By: Tomas Ronolski - AllPennyStocks.com News

Thursday, May 2, 2013

Carfax is the household brand that most people think of when it comes to vehicle history reports. The company has certainly done well building its brand to the point that it now sponsors NASCAR’s CarFax 250 at Michigan International Speedway and most people know Car Fox, the company’s mascot and lead character in advertisements. In February, Carfax said that their database of vehicle history reports surpassed 11 billion records and is being added to daily from over 75,000 sources. There’s a junior out there that looking to carve away at some of the market share controlled by Carfax. NYC-based technology company Sparta Commercial Services, Inc. (OTCBB:SRCO), through its subsidiary Specialty Reports, Inc., offers a swath of online tools and products related to powersports, recreational vehicles and automobiles.

Sparta also offers nationwide, independent financial services, including a successful municipal leasing program providing lease purchase financing to municipal agencies (i.e. police departments) without the immediate financial resources to buy new cruisers or trucks. The program can also be used for things such as school buses, EMS equipment, fire department assets and more for day-to-day or emergency applications. Through a partnership, Sparta also has its hand in merchant services as well as working capital and expansion loans.

Specialty Reports, Inc. provides its Cyclechex Motorcycle History Report and RVChecks History Report, focusing specifically on the motorcycle and recreational vehicle industries, respectively. In line with Carfax, the company also offers CarVIN report, providing reports on automobiles and light trucks.

For a fee, the history of a vehicle, regardless of country of origin, can be obtained with the entry of a seventeen digit Vehicle Identification Number (VIN). CarVIN reports are available at dealerships across the country as well as DMV.org, and the websites of popular auto guidebook companies NADAguides and Kelly Blue Book.

On Wednesday, Specialty Reports said that sales are continuing to grow across their platforms. More specifically, the company said that revenue from Cyclechex and RVChecks grew an average in excess of 17 percent in April 2013 as compared to April 2012.

To date, the vehicle history reports of Specialty Reports have been sold in all fifty states and the District of Columbia, in addition to forty-six other countries.

About one week ago, the company said that revenues from its Specialty Mobile Apps Group increased by 78.5 percent in 50 weeks to April 15, 2013 compared to the full year ended April 30, 2012. Specialty Mobile Apps has built and launched native apps for automotive, powersports, RV and marine dealers in thirty-one states and the District of Columbia. Specialty Reports believes it is now “the preeminent provider of mobile app technology to Harley-Davidson motorcycle dealers throughout the United States.”

Shares of SRCO have bounced from lows of 26 cents in mid-April back up to 41 cents in the past two weeks, but are still holding a long-term downtrend. Interestingly, when shares dipped to this level in early 2012, the price springboarded upward to as high as $2.25 in about one month, before continuing the downtrend back towards current levels. Proper due diligence into the potential of another rise is, as always, encouraged.

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