Quarterly report pursuant to Section 13 or 15(d)

NOTE 9 - BUSINESS COMBINATION (Tables)

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NOTE 9 - BUSINESS COMBINATION (Tables)
9 Months Ended
Sep. 30, 2015
NOTE 9 - BUSINESS COMBINATION (Tables) [Line Items]  
Business Acquisition, Pro Forma Information [Table Text Block] The following unaudited pro forma information does not purport to present what the Company’s actual results would have been had the acquisitions occurred on January 1, 2014, nor is the financial information indicative of the results of future operations. The following table represents the unaudited consolidated pro forma results of operations for the nine months ended September 30, 2015 and 2014 as if the acquisitions had occurred on January 1, 2014. Operating expenses have been increased for the amortization expense associated with the estimated fair value adjustment as of September 30, 2015 of expected definite lived intangible assets.

Pro Forma
 
Nine Months Ended
September 30, 2015
   
Nine Months Ended 
September, 2014
 
Net sales
 
$
20,740,563
   
$
19,399,533
 
Operating expenses
 
$
7,903,884
   
7,079,009
 
Income  before taxes
 
708,219
   
$
1,080,435
 
Net income
 
$
620,296
   
$
633,089
 
Basic and diluted income per common share
 
$
0.15
   
$
0.16
 
ESC Inc. DBA ESC Software [Member]  
NOTE 9 - BUSINESS COMBINATION (Tables) [Line Items]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] The following summarizes the purchase price allocation:

Customer List
 
$
294,000
 
Goodwill
   
56,000
 
Fair value of net assets acquired
 
$
350,000
 
         
Note to shareholders for acquisition
 
350,000
 
Total purchase price
 
$
350,000
 
ProductiveTech, Inc. (PTI) [Member]  
NOTE 9 - BUSINESS COMBINATION (Tables) [Line Items]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] On July 6, 2015 SWK entered into an Asset Purchase Agreement with ProductiveTech (“PTI”), a south New Jersey corporation and John McPoyle and Kevin Snyder in their individual capacity as Shareholders. SWK acquired certain assets and liabilities of PTI (as defined in the Purchase Agreement). In consideration for the acquired assets, the Company paid $483,471 in cash and issued a promissory note for $600,000 (the “Note”). The note is due in 60 months from the closing date and bears interest at a rate of two and one half (2.5%) percent. The monthly payments including interest are $10,645. Additionally in connection with the purchase agreement, SilverSun Technologies, Inc. (“SSNT”) issued 64,484 shares of common stock at $4.032 per share for a value of $260,000. The purchase was initially allocated, based on the Company’s estimate of fair value, to accounts receivable, unbilled services, prepaid expenses and other assets, property and equipment, liabilities, capital lease obligations, and intangible assets, which are expected to consist primarily of customers list with an estimated life of five years. Upon completion of an independent valuation, the allocation of the purchase price to customer lists will be modified accordingly and acquisition costs disclosed.

Cash consideration
 
$
483,471
 
Stock
   
259,226
 
Note payable
   
600,000
 
Total purchase price
 
$
1,342,697
 
         
Accounts receivable
 
129,709
 
Unbilled services
   
10,369
 
Prepaid expenses and other current assets
   
14,039
 
Property and equipment
   
93,300
 
Intangible assets
   
1,244,301
 
Total assets acquired
   
1,491,718
 
         
Current liabilities
   
(124,300
)
Capital lease obligations
   
(24,721
)
Liabilities acquired
   
(149,021
)
Total purchase price
 
$
1,342,697