Sparta Commercial Services, Inc.

What they do

Sparta operates through wholly owned subsidiaries and joint ventures across four stated sectors: FinTech Services, Financial Services, E-Commerce & Mobile Technology, and Health and Wellness. Its FinTech arm, Agoge Global USA, runs EZBroker360, a blockchain-based platform financing cross-border trade between the U.S. and Brazil through a joint venture with WeDev Group Ltda. Its Financial Services arm provides municipal and 501(c)(3) nonprofit equipment financing, and its E-Commerce unit, iMobile Solutions, builds custom mobile apps and sells vehicle history reports. The company is headquartered in New York, New York, with subsidiary offices in Stamford, Connecticut.

Revenue drivers

• Agoge Global USA / EZBroker360 cross-border trade finance — FinTech platform providing staged financing for freightage, customs duties and taxes plus Brazilian compliance and documentation support; the company states cumulative loan deployment has reached $2 million since inception.
• Municipal and nonprofit equipment leasing — Program launched in 2007 that finances police motorcycles, cruisers, buses, fire trucks and EMS vehicles for local/state agencies and IRC 501(c)(3) nonprofits, offered on a pass-through basis with a Midwest bank; the company says it has served over 100 jurisdictions and is a preferred financing source for BMW Motorrad USA Police Motors.
• iMobile Solutions (iMobileApp and vehicle history reports) — Custom mobile application development and hosting for small and medium businesses, plus vehicle history reports sold across all 50 states and 62 countries.

Recent performance

Annual revenue was $345,312 in fiscal 2026, up from $235,544 in 2025, but net loss widened to $2.9 million from $2.1 million. Diluted EPS was -$0.06 in both fiscal 2026 and 2025, versus -$0.02 in 2024. Recent quarterly revenue declined from $99,307 in the quarter ended October 31, 2025 to $92,162 in the quarter ended January 31, 2026 and $57,155 in the quarter ended April 30, 2026. Operating cash flow was negative $779,572 in fiscal 2026, an improvement from negative $1.2 million in each of fiscal 2025 and 2024. At April 30, 2026 the balance sheet showed total assets of $161,734, total liabilities of $12.5 million, shareholder equity of negative $13.3 million, and cash of $118,131.

Strategy

Management is prioritizing Agoge's cross-border trade finance platform, describing a $252 billion addressable market and stating it is seeking debt financing to scale the platform. The company also cites iGoCards, a virtual card and expense management product with a planned receive capability, as an extension of the Agoge ecosystem. Sparta Crypto's digital-currency platform is described as scheduled to launch in 2026, with no assurance that it will reach implementation. Management states it needs to raise approximately $1 million over the next twelve months to support operations until the business becomes cash flow positive. The company has funded itself through unregistered equity sales, most recently in January 2026.

Risks

• History of operating losses — The company reported an accumulated deficit of $71,790,476 at April 30, 2026 and negative working capital of $11,553,887.
• Near-term capital need — Management states it must raise roughly $1 million over the next twelve months and gives no assurance it will have sufficient financing.
• Negative equity and thin asset base — At April 30, 2026 shareholder equity was negative $13.3 million against total assets of only $161,734, with $12.5 million of liabilities.
• Dependence on unregistered equity sales — Recent SEC filings show recurring unregistered sales of equity, most recently on January 20, 2026, indicating reliance on outside capital raises.

Outlook

Management frames Agoge's cross-border trade platform as the primary growth engine, citing a $252 billion market and plans to raise debt financing to scale. It also points to a 2026 launch target for the Sparta Crypto platform and continued development of iGoCards, while cautioning that these plans may not reach implementation. The company acknowledges it needs about $1 million over the next twelve months to fund operations. No specific revenue or earnings guidance is provided.