SilverSun Technologies, the corporate parent of VAR SWK Technologies, announces they will uplist their stock from OTCBB to the NASDAQ exchange effective April 19, 2017.
The company announced on January 30, 2017 that they’d applied to uplist their stock from the Over The Counter Bulletin Board (OTCBB) to NASDAQ.
The OTC (Over-The-Counter) Bulletin Board or OTCBB is a United States quotation medium operated by the Financial Industry Regulatory Authority (FINRA) for its subscribing members. It is used for many over-the-counter (OTC) equity securities that are not listed on the NASDAQ or a national stock exchange.
As described in the press release:
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, Customer Relationship Management, and Business Intelligence. Additionally, we have our own development staff building software solutions for Electronic Data Interchange, 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, hosting, business continuity, cloud, e-mail and web services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Dallas, Arizona, Seattle, Greensboro, and Southern California.
The stock has been trading in a narrow range for most of 2017. Presumably, the uplisting to NASDAQ will help steady the price and make trading a little less volatile. There are several conditions that must be met by a company before they can join the NASDAQ including a steady share price, number of outstanding shares and once they are listed they must continue to meet certain requirements as outlined here.
The company’s last form 10-K filed on March 24 ,2017 and covering the December 31, 2016 fiscal year shows that as of March 23, 2017, Silversun Technologies had 4,489,903 shares of its common stock, par value $0.00001 per share, outstanding.
5% owner Jeff Roth, who served as the CEO of SWK Technologies from March 2012 to March 2016, and the remaining officers and directors listed below own a total of 70.77% of the common stock. (Source – 10-K) ,
SilverSun common stock has been approved for listing on the NASDAQ Capital Market. Trading on NASDAQ under the symbol “SSNT” will commence on April 19, 2017.