NEW YORK, NY – February 22, 2011 – (Motor Sports Newswire) – Sparta Commercial Services, Inc. (OTCBB: SRCO) today announced that its subsidiary, Cyclechex, the first and exclusive provider of online motorcycle history reports, has now achieved global penetration. In addition to visitors and sales from all fifty states, Cyclechex has also generated sales from consumers in Canada, Mexico, Australia, Africa, the Middle East, the Caribbean, England, and many European and Eastern European countries. In total, Cyclechex.com to date has attracted interest from people in 57 countries throughout the world.
Since launching the current version of its website only months ago, Cyclechex.com has successfully established several dozen Affiliates and “Super Affiliates” within or related to the powersports industry, all of which represent gateways to millions of prospective customers for Cyclechex. The Affiliates and Super Affiliates include major online companies appealing to motorcycle enthusiasts, retail powersports dealers, and others, providing direct links on their websites to Cyclechex.com for the purchase of motorcycle history reports.
The momentum Cyclechex is experiencing is also being fueled by a growing wave of industry recognition and acceptance, such as the prestigious “Nifty Fifty” award recently received from Powersports Business Magazine — the premier publication in the powersports industry; the alliance announced with NADAguides — the dominant online provider of pre-owned vehicle values; the partnership with Iron Planet — a major online auction company; and the partnership with Sprocketlist — a prominent online classifieds website.
Discussing the surge in momentum for Cyclechex, Anthony Havens, CEO of Sparta and Specialty Reports, Inc. (d/b/a Cyclechex), said, “Our month-over-month data for January over December shows a dramatic increase in virtually all categories, including unique visitors, return visitors, consumer and dealer account registrations, and, of course, sales of motorcycle history reports. The attention Cyclechex is receiving throughout the United States and internationally is especially rewarding, and the number and types of inquiries we’re receiving from other companies wanting to partner with Cyclechex further underscores the value of the service we’re providing. We’re anticipating solid continuing growth, both short-term and long-term, and feeling quite excited and confident about the future for Cyclechex.”
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc., www.spartacommercial.com, is a New York-based, nationwide financial services company offering financing and leasing products to consumers and retail powersports and automobile dealers. Sparta also serves municipal and governmental agencies nationwide with its Municipal Lease Program, which offers financing for essential equipment for the law enforcement and emergency response communities.
Our subsidiary, Specialty Reports, Inc. d/b/a Cyclechex, is in the business of offering online access to title histories and salvage information for various classes of previously owned assets. Cyclechex’s initial product release is the Cyclechex Motorcycle History Report. www.Cyclechex.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today and we disclaim any obligation to update this information. Actual results may differ significantly from management’s expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, obtaining, satisfying terms of, and amount of credit lines, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company’s filings with the SEC, which are available on its website at: http://www.sec.gov