UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. )1
SilverSun
Technologies, Inc.
(Name of Issuer)
Common Stock, $0.00001 par value
(Title of Class of Securities)
82846H207
(CUSIP Number)
Milton
C, Ault III
AULT
GLOBAL Holdings, Inc.
11411
Southern Highlands Parkway, Suite 240
Las
Vegas, NV 89141
(949)
444-5464
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 21, 2021
(Date of Event Which Requires Filing of
This Statement)
If the filing person
has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing
this Schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o.
Note: Schedules
filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §
240.13d-7 for other parties to whom copies are to be sent.
_______________
1 The
remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in
a prior cover page.
The information required
on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities
Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject
to all other provisions of the Act (however, see the Notes).
1
|
NAME OF REPORTING PERSONS
Ault Global Holdings, Inc.
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o
(b) o
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS
WC
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)o
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
|
7
|
SOLE VOTING POWER
436,255
|
8
|
SHARED VOTING POWER
446,255
|
9
|
SOLE DISPOSITIVE POWER
436,255
|
10
|
SHARED DISPOSITIVE POWER
446,255
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
446,255
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARESo
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.91%
|
14
|
TYPE OF REPORTING PERSON
CO
|
1
|
NAME OF REPORTING PERSONS
Milton C. Ault, III
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*(a) o
(b) o
|
3
|
SEC USE ONLY
|
4
|
SOURCE OF FUNDS
PF
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)o
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
|
7
|
SOLE VOTING POWER
10,000
|
8
|
SHARED VOTING POWER
446,255
|
9
|
SOLE DISPOSITIVE POWER
10,000
|
10
|
SHARED DISPOSITIVE POWER
446,255
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
446,255
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARESo
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.91%
|
14
|
TYPE OF REPORTING PERSON
IN
|
The following constitutes
the Schedule 13D filed by the undersigned (the “Schedule 13D”).
|
Item 1.
|
Security and Issuer.
|
This statement relates
to the Common Stock, $0.00001 par value (the “Shares”), of SilverSun Technologies, Inc., a Delaware corporation
(the “Issuer”). The address of the principal executive office of the Issuer is 120 Eagle Rock Ave, East Hanover,
NJ 07936.
|
Item 2.
|
Identity and Background.
|
(a) This
statement is filed on behalf of Ault Global Holdings, Inc. (“AGH”) and Milton C. Ault, III (“Ault”)
(each, a “Reporting Person” and collectively, the “Reporting Persons”).
Set forth on Schedule
A annexed hereto (“Schedule A”) is the name and present principal occupation or employment, principal business
address and citizenship of the executive officers and directors of AGH. To the best of each Reporting Person’s knowledge,
except as otherwise set forth herein, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or
is a party to any contract, agreement or understanding required to be disclosed herein.
(a) Each
Reporting Person’s principal business address is 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.
(b) AGH
is a diversified holding company that owns operating subsidiaries and divisions engaged in a number of diversified business operations
including the defense, aerospace, commercial, health/medical, finance and commercial lending sectors. AGH’s largest subsidiary
is Gresham Worldwide, which provides advanced bespoke military and commercial applications. Ault is an individual.
(c) Neither
Reporting Person nor any person listed on Schedule A has, during the last five years, been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) Neither
Reporting Person nor any person listed on Schedule A has, during the last five years, been party to a civil proceeding of a judicial
or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws.
(f) AGH
is incorporated under the laws of Delaware. Ault is a citizen of the United States. The citizenship of the persons listed on Schedule
A is set forth therein.
|
Item 3.
|
Source and Amount of Funds or Other Consideration.
|
The Shares purchased
by AGH were purchased with working capital in open market purchases. AGH expended an aggregate of $1,907,907
for the purchase of the Shares.
The Shares purchased
by Ault were purchased with personal funds in open market purchases. Ault expended an aggregate of $35,761.40 for the purchase
of the Shares.
|
Item 4.
|
Purpose of Transaction.
|
Each Reporting Person
purchased the Shares based on such Reporting Person’s belief that the Shares, when purchased, were undervalued and represented
an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to each
Reporting Person, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, such Reporting
Person may endeavor to increase or, eventually, decrease its position in the Issuer through, among other things, the purchase or
sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as such Reporting Person
may deem advisable.
Neither Reporting Person
has a present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item
4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any
of the actions discussed herein. Each Reporting Person intends to review its investment in the Issuer on a continuing basis. Depending
on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels
of the Shares, conditions in the securities markets and general economic and industry conditions, each Reporting Person may in
the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation,
engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with stockholders
of the Issuer or other third parties about the Issuer and each Reporting Person’s investment, including potential business
combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer
concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business
combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer’s
financial and/or operational performance, purchasing additional Shares, selling some or all of its Shares, engaging in short selling
of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative instruments, or changing
its intention with respect to any and all matters referred to in Item 4. Ault, on behalf of AGH, previously contacted members of
management of the Issuer to discuss on a preliminary and informal basis the possibility of entering into a potential transaction
between AGH and the Issuer.
|
Item 5.
|
Interest in Securities of the Issuer.
|
The aggregate percentage
of Shares reported owned by the Reporting Persons herein is based upon 4,501,271 Shares outstanding, which is the total number
of Shares outstanding as of November 9, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission on November 10, 2020.
AGH
|
(a)
|
As of the close of business on January 28, 2021, AGH beneficially owned 436,255 Shares.
|
Percentage: Approximately
9.69%
|
(b)
|
1. Sole power to vote or direct vote: 436,255
2. Shared power to vote or direct vote: 446,255
3. Sole power to dispose or direct the disposition: 436,255
4. Shared power to dispose or direct the disposition: 446,255
|
|
(c)
|
AGH has not entered into any transactions in the Shares during the past sixty days except for the
open market purchases conducted by its wholly owned subsidiary Digital Power Lending, LLC set forth below.
|
Ault
|
(a)
|
As of the close of business on January 28, 2021, Ault beneficially owned 10,000 Shares.
|
Percentage: Approximately
0.22%
|
(b)
|
1. Sole power to vote or direct vote: 10,000
2. Shared power to vote or direct vote: 446,255
3. Sole power to dispose or direct the disposition: 10,000
4. Shared power to dispose or direct the disposition: 446,255
|
|
(c)
|
Ault has not entered into any transactions in the Shares during the past sixty days except for
the open market purchases conducted by him set forth below.
|
Digital Power Lending,
LLC
Digital Power Lending,
a wholly owned subsidiary of AGH, engaged in the following transactions in the Shares since January 19, 2021:
Date
|
Transaction
|
Quantity
|
Weighted Average Price
|
1-19-21
|
Purchase
|
51,259
|
$3.57
|
1-20-21
|
Purchase
|
120,606
|
$3.98
|
1-21-21
|
Purchase
|
110,213
|
$4.2
|
1-22-21
|
Purchase
|
53,705
|
$4.5
|
1-25-21
|
Purchase
|
47,154
|
$4.96
|
1-26-21
|
Purchase
|
10,000
|
$5.69
|
1-27-21
|
Purchase
|
38,318
|
$5.34
|
1-28-01
|
Purchase
|
5,000
|
$5.41
|
Ault
Ault, the Executive Chairman
of AGH, engaged in the following transactions in the Shares since January 19, 2021:
Date
|
Transaction
|
Quantity
|
Weighted Average Price
|
1-19-21
|
Purchase
|
6,500
|
$3.49
|
1-20-21
|
Purchase
|
3,500
|
$3.73
|
|
(d)
|
No person other than the Reporting Persons are known to have the right to receive, or the power
to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
|
|
Item 6.
|
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
|
Other than as described
herein, there are no contracts, arrangements, understandings or relationships between or among the Reporting Person and any other
person, with respect to the securities of the Issuer.
|
Item 7.
|
Material to be Filed as Exhibits.
|
SIGNATURES
After reasonable
inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 1, 2021
|
AULT GLOBAL HOLDINGS, INC.
|
|
|
|
|
By:
|
/s/ Milton C. Ault III
|
|
|
Milton C. Ault III
Executive Chairman
|
|
MILTON C. AULT, III
|
|
|
|
|
By:
|
/s/ Milton C. Ault III
|
|
|
Milton C. Ault III
An Individual
|
SCHEDULE A
Directors and Officers of Ault Global
Holdings, Inc.
Name and Position
|
Principal Occupation
|
|
Principal Business Address
|
Citizenship
|
Milton C. Ault, III
Executive Chairman
|
Executive Chairman of Ault Global Holdings, Inc.
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
William B. Horne
Chief Executive Officer and
Director
|
Chief Executive Officer of Ault Global Holdings, Inc.
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
Henry Nisser
President, General Counsel and Director
|
President and General Counsel of Ault Global Holdings, Inc.
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
Sweden
|
Howard Ash
Independent Director
|
Chairman of Claridge Management
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
Jodi Brichan
Independent Director
|
Independent Consultant
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
Jeffrey A. Bentz
Independent Director
|
President of North Star Terminal & Stevedore Company
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
Robert O. Smith
Independent Director
|
Independent Executive Consultant
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
Moti Rosenberg
Independent Director
|
Independent Consultant
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
Israel
|
Kenneth Cragun
Chief Financial Officer
|
Chief Financial Officer of Ault Global Holdings, Inc.
|
|
c/o Ault Global Holdings, Inc. 11411 Southern Highlands Parkway,
Suite 240,
Las Vegas, NV 89141
|
USA
|
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