SilverSun Technologies Files 8-K

TL;DR

SilverSun Tech filed an 8-K on 5/30/24 covering votes, Reg FD, and financials. Old names: Trey Resources/Industries.

AI Summary

SilverSun Technologies, Inc. filed an 8-K on May 30, 2024, reporting on matters submitted to a vote of security holders, Regulation FD disclosures, and financial statements/exhibits. The filing indicates a name change from TREY RESOURCES INC in 2005 and TREY INDUSTRIES INC in 2003. The company is incorporated in Delaware and headquartered in East Hanover, NJ.

Why It Matters

This filing provides updates on corporate actions and financial reporting for SilverSun Technologies, Inc., which may impact investors' understanding of the company's status and governance.

Risk Assessment

Risk Level: low — This is a routine 8-K filing detailing corporate events and disclosures, not indicating immediate financial distress or significant new risks.

Key Players & Entities

• SilverSun Technologies, Inc. (company) — Registrant
• TREY RESOURCES INC (company) — Former Company Name
• TREY INDUSTRIES INC (company) — Former Company Name
• May 30, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.00001 — h registered Common shares (par value $0.00001 per share) SSNT The NASDAQ Capital Ma
• $1,000,000,000 — rs will make an aggregate investment of $1,000,000,000 in cash in the Company, including $900,
• $900,000,000 — 0,000 in cash in the Company, including $900,000,000 from JPE (the "Equity Investment"). As

Filing Documents

• ea0207079-8k_silversun.htm (8-K) — 56KB
• ea020707901ex99-1_silversun.htm (EX-99.1) — 42KB
• 0001213900-24-047779.txt ( ) — 279KB
• ssnt-20240530.xsd (EX-101.SCH) — 3KB
• ssnt-20240530_lab.xml (EX-101.LAB) — 33KB
• ssnt-20240530_pre.xml (EX-101.PRE) — 22KB
• ea0207079-8k_silversun_htm.xml (XML) — 3KB

07 Submission of Matters to a Vote of

Item 5.07 Submission of Matters to a Vote of Security Holders. On May 30, 2024, SilverSun Technologies, Inc. (the "Company" or "SilverSun") held a special meeting of stockholders (the "Special Meeting") to consider certain proposals related to the Amended and Restated Investment Agreement, dated as of April l4, 2024 (as it may be amended or supplemented, the "Investment Agreement"), by and among Jacobs Private Equity II, LLC, a Delaware limited liability company ("JPE"), and the other investors party thereto (the "Other Investors," and together with JPE, the "Investors"), pursuant to which the Investors will make an aggregate investment of $1,000,000,000 in cash in the Company, including $900,000,000 from JPE (the "Equity Investment"). As of April 29, 2024, the record date for the Special Meeting (the "Record Date"), there were 5,315,581 shares of common stock, par value $0.00001 per share, of the Company (the "common stock"), each of which was entitled to one vote for each proposal at the Special Meeting. At the Special Meeting, a total of 3,655,153 shares of common stock, representing approximately 68.76% of the outstanding shares issued and entitled to vote, were present virtually or by proxy, constituting a quorum to conduct business. The affirmative vote of a majority of the 5,315,581 shares of common stock outstanding and entitled to vote as of the Record Date was required to approve Proposals 2-9. The affirmative vote of stockholders representing a majority of the votes properly cast by stockholders present in person or represented by proxy at the Special Meeting was required to approve Proposals 1 and 10. The final voting results on the proposals presented for stockholder approval at the Special Meeting are described below. For more information on each of these proposals, see the Company's Definitive Proxy Statement on Schedule 14A filed by the Company with the U.S. Securities and Exchange Commission on April 30, 2024 (as amended and supplemented, the "

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Press Release On May 30, 2024, the Company jointly issued a press release with JPE announcing the results of the Special Meeting. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein. The press release is being furnished pursuant to Item 7.01, and the information contained therein shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Reverse Stock Split As previously announced, the 8-1 reverse stock split of the Company's common stock, which was approved by the Company's stockholders at the Special Meeting and which also has been unanimously approved by the board of directors of the Company, is expected to take effect at 9:00 a.m. Eastern Time on June 6, 2024 (the "Effective Time"). Accordingly, at the Effective Time, each eight shares of the Company's common stock then issued and outstanding or held by the Company as treasury stock will, automatically and without any action on the part of the respective holders, be combined and converted into one share of the Company's common stock. The Company's common stock is expected to begin trading on the Nasdaq Capital Market on a post-reverse stock split basis beginning on June 6, 2024, under a new CUSIP number: 82846H 405. The Company is implementing the reverse stock split in connection with the Investment Agreement. As a result of the reverse stock split, the number of outstanding shares of the Company's common stock will be reduced from 5,315,581 to 664,447. No fractional shares will be issued in connection with the reverse stock split. Instead, each stockholder that would hold fractional sha

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as "may," "will," "should," "expect," "opportunity," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "target," "goal," or "continue," or the negative of these terms or other comparable terms. Forward-looking to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others uncertainties as to the completion of the equity investment and the other transactions contemplated by the Investment Agreement, including the risk that one or more of the transactions may involve unexpected costs, liabilities or delays and other factors, including those set forth in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024, and subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements herein speak only

Forward-looking statements herein speak only as of the date each statement is made. None of the Company, JPE nor any other person undertakes any obligation to update any of these

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release, dated May 30, 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL). 4

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SILVERSUN TECHNOLOGIES, INC. Date: May 30, 2024 By: /s/ Mark Meller Mark Meller President, Chief Executive Officer 5

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