Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Revenues:    
Software product, net $ 1,902,417 $ 1,220,875
Service, net 8,619,663 6,265,828
Total revenues, net 10,522,080 7,486,703
Cost of revenues:    
Product 969,130 608,352
Service 5,055,330 4,005,788
Total cost of revenues 6,024,460 4,614,140
Gross profit 4,497,620 2,872,563
Operating expenses:    
Selling expenses 1,843,824 1,546,107
General and administrative expenses 2,296,718 2,180,693
Depreciation and amortization 97,011 82,880
Total operating expenses 4,237,553 3,809,680
Income (loss) from operations 260,067 (937,117)
Other income (expense):    
Gain on revaluation of derivatives 362,035 483,081
Gain from extinguishment of debt and Derivative liability 2,228,939  
Interest expense, net (142,110) (114,469)
Total other income (expense) 2,448,864 368,612
Income (loss) from operations before income taxes 2,708,931 (568,505)
Provision for income taxes 0 0
Net income (loss) 2,708,931 (568,505)
Net income (loss) attributable to non-controlling Interest in SWK Technologies Inc. 92,383 (99,584)
Net income (loss) attributable to SilverSun Technologies, Inc. $ 2,616,548 $ (468,921)
Basic and diluted net income (loss) per share attributable to SilverSun Technologies, Inc. shareholders:    
Basic income (loss) per common share (in Dollars per share) $ 0.58 $ (0.13)
Diluted income (loss) per common share (in Dollars per share) $ 0.02 $ (0.13)
Weighted average shares outstanding:    
Basic (in Shares) 4,481,000 3,619,000
Diluted (in Shares) 105,803,000 3,619,000