Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 99,952 $ 233,722
Accounts receivable, net of allowance of $41,000 and $41,000 1,164,352 881,217
Inventories   11,617
Prepaid expenses and other current assets 39,700 103,407
Total current assets 1,304,004 1,229,963
Property and equipment, net of accumulated depreciation of $612,000 and $593,000 166,917 137,948
Intangible assets 126,056 95,445
Deposits and other assets 48,011 57,921
Total assets 1,644,988 1,521,277
Current liabilities:    
Accounts payable and accrued expenses 1,176,966 1,260,045
Accrued interest 10,818 7,675
Due to related parties 5,111 6,335
Capital lease obligations 55,253 64,367
Deferred revenue 1,209,409 1,015,750
Notes payable to related parties 20,000 20,000
Convertible promissory note – related party, net of discount of $-0- and $4,250 7,054 46,750
Total current liabilities 2,484,611 2,420,922
Commitments and contingencies 0 0
Stockholders’ deficit:    
Additional paid-in capital 10,153,643 9,326,572
Accumulated deficit (11,004,947) (10,296,756)
Total SilverSun stockholders’ deficit (839,623) (946,851)
Non-controlling interest in SWK Technologies, Inc.   47,206
Total stockholders’ deficit (839,623) (899,645)
Total liabilities and stockholders’ deficit 1,644,988 1,521,277
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 1
Common Class A [Member]
   
Stockholders’ deficit:    
Common stock, value 11,680 446
Common Class B [Member]
   
Stockholders’ deficit:    
Common stock, value $ 0 $ 0