NEW YORK, NY – May 24, 2011 – (Motor Sports Newswire) – Sparta Commercial Services, Inc. (OTCBB: SRCO) is pleased to announce that effective with the opening of trading this morning, its shares are now listed on the OTC Bulletin Board (OTCBB).
Over the past few months, many issuers including Sparta had their shares deemed ineligible for quoting on the OTCBB due to a lack of market makers.
Anthony Havens, CEO of Sparta, commented, “We wish to stress that the reason our stock was removed from the OTCBB in February was not related to our business, SEC reporting status or any similar matters as we were, and continue to be, a fully-reporting, SEC compliant public company. Once we became aware of the situation, we promptly began the process to have our shares relisted, which we believe is in the best of interest of all our shareholders.”
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. is a New York-based, nationwide financial services company offering financing and leasing products to consumers and retail powersports and auto dealers. Sparta also serves municipal and governmental agencies nationwide with its Municipal Lease Program, which offers financing for essential equipment especially for, but not limited to, the law enforcement and emergency response communities. Sparta Commercial Services, Inc. is also the parent company of Specialty Reports, Inc.
Our subsidiary, Specialty Reports, Inc., is in the business of offering value-added online tools to consumers and dealers in the automotive, powersports, RV, and motor home industries. This includes Cyclechex.com for motorcycle history reports, RVchecks.com for recreational vehicle and motor home history reports, and CarVinReport.com for automobile history reports. SpecialtyMobileApps.com is the fourth online offering of Specialty Reports, Inc. and provides retail dealers, consumers, vehicle manufacturers, and vehicle auction companies with a highly customizable smart phone application that enables Specialty Reports’ client companies an opportunity to communicate with their customers, and others, in the most technically advanced and creative methods currently available.
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
SOURCE: Sparta Commercial Services, Inc.