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Sparta Commercial Services, Inc. reported that Chief Executive Officer, director, and 10% owner Anthony L. Havens received a grant of 2,500,000 non-qualified stock options on 01/16/2026. The options have an exercise price of $0.14 per share and are tied to the company’s common stock.
According to the vesting terms, 833,334 options vest immediately, another 833,334 options vest on 01/16/2027, and the remaining 833,332 options vest on 01/16/2028. After this grant, Havens beneficially owns 11,367,908 derivative securities related to Sparta Commercial’s equity, held in direct form.
Sparta Commercial Services, Inc. reported higher revenue but continued losses and a deep capital deficit for the quarter and six months ended October 31, 2025. Revenue for the six months rose to $195,995 from $89,359, a 119% increase, driven mainly by higher merchant financing fees and wellness product sales. Gross profit reached $178,726, but operating expenses of $732,234 kept the business unprofitable.
The six‑month net loss attributable to common stockholders narrowed to $1,008,995 from $1,380,705, and basic and diluted loss per share improved to $0.02 from $0.04. Cash declined to $33,607, with operating activities using $541,596 of cash, partly offset by $444,200 from stock sales and new notes. As of October 31, 2025, total assets were $860,561 against total liabilities of $11,922,727, resulting in a stockholders’ deficit of $12,092,686 and a working capital deficit of $10,278,233. The company carries $8,808,323 in notes payable and $1,114,161 of derivative liabilities, and auditors and management highlight substantial doubt about its ability to continue as a going concern.
Sparta Commercial Services, Inc. (SRCO) reported a quarterly 10-Q showing strained liquidity and significant financing activity. The filing discloses a working capital deficit of $9,960,973 and cash and revenue levels that are insufficient to cover operating expenses for the next twelve months, which raises substantial doubt about the company’s ability to continue as a going concern. The balance sheet excerpts show total assets and liabilities line items including common shares outstanding of 41,502,464 as of July 31, 2025, and prior-period comparatives. Notes payable aggregate and current notes figures are disclosed (e.g., $7,973,762 current notes payable) and convertible/non-convertible notes totaling several million dollars. The company issued common stock, warrants and options in various equity transactions and recorded derivative liabilities using Black‑Scholes assumptions including 199% expected volatility. The report also notes significant related-party loans and subsequent issuances of shares for consulting and accredited investor financings.