIP No. 82846H207

 

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)

 

February 25, 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).

 

 

   
CUSIP No. 82846H207 

 

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

 

397,937

8

SHARED VOTING POWER

 

407,937

9

SOLE DISPOSITIVE POWER

 

397,937

10

SHARED DISPOSITIVE POWER

 

407,937

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

407,937

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARESo
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

8.51%

14

TYPE OF REPORTING PERSON

 

CO

 

  
CUSIP No. 82846H207 

 

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

 

10,000

8

SHARED VOTING POWER

 

407,937

9

SOLE DISPOSITIVE POWER

 

10,000

10

SHARED DISPOSITIVE POWER

 

407,937

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

407,937

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARESo
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

8.51%

14

TYPE OF REPORTING PERSON

 

IN

 

  
CUSIP No. 82846H207 

 

The following constitutes Amendment No. 1 to the Schedule 13D filed by the undersigned (“Amendment No. 1”) on February 1, 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 $1,907,907 for the purchase of the Shares.

 

The Shares disposed of by AGH as reported on this Amendment No. 1 reduced AGH’s aggregate expenditures by $355,464. Consequently, as of the date of this Amendment No. 1, AGH has expended an aggregate of $1,552,443 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 $35,761.40 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 4,501,271 Shares outstanding, which is the total number of Shares outstanding as of November 9, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 10, 2020.

 

AGH

 

(a) As of the close of business on February 26, 2021, AGH beneficially owned 397,937 Shares

 

Percentage: Approximately 8.84%

 

(b)1. Sole power to vote or direct vote: 397,937
2. Shared power to vote or direct vote: 407,937
3. Sole power to dispose or direct the disposition: 397,937
4. Shared power to dispose or direct the disposition: 407,937

 

(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 January 28, 2021, Ault beneficially owned 10,000 Shares.

 

Percentage: Approximately 0.22% 

 

  
CUSIP No. 82846H207 

   

(b)1. Sole power to vote or direct vote: 10,000
2. Shared power to vote or direct vote: 407,937
3. Sole power to dispose or direct the disposition: 10,000
4. Shared power to dispose or direct the disposition: 407,937

 

(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
2/19/2021 Sale 10,178 $5.47
2/22/2021 Sale 20,359 $7.46
2/24/2021 Sale 7,781 $7.25
2/25/2021 Sale 25,000 $10.02
2/26/2021 Purchase 25,000 $6.36

 

Ault

 

Ault, the Executive Chairman of AGH, has not engaged in any transactions in the Shares since February 1, 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.

 

  
CUSIP No. 82846H207 

 

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:     March 1, 2021

 

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

Milton C. Ault III

Executive Chairman

 

 

 

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

Milton C. Ault III

An Individual