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. 5)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)

 

November 15, 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

 

0

8

SHARED VOTING POWER

 

415,000

9

SOLE DISPOSITIVE POWER

 

0

10

SHARED DISPOSITIVE POWER

 

415,000

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

415,000

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o

  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

8.08%

14

TYPE OF REPORTING PERSON

 

CO

 

- 2 -
 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

 

7,000

8

SHARED VOTING POWER

 

415,000

9

SOLE DISPOSITIVE POWER

 

7,000

10

SHARED DISPOSITIVE POWER

 

415,000

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

422,000

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

8.22%

14

TYPE OF REPORTING PERSON

 

IN

 

- 3 -
 CUSIP No. 82846H207

 

The following constitutes Amendment No. 5 to the Schedule 13D filed by the undersigned (“Amendment No. 5”) on April 5, 2021, as amended on April 20, 2021, April 30, 2021, June 3, 2021 and June 17, 2021 (the “Schedule 13D”). This Amendment No. 5 amends the Schedule 13D as specifically set forth herein. Except as otherwise specified in this Amendment No. 5, all items in the Schedule 13D are unchanged. All capitalized terms used in this Amendment No. 5 and not otherwise defined herein have the meanings ascribed to such terms in the Schedule 13D.

 

  Item 2. Identity and Background.

 

(a)       This statement is filed on behalf of Ault Global Holdings, Inc. (“AGH”), a Delaware corporation (the “Reporting Person”).

 

Set forth on Schedule A annexed hereto (“Schedule A”) is the name and present principal occupation or employment, principal business address and citizenship of the executive officers and directors of AGH. To the best of each Reporting Person’s knowledge, except as otherwise set forth herein, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.

 

(b)       AGH is a diversified holding company that owns operating subsidiaries and divisions engaged in a number of diversified business operations including the cryptocurrency mining, defense, aerospace, commercial, health/medical, finance and commercial lending sectors.

 

(d)       Neither the Reporting Person nor any person listed on Schedule A has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

(e)       Neither the Reporting Person nor any person listed on Schedule A has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(f)       AGH is incorporated under the laws of Delaware. The citizenship of the persons listed on Schedule A is set forth therein.

 

 

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 $3,264,138.22 for the purchase of the Shares.

 

The Shares transacted by AGH as reported on this Amendment No. 5 decreased AGH’s aggregate expenditures by $2,477,728.93. Consequently, as of the date of this Amendment No. 5, AGH has expended an aggregate of $786,409.29 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.

 

The Shares transacted by Ault as reported on this Amendment No. 5 decreased Ault’s aggregate expenditures by $18,012.90. Consequently, as of the date of this Amendment No. 5, Ault has expended an aggregate of $8,770.20 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 November 8, 2021, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 9, 2021.

 

- 4 -
 CUSIP No. 82846H207

 

AGH

 

(a) As of the close of business on November 16, 2021, AGH beneficially owned 415,000 Shares.

 

Percentage: Approximately 8.08%

 

(b) 1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 415,000
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 415,000

 

(c) AGH has not entered into any transactions in the Shares during the past sixty days except for the open market transactions conducted by its wholly owned subsidiary Digital Power Lending, LLC 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 October 25, 2021:

 

Nature of the Transaction Shares of Common Stock
Purchased / (Sold)
Price Per Share ($) Date of Transaction
Purchase of Common Stock 9,900 5.31 10/25/2021
Sale of Common Stock (372,000) 8.15 11/15/2021
Purchase of Common Stock 27,000 5.93 11/16/2021

 

Ault

 

(a) As of the close of business on November 16, 2021, Ault beneficially owned 422,000 Shares.

 

Percentage: Approximately 8.22%

 

(b) 1. Sole power to vote or direct vote: 7,000
2. Shared power to vote or direct vote: 415,000
3. Sole power to dispose or direct the disposition: 7,000
4. Shared power to dispose or direct the disposition: 415,000

 

(c) Ault has not entered into any transactions in the Shares during the past sixty days except for the open market sale of 1,000 Shares on November 15, 2021 at a price per Share of $9.02.

 

(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.

 

- 5 -
 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:     November 17, 2021

 

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

Milton C. Ault III

Executive Chairman

 

 

  DIGITAL POWER LENDING, LLC
     
  By:  /s/ David J. Katzoff
   

David J. Katzoff

Manager

 

 

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

Milton C. Ault III

An Individual

 

- 6 -
 CUSIP No. 82846H207

 

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. 100 Park Avenue, Suite 1658A,

New York, NY 10017

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
           

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
           

Glen Tellock

Independent Director

  Independent 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