Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Sep. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 587,424 $ 104,344
Accounts receivable, net of allowance of $41,000 and $41,000 1,050,249 489,280
Inventories 15,285 15,285
Prepaid expenses and other current assets 234,983 189,718
Total current assets 1,887,941 798,627
Property, plant and equipment, net of accumulated depreciation of $571,064 and $498,212 155,517 156,621
Deposits and other assets 70,916 65,866
Total assets 2,114,374 1,021,114
Current liabilities:    
Accounts payable and accrued expenses 1,029,037 1,081,201
Accrued interest 16,265 660,501
Due to related parties 3,705 1,293,341
Capital leases 73,233 55,565
Deferred revenue 1,236,667 486,019
Promissory notes 450,000  
Notes payable to related parties 40,000 45,000
Convertible promissory note – related party, net of discount of $17,000 34,000  
Convertible debentures 15,000 1,334,000
Derivative liabilities   1,177,845
Total current liabilities 2,897,907 6,133,472
Commitments and contingencies 0 0
Stockholders’ deficit:    
Additional paid-in capital 9,347,539 7,845,651
Accumulated deficit (10,207,103) (12,913,304)
Total SilverSun stockholders’ deficit (836,198) (5,067,181)
Non-controlling interest in SWK Technologies, Inc. 52,665 (45,177)
Total stockholders’ deficit (783,533) (5,112,358)
Total liabilities and stockholders’ deficit 2,114,374 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  
Series B Preferred Stock [Member]
   
Stockholders’ deficit:    
Preferred stock, value 1  
Common Class A [Member]
   
Stockholders’ deficit:    
Common stock, value 479 472
Common Class B [Member]
   
Stockholders’ deficit:    
Common stock, value $ 0 $ 0