Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Product, net $ 462,161 $ 321,953 $ 821,135 $ 1,196,952
Service, net 2,609,264 2,370,125 5,159,149 4,256,571
Total revenues, net 3,071,425 2,692,078 5,980,284 5,453,523
Cost of revenues:        
Product 203,982 212,846 373,320 644,033
Service 1,570,013 1,314,249 3,126,360 2,442,453
Cost of revenues 1,773,995 1,527,095 3,499,680 3,086,486
Gross profit 1,297,430 1,164,983 2,480,604 2,367,037
Selling, general and administrative expenses:        
Selling expenses 569,857 431,690 1,084,207 856,848
General and administrative expenses 606,621 623,021 1,222,567 1,138,842
Shared-based compensation 408,183   1,127,450  
Depreciation and amortization 32,550 26,124 51,752 52,312
Total selling, general and administrative expenses 1,617,211 1,080,835 3,485,976 2,048,002
Income (loss) from operations (319,781) 84,148 (1,005,372) 319,035
Other income (expense):        
Gain (loss) on revaluation of derivatives   99,247   362,035
Gain on extinguishment of debt and derivative liability   2,228,939   2,228,939
Amortization of debt discount   (12,750) (4,250) (21,250)
Interest expense, net (14,250) (47,053) (32,600) (70,575)
Total other income (expense) (14,250) 2,268,383 (36,850) 2,499,149
Net income (loss) (334,031) 2,352,531 (1,042,222) 2,818,184
Net income (loss) attributable to the noncontrolling interest in SWK Technologies   61,317   87,331
Net income (loss) attributable to SilverSun Technologies $ (334,031) $ 2,291,214 $ (1,042,222) $ 2,730,853
Net income (loss) per common share: Basic (in Dollars per share) $ 0.00 $ 0.52 $ (0.01) $ 0.61
Fully diluted (in Dollars per share) $ 0.00 $ 0.02 $ (0.01) $ 0.03
Weighted average shares:        
Basic (in Shares) 116,800,933 4,447,028 113,823,898 4,504,992
Diluted (in Shares) 116,800,933 105,724,210 113,823,898 105,782,173