SPARTA COMMERCIAL SERVICES, INC.
spartacommercial.comAI Executive Summary
AI-powered analysis of 10-Q filing content
Sparta Commercial Services is in severe financial distress with a massive stockholders' deficit of $11.2M and current liabilities of $11.4M far exceeding current assets of $923K. The company has negative working capital of over $10.4M and accumulated losses increased by $1.4M in just 9 months, creating substantial going concern risks.
Red Flags Detected (8)
Stockholders' deficit of $11.2M indicating technical insolvency
Current liabilities ($11.4M) exceed current assets ($923K) by over 1,200%
Negative working capital of $10.47M creates immediate liquidity crisis
5 more red flags detected
Key Takeaways
Company faces imminent liquidity crisis with massive working capital deficit
Revenue growth of 71% to $288K insufficient to cover $1.03M operating expenses
2 more takeaways
Filing Overview
What This Means
Deteriorating Trend: Conditions are worsening compared to previous filings. This may create opportunities for service providers.
Quarterly Report: Interim filing with unaudited financial data for the quarter.