OTC: SRCO
SPARTA COMMERCIAL SERVICES, INC.CIK 0000318299 · SIC 7389 · Miscellaneous Business Services NEC
Sparta Commercial Services, Inc. (“Sparta,” “we,” “us,” or the “Company”) is a Nevada corporation with headquarters in New York, New York, and a corporate website at www.spartacommercial.com, with subsidiary addresses in Stamford, CT. We operate as a multi-disciplined parent corporation across four… About this business →
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Latest financial statements
From 10-Q filed Sep 21, 2026 (period ending Jul 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statement of Operations (Unaudited)
| Description | Three months ended July 31, 2026 | Three months ended July 31, 2025 |
|---|---|---|
| Revenue | ||
| Information technology | 45,154 | 32,768 |
| Wellness products | 2,186 | 11,330 |
| Merchant financing | 358 | 52,590 |
| Total Revenue | 47,698 | 96,688 |
| Less Cost of goods sold | 6,901 | 8,472 |
| Gross profit | 40,797 | 88,216 |
| Operating expenses: | ||
| Compensation and related costs | 256,707 | 193,649 |
| Accounting and legal Fees | 1,140 | 29,525 |
| Consulting fees | 48,709 | 66,865 |
| Rent and lease | 18,000 | 18,000 |
| Provision for credit losses | 105,900 | - |
| General office expenses | 66,414 | 59,510 |
| Total operating expenses | 496,870 | 367,549 |
| Loss from operations | (456,073) | (279,333) |
| Other expense/(income): | ||
| Commission on Municipal Bonds | (1,476) | (9,624) |
| Interest Expense on notes | 187,104 | 167,796 |
| Loss (gain) in changes in fair value of derivative liability | (143,226) | 36,686 |
| Loss on extinguishment of debt | 36,802 | - |
| Other expense | - | 200 |
| Total other (income) expense | 79,204 | 195,058 |
| Net loss | (535,277) | (474,391) |
| Net profit (loss) attributable to minority shareholder | (35,759) | 7,938 |
| Net loss attributed to common stockholders | (499,518) | (482,329) |
| Basic and diluted loss per share: | ||
| Loss from continuing operations attributable to Sparta Commercial Services, Inc. common stockholders | (0.01) | (0.01) |
| Net loss attributable to Sparta Commercial Services, Inc. common stockholders | (0.01) | (0.01) |
| Weighted average shares outstanding | 54,139,587 | 40,733,568 |
Condensed Consolidated Balance Sheets
| Description | July 31, 2026 | April 30, 2026 |
|---|---|---|
| (‘Unaudited) | * | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | 54,738 | 118,131 |
| Accounts receivable | 6,544 | 6,652 |
| Inventory | 1,914 | 1,004 |
| Prepaid expenses | 21,376 | 16,500 |
| Merchant advances (less provision of $857,052 and $751,152, respectively) | - | 10,447 |
| Total Current Assets | 84,572 | 152,734 |
| Rent deposit | 9,000 | 9,000 |
| Total assets | 93,572 | 161,734 |
| LIABILITIES AND DEFICIT | ||
| Liabilities: | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | 1,665,087 | 1,592,603 |
| Short Term Loan | 1,585 | 1,585 |
| Current portion notes payable | 9,504,042 | 9,213,098 |
| Derivative liabilities | 756,109 | 899,335 |
| Total Current Liabilities | 11,926,823 | 11,706,621 |
| Long Term Liabilities | ||
| Loans payable-related parties | 653,690 | 650,176 |
| Notes payable- net of current portion | 104,939 | 103,048 |
| Total Long Term Liabilities | 758,629 | 753,224 |
| Total liabilities | 12,685,452 | 12,459,845 |
| Stockholders’ Deficit: | ||
| Preferred stock A, $0.001 par value; 10,000,000 shares authorized of which 35,850 shares have been designated as Series A convertible preferred stock, with a stated value of $100 per share, 125 and 125 shares issued and outstanding as of July 31, 2026 and April 30, 2026, respectively | 1 | 1 |
| Preferred stock C, 4,200,000 shares have been designated as Series C redeemable, convertible preferred, $0.001 par value, with a liquidation and redemption value of $1 per share, 1,928,157 and 1,953,157 shares issued and outstanding as of July 31, 2026 and April 30, 2026, respectively | 1,928 | 1,953 |
| Preferred stock D, 2,000,000 shares have been designated as Series D redeemable, convertible preferred, $0.001 par value, with a liquidation and redemption value of $1.00 per share, 768,288 and 768,288 shares issued and outstanding as of July 31, 2026 and April 30, 2026, respectively | 769 | 769 |
| Common stock, $0.001 par value; 750,000,000 shares authorized, and 54,636,926 and 53,602,565 shares issued and outstanding as of July 31, 2026 and April 30, 2026, respectively | 54,638 | 53,603 |
| Common stock to be issued, 35,434,706 and 34,028,221 as of July 31, 2026 and April 30, 2026, respectively | 35,435 | 34,028 |
| Additional paid-in-capital | 58,857,778 | 58,618,687 |
| Subscriptions Receivable | (250,000) | (250,000) |
| Accumulated deficit | (72,289,995) | (71,790,476) |
| Total deficiency in stockholders’ equity | (13,589,446) | (13,331,435) |
| Non-controlling interest | 997,566 | 1,033,324 |
| Total Deficit | (12,591,880) | (12,298,111) |
| Total Liabilities and Deficit | 93,572 | 161,734 |
Condensed Consolidated Statement of Cash Flows (Unaudited)
| Description | Three months ended July 31, 2026 | Three months ended July 31, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net Income ( loss ) | (535,277) | (474,391) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Loss (Gain) from change in fair value of derivative liabilities | (143,226) | 36,686 |
| Non-cash financing cost | - | 1,867 |
| Shares issued for services | 46,000 | 54,435 |
| Expense recognition of stock options | 66,434 | - |
| Stocks issued as note holder incentive | 26,429 | - |
| Provision for credit losses | 105,900 | - |
| Changes in operating assets and liabilities | ||
| Accounts receivable | 108 | 174 |
| Inventory | (910) | - |
| Prepaid expenses | (4,876) | |
| Other assets | (95,453) | (179,512) |
| Accounts payable and accrued expenses | 301,478 | 214,070 |
| Net cash used in operating activities | (233,393) | (346,671) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | - | - |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from sale of stock | 60,000 | 95,000 |
| Net Proceeds from notes payable | 110,000 | 166,000 |
| Net cash provided by financing activities | 170,000 | 261,000 |
| Net (decrease) increase in cash | (63,393) | (85,671) |
| Cash and cash equivalents, beginning of period | 118,131 | 131,003 |
| Cash and cash equivalents, end of period | 54,738 | 45,332 |
| Cash paid for: | ||
| Interest | 300 | 300 |
| Income taxes | - | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About SPARTA COMMERCIAL SERVICES, INC.
Source: Item 1 (Business) from the 10-K filed August 13, 2026. Description as filed by the company with the SEC.
ITEM
1. BUSINESS
General
Overview
Sparta
Commercial Services, Inc. (“Sparta,” “we,” “us,” or the “Company”) is a Nevada corporation
with headquarters in New York, New York, and a corporate website at www.spartacommercial.com, with subsidiary addresses in Stamford,
CT. We operate as a multi-disciplined parent corporation across four primary business sectors: FinTech Services, Financial Services,
E-Commerce & Mobile Technology, and Health and Wellness. Our operations are conducted through wholly owned subsidiaries and joint
ventures that provide specialized financing products, technology-driven solutions, and consumer wellness offerings.
Sparta’s
origins are in the Powersports consumer finance industry, historically providing retail installment loans and leases through authorized
motorcycle dealerships in 33 states, supported by financing lines of credit from institutional lenders. We built and maintained a full
underwriting and servicing platform for our portfolio until discontinuing our consumer loans and leases business after the 2008 financial
crisis.
I.
FINTECH SERVICES
Agoge
Global USA, Inc. – Cross-Border Trade Finance and Blockchain Solutions
Formed
in December 2022 as a subsidiary of Sparta Crypto, Inc., Agoge Global USA, Inc. (“Agoge”) was established to address inefficiencies
in cross-border trade between the United States and Brazil. Agoge entered into a joint venture with WeDev Group Ltda., a Brazilian technology
and blockchain development firm, to create and operate a comprehensive digital platform for international trade finance.
Read full description ↓
The
joint venture developed EZBroker360, a blockchain-enabled platform utilizing stablecoins and distributed ledger technology to:
-
Reduce transaction times from days to hours;
-
Lower cross-border payment costs; and
-
Improve security, transparency, and auditability.
In
addition to payment processing, EZBroker360 provides:
-
Staged financing for freightage, customs duties, and taxes;
-
Assistance with Brazilian tax and regulatory compliance;
-
Import/export documentation preparation;
-
Industry introductions and market entry facilitation; and
-
Reselling and distribution support in other jurisdictions.
Agoge
focuses on financing gaps in trade transactions that are not traditionally served by conventional banks. Since inception, the Company’s
loan deployment has reached $2 million, supported by repeat client engagement and organic referrals. Clients, such as Patta Brazil, have
reported enhanced cash flow flexibility, increased import volumes, avoidance of demurrage fees, and operational scaling. Patta Brazil’s
CEO has credited Agoge’s financing solutions for supporting a projected 50% revenue increase and enabling additional hiring.
Page 3 of 62
Building
on its technology foundation, the joint venture has developed iGoCards, a virtual card and expense management platform for globally oriented
businesses. iGoCards will enable fund loading via USD or stablecoins, incorporate multi-user controls, and offer advanced expense management
features. A planned “Receive” capability will allow clients to manage both payables and receivables, positioning Agoge as
a comprehensive financial ecosystem provider for international commerce.
II.
FINANCIAL SERVICES
b.
Municipal and Non-Profit Leasing of Essential Equipment
In
2007, we launched our Municipal Financing program (www.spartamunicipal.com), which continues to operate and has provided financing to
over 100 jurisdictions nationwide. This program offers equipment financing solutions for local and state government agencies, as well
as nonprofit organizations that comply with Internal Revenue Code §501(c)(3). Eligible nonprofits include both public charities
and private foundations.
Through
this program, we finance essential equipment such as police motorcycles, cruisers, buses, fire trucks, EMS vehicles, and related public
safety equipment. We are a preferred financing source for BMW Motorrad USA Police Motors. Financing is offered on a pass-through basis
with a Midwest bank. Marketing channels have included direct outreach, trade shows, targeted industry publications, and referrals from
manufacturers, dealerships, and existing municipal clients.
III.
E-COMMERCE & MOBILE TECHNOLOGY
A.
iMobile Solutions, Inc.
Our
E-Commerce & Mobile Technology segment operates through iMobile Solutions, Inc. (“iMS”), formerly Specialty Reports,
Inc. iMS provides the following:
Mobile
Application Development – Through our “iMobileApp” brand (www.imobileapp.com), we create, host, and maintain custom
mobile applications for small- and medium-sized businesses across a wide range of industries, including vehicle dealerships, racetracks,
golf and country clubs, schools, restaurants, grocery stores, and entertainment venues. Applications incorporate advanced features,
including geo-fencing, push notifications, inventory display, event management, CRM integration, and multi-location management. Our subscription
model includes development, hosting, updates, and optional fully managed marketing services.
Website
Design, Hosting, and SEO Services – We design, launch, maintain, and host websites for clients, incorporating search engine optimization
(SEO), e-commerce integration, social media connectivity, and online review management. Each engagement includes a tailored marketing
action plan.
Custom
Software Development – This includes kitchen ordering systems for grocery stores and delicatessens, with payment integration, wireless
printing, and text notification features.
Text
Messaging Platforms – Our text messaging platform enables clients to create, schedule, and analyze marketing campaigns, improving
customer engagement and brand loyalty.
Page 4 of 62
B.
Vehicle History Reports
iMS
also operates our Specialty Vehicle History Reports business, serving markets not fully addressed by major providers such as CARFAX®
or AutoCheck®. Our reports are marketed under:
-
Cyclechex – Motorcycle history reports (www.cyclechex.com);
-
RVchex – Recreational vehicle history reports (www.rvchex.com); and
-
Truckchex – Heavy-duty truck history reports (www.truckchex.com).
These
reports contain data such as prior damage, title brands, odometer readings, manufacturer specifications, recall history, and other relevant
factors, sourced from governmental and industry databases, including the National Motor Vehicle Title Information System (NMVTIS). They
are sold online, through dealer networks, and in over 60 countries.
IV.
HEALTH AND WELLNESS
New
World Health Brands, Inc.
In
August 2020, NWHB began offering nutritional supplements in response to shifting consumer preferences during the COVID-19 pandemic.
Our product line includes high-quality vitamins and minerals—such as iodine, boron, copper/zinc/selenium, and magnesium complex,—sourced and manufactured exclusively in the United States under strict
quality standards. Products are sold via our e-commerce website (www.newworldhealthbrands.com) and through marketplaces including
Amazon, Walmart, TikTok, eBay, and Etsy. NWHB products serve diverse health needs, from athletic performance and general wellness to
anti-aging and skincare.
IV.
COMPETITIVE POSITIONING
We
believe our targeted focus in underserved markets provides distinct competitive advantages:
-
Fintech Services – Our staged-based trade finance solution offers specialized financing not widely available from traditional lenders.
-
Financial Services – Our municipal leasing program offers custom financing solutions to municipalities, schools, and non-profit
organizations nationwide for all of their essential equipment needs.
-
E-Commerce & Mobile Technology – Our mobile application and website products provide cost-effective, customizable solutions
for small- and medium-sized businesses, backed by industry-specific expertise.
-
Vehicle History Reports – Our products address specialty vehicle categories not fully served by the dominant automotive report
providers.
-
Health and Wellness – Our U.S.-sourced supplement line appeals to consumers seeking premium, transparently sourced products.
We
compete on the basis of service quality, niche market focus, and the ability to develop and deploy proprietary technology solutions
across multiple industries of the motorcycle and RV space and do not intend to compete directly with either CarFax® or
AutoCheck®.
Page 5 of 62
Employees
As
of April 30, 2026, we had four full-time employees and three part-time employees.