Specialty Reports, Inc. Announces Strong Product Sales Increases

Year Over Year Performance Of Cyclechex, RVChecks and Specialty Mobile Apps Cited

NEW YORK, NY – May 15, 2012 – (Motor Sports Newswire) – Specialty Reports, Inc. (www.specialtyreportsinc.com), a subsidiary of Sparta Commercial Services, Inc. (OTCBB: SRCO), today announced that it achieved a substantial increase in sales of 435% on a year-to-year basis for years ending April 30, 2012, over  April 30, 2011.

These sales figures include the following products offered by Specialty Reports, Inc.:

  • Cyclechex (www.cyclechex.com), the specialty online Motorcycle History Report for consumers, powersports dealers, auction houses, insurance companies and bank/finance companies;
  • RVChecks (www.rvchecks.com), the specialty online Recreational Vehicle History Report for consumers, recreational vehicle and motor home dealers, auction houses, insurance companies and bank/finance companies; and
  • Specialty Mobile Apps (www.specialtymobileapps.com), the mobile app solution developed expressly for powersports, auto, RV, and marine dealers.

Global sales for Cyclechex have expanded to 30 countries, with visitors from more than 150 countries, thereby demonstrating the demand for this product around the world.

For both Cyclechex and RVChecks, interested parties simply go online and enter the vehicle’s 17 character Vehicle Identification Number, regardless of the country of origin, and the expansive databases of the respective products will be searched for any previously disclosed damage, last recorded odometer reading, salvage, stolen, or rebuilt titles, and more. This information is extremely valuable for consumers wishing to buy a pre-owned vehicle or retail dealers considering a purchase or trade-in on a given unit and these reports are available at a modest cost. For Specialty Mobile Apps, interested parties can visit the product website, learn all about the many valuable features, and schedule a product demonstration at their own convenience.

Commenting on the announcement, Anthony Havens, CEO of Sparta Commercial, Inc. and Specialty Reports, Inc. said, “We’re pleased with the sales performance of Cyclechex, RVChecks, and Specialty Mobile Apps.   With the motorcycle and RV season now upon us and with our increasing expansion into the automobile market, we’re confident that sales – both domestically and internationally – will continue to grow and prove the value and acceptance of these products in the marketplace. We’re particularly gratified to see the increase in sales we have experienced since our products began to appear on key partner websites, including two dominant online sources for values of pre-owned motorcycles and RVs.  As motorcycle and RV enthusiasts in ever growing numbers learn that these products are available, they will have the opportunity to make more confident and informed choices in the vehicle purchases they’re considering. We like being the company providing that confidence and protection to consumers. We’re also very enthusiastic about the growing acceptance of our Specialty Mobile App product and service.”

About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. is a New York-based technology company that has roots in the powersports industry where it had originally focused primarily on providing consumer and municipal financing to powersports, recreation, and auto industries.  Through its subsidiary, Specialty Reports, Inc. the Company offers a range of online tools and products that include a Mobile App product for Powersports, Recreational Vehicle, Watercraft, and Auto dealers, that allows them to build and manage their own custom dealer application that will be available on multiple platforms such as iPhone, iPod Touch, iPad, Android Mobile, Android Tablet and Kindle Fire, giving consumers access to the dealerships’ inventory, sales and service departments, hours, locations, special events and more (www.specialtymobileapps.com); Cyclechex, providing Motorcycle History Reports (www.cyclechex.com); RVChecks providing Recreational Vehicle History Reports (www.rvchecks.com); and CarVINreport, providing Automobile and Light Truck History Reports (www.carvinreport.com).   All of the vehicle history reports cited above are designed for consumers and retail dealers as well as for auction houses, insurance companies and banks/finance companies. Sparta continues to administer an ever-growing Municipal Leasing Program for local and/or state agencies throughout the country seeking a better and more economical way to finance their essential equipment needs, from police motorcycles and cruisers, to EMS equipment and busses, to virtually any type of equipment required. Sparta is an innovative and diversified Company dedicated to identifying the needs and interests of its targeted markets, and developing products and services specifically designed to meet those needs and interests now, and well into the future.

Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
(212) 239-2666

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.