Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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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. 4)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)
June 16, 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).
| CUSIP No. 82846H207 |
| 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
702,000 |
| 8 | SHARED VOTING POWER
710,800 | |
| 9 | SOLE DISPOSITIVE POWER
702,000 | |
| 10 | SHARED DISPOSITIVE POWER
710,800 | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
710,800 | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o < p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.04% | |
| 14 | TYPE OF REPORTING PERSON
CO | |
| - 2 - |
| CUSIP No. 82846H207 |
| 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
8,800 |
| 8 | SHARED VOTING POWER
710,800 | |
| 9 | SOLE DISPOSITIVE POWER
8,800 | |
| 10 | SHARED DISPOSITIVE POWER
710,800 | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
710,800 | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
| |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.04% | |
| 14 | TYPE OF REPORTING PERSON
IN | |
| - 3 - |
| CUSIP No. 82846H207 |
The following constitutes Amendment No. 4 to the Schedule 13D filed by the undersigned (“Amendment No. 4”) on April 5, 2021, as amended on April 20, 2021, April 30, 2021 and June 3, 2021 (the “Schedule 13D”). This Amendment No. 4 amends the Schedule 13D as specifically set forth herein. Except as otherwise specified in this Amendment No. 4, all items in the Schedule 13D are unchanged. All capitalized terms used in this Amendment No. 3 and not otherwise defined herein have the meanings ascribed to such terms in the Schedule 13D.
| Item 3. | Source and Amount of Funds or Other Consideration. |
The Shares purchased by AGH as reported on the Schedule 13D were purchased with working capital in open market purchases. AGH expended an aggregate of $2,301,588.31 for the purchase of the Shares.
The Shares acquired by AGH as reported on this Amendment No. 4 increased AGH’s aggregate expenditures by $962,549.91. Consequently, as of the date of this Amendment No. 4, AGH has expended an aggregate of $3,264,138.22 for the purchase of the Shares.
The Shares purchased by Ault as reported on the Schedule 13D were purchased with personal funds in open market purchases. Ault expended an aggregate of $26,783.10 for the purchase of the Shares.
| Item 5. | Interest in Securities of the Issuer. |
The aggregate percentage of Shares reported owned by the Reporting Persons herein is based upon 5,061,177 Shares outstanding, which is the total number of Shares outstanding as of May 10, 2021, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 11, 2021.
AGH
| (a) | As of the close of business on June 16, 2021, AGH beneficially owned 702,000 Shares. |
Percentage: Approximately 13.87%
| (b) | 1. Sole power to vote or direct vote: 702,000 2. Shared power to vote or direct vote: 710,800 3. Sole power to dispose or direct the disposition: 702,000 4. Shared power to dispose or direct the disposition: 710,800 |
| (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 June 16, 2021, Ault beneficially owned 8,800 Shares. |
Percentage: Approximately 0.18%
| (b) | 1. Sole power to vote or direct vote: 8,800 2. Shared power to vote or direct vote: 710,800 3. Sole power to dispose or direct the disposition: 8,800 4. Shared power to dispose or direct the disposition: 710,800 |
| (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. |
| - 4 - |
| CUSIP No. 82846H207 |
Digital Power Lending, LLC
Digital Power Lending, a wholly owned subsidiary of AGH, engaged in the following transactions in the Shares since June 16, 2021:
| Date | Transaction | Quantity | Weighted Average Price |
| 6/16/2021 | Purchase | 142,000 | $6.78 |
Ault
Ault, the Executive Chairman of AGH, has not engaged in any transactions in the Shares since March 26, 2021.
| (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. |
| (e) | Not applicable. |
| 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. |
None.
| - 5 - |
| CUSIP No. 82846H207 |
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: June 17, 2021
| AULT GLOBAL HOLDINGS, INC. | ||
| By: | /s/ Milton C. Ault III | |
Milton C. Ault III Executive Chairman | ||
| DIGITAL POWER LENDING LLC | ||
| By: | /s/ David Katzoff | |
David Katzoff Manager | ||
| MILTON C. AULT, III | ||
| By: | /s/ Milton C. Ault III | |
Milton C. Ault III An Individual | ||
| - 6 - |
| CUSIP No. 82846H207 |
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. Las Vegas, NV 89141 |
USA |
William B. Horne Chief Executive Officer and |
Chief Executive Officer of Ault Global Holdings, Inc. |
c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
USA |
Henry Nisser President, General Counsel |
President and General Counsel of Ault Global Holdings, Inc. |
c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
Sweden |
Howard Ash Independent Director |
Chairman of Claridge Management |
c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
USA |
Jodi Brichan Independent Director |
Independent Consultant | c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
USA |
Jeffrey A. Bentz Independent Director |
President of North Star Terminal & Stevedore Company |
c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
USA |
Robert O. Smith Independent Director |
Independent Executive Consultant |
c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
USA |
Glen Tellock Independent Director |
Independent Consultant | c/o Ault Global Holdings, Inc.
Las Vegas, NV 89141 |
USA |
Moti Rosenberg Independent Director |
Independent Consultant | c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
Israel |
Kenneth Cragun Chief Financial Officer |
Chief Financial Officer of Ault Global Holdings, Inc. |
c/o Ault Global Holdings, Inc. Las Vegas, NV 89141 |
USA |