Sparxx Corporation

What they do

SportsQuest operates a web portal at www.iefranchise.com that lists information on more than 350 franchise opportunities under an agreement with Business Alliance Inc. (BAI). Franchisors also advertise with the company to have their opportunity listed on the site. The company says it can monetize through paid lead generation per transaction or on a subscription basis. It describes itself as focused on providing consulting services to potential franchise buyers.

Revenue drivers

• Franchise advertising listings — Franchisors pay to advertise their franchise opportunity on the iefranchise.com portal; reported revenue was $0 in fiscal 2024 and 2025.
• Paid lead generation — The company states it can charge franchisors per transaction for leads generated through the portal, though no revenue has been reported.
• Subscription monetization — The company states it can monetize franchise sectors on a subscription basis; no subscription revenue is reported in the filings.

Recent performance

Annual revenue was $0.00 in both 2024 and 2025, with quarterly revenue of $0.00 for the quarters ended 2025-03-31, 2025-06-30, 2026-03-31 and 2026-06-30. Net loss narrowed to $121,640 in 2025 from $227,443 in 2024, and diluted EPS improved to -$0.00003 from -$0.00006. The 10-Q for the period ended June 30, 2026 reports a net loss of $27,702 versus $63,642 in the comparable 2025 period, with operating expenses consisting primarily of administrative expenses, consulting services and interest expense. At June 30, 2026 the company reported cash of $3,033, a working-capital deficit of $487,707, total liabilities of $537,398 and shareholder equity of -$522,263.

Strategy

The company states that in 2021 it changed focus to the acquisition of innovative products and services and is now focused on consulting services to potential franchise buyers and advertising franchise opportunities through its website. It redomiciled from Delaware to Wyoming on January 9, 2025. Operations are funded primarily through convertible notes and equity issuances, according to the 10-Q. The company operates as a single operating and reportable segment, with the CEO reviewing performance and allocating resources on a consolidated basis. No new acquisitions, products or capital commitments are disclosed in the excerpts.

Risks

• Going concern — The 10-Q states recurring losses and limited cash resources raise substantial doubt about the company's ability to continue as a going concern.
• No revenue — Reported revenue was $0.00 in 2024, 2025 and every quarter presented, so the portal has not generated top-line results in the periods shown.
• Negative equity and working-capital deficit — At June 30, 2026 total liabilities of $537,398 exceeded total assets of $15,135, leaving shareholder equity of -$522,263 and a working-capital deficit of $487,707.
• Dependence on external financing — The company has funded operations primarily through convertible notes and equity issuances, which can dilute existing holders or add repayment obligations.

Outlook

Management does not provide forward guidance in the excerpts. The 10-Q discloses no revenue and states that recurring losses and limited cash resources raise substantial doubt about the ability to continue as a going concern, funded primarily through convertible notes and equity issuances. The 10-K describes the current business as the iefranchise.com portal and related consulting to potential franchise buyers. No specific revenue, product launch or financing plans are disclosed in the provided material.