Home / Going-concern warnings / SPARTA COMMERCIAL SERVICES, INC.
Filed 2026-03-23 路 Form 10-Q 路 Accession 0001493152-26-012196 nano
Price before filing: $0.0885 (2026-03-20 close, split/dividend-adjusted)
Market cap at flag: $4.3M (2026-03-23) 路 Latest: $4.2M (2026-10-16)
| Window | SRCO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +2.8% | +9.7% | -6.8% | 2026-04-22 |
| 90 days | -9.6% | +15.1% | -24.7% | 2026-06-22 |
| 180 days | +1.6% | +19.9% | -18.3% | 2026-09-21 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider bought $7K (1 purchase)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-01-16 | bean jeffrey buchanan Director | Purchase | 73,000 | $0.09 | $7K | no | Form 4 |
| 2026-03-23: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-23 to 2026-04-22. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These factors among others raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from the issuance of these financial statements."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-01-31)
Why this score: quarterly (unaudited) disclosure; also within 90 days: Late quarterly report (NT 10-Q)
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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