NEW YORK, NY — (Marketwire) — 01/27/11 — Sparta Commercial Services, Inc. (OTCBB: SRCO) today announced that its subsidiary, Cyclechex, the first and only provider of exclusive online motorcycle history reports, will now be available to consumers, retail motorcycle dealers, auction companies, insurers, and others, through a customized and highly advanced app for iPhones.
The new technology will enable anyone to go to Cyclechex.com and download the free app. In addition to the ability to download and view Cyclechex Motorcycle History Reports on iPhones, the Cyclechex technology update also includes a state-of-the-art code, known as a “QR Code,” which is a cutting-edge distant cousin of the bar code technology that the entire world has become accustomed to. With this technology, anyone who accesses the free Cyclechex download for their iPhone will be able to visit any participating retail powersports dealer who is utilizing Cyclechex history reports, scan the QR codes that appear on the headlight tags of the motorcycles at that location, and get an immediate Cyclechex history report for that specific vehicle.
For the development of its state-of-the-art app, Cyclechex turned to Crash Bang Studios of Tampa, FL., a young, highly innovative company that specializes in the design and production of wireless mobile apps for a variety of platforms, in order to deliver the kinds of communication, information, and entertainment that appeal to the ever-growing number of consumers who want access to all this through their mobile devices.
Speaking about his company’s relationship with Cyclechex, Mike Peloquin, VP of Business Development for Crash Bang Studios, said, “Giving customers real time access to Cyclechex’s motorcycle background database as they are shopping, leverages two incredibly powerful assets to enable an informed and complete buying or selling experience. Crash Bang’s approach to mobile platform app development is designed to quickly transform ideas into easy to use and powerful tools. We work closely with our clients to make sure their requirements translate to the mobile app space, extending their brand and optimizing their customer’s experience.”
Cyclechex is the first commercial product offering from Specialty Reports, Inc., a subsidiary of Sparta Commercial Services, Inc., the New York-based financial services company historically devoted to the powersports industry. Commenting on the major technological development, Anthony Havens, CEO of both Sparta and Specialty Reports, said “With this exciting advancement in access opportunities for Cyclechex motorcycle history reports, we believe that our product has broken new ground, and will gain even greater attention in the powersports industry than we already have. Already, the Cyclechex report has captured the interest of retail motorcycle dealers, insurers, auction companies, and a wide range of online industry players, and the early response among these interests to our new mobile technology clearly indicates that Cyclechex will undoubtedly experience dramatic growth in the months to come. We couldn’t be more enthusiastic about the promise of Cyclechex, for our company, our shareholders, and the innovations we’re bringing to the powersports industry.”
About Crash Bang Studios: Wireless mobile platforms such as Apple’s iPhone, Google’s Android, and Microsoft’s Windows Mobile are part of a revolution in customer behavior. Customers are rapidly moving toward a model where they expect their communication, information, and entertainment needs to be accessible from their mobile devices. Crash Bang Studios, www.crashbangstudios.com, is committed to providing best in class mobile app development in collaboration with our clients. We provide end-to-end services, from design to development to marketing, ensuring their ideas become reality in today’s mobile economy.
About Sparta Commercial Services, Inc.: Sparta Commercial Services, Inc., www.spartacommercial.com, is a New York-based, nationwide financial services company offering financing and leasing products to consumers and retail powersports dealers. Sparta also serves municipal and governmental agencies nationwide with its Municipal Lease Program, which offers financing for essential equipment for the law enforcement and emergency response communities.
Our subsidiary, Specialty Reports, Inc. d/b/a Cyclechex, is in the business of offering online access to title histories and salvage information for various classes of previously owned assets. Cyclechex’s initial product release is the Cyclechex Motorcycle History Report.
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
Contact: Mike Peloquin VP Business Development Crash Bang Studios, LLC sales@crashbangstudios.com 1-888-970-6660
Dick Trotter COO Sparta Commercial Services, Inc. (212) 239-2666
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