NEW YORK, NY – May 25, 2011 – (Motor Sports Newswire) – Specialty Reports, Inc., a subsidiary of Sparta Commercial Services, Inc. (OTCBB: SRCO), today announced that is has experienced a month over month average increase in revenues of thirty percent per month from December, 2010 through April, 2011, and is currently on track to see a fifty percent increase for May over April.
Specialty Reports, Inc. has developed and is marketing four products; Cyclechex.com, the internationally accepted online source for motorcycle history reports; RVChecks.com, a leading online source for Recreational Vehicle history reports; CarVinReport.com, an online source for auto history reports; and SpecialtyMobileApps.com, a purveyor of highly advanced Mobile Apps for any type of company wishing to have the most effective communications system available for “smart phone” devices. Initially, SpecialtyMobileApps is sharply focusing on retail powersports dealers, RV dealers, auto dealers, vehicle auction companies, and vehicle manufacturers. Capitalizing on the extensive knowledge and broad experience of its parent company, Sparta Commercial Services, Inc, which offers a variety of consumer and municipal financing products that touch each of the targeted vehicle segments, SpecialtyMobileApps, Cyclechex, RVchecks, and CarVinReport are all positioned to achieve high levels of success.
Commenting on the dramatic revenue growth of Specialty Reports, Inc. Anthony Havens, CEO of both Sparta and Specialty Reports, said, “When we formed Specialty Reports less than a year ago, our expectations were high, and with the successful launches of Cyclechex, RVchecks, CarVinReport, and most recently SpecialtyMobileApps, and the outstanding performance and acceptance of these products in the marketplace, our initial hopes are clearly being realized. We are now even more confident in our belief that based upon the recent trends as well as short and mid term projections, Specialty Reports will be successful, and that its product offerings will continue to generate increased revenues in the coming months and years.”
About Specialty Reports, Inc.
Specialty Reports, Inc., a subsidiary of Sparta Commercial Services, 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 auto 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.
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.
Sparta Commercial Services, Inc.
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.