Business Context and Reporting Period
This Form 8-K is a current report filed by Silversun Technologies, Inc. (not QXO, Inc.) on October 16, 2020, regarding events occurring on October 12, 2020. The company is incorporated in Delaware and trades on the NASDAQ under the symbol SSNT.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial figure disclosed is a one-time separation payment of $47,400.00 (gross) to the departing Chief Financial Officer.
Material Changes
- Executive Departure: Ms. Christine Dye resigned as Chief Financial Officer, effective November 13, 2020.
- Compensatory Arrangement: A Separation Agreement was executed on October 13, 2020, subject to a seven-day revocation period.
- Agreement Terms: The agreement includes confidentiality, non-disparagement covenants, and a release of claims by Ms. Dye.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of general risks. The primary contingency noted is the seven-day revocation period for the Separation Agreement. The full text of the agreement will be filed as an exhibit to the Form 10-Q for the quarter ending September 30, 2020.
Investor Verification Checklist
- Verify the appointment of an interim or permanent replacement for the CFO role.
- Confirm the final execution of the Separation Agreement after the revocation period.
- Review the upcoming Form 10-Q for the full text of the Separation Agreement and any related financial impact.
- Note the discrepancy between the requested company name (QXO, Inc.) and the actual registrant (Silversun Technologies, Inc.).