SilverSun Technologies Announces Stock Buyback Program
October 10 2019 - 9:15AM
via NEWMEDIAWIRE -- SilverSun Technologies, Inc. (NASDAQ: SSNT), a
national provider of transformational business technology solutions
and services, today announced
that its Board of
Directors has authorized a new stock repurchase program, under
which the Company may repurchase up to $2 million of its
outstanding common stock.
Under this new stock repurchase program, SilverSun
may repurchase shares in accordance with all applicable securities
laws and regulations, including Rule 10b-18 of the Securities
Exchange Act of 1934, as amended. The extent to which SilverSun
repurchases its shares, and the timing of such repurchases, will
depend upon a variety of factors, including market conditions,
regulatory requirements and other corporate considerations, as
determined by SilverSun’s management.
The repurchase program may be extended, suspended
or discontinued at any time. The Company expects to finance the
program from existing cash resources.
“We believe that SilverSun’s stock does not
reflect SilverSun’s growth prospects,” said Mark Meller,
SilverSun’s Chairman and Chief Executive Officer. “This new stock
repurchase program provides the Company with an opportunity to
provide enhanced liquidity to shareholders and to increase
shareholder value.”
About SilverSun Technologies,
Inc.
We are a business application, technology and
consulting company providing strategies and solutions to meet our
clients’ information, technology and business management needs. Our
services and technologies enable customers to manage, protect and
monetize their enterprise assets whether on-premise or in the
“Cloud”. As a value-added reseller of business application
software, we offer solutions for accounting and business
management, financial reporting, Enterprise Resource Planning
(“ERP”), Warehouse Management Systems (“WMS”), Customer
Relationship Management (“CRM”), and Business Intelligence (“BI”).
Additionally, we have our own development staff building software
solutions for Electronic Data Interchange (“EDI”), time and
billing, and various ERP enhancements. Our value-added services
focus on consulting and professional services, specialized
programming, training, and technical support. We have a dedicated
network services practice that provides managed services,
cybersecurity, application hosting, disaster recovery, business
continuity, cloud and other services. Our customers are nationwide,
with concentrations in the New York/New Jersey metropolitan area,
Chicago, Arizona, Southern California, North Carolina, Washington
and Oregon.
Forward-Looking Statements
This news release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, among other things our plans, strategies and
prospects -- both business and financial. Although we believe that
our plans, intentions and expectations reflected in or suggested by
these forward-looking statements are reasonable, we cannot assure
you that we will achieve or realize these plans, intentions or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as "believe," "expect,"
"anticipate," "should," "planned," "will," "may," "intend,"
"estimated," and "potential," among others. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents that
we file from time to time with the United States Securities and
Exchange Commission. All forward-looking statements attributable to
SilverSun Technologies, Inc. or a person acting on its behalf are
expressly qualified in their entirety by this cautionary
language.
Contact:
Mark Meller
SilverSun Technologies, Inc.
973-758-6108
meller@silversuntech.com
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