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. 3)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 1, 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

 

560,000

8

SHARED VOTING POWER

 

568,800

9

SOLE DISPOSITIVE POWER

 

560,000

10

SHARED DISPOSITIVE POWER

 

568,800

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

568,800

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o

  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

11.24%

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

 

568,800

9

SOLE DISPOSITIVE POWER

 

8,800

10

SHARED DISPOSITIVE POWER

 

568,800

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

568,800

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

11.24%

14

TYPE OF REPORTING PERSON

 

IN

 

- 3 -
 CUSIP No. 82846H207

 

The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned (“Amendment No. 3”) on April 5, 2021, as amended on April 20, 2021 and April 30, 2021 (the “Schedule 13D”). This Amendment No. 3 amends the Schedule 13D as specifically set forth herein. Except as otherwise specified in this Amendment No. 3, 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 $1,906,622.15 for the purchase of the Shares.

 

The Shares acquired by AGH as reported on this Amendment No. 3 increased AGH’s aggregate expenditures by $394,966.16. Consequently, as of the date of this Amendment No. 3, AGH has expended an aggregate of $2,301,588.31 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 2, 2021, AGH beneficially owned 560,000 Shares.

 

Percentage: Approximately 11.06%

 

(b) 1. Sole power to vote or direct vote: 560,000
2. Shared power to vote or direct vote: 568,800
3. Sole power to dispose or direct the disposition: 560,000
4. Shared power to dispose or direct the disposition: 568,800

 

(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 2, 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: 568,800
3. Sole power to dispose or direct the disposition: 8,800
4. Shared power to dispose or direct the disposition: 568,800

 

(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 May 3, 2021:

 

Date Transaction Quantity Weighted Average Price
5/3/2021 Purchase 3,000 $6.97
5/4/2021 Purchase 1,000 $7.08
5/11/2021 Purchase 6,000 $7.38
5/12/2021 Purchase 11,000 $6.81
5/13/2021 Purchase 1,000 $6.33
5/14/2021 Purchase 17,500 $6.64
5/19/2021 Purchase 3,500 $6.44
5/28/2021 Purchase 500 $6.89
6/1/2021 Purchase 10,500 $6.81
6/2/2021 Purchase 4,000 $6.96

 

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 3, 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.
11411 Southern Highlands
Parkway, Suite 240,

Las Vegas, NV 89141

USA
       

William B. Horne

Chief Executive Officer and
Vice Chairman

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