Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 476,191 $ 104,344
Accounts receivable, net of allowance of $41,000 and $41,000 730,717 489,280
Inventories 15,285 15,285
Prepaid expenses and other current assets 260,586 189,718
Total current assets 1,482,779 798,627
Property, plant and equipment, net of accumulated depreciation of $548,516 and $498,212 135,879 156,621
Deposits and other assets 63,020 65,866
Total assets 1,681,678 1,021,114
Current liabilities:    
Accounts payable and accrued expenses 1,018,158 1,081,201
Accrued interest 15,853 660,501
Due to related parties 2,470 1,293,341
Capital leases 44,349 55,565
Deferred revenue 809,990 486,019
Promissory notes 500,000  
Notes payable to related parties 45,000 45,000
Convertible promissory note – related party, net of discount of $29,750 and $-0- 21,250  
Convertible debentures 15,000 1,334,000
Derivative liabilities   1,177,845
Total current liabilities 2,472,070 6,133,472
Commitments and contingencies 0 0
Stockholders’ deficit:    
Additional paid-in capital 9,326,574 7,845,651
Accumulated deficit (10,182,451) (12,913,304)
Total SilverSun stockholders’ deficit (832,546) (5,067,181)
Non-controlling interest in SWK Technologies, Inc. 42,154 (45,177)
Total stockholders’ deficit (790,392) (5,112,358)
Total liabilities and stockholders’ deficit 1,681,678 1,021,114
Preferred Stock [Member]
   
Stockholders’ deficit:    
Preferred stock, value 0 0
Series A Preferred Stock [Member]
   
Stockholders’ deficit:    
Preferred stock, value 22,886  
Common Class A [Member]
   
Stockholders’ deficit:    
Common stock, value 445 472
Common Class B [Member]
   
Stockholders’ deficit:    
Common stock, value $ 0 $ 0