Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒	QUARTERLY REPORT according to SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended October 31, 2024

☐	TRANSITION REPORT according to SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ________ to ___________.

Commission file number: 0-9483

SPARTA COMMERCIAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

Nevada		30-0298178
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

555 Fifth Avenue, 14th Floor, New York, NY 10017

(Address of principal executive offices) (Zip Code)

(212) 239-2666

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common stock, $.001 par value		SRCO		Pink Open Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 504 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to file such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐		Accelerated filer ☐
Non-accelerated filer ☐		Smaller reporting company ☒
(Do not check if a smaller reporting company)		Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

As of December 23, 2024, we had 37,863,288 shares of common stock issued and outstanding.

SPARTA COMMERCIAL SERVICES, INC.

FORM 10-Q

FOR THE QUARTER ENDED October 31, 2024

TABLE OF CONTENTS

		Page

PART I.	FINANCIAL INFORMATION	3

Item 1.	Financial Statements (Unaudited)	3

	Condensed Consolidated Balance Sheets as of October 31, 2024 (unaudited) and April 30, 2024	3
	Condensed Consolidated Statements of Operations for the Three Months ended October 31, 2024, and 2023 (unaudited)	4
	Condensed Consolidated Statement of Changes in Deficit for the Three Months ended October 31, 2024 (unaudited)	5
	Condensed Consolidated Statements of Cash Flows for the Three Months ended October 31, 2024, and 2023 (unaudited)	6
	Notes to Unaudited Condensed Consolidated Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	16

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	22

Item 4.	Controls and Procedures	22

PART II.	OTHER INFORMATION	24

Item 1.	Legal Proceedings	24

Item 1A.	Risk Factors	24

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	25

Item 3.	Defaults Upon Senior Securities	25

Item 5.	Other Information	25

Item 6.	Exhibits	25

Signatures		26

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

SPARTA COMMERCIAL SERVICES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF OCTOBER 31, 2024, AND APRIL 30, 2024

(Unaudited)


	October 31,			April 30.
	2024			2024
ASSETS
Current Assets
Cash and cash equivalents	$	93,840		$	100,953
Accounts receivable		3,081			6,724
Inventory		6,163			3,004
Loans receivable		523,766			-
Total Current Assets		626,850			110,681
Deposits - rent deposit		9,000			9,000
Total assets	$	635,850		$	119,681
LIABILITIES AND DEFICIT
Liabilities:
Current Liabilities
Accounts payable and accrued expenses	$	1,318,643		$	1,208,195
Short Term Loan		1,585			1,585
Current portion notes payable		7,485,493			7,168,481
Loans payable-related parties		635,319			637,077
Derivative liabilities		1,019,644			740,940
Total Current Liabilities		10,460,684			9,756,278

Notes payable- net of current portion		341,829			-
Total Long Term Liabilities		341,829			-
Total liabilities		10,802,513			9,756,278
Stockholders’ Deficit:
Preferred stock, $0.001 par value; 10,000,000 shares authorized of which 35,850 shares have been designated as Series A convertible preferred stock, with a stated value of $100 per share, 125 and 125 shares issued and outstanding as of October 31, 2024 and April 30, 2024, respectively	$	12,500			12,500
Preferred stock C, 4,200,000 shares have been designated as Series C redeemable, convertible preferred, $0.001 par value, with a liquidation and redemption value of $1 per share,1,919,157 and 1,919,157 shares issued and outstanding as of October 31, 2024 and April 30, 2024, respectively		1,919			1,919
Preferred stock D, 2,000,000 shares have been designated as Series D redeemable, convertible preferred, $0.001 par value, with a liquidation and redemption value of $1.00 per share, 400,877 and 400,877 shares issued and outstanding as of October 31, 2024 and April 30, 2024, respectively		401			401
Preferred stock, value		401			401
Common stock, $0.001 par value; 750,000,000 shares authorized, and 36,210,837 and 29,495,189 shares issued and outstanding as of October 31, 2024 and April 30, 2024, respectively		36,211			29,495
Common stock to be issued 33,490,238 and 33,395,883 as of October 31, 2024 and April 30, 2024, respectively		34,174			33,396
Additional paid-in-capital		56,592,040			55,870,123
Additional paid-in-capital- reserves		327,224			204,385
Accumulated deficit		(68,176,055	)		(66,795,350	)
Total deficiency in stockholders’ equity		(11,171,586	)		(10,643,131	)
Non-controlling interest		1,004,923			1,006,534
Total Deficit		(10,166,663	)		(9,636,597	)
Total Liabilities and Deficit	$	635,850		$	119,681

See accompanying notes to unaudited condensed consolidated financial statements.

SPARTA COMMERCIAL SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED OCTOBER 31, 2024, AND 2023

(Unaudited)

	2024			2023			2024			2023
	For the three months ended October 31,						For the six months ended October 31,
	2024			2023			2024			2023
Revenue
Information technology	$	27,695		$	42,875		$	62,039		$	98,071
Wellness products		6,120			9,543			11,182			16,626
Merchant financing		13,993			-			16,138			-
Total Revenue		47,808			52,418			89,359			114,697
Less Cost of goods sold		4,654			14,135			13,237			23,059
Gross profit	$	43,154		$	38,283		$	76,122		$	91,638
Operating expenses:
Compensation and related costs		174,066			138,697			388,196			299,792
Accounting and legal Fees		23,670			44,510			47,890			45,650
Consulting fees		105,315			14,400			179,375			34,890
Rent and lease		18,000			18,000			36,000			36,000
General office expenses		50,999			89,239			97,351			203,551
Total operating expenses		372,050			304,846			748,812			619,883

Loss from operations	$	(328,896	)	$	(266,563	)	$	(672,690	)	$	(528,245	)
Other (income) expense:
Commission on Municipal Bonds	$	(7,489	)	$	(3,166	)	$	(9,993	)	$	(3,897	)
Financing costs		207,976			144,481			452,910			284,867
Write off convertible notes		-			(21,364	)		-			(60,789	)
Loss (gain) in changes in fair value of derivative liability		(99,588	)		(24,095	)		278,704			(177,373	)
Other income		(11,995	)		-			(11,995	)
Total other (income) expense	$	88,904		$	95,856		$	709,626		$	42,808
Net income (loss)		(417,800	)		(362,419	)		(1,382,316	)		(571,053	)
Net profit attibutable to minority shareholder		268			(1,972	)		1,611			(4,681	)
Preferred dividend		-			-			-			-
Net income (loss) attributed to common stockholders	$	(417,532	)	$	(364,391	)	$	(1,380,705	)	$	(575,734	)
Basic and diluted loss per share:
Income (Loss) from continuing operations attributable to Sparta Commercial Services, Inc. common stockholders		(0.01	)		(0.01	)		(0.04	)		(0.02	)
Net loss attributable to Sparta Commercial Services, Inc. common stockholders	$	(0.01	)	$	(0.01	)	$	(0.04	)	$	(0.02	)
Weighted average shares outstanding		35,388,095			24,323,456			32,872,509			24,323,456

See accompanying notes to unaudited condensed consolidated financial statements.

SPARTA COMMERCIAL SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDER’S DEFICITS

For the three months ended October 31, 2024, and 2023


																							Additional
	Series A				Series C				Series D								Common Stock						Paid in		Additional					Non
	Preferred Stock				Preferred Stock				Preferred Stock				Common Stock				to be issued						Capital		Paid in		Accumulated			controlling
	Shares		Amount		Shares		Amount		Shares		Amount		Shares		Amount		Shares			Amount			(Reserves)		Capital		Deficit			Interest			Total
Balance April 30, 2024		125		12,500		1,919,157		1,919		400,877		401		29,495,189		29,495		33,395,883			33,396			204,385		55,870,123		(66,795,350	)		1,006,534		$	(9,636,597	)
Subscribed shares issued		-		-		-		-		-		-		408,250		408		(408,250	)		(408	)		-		-		-			-			-
Issuance of common stock for cash		-		-		-		-		-		-		1,971,673		1,972		1,813,590			1,814			-		331,214		-			-			335,000
Issuance of common stock for services		-		-		-		-		-		-		200,000		200		-			-			-		22,800		-			-			23,000
Conversion of notes payable		-		-		-		-		-		-		750,000		750		-			-			-		74,250		-			-			75,000
Warrants issued on equity issuance		-		-		-		-		-		-		-		-		-			-			72,558		-		-			-			72,558
Commitment Shares not yet issued		-		-		-		-		-		-		-		-		200,000			200			-		18,440		-			-			18,640
Net loss		-		-		-		-		-		-		-		-		-			-			-		-		(963,173	)		(1,343	)		(964,516	)
Balance July 31, 2024		125		12,500		1,919,157		1,919		400,877		401		32,825,112		32,825		35,001,223			35,002			276,943		56,316,827		(67,758,523	)		1,005,191			(10,076,915	)

Subscribed shares issued		-		-		-		-		-		-		2,826,908		2,827		(2,826,908	)		(2,827	)		-		-		-			-			-
Issuance of common stock for cash		-		-		-		-		-		-		50,014		50		1,315,923			1,999					210,451		-			-			212,500
Conversion of notes payable		-		-		-		-		-		-		100,000		100		-			-			-		9,900		-			-			10,000
Default shares issued		-		-		-		-		-		-		254,847		255		-			-			-		-		-			-			255
Warrants issued on equity issuance		-		-		-		-		-		-		-		-		-			-			50,281		-		-			-			50,281
Issuance of common stock for services		-		-		-		-		-		-		153,956		154		-			-			-		54,862		-			-			55,016
Net loss		-		-		-		-		-		-		-		-		-			-			-		-		(417,532	)		(268	)		(417,800	)
Balance October 31, 2024		125	$	12,500		1,919,157	$	1,919		400,877	$	401		36,210,837	$	36,211		33,490,238		$	34,174		$	327,224	$	56,592,040	$	(68,176,055	)	$	1,004,923		$	(10,166,663	)

Balance April 30, 2023		125	$	12,500		1,979,157	$	1,979		937,701	$	938		23,045,205	$	23,045		23,704,788		$	23,705		$	-	$	54,872,206	$	(66,150,857	)	$	969,295		$	(10,247,189	)
Issuance of common shares for cash		-		-		-		-		-		-		-		-		1,132,910			1,133			-		103,867		-			-			105,000
Stocks issued as a note holder incentive		-		-		-		-		-		-		75,000		75		-			-			-		6,900		-			-			6,975
Issuance of shares for services		-		-		-		-		-		-		830,906		831		(830,906	)		(831	)		-		69,169		-			-			69,169
Net loss		-		-		-		-		-		-		-		-		-			-			-		-		(211,343	)		2,709			(208,634	)
Balance July 31, 2023		125		12,500		1,979,157		1,979		937,701		938		23,951,111		23,951		24,006,792			24,007			-		55,052,142		(66,362,200	)		972,004			(10,274,679	)
Balance		125		12,500		1,979,157		1,979		937,701		938		23,951,111		23,951		24,006,792			24,007			-		55,052,142		(66,362,200	)		972,004			(10,274,679	)

Issuance of common shares for cash		-		-		-		-		-		-		-		-		988,000			988			-		64,012		-			-			65,000
Stocks issued as a note holder incentive		-		-		-		-		-		-		-		-		54,000			54			-		4,946		-			-			5,000
Issuance of shares for services		-		-		-		-		-		-		25,000		25		-			-			-		3,850		-			-			3,875
Stock issued for equity		-		-		-		-		-		-		346,995		347		(346,995	)		(347	)		-		24,653		-			-			24,653
Net loss		-		-		-		-		-		-		-		-		-			-			-		-		(364,391	)		1,972			(362,419	)
Balance October 31, 2023		125	$	12,500		1,979,157	$	1,979		937,701	$	938		24,323,106	$	24,323		24,701,797		$	24,702		$	-	$	55,149,603	$	(66,726,591	)	$	973,976		$	(10,538,570	)
Balance		125	$	12,500		1,979,157	$	1,979		937,701	$	938		24,323,106	$	24,323		24,701,797		$	24,702		$	-	$	55,149,603	$	(66,726,591	)	$	973,976		$	(10,538,570	)

See accompanying notes to unaudited condensed consolidated financial statements.

SPARTA COMMERCIAL SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

for the three months ended October 31, 2024, and 2023

(UNAUDITED)

	2024			2023
	Six Months Ended
	2024			2023

CASH FLOWS FROM OPERATING ACTIVITIES
Net Income ( loss )	$	(1,382,316	)	$	(571,053	)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss (Gain) from change in fair value of derivative liabilities		278,704			(177,373	)
Non-cash financing cost		270,937			284,867
Shares issued for services		78,016			-
Stocks issued as note holder incentive		18,895			-
Forgiveness of debt		-			(60,789	)
Changes in operating assets and liabilities
Accounts receivable		3,643			(870	)
Inventory		(3,159	)		(2,022	)
Loans receivable		(523,766	)		-
Accounts payable and accrued expenses		258,183			87,425
Net cash used in operating activities	$	(1,000,863	)	$	(439,815	)

CASH FLOWS FROM INVESTING ACTIVITIES:	$	-		$	-

CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft	$	-		$	888
Proceeds from sale of stock		547,500			105,461
Stocks issued for equity		-			175,000
Net Proceeds from notes payable		448,008			159,000
Repayment of related party loans		(1,758	)		-
Net cash provided by financing activities	$	993,750		$	440,349

Net (decrease) increase in cash	$	(7,113	)	$	534

Cash and cash equivalents, beginning of period		100,953			4,028
Cash and cash equivalents , end of period	$	93,840		$	4,562

Cash paid for:
Interest		-			-
Income taxes		-			-

See accompanying notes to unaudited condensed consolidated financial statements.

SPARTA COMMERCIAL SERVICES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2024

(UNAUDITED)

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies applied in the preparation of the accompanying unaudited condensed consolidated financial statements follows.

Business

General Overview

Sparta Commercial Services, Inc. (“Sparta,” “we,” “us,” or the “Company”) is a Nevada corporation with headquarters in New York City, (www.spartacommercial.com). We are a multi-disciplined parent corporation operating across three business sectors – Financial Services, E-Commerce & Mobile Technology, and Health and Wellness,

Sparta’s roots are in the Powersports industry. The Company provided retail installment loans and leases through authorized motorcycle dealerships in 33 states, with financing provided by institutional lenders. The Company also maintained a full underwriting and servicing platform for its portfolio. Notwithstanding the discontinuance of our initial focus on consumer loans and leases post Lehman and during the 2008 financial crisis, in 2007, the Company introduced a new initiative, Municipal Financing (www.spartamunicipal.com), which has financed over 100 jurisdictions to date. Sparta’s Municipal Finance program is available to all nonprofit organizations, institutions, and entities. All nonprofit organizations which adhere to I.R.S. guidelines, including 501 (c) 3 of the Internal Revenue Code, are eligible. Both public nonprofits, also known as public charities supported with publicly collected funds, and private nonprofits, also known as private foundations backed by an individual or business entity, qualify for the program..

Consumers, retailers, municipals, nonprofits, auction houses, banks, and insurance companies scrutinize title history reports for the vital information needed and factored into crucial business decisions affecting the bottom line. Vehicle History Reports are a staple of Sparta’s E-Commerce Technology subsidiary iMobile Solutions, Inc. Whether a vehicle is intended for business or recreational use, Sparta’s Vehicle History Reports are highly regarded for accuracy and completeness. They have been sold across all 50 states and in 62 countries worldwide. They provide a trusted layer of assurance to vehicle buyers and are available on our websites as well as on various dealership websites. They include Cyclechex (Motorcycle History Reports at www.cyclechex.com), RVchex (Recreational Vehicle History Reports at www.rvchex.com), and Truckchex (Heavy Duty Truck History Reports at www.truckchex.com).

The Company’s E-Commerce and Mobile Technology subsidiary name change to iMobile Solutions, Inc., from Specialty Reports, Inc., in 2016, signifies its ever-broadening service offerings in the evolving technology landscape. With iMobile App (www.imobileapp.com), the Company provides mobile technology services, including web and mobile application creation, development, and management for a wide range of businesses to increase revenue, build brand recognition, and improve customer engagement. Our ever-broadening business base of mobile applications includes vehicle dealerships and racetracks, private clubs and country clubs, schools and entertainment venues, restaurants, grocery stores, and various other merchant types. (www.imobileapp.com/app-gallery). The Company also designs, launches, maintains, and hosts websites for businesses incorporating SEO (search engine optimization), social media marketing, and online reviews to improve their presence online.

We provide specific, tailored action plans for our clients’ websites that include services such as eCommerce, CRM (Customer Relationship Management) development, and integration. This custom software helps businesses communicate with customers and can also be used for employees to communicate internally. The CRM software can be web-based, integrated with a mobile app, or both. We work with clients to understand their unique needs and incorporate the features and requirements that are most important to them and will facilitate their business growth and success. Correspondingly, the Company designs and builds custom kitchen ordering software for independent grocery stores, delicatessens, and other food service businesses. The software can be designed in various ways, including mobile devices and in-store ordering. The kitchen ordering software is enabled with payment integration, text messaging notification, wireless printing, and other features. iMobile Solutions, Inc. provides a turn-key solution for businesses looking to simplify or streamline their kitchen ordering process. Additionally, we offer text messaging services, which supplement business marketing strategies to gain and retain brand loyalty among its clients, customers, and investors. Our text messaging platform allows clients to manage, schedule, and analyze text message performance quickly.

Sparta’s response to the onset of the COVID-19 pandemic in early 2020 quickly took shape with thorough investigations into evolving customer trends in health and wellness. As a result, we expanded New World Health Brands and developed a new product line of natural dietary supplements. In August 2020, we launched an online B to C website: www.newworldhealthbrands.com, featuring high-quality nutritional supplements, including vitamins and minerals, such as, Iodine for children and adults, Boron, copper/Zinc/Selenium, Magnesium, Spermidine, Vitamin B Complex, Vitamin C and PQQ, with more products to come. All health and wellness offerings are exclusively sourced and manufactured in the United States and adhere to strict U.S. standards and guidelines to ensure the safety and quality of our products. Sparta’s commitment to high standards and transparency is tantamount to being a trusted brand.

Sparta’s subsidiary, Sparta Crypto, Inc., www.SpartaCrypto.com, was established in September 2020, and is in the process of completing a proprietary state-of-the-art platform designed to connect users of widely adopted digital currencies with sellers of various goods and services. The platform is scheduled to launch in 2023 and the Company can make no assurances that the described plan will reach implementation. In addition, the Company has completed and tested a cryptocurrency payment gateway called SpartaPayIQ, www.SpartaPayIQ.com, which is functional and was formally announced on March 3, 2022.

Agoge Global USA, Inc. was formed as a subsidiary of Sparta Crypto, Inc. in December 2022 and entered into a Joint Venture Agreement with WeDev Group to facilitate cross-border transactions between importers and exporters of goods from the U.S. and Brazil. In addition, Agoge Global USA provides business intermediary services to global importers and exporters of goods and services. These services provided through our joint venture agreement with WeDev include, but are not limited to, industry introductions, tax and regulatory compliance assistance, import and export documentation assistance, reselling services in other jurisdictions, and facilitation of cross-border transactions.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements as of October 31, 2024 and for the three months ended October 31, 2024 and 2023 have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-Q and Regulation S-K. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. The Company believes that the disclosures provided are adequate to make the information presented not misleading.

These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and explanatory notes for the year ended April 30, 2024 as disclosed in the Company’s Form 10-K for that year as filed with the Securities and Exchange Commission on August 14, 2024.

The results of operations for the three months ended October 31, 2024 are not necessarily indicative of the results to be expected for any other interim period or the full year ending April 30, 2025.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. The third-party ownership of the Company’s subsidiary is accounted for as noncontrolling interest in the consolidated financial statements. Changes in the noncontrolling interest are reported in the statement of changes in deficit.

Estimates

These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosures of revenues and expenses for the said period. Accordingly, actual results could differ from those estimates.

Revenue Recognition

Revenue is recognized in accordance with Accounting Standards Codification (“ASC”) Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue utilizing the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied.

The Company acts as a principal in its revenue transactions as it is the primary obligor.

SCHEDULE OF DISAGGREGATION REVENUE

Revenue		October 31, 2024		July 31, 2024
	Three months ended
Revenue		October 31, 2024		July 31, 2024
Information technology	$	27,695	$	34,344
New World Health		6,120		5,062
Merchant financing		13,993		2,145
Total	$	47,808	$	41,551

Revenues from mobile app products and New World Health Brands products are generally recognized upon delivery. Revenues from History Reports are typically recognized upon delivery/download. Prepayments received from customers before delivery (if any) are recognized as deferred revenue and recognized upon delivery. The Company records deferred revenues when cash payments are received or due before our performance, including refundable amounts. Revenues from merchant financing is recognized over the life of the contracts.

Cash Equivalents

All liquid investments with three months or less maturity are cash equivalents for the accompanying financial statements.

Website Development Costs

The Company recognizes website development costs in accordance with ASC 350-50, “Accounting for Website Development Costs.” As such, the Company expenses all costs incurred that relate to the planning and post implementation phases of development of its website. Direct costs incurred in the development phase are capitalized and recognized over the estimated useful life. Costs associated with repair or maintenance for the website are included in cost of net revenues in the current period expenses.

Fair Value Measurements

The Company has adopted ASC 820, “Fair Value Measurements (“ASC 820”).” ASC 820 establishes a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The scale gives the highest priority to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs to fair value measurements of certain assets and Liabilities. The three levels of the fair value hierarchy under ASC 820 are described below:

	●	Level 1 — Quoted prices for identical instruments in active markets. Level 1 assets and liabilities include debt and equity securities, derivative contracts traded in an active exchange market, and certain highly liquid securities actively traded in over-the-counter markets.
	●	Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
	●	Level 3 — Unobservable inputs supported by little or no market activity and significant to the fair value measurements. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques based on significant unobservable inputs, as well as management judgments or estimates that are significant to the valuation.

This hierarchy requires the Company to use observable market data when available and to minimize the use of unobservable inputs when determining fair value. Observable inputs may not always be available for some products or in certain market conditions.

Income Taxes

We utilize ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at year-end based on enacted laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income.

The Company recognizes the impact of a position in the financial statements only if that position is more likely than not to be sustained upon examination by taxing authorities based on the technical merits of the position. Our practice recognizes interest or penalties related to income tax matters in income tax expense.

Stock-Based Compensation

We account for our stock-based compensation under ASC 718 “Compensation–Stock Compensation” using the fair value-based method. Under this method, compensation cost is measured at the grant date based on the value of the award. It is recognized over the service period, usually the vesting period. This guidance establishes standards for accounting transactions in which an entity exchanges its equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services based on the fair value of the entity’s equity instruments, or the issuance of those equity instruments may settle that.

We use the fair value method for equity instruments granted to non-employees and the Black-Scholes model to measure options’ fair value. The stock-based fair value compensation is determined as of the date of the grant or at which the performance of the services is completed (measurement date) and is recognized over the vesting periods.

Inventories

The Company’s inventories represent finished goods, consisting of available products. They are accounted for using the first-in, first-out (FIFO) method and valued at the lower of cost or net realizable value. Inventory consists of finished goods for the Company’s New World Health business.

Concentrations of Credit Risk

Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents, and receivables. The Company places its cash and temporary cash investments with high-credit quality institutions. At times, such investments may be more than the FDIC insurance limit.

Net Loss Per Share

The Company uses ASC 260-10, “Earnings Per Share” for calculating the basic and diluted loss per share. The Company computes basic loss per share by dividing net loss and net loss attributable to common shareholders by the weighted average number of common shares outstanding. Common equivalent shares are excluded from the computation of net loss per share if their effect is anti-dilutive.

Derivative Liabilities

The Company assessed the classification of its derivative financial instruments as of October 31, 2024, and April 30, 2024, which consist of convertible instruments and rights to shares of the Company’s common stock. It determined that such derivatives meet the criteria for liability classification under ASC 815.

ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirements of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed conventional, as described.

Convertible Instruments

The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for “Accounting for Derivative Instruments and Hedging Activities.”

The Company assessed the classification of its derivative financial instruments as of October 31, 2024 and April 30, 2024, which consist of convertible instruments and rights to shares of the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815.

Reclassifications

Certain reclassifications have been made to conform with prior periods’ data to the current presentation. These reclassifications did not affect reported losses.

Recent Accounting Pronouncements-

No recent pronouncements have been made or adopted in the quarter ended October 31, 2024. All of the pronouncements that affect our business have been adopted.

NOTE B – GOING CONCERN MATTERS

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying unaudited condensed consolidated financial statements, the Company has incurred recurring losses and generated negative cash flows from operating activities since inception. As of October 31, 2024, the Company had an accumulated deficit of $68,176,055 and a working capital deficit of $9,833,834. The Company’s cash balance and revenues generated are not currently sufficient and cannot be projected to cover its operating expenses for the next twelve months from the filing date of this report. 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.

The Company’s existence is dependent upon management’s ability to develop profitable operations. Management is devoting substantially all of its efforts to developing its business and raising capital and there can be no assurance that the Company’s efforts will be successful. No assurance can be given that management’s actions will result in profitable operations or the resolution of its liquidity problems. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern.

In order to improve the Company’s liquidity, the Company’s management is actively pursuing additional equity financing through discussions with investment bankers and private investors. There can be no assurance that the Company will be successful in its effort to secure additional equity financing.

The Company’s existence depends on management’s ability to develop profitable operations. Management is devoting substantially all its efforts to growing its business and raising capital, and there can be no assurance that the Company’s efforts will be successful. The management’s actions are not guaranteed to result in profitable operations or resolve liquidity problems. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern.

The Company’s management actively pursues additional equity financing through discussions with investment bankers and private investors. There can be no assurance that the Company will be successful in its effort to secure additional equity financing.

NOTE C – NOTES PAYABLE AND DERIVATIVES

The Company has numerous outstanding notes payable to various parties. The notes bear interest at rates of 5% - 20% per year and are summarized as follows:

SCHEDULE OF NOTES PAYABLE

Notes Payable	October 31, 2024		April 30, 2024
Notes convertible at holder’s option	$	2,231,197	$	2,723,197
Notes convertible at Company’s option		335,700		335,700
Non-convertible notes payable		2,913,400		2,399,221
Accrued interest		2,005,196		1,710,363
Notes payable current		7,485,493		7,168,481
Add non-current portion		341,829		-
Total	$	7,827,322	$	7,168,481

Certain notes payable contain variable conversion rates, and the conversion features are classified as derivative liabilities. The conversion prices are based on the market price of the Company’s common stock, at discounts of 60% to market value.

The Company’s derivative financial instruments are embedded derivatives related to the outstanding short-term Convertible Notes Payable. These embedded derivatives included certain conversion features indexed to the Company’s common stock. The accounting treatment of derivative financial instruments requires that the Company record the derivatives and related items at their fair values as of the inception date of the Convertible Notes Payable and at fair value as of each subsequent balance sheet date. In addition, under the provisions of Accounting Standards Codification subtopic 815-40, Derivatives and Hedging; Contracts in Entity’s Own Equity (“ASC 815-40”), as a result of entering into the Convertible Notes Payable, the Company is required to classify all other non-employee stock options and warrants as derivative liabilities and mark them to market at each reporting date. Any change in fair value, including modifications of terms, will be recorded as non-operating, non-cash income, or expense at each reporting date. If the fair value of the derivatives is higher at the subsequent balance sheet date, the Company will record a non-operating, non-cash charge. If the fair value of the products is lower at the subsequent balance sheet date, the Company will record non-operating, non-cash income. These Notes are subject to a six-year Statute of Limitations in which to bring any potential claims.

The change in fair value of the derivative liabilities on October 31, 2024, was calculated with the following average assumptions using a binomial option pricing model are as follows:

Significant Assumptions:

Risk-free interest rate	4.28	%
Expected stock price volatility	125	%
Expected dividend payout	0
Expected life in years	1 Year

Changes in derivative liability during the three months ended October 31, 2024, and 2023 were: 1,019,644

	October 31,			October 31,
	2024			2023
Balance, beginning of year	$	1,119,232		$	1,375,767
Balance	$	1,119,232		$	1,375,767
Derivative liability extinguished		-			(100,797	)
Derivative financial liability arising on the issuance of convertible notes and warrants		-			-
Fair value adjustments		(99,588	)		(76,576	)
Balance, end of period	$	1,019,644		$	1,198,394
Balance	$	1,019,644		$	1,198,394

NOTE D – LOANS PAYABLE TO RELATED PARTIES

As of October 31, 2024, and April 30, 2024, aggregated loans and notes payable, without demand and with interest from 0% to 12%, to officers, directors, and other related parties were $635,319 and $637,077, respectively.

NOTE E – EQUITY TRANSACTIONS

Preferred Stock

The Company is authorized to issue 10,000,000 shares of preferred stock with $0.001 par value per share, of which 35,850 shares have been designated as Series A convertible preferred stock with a $100 stated value per share; 1,000 shares have been designated as Series B Preferred Stock with a $10,000 per share liquidation value; 4,200,000 shares have been designated as Series C Preferred Stock with a $1.00 per share liquidation value, and 2,000,000 shares have been designated as Series D Preferred Stock with a $1 per share liquidation value. During the three months ended October 31, 2024 and 2023, the Company did not issue any preferred stock.

Common Stock

The Company is authorized to issue 750,000,000 shares of common stock, $0.001 par value. The Company had 36,210,837 and 29,495,189 shares of common stock issued and outstanding as of October 31, 2024 and April 30, 2024, respectively. The Company had 33,490,238 and 33,395,883 shares of common classified as to be issued at October 31, 2024 and April 30, 2024, respectively.

During the six months ended October 31, 2024, the Company:

	●	Issued 3,043,232 shares and 2,107,968 shares to be issued valued at $547,500 to accredited investors related to equity investments.
	●	Issued 153,956 shares valued at $55,016 for consulting services.
	●	579,847 shares of common stock to be issued as an incentive or penalty to noteholders valued at $42,890.
	●	Issued 850,000 shares of common stock valued at $85,000 upon the conversion of convertible notes

During the six months ended October 31, 2023, the Company:

	●	Issued 1,178,251 shares valued at $95,000 to four accredited investors related to equity investments.
	●	Issued 25,000 shares valued at $3,875 for consulting services.
	●	Issued 75,000 shares of common stock as an incentive to noteholder valued at $6,975.
	●	Sold to five accredited investors 1,127,372 shares of common stock for cash of $85,000, actual shares were not issued yet and recorded as common stock to be issued.

NOTE F – FAIR VALUE MEASUREMENTS

The Company follows the guidelines established according to ASC 820, which established a framework for measuring fair value and expands disclosure about fair value measurements. ASC 820 defines fair value as the amount received for an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes the following three levels of inputs that may be used:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets and liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs when there is little or no market data available, thereby requiring an entity to develop its own assumptions. The fair value hierarchy gives the lowest priority to Level 3 inputs.

The table below summarizes the fair values of financial liabilities as of October 31, 2024:

	Fair Value at		Fair Value Measurement Using
	October 31, 2024		Level 1		Level 2		Level 3
Derivative liabilities	$	1,019,644	$	-	$	-	$	1,019,644

Fair values of financial liabilities as of April 30, 2024, are as follows:

	Fair Value at		Fair Value Measurement Using
	April 30, 2024		Level 1		Level 2		Level 3
Derivative liabilities	$	740,940	$	-	$	-	$	740,940

The following is a description of the valuation methodologies used for these items:

Derivative liabilities — these instruments consist of certain variable conversion features related to notes payable obligations and certain outstanding warrants. These instruments were valued using pricing models incorporating the Company’s stock price, volatility, U.S. risk-free rate, dividend rate, and estimated life.

The Company did not identify any other non-recurring assets and liabilities that are required to be presented in the balance sheets at fair value following A.S.C. Topic 825, “The Fair Value Option for Financial Issuances.”

NOTE G – WARRANTS:

No warrants were issued to employees for services. Stock options totaling 290,000 shares were issued to employees or service providers during the year ended April 30, 2024. As of April 30, 2024, a total of 11,812,708 stock options were vested. The computed fair value was $204,385. During the six months ended October 31, 2024, in connection with common stock issued or to be issued, the Company issued 2,574,603 warrants exercisable between $0.30 and $0.55 and lives of 2 years.

NOTE H – COMMITMENTS AND CONTINGENCIES

Operating Lease Commitments

Our executive offices are located in New York, NY. We have an agreement for use of office space at this location under a sublease which expired on July 31, 2018, and continues on a month-to-month basis thereafter. The monthly base rent is $6,000.

Rent expense was $18,000 and $18,000 for the three months period ending October 31, 2024 and 2023, respectively.

Employment and Consulting Agreements

The Company does not have employment agreements with any of its non-executive employees.

The Company has consulting agreements with outside contractors to provide marketing and financial advisory services. The agreements are generally for 12 months from inception and renewable automatically from year to year unless the Company or consultant terminates such engagement by written notice.

The Company entered into five-year employment agreements with its CEO, Anthony L Havens and Vice President of Operations, Sandra L Ahman. As part of their employment agreements, Mr. Havens received five year options to purchase 376,256 shares of the Company’s common stock at $0.308 per share. The options vest in three equal tranches over three years. Ms. Ahman received five year options to purchase 125,419 shares of the Company’s common stock at $0.308 per share. The options vest in three equal tranches over three years.

Litigation

The Company is subject to legal proceedings and claims arising in its business’s ordinary course. Sparta can make no representations about the potential outcome of such proceedings.

As of October 31, 2024, there is no pending litigation against Sparta and any and all prior litigation has been discontinued, settled or otherwise resolved with no liability whatsoever against Sparta.

NOTE I – SUBSEQUENT EVENTS

The Company had evaluated subsequent events for recognition and disclosure as of the date the financial statements were available to be issued.

Subsequent to October 31, 2024 the Company:

		●	Issued 1,496,451 shares valued at $232,000 to accredited investors related to equity investments.
		●	Converted 12,000 Series C preferred shares to 36,000 shares of common stock
		●	Converted 30,000 Series D preferred shares to 120,000 shares of common stock

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General

The following discussion of our financial condition and results of operations should be read in conjunction with (1) our interim unaudited condensed consolidated financial statements and their explanatory notes included as part of this quarterly Report and (2) our annual audited consolidated financial statements and explanatory notes for the year ended April 30, 2024, as disclosed in our annual Report on Form 10-K for that year as filed with the S.E.C.

“Forward-Looking” Information

This Report on Form 10-Q contains various statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Rule 175 promulgated thereunder, Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder which represent our expectations and beliefs, including, but not limited to statements concerning the Company’s business and financial plans and prospects and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements about our expectations, beliefs, plans, objectives, assumptions, future events, or performances are not historical facts and may be forward-looking. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” and other similar expressions can, but do not always, identify forward-looking statements, which speak only as of the date such statement was made. We base these forward-looking statements on our current expectations and projections about future events, our assumptions, and our knowledge of facts when the statements are made. These statements, by their nature, involve substantial risks and uncertainties, sure of which are beyond our control, and actual results may differ materially depending on various important factors. Risks and uncertainties that could cause our financial performance to differ materially from our goals, plans, expectations, and projections expressed in forward-looking statements include those outlined in our filings with the Securities and Exchange Commission (“S.E.C.”), including Item 1A of the Company’s Annual Report of Form 10-K for the year ended April 30, 2024. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events. It would be best to consider any forward-looking statements in light of this explanation, and we caution you about relying on them.

General Overview

Sparta’s roots are in the Powersports consumer finance industry. The Company provided retail installment loans and leases through authorized motorcycle dealerships in 33 states, with financing lines of credit provided by institutional lenders. The Company also created and maintained a full underwriting and servicing platform for its portfolio. The Company’s consumer loans and leases business was discontinued post the Lehman Brothers collapse during the 2008 financial crisis. In 2007, the Company introduced a new initiative, Municipal Financing, (www.spartamunicipal.com), which since inception and through the current date has provided financing for over 100 jurisdictions to date. Sparta’s Municipal Finance program is also currently available to all nonprofit organizations, institutions and entities. All nonprofit organizations which adhere to IRS guidelines, including 501 (c) 3 of the Internal Revenue Code, are eligible. Both public nonprofits, also known as public charities, supported with publicly collected funds, and private nonprofits, also known as private foundations, supported by an individual or business entity, qualify for the program.

Vehicle History Reports are a staple of Sparta’s E-Commerce Technology subsidiary iMobile Solutions, Inc. Whether a vehicle is intended for business or recreational use, Sparta’s Vehicle History Reports are highly regarded for accuracy and completeness and have been sold across all 50 states and in 62 countries worldwide. They provide a trusted layer of assurance to vehicle buyers and are available online and at a range of various dealership websites and showrooms. They include Cyclechex (Motorcycle History Reports at www.cyclechex.com), RVchex (Recreational Vehicle History Reports at www.rvchex.com), and Truckchex (Heavy Duty Truck History Reports at www.truckchex.com). Consumers, retailers, auction houses, banks and insurance companies alike scrutinize title history reports for the vital information needed and factored into crucial business decisions regarding the sale, purchase, lease, insuring of or other financial transactions on these assets.

The Company’s E-Commerce and Mobile Technology subsidiary, iMobile Solutions, Inc., provides mobile technology services, (www.imobileapp.com), including web and mobile application creation, development and management for a wide range of businesses to help them increase revenue, build brand recognition, and improve customer engagement. Our ever-broadening business base of mobile applications includes vehicle dealerships and racetracks, private clubs and country clubs, schools and entertainment venues, restaurants and grocery stores, as well as various other merchant types. (www.imobileapp.com/app-gallery). The Company also designs, launches, maintains and hosts websites for businesses incorporating SEO (search engine optimization), social media marketing, and online reviews to improve their presence online. We provide specific, tailored action plans for our clients’ websites that include services such as eCommerce, CRM (Customer Relationship Management) development and integration. This custom software not only helps businesses communicate with customers but can also be inward facing used for employees to communicate internally. The CRM software can be web based, integrated with a mobile app, or both. We work with clients to understand their unique needs and incorporate the features and requirements that are most important to them and will facilitate their business growth and success. Correspondingly, the Company designs and builds custom kitchen ordering software for independent grocery stores, delicatessens, and other customer-facing food service businesses. The software can be designed for use in a combination of ways including mobile devices and in-store ordering. The kitchen ordering software is enabled with payment integration, text messaging notification, wireless printing, and other features. iMobile Solutions, Inc. provides a turn-key solution for any business looking to simplify or streamline their kitchen ordering process. Additionally, we offer text messaging services, which supplement business marketing strategies both to gain and retain brand loyalty among its clients, customers and investors. Our text messaging platform allows our clients to easily manage, schedule and analyze text message performance.

Sparta created its subsidiary, New World Health Brands, Inc., in April 2019, on the heels of the Agriculture Improvement Act (also known as the Farm Bill), which was signed into law the previous December 20, 2018. Consequently, hemp (CBD) was removed from Schedule 1 of the Controlled Substances Act. Company management recognized the substantial business opportunity that lay ahead in the rapidly expanding hemp-CBD (cannabidiol) market in the United States. During 2019-2020, we sourced, developed and tested 5 CBD product categories totalling 31 products. We procured premium, domestic-grade, full-spectrum, broad-spectrum, and THC free hemp, created product packaging and labelling, and implemented fulfilment to launch an online B to C website in December of 2019. Effective March 31, 2023, management and the Board of Directors decided it was in the best interest of its shareholders to close its hemp-derived CBD product division based on the uncertainty of federal legalization that caused confusion and caution among distributors, retailers, and financial services companies in their efforts to embrace CBD and bring it to market.

In response to the onset of the COVID 19 pandemic in early 2020 Sparta quickly undertook a thorough investigation into evolving customer trends in health and wellness. As a result, we expanded New World Health Brands and developed a new product line of natural dietary supplements. In August 2020, we launched an online B to C website: www.newworldhealthbrands.com where we sell high-quality dietary supplements, including vitamins and minerals, such as, Iodine for children and adults, Boron, copper/Zinc/Selenium, , Magnesium, Spermidine, Vitamin B Complex, Vitamin C and PQQ. We continue to study the market as we consider new products to add to our offerings. To ensure the safety and quality of our products, all health and wellness offerings are exclusively sourced and manufactured in the United States and adhere to strict U.S standards and guidelines. Sparta’s commitment to high standards and transparency are tantamount to being a trusted brand.

In September 2020 the Company established Sparta Crypto, Inc., www.SpartaCrypto.com, which spawned both SpartaPayIQ, www.SpartaPayIQ.com, and Agoge Global, USA, www.AgogeGlobalUSA.com, (“Agoge”) which was formed in December 2022. Sparta Crypto is in the process of completing a proprietary state-of-the-art platform designed to connect users of widely adopted digital currencies with sellers of high-end goods and services. While the Company expects the platform to launch in early 2025, it can make no assurances that the described plan will reach implementation at that time. SpartaPayIQ was created as the cryptocurrency transactional engine payment gateway behind Sparta Crypto and Agoge. After undergoing extensive testing, the Company formally announced it had achieved the optimum functionality for launch on March 3, 2022.

Agoge entered into a Joint Venture Agreement with WeDev Group Ltda. and launched its new integrated Blockchain-based platform, EZBroker 360, that significantly improves and simplifies the ability of business to conduct international trade in the Brazilian market. The platform utilizes stablecoins and blockchain technology to decrease costs and improve the speed of these international transactions. Among Agoge’s suite of services is the offering of staged financing for freightage and taxation. Other services include industry introductions, Brazilian tax and regulatory compliance guidance, import and export documentation assistance, as well as reselling services in other jurisdictions and facilitation of cross-border transactions. After a significant investment of time and resources, the Agoge platform is now live and processing transactions for both U.S. and Brazilian corporations.

RESULTS OF OPERATIONS

Comparison of the three Months Ended October 31, 2024, and 2023

For the three months ended October 31, 2024, and 2023, we have generated limited sales revenues, incurred significant expenses, and sustained substantial operating losses.

Revenues

Revenues totaled $89,359 during the six months ending October 31, 2024, compared to $114,697 during the six months ending October 31, 2023. Revenues from information technology were down by $36,032 or 37%. This decrease was due primarily to a reduction in mobile application fees. Sales of New World Health Products were down by $5,444 or 6%, offset by an increase of $16,138 in merchant financing revenues.

Cost of Revenue

The revenue consists of costs and fees paid to third parties to construct and maintain mobile apps and payments for subscription services related to vehicle history reports and the cost of goods purchased for New World Health Brand products.

Operating Expenses

Operating expenses were $748,812 during the six months ended October 31, 2024, compared to $619,883 during the six months ended October 31, 2023, an increase of $128,929 or 21%. Expenses incurred during the current three months period consisted primarily of the following expenses:

	2024		2023		Increase (Decrease)			%
Compensation and related costs	$	388,196	$	299,792	$	88,404			29	%
Accounting, audit and professional fees		47,890		45,650		2,240			5	%
Consulting Fees		179,375		34,890		144,485			414	%
Rent and Utilities		36,000		36,000		-			0	%
General office expenses		97,351		203,551		(106,200	)		(52	)%
	$	748,812	$	619,883	$	128,929			21	%

Other (income) expense

During the six months ended October 31, 2024, other expense of $709,626 is comprised primarily of financing costs of $452,910 and a loss of the change in valuation of derivative liabilities of $278,704, offset by other commission income of $9,993. During the six months ended October 31, 2023, other income of $42,808 consisted of gains on the write off of convertible notes of $60,789, a gain on the change in fair value of our derivative liabilities of $173,373 and other commission income of $3,897, offset by financing costs of $284,867.

Net income (loss)

Our net loss attributable to common stockholders for the six months ended October 31, 2024, was $1,380,705 compared to a net loss of $575,734 for the six months ended October 31, 2023, primarily due to the change in valuation of derivative liabilities for this period as compared to three months ending October 31, 2023.

LIQUIDITY AND CAPITAL RESOURCES

As of October 31, 2024, we had an accumulated deficit of $68,176,055. The net cash flow used by operations was $1,000,863 for the six months ending October 31, 2024. This deficit results primarily from our net loss of $1,382,316 and increases in loans receivable related to Agoge Global USA, Inc. of $523,766, offset by non-cash expenses of $646,552 increases in accounts payable and accrued expenses of $258,183.

We met our cash requirements during the period through proceeds from the issuance of stock for a total of $547,500 and proceeds from notes payable of $400,000.

We anticipate minimal research and development expenditures or expect the sale or acquisition of any significant property, plant, or equipment during the next twelve months. On October 31, 2024, we had four full-time employees and three part-time employees. If we fully implement our business plan, our employment base may increase during the next twelve months. As we continue to expand, we will incur additional costs for personnel. This potential increase in personnel is dependent upon our generating increased revenues and obtaining sources of financing. We are still determining if we will successfully raise the necessary funds or generate revenues sufficient to fund the potential increase in the number of employees. A union does not represent our employees.

While we have raised capital to meet our working capital and financing needs in the past, additional financing is required to meet our current and potential future cash flow deficits from operations.

We continue to seek additional financing, whether in the form of senior debt, subordinated debt, or equity. We currently have no commitments for financing that are not at the investor’s election. There is no guarantee that we will successfully raise funds required to support our operations.

We will need approximately $1,000,000 in addition to our normal operating cash flow to conduct operations during the next twelve months. However, there can be no assurance that additional private or public financing, including debt or equity financing, will be available as needed or, if available, on terms favorable to us. Any additional equity financing may be dilutive to stockholders. Such additional equity securities may have rights, preferences, or privileges that are senior to those of our existing common or preferred stock. Furthermore, if available, debt financing will require the payment of interest. However, it may involve restrictive covenants limiting our operating flexibility if we cannot generate sufficient liquidity from operations or raise enough capital resources on acceptable terms. In that case, this could have a material adverse effect on our business, results of operations, liquidity, and financial condition. We must adjust our planned operations and development on a more limited scale.

The effect of inflation on our revenue and operating results was not significant. Our operations are located in North America, and no seasonal aspects would have a material impact on our financial condition or results of operations.

GOING CONCERN ISSUES

The Company’s historical losses and the lack of revenues raise substantial doubts about the Company’s ability to continue as a going concern. We cannot assure that our business operations will develop and provide us with significant cash to continue operations. If we cannot build our business, we have to discontinue operations or cease to exist, which would be detrimental to the value of the Company’s common stock.

To improve the Company’s liquidity, the Company’s management is actively pursuing additional financing through discussions with investment bankers, financial institutions, and private investors. There can be no assurance that the Company will be successful in its effort to secure additional financing.

We continue to experience net operating losses. Our ability to continue as a going concern is subject to our ability to develop profitable operations. We are devoting all our efforts to growing our business and raising capital. Our net operating losses increase the difficulty in meeting such goals, and there can be no assurance that such methods will prove successful.

The primary issues management will focus on in the immediate future include: seeking additional credit facilities from institutional lenders, institutional investors for debt or equity investments in our Company, short-term interim debt financing: and private placements of debt and equity securities with accredited investors.

To address these issues, we have engaged a financial advisory firm to advise and assist us in negotiating and raising capital.

INFLATION

The impact of inflation on the costs of the Company and the ability to pass on cost increases to its customers over time is dependent upon market conditions. The Company is not aware of any inflationary pressures that have had any significant impact on the Company’s operations over the past quarter, and the Company does not anticipate that inflationary factors will have a substantial effect on future operations.

OFF-BALANCE SHEET ARRANGEMENTS

The Company does not maintain off-balance sheet arrangements or participate in non-exchange traded contracts requiring fair value accounting treatment.

CRITICAL ACCOUNTING POLICIES

The preparation of our financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect our reported assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities. We base our estimates and judgments on historical experience and various other assumptions we believe to be reasonable under the circumstances. Future events, however, may differ markedly from our current expectations and assumptions. While several significant accounting policies affect our financial statements, the following critical accounting policy involves the most complex, difficult, and subjective estimates and judgments.

Revenue Recognition

During the first quarter of 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606), using the cumulative-effect method. The new standard requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The adoption did not impact our consolidated financial statements other than the enhancement of our disclosures related to our revenue-generating activities.

The Company acts as a principal in its revenue transactions as it is the primary obligor.

Revenues from mobile app products and New World Health Brands products are generally recognized upon delivery. Revenues from History Reports are generally recognized upon delivery/download. Prepayments received from customers before delivery (if any) are recognized as deferred revenue and recognized upon delivery. The Company records deferred revenues when cash payments are received or due before our performance, including refundable amounts.

Information Technology:

The Company recognizes revenue when the following criteria have been met:

	●	Persuasive evidence of an arrangement exists.
	●	No significant Company obligations remain.
	●	Collection of the related receivable is reasonably assured.
	●	The fees are fixed or determinable.

The Company acts as a principal in its revenue transactions as it is the primary obligor.

Revenues from mobile app products are generally recognized upon delivery. Revenues from History Reports are generally recognized upon delivery/download. Prepayments received from customers before delivery (if any) are recognized as deferred revenue and recognized upon delivery.

New World Health Brands:

Revenues from New World Health Brands products are generally recognized upon delivery.

Merchant Financing:

Revenues from merchant financing is recognized over the life of the contracts.

Stock-Based Compensation

The Company adopted Financial Accounting Standards Board Accounting Standard Codification Topic 718 (“ASC 718-10”), which records compensation expense on a straight-line basis, generally over the explicit service period of three to five years.

ASC 718-10 requires companies to estimate the fair value of share-based payment awards on the grant date using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the Company’s Consolidated Statement of Operations. The Company is using the Black-Scholes option-pricing model as its method of valuation for share-based awards. The Company’s determination of the fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding several highly complex and subjective variables. These variables include but are not limited to the Company’s expected stock price volatility over the awards term and other market variables, such as the risk-free interest rate.

Inventories

Inventory comprises finished goods for the Company’s New World Health Brands business. The Company’s inventories represent finished goods, consisting of products available for sale. They are accounted for using the first-in, first-out (FIFO) method and valued at the lower cost or net realizable value.

Convertible Instruments

ASC 815-40 provides that, among other things, generally, if an event is not within the entity’s control and could or require net cash settlement, then the contract shall be classified as an asset or a liability. The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards when “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based on the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company also records, when necessary, deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the underlying common stock’s fair value at the note transaction’s commitment date and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their earliest redemption date.

Derivative Liabilities

RECENT ACCOUNTING PRONOUNCEMENTS

For information regarding recent accounting pronouncements and their effect on the Company, see “Recent Accounting Pronouncements” in Note A of the Notes to Consolidated Financial Statements contained herein.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Exchange Act, that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Principal Financial Officer, as appropriate to allow timely decisions regarding required disclosure. Under the supervision and participation of our management, including our Chief Executive Officer and Principal Financial Officer, we evaluated the effectiveness of our disclosure controls and procedures as of October 31, 2024. Based on the evaluation of these disclosure controls and procedures and in light of the material weaknesses found in our internal controls, the Chief Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures were not effective.

Management Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) of the Exchange Act. Under the supervision and with the participation of our Chief Executive Officer and Principal Financial Officer, we evaluated the effectiveness of our internal control over financial reporting as of October 31, 2024, using the criteria established in the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness yet necessary enough to merit attention by those responsible for oversight of the Company’s financial reporting. In our assessment of the effectiveness of internal control over financial reporting as of October 31, 2024, we determined that control deficiencies existed that constituted material weaknesses, as described below:

● lack of documented policies and procedures;

● we have no audit committee;

● there is a risk of management override, given that our officers have a high degree of involvement in our day-to-day operations;

● there is no effective separation of duties, which includes monitoring controls, between the members of management.

Due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. As a result, we have been unable to improve our internal controls over financial reporting during the quarter ending October 31, 2024. However, to the extent possible, we will implement procedures to ensure that the initiation of transactions, the custody of assets, and the recording of transactions will be performed by separate individuals. Management is currently evaluating the steps to address these material weaknesses.

Accordingly, these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by our internal controls.

As a result of the material weaknesses described above, management has concluded that we did not maintain effective internal control over financial reporting as of October 31, 2024, based on criteria established in Internal Control Integrated Framework issued by COSO.

In light of these significant deficiencies, we performed additional analyses and procedures to conclude that our consolidated financial statements for the quarter ended October 31, 2024, included in this quarterly report on Form 10-Q, were fairly stated in accordance with U.S. GAAP. Accordingly, management believes that despite our significant deficiency, our consolidated financial statements for the three months ended October 31, 2024, are fairly stated, in all material respects, in accordance with U.S. GAAP.

This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to rules of the Securities and Exchange Commission that permit a smaller reporting company to provide only management’s report in its annual report.

Statement of Auditing Standards No. 100, Interim Financial Information (“SAS100”) requires a registrant to engage an independent accountant to review the registrant’s interim financial information. The financial statements included in this filing has not been subject to a review by its independent public accountant

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

ITEM 1A. RISK FACTORS

We are subject to certain risks and uncertainties in our business operations, including those described below. The risks and uncertainties described below are not the only risks we face. Additional risks and uncertainties not presently known or deemed immaterial may also impair our business operations. A description of factors that could materially affect our business, financial condition, or operating results was included in Item 1A, “Risk Factors,” of our Form 10-K for the year ended April 30, 2024, and is incorporated herein by reference.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Each issuance and sale of securities described below was deemed exempt from registration under the Securities Act in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended, as transactions by an issuer not involving a public offering. No advertising or general solicitation was employed in offering the securities. Each purchaser is a sophisticated investor (as described in Rule 506(b) (2) (ii) of Regulation D) or an accredited investor (as defined in Rule 501 of Regulation D). Each received adequate information about the Company or had access to such information, through employment or other relationships, to such information.

Sales of Preferred Stock, Common Stock, and Warrants:

During the six months that ended October 31, 2024 the Company:

	●	Issued 3,043,232 shares and 2,107,968 shares to be issued valued at $547,500 to accredited investors related to equity investments.
	●	Issued 153,956 shares valued at $55,016 for consulting services.
	●	579,847 shares of common stock to be issued as an incentive or penalty to noteholders valued at $42,890.
	●	Issued 850,000 shares of common stock valued at $85,000 upon the conversion of convertible notes

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 5. OTHER INFORMATION

Not applicable.

ITEM 6. EXHIBITS

The following exhibits are filed with this Report:

Exhibit No.		Description
31.1*		Certification of Chief Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a)
31.2*		Certification of Principal Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a)
32.1*		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350
101. I.N.S.*		Inline XBRL Instance Document
101. S.C.H.*		Inline XBRL Taxonomy Extension Schema
101. C.A.L.*		Inline XBRL Taxonomy Extension Calculation Linkbase
101. D.E.F.*		Inline XBRL Taxonomy Extension Definition Linkbase
101. L.A.B.*		Inline XBRL Taxonomy Extension Label Linkbase
101. P.R.E.*		Inline XBRL Taxonomy Extension Presentation Linkbase
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

*Filed herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

	SPARTA COMMERCIAL SERVICES, INC.

Date: December 23, 2024	By:	/s/ Anthony L. Havens
		Anthony L. Havens, Chief Executive Officer,
		Principal financial and accounting officer

EXHIBIT 31.1

CERTIFICATIONS

I, Anthony L. Havens, certify that:

1. I have reviewed this Report on Form 10-Q for the period ended October 31, 2024 of Sparta Commercial Services, Inc.;

2. Based on my knowledge, this Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report;

3. Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Report;

4. As the registrant’s sole certifying officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this Report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this Report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this Report based on such evaluation; and

(d) Disclosed in this Report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. As the registrant’s sole certifying officer, I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 23, 2024

	/s/ Anthony L. Havens
	Anthony L. Havens
	Chief Executive Officer, principal executive officer

EXHIBIT 31.2

CERTIFICATIONS

I, Anthony L. Havens, certify that:

1. I have reviewed this Report on Form 10-Q for the period ended October 31, 2024 of Sparta Commercial Services, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 23, 2024

	/s/ Anthony L. Havens
	Anthony L. Havens
	Principal financial and accounting officer

EXHIBIT 32.1

CERTIFICATION

PURSUANT TO 18 U.S.C. SECTION 1350

In connection with the Quarterly Report of Sparta Commercial Services, Inc. (the “Company”) on Form 10-Q for the period ended October 31, 2024, as filed with the Securities and Exchange Commission on the date therein specified (the “Report”), I, Anthony L. Havens, Chief Executive Officer and principal financial and accounting officer of the Company, do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended and

(2)	The information contained in the Report fairly presents, in all material respects, the financial conditions and results of operations of the Company.

Date: December 23, 2024

	/s/ Anthony L. Havens
	Anthony L. Havens, Chief Executive Officer,
	Principal executive officer, principal financial and accounting officer

Cover - shares	6 Months Ended
Cover - shares	Oct. 31, 2024	Dec. 23, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Oct. 31, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--04-30
Entity File Number	0-9483
Entity Registrant Name	SPARTA COMMERCIAL SERVICES, INC.
Entity Central Index Key	0000318299
Entity Tax Identification Number	30-0298178
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	555 Fifth Avenue
Entity Address, Address Line Two	14th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	(212)
Local Phone Number	239-2666
Title of 12(b) Security	Common stock, $.001 par value
Trading Symbol	SRCO
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,863,288

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Current Assets
Cash and cash equivalents	$ 93,840	$ 100,953
Accounts receivable	3,081	6,724
Inventory	6,163	3,004
Loans receivable	523,766
Total Current Assets	626,850	110,681
Deposits - rent deposit	9,000	9,000
Total assets	635,850	119,681
Current Liabilities
Accounts payable and accrued expenses	1,318,643	1,208,195
Short Term Loan	1,585	1,585
Current portion notes payable	7,485,493	7,168,481
Derivative liabilities	1,019,644	740,940
Total Current Liabilities	10,460,684	9,756,278
Notes payable- net of current portion	341,829
Total Long Term Liabilities	341,829
Total liabilities	10,802,513	9,756,278
Stockholders’ Deficit:
Common stock, $0.001 par value; 750,000,000 shares authorized, and 36,210,837 and 29,495,189 shares issued and outstanding as of October 31, 2024 and April 30, 2024, respectively	36,211	29,495
Common stock to be issued 33,490,238 and 33,395,883 as of October 31, 2024 and April 30, 2024, respectively	34,174	33,396
Additional paid-in-capital	56,592,040	55,870,123
Additional paid-in-capital- reserves	327,224	204,385
Accumulated deficit	(68,176,055)	(66,795,350)
Total deficiency in stockholders’ equity	(11,171,586)	(10,643,131)
Non-controlling interest	1,004,923	1,006,534
Total Deficit	(10,166,663)	(9,636,597)
Total Liabilities and Deficit	635,850	119,681
Series A Convertible Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock, value	12,500	12,500
Series C Redeemable Convertible Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock, value	1,919	1,919
Series D Redeemable Convertible Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock, value	401	401
Related Party [Member]
Current Liabilities
Loans payable-related parties	$ 635,319	$ 637,077

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Oct. 31, 2024	Apr. 30, 2024
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	36,210,837	29,495,189
Common stock, shares outstanding	36,210,837	29,495,189
Common stock to be issued	33,490,238	33,395,883
Series A Convertible Preferred Stock [Member]
Preferred stock, par value	$ 100	$ 100
Preferred stock, shares designated	35,850	35,850
Preferred stock, shares issued	125	125
Preferred stock, shares outstanding	125	125
Series C Redeemable Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	4,200,000	4,200,000
Preferred stock, shares issued	1,919,157	1,919,157
Preferred stock, shares outstanding	1,919,157	1,919,157
Preferred stock, liquidation and redemption value per share	$ 1	$ 1
Series D Redeemable Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares designated	2,000,000	2,000,000
Preferred stock, shares issued	400,877	400,877
Preferred stock, shares outstanding	400,877	400,877
Preferred stock, liquidation and redemption value per share	$ 1.00	$ 1.00

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Revenue
Total Revenue	$ 47,808	$ 52,418	$ 89,359	$ 114,697
Less Cost of goods sold	4,654	14,135	13,237	23,059
Gross profit	43,154	38,283	76,122	91,638
Operating expenses:
Compensation and related costs	174,066	138,697	388,196	299,792
Accounting and legal Fees	23,670	44,510	47,890	45,650
Consulting fees	105,315	14,400	179,375	34,890
Rent and lease	18,000	18,000	36,000	36,000
General office expenses	50,999	89,239	97,351	203,551
Total operating expenses	372,050	304,846	748,812	619,883
Loss from operations	(328,896)	(266,563)	(672,690)	(528,245)
Other (income) expense:
Commission on Municipal Bonds	(7,489)	(3,166)	(9,993)	(3,897)
Financing costs	207,976	144,481	452,910	284,867
Write off convertible notes		(21,364)		(60,789)
Loss (gain) in changes in fair value of derivative liability	(99,588)	(24,095)	278,704	(177,373)
Other income	(11,995)		(11,995)
Total other (income) expense	88,904	95,856	709,626	42,808
Net income (loss)	(417,800)	(362,419)	(1,382,316)	(571,053)
Net profit attibutable to minority shareholder	268	(1,972)	1,611	(4,681)
Preferred dividend
Net income (loss) attributed to common stockholders	$ (417,532)	$ (364,391)	$ (1,380,705)	$ (575,734)
Basic and diluted loss per share:
Income (Loss) from continuing operations attributable to Sparta Commercial Services, Inc. common stockholders, basic	$ (0.01)	$ (0.01)	$ (0.04)	$ (0.02)
Income (Loss) from continuing operations attributable to Sparta Commercial Services, Inc. common stockholders, diluted	(0.01)	(0.01)	(0.04)	(0.02)
Net loss attributable to Sparta Commercial Services, Inc. common stockholders, basic	(0.01)	(0.01)	(0.04)	(0.02)
Net loss attributable to Sparta Commercial Services, Inc. common stockholders, diluted	$ (0.01)	$ (0.01)	$ (0.04)	$ (0.02)
Weighted average shares outstanding, basic	35,388,095	24,323,456	32,872,509	24,323,456
Weighted average shares outstanding, diluted	35,388,095	24,323,456	32,872,509	24,323,456
Information Technology [Member]
Revenue
Total Revenue	$ 27,695	$ 42,875	$ 62,039	$ 98,071
Wellness Products [Member]
Revenue
Total Revenue	6,120	9,543	11,182	16,626
Merchant Financing [Member]
Revenue
Total Revenue	$ 13,993		$ 16,138

Condensed Consolidated Statements of Shareholder's Deficits - USD ($)	Series A Preferred Stock [Member] Preferred Stock [Member]	Series C Preferred Stock [Member] Preferred Stock [Member]	Series D Preferred Stock [Member] Preferred Stock [Member]	Common Stock [Member]	Common Stock to be Issued [Member]	Additional Paid in Capital (Reserves) [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance at Apr. 30, 2023	$ 12,500	$ 1,979	$ 938	$ 23,045	$ 23,705		$ 54,872,206	$ (66,150,857)	$ 969,295	$ (10,247,189)
Balance, shares at Apr. 30, 2023	125	1,979,157	937,701	23,045,205	23,704,788
Issuance of common shares for cash					$ 1,133		103,867			105,000
Issuance of common shares for cash, shares					1,132,910
Issuance of shares for services				$ 831	$ (831)		69,169			69,169
Issuance of shares for services, shares				830,906	(830,906)
Net loss								(211,343)	2,709	(208,634)
Stocks issued as a note holder incentive				$ 75			6,900			6,975
Stocks issued as a note holder incentive, shares				75,000
Balance at Jul. 31, 2023	$ 12,500	$ 1,979	$ 938	$ 23,951	$ 24,007		55,052,142	(66,362,200)	972,004	(10,274,679)
Balance, shares at Jul. 31, 2023	125	1,979,157	937,701	23,951,111	24,006,792
Balance at Apr. 30, 2023	$ 12,500	$ 1,979	$ 938	$ 23,045	$ 23,705		54,872,206	(66,150,857)	969,295	(10,247,189)
Balance, shares at Apr. 30, 2023	125	1,979,157	937,701	23,045,205	23,704,788
Net loss										(571,053)
Balance at Oct. 31, 2023	$ 12,500	$ 1,979	$ 938	$ 24,323	$ 24,702		55,149,603	(66,726,591)	973,976	(10,538,570)
Balance, shares at Oct. 31, 2023	125	1,979,157	937,701	24,323,106	24,701,797
Balance at Apr. 30, 2023	$ 12,500	$ 1,979	$ 938	$ 23,045	$ 23,705		54,872,206	(66,150,857)	969,295	(10,247,189)
Balance, shares at Apr. 30, 2023	125	1,979,157	937,701	23,045,205	23,704,788
Balance at Apr. 30, 2024	$ 12,500	$ 1,919	$ 401	$ 29,495	$ 33,396	204,385	55,870,123	(66,795,350)	1,006,534	(9,636,597)
Balance, shares at Apr. 30, 2024	125	1,919,157	400,877	29,495,189	33,395,883
Balance at Jul. 31, 2023	$ 12,500	$ 1,979	$ 938	$ 23,951	$ 24,007		55,052,142	(66,362,200)	972,004	(10,274,679)
Balance, shares at Jul. 31, 2023	125	1,979,157	937,701	23,951,111	24,006,792
Issuance of common shares for cash					$ 988		64,012			65,000
Issuance of common shares for cash, shares					988,000
Issuance of shares for services				$ 25			3,850			3,875
Issuance of shares for services, shares				25,000
Net loss								(364,391)	1,972	(362,419)
Stocks issued as a note holder incentive					$ 54		4,946			5,000
Stocks issued as a note holder incentive, shares					54,000
Stock issued for equity				$ 347	$ (347)		24,653			24,653
Stock issued for equity, shares				346,995	(346,995)
Balance at Oct. 31, 2023	$ 12,500	$ 1,979	$ 938	$ 24,323	$ 24,702		55,149,603	(66,726,591)	973,976	(10,538,570)
Balance, shares at Oct. 31, 2023	125	1,979,157	937,701	24,323,106	24,701,797
Balance at Apr. 30, 2024	$ 12,500	$ 1,919	$ 401	$ 29,495	$ 33,396	204,385	55,870,123	(66,795,350)	1,006,534	(9,636,597)
Balance, shares at Apr. 30, 2024	125	1,919,157	400,877	29,495,189	33,395,883
Subscribed shares issued				$ 408	$ (408)
Subscribed shares issued, shares				408,250	(408,250)
Issuance of common shares for cash				$ 1,972	$ 1,814		331,214			335,000
Issuance of common shares for cash, shares				1,971,673	1,813,590
Issuance of shares for services				$ 200			22,800			23,000
Issuance of shares for services, shares				200,000
Conversion of notes payable				$ 750			74,250			75,000
Conversion of notes payable, shares				750,000
Warrants issued on equity issuance						72,558				72,558
Commitment Shares not yet issued					$ 200		18,440			18,640
Commitment Shares not yet issued, shares					200,000
Net loss								(963,173)	(1,343)	(964,516)
Balance at Jul. 31, 2024	$ 12,500	$ 1,919	$ 401	$ 32,825	$ 35,002	276,943	56,316,827	(67,758,523)	1,005,191	(10,076,915)
Balance, shares at Jul. 31, 2024	125	1,919,157	400,877	32,825,112	35,001,223
Balance at Apr. 30, 2024	$ 12,500	$ 1,919	$ 401	$ 29,495	$ 33,396	204,385	55,870,123	(66,795,350)	1,006,534	(9,636,597)
Balance, shares at Apr. 30, 2024	125	1,919,157	400,877	29,495,189	33,395,883
Net loss										(1,382,316)
Balance at Oct. 31, 2024	$ 12,500	$ 1,919	$ 401	$ 36,211	$ 34,174	327,224	56,592,040	(68,176,055)	1,004,923	(10,166,663)
Balance, shares at Oct. 31, 2024	125	1,919,157	400,877	36,210,837	33,490,238
Balance at Jul. 31, 2024	$ 12,500	$ 1,919	$ 401	$ 32,825	$ 35,002	276,943	56,316,827	(67,758,523)	1,005,191	(10,076,915)
Balance, shares at Jul. 31, 2024	125	1,919,157	400,877	32,825,112	35,001,223
Subscribed shares issued				$ 2,827	$ (2,827)
Subscribed shares issued, shares				2,826,908	(2,826,908)
Issuance of common shares for cash				$ 50	$ 1,999		210,451			212,500
Issuance of common shares for cash, shares				50,014	1,315,923
Issuance of shares for services				$ 154			54,862			55,016
Issuance of shares for services, shares				153,956
Conversion of notes payable				$ 100			9,900			10,000
Conversion of notes payable, shares				100,000
Warrants issued on equity issuance						50,281				50,281
Net loss								(417,532)	(268)	(417,800)
Default shares issued				$ 255						255
Default shares issued, shares				254,847
Balance at Oct. 31, 2024	$ 12,500	$ 1,919	$ 401	$ 36,211	$ 34,174	$ 327,224	$ 56,592,040	$ (68,176,055)	$ 1,004,923	$ (10,166,663)
Balance, shares at Oct. 31, 2024	125	1,919,157	400,877	36,210,837	33,490,238

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income ( loss )	$ (1,382,316)	$ (571,053)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss (Gain) from change in fair value of derivative liabilities	278,704	(177,373)
Non-cash financing cost	270,937	284,867
Shares issued for services	78,016
Stocks issued as note holder incentive	18,895
Forgiveness of debt		(60,789)
Changes in operating assets and liabilities
Accounts receivable	3,643	(870)
Inventory	(3,159)	(2,022)
Loans receivable	(523,766)
Accounts payable and accrued expenses	258,183	87,425
Net cash used in operating activities	(1,000,863)	(439,815)
CASH FLOWS FROM INVESTING ACTIVITIES:
CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft		888
Proceeds from sale of stock	547,500	105,461
Stocks issued for equity		175,000
Net Proceeds from notes payable	448,008	159,000
Repayment of related party loans	(1,758)
Net cash provided by financing activities	993,750	440,349
Net (decrease) increase in cash	(7,113)	534
Cash and cash equivalents, beginning of period	100,953	4,028
Cash and cash equivalents , end of period	93,840	4,562
Cash paid for:
Interest
Income taxes

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Oct. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE A – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies applied in the preparation of the accompanying unaudited condensed consolidated financial statements follows.

Business

General Overview

Basis of Presentation

The results of operations for the three months ended October 31, 2024 are not necessarily indicative of the results to be expected for any other interim period or the full year ending April 30, 2025.

Principles of Consolidation

Estimates

Revenue Recognition

The Company acts as a principal in its revenue transactions as it is the primary obligor.

SCHEDULE OF DISAGGREGATION REVENUE

Revenue		October 31, 2024		July 31, 2024
	Three months ended
Revenue		October 31, 2024		July 31, 2024
Information technology	$	27,695	$	34,344
New World Health		6,120		5,062
Merchant financing		13,993		2,145
Total	$	47,808	$	41,551

Cash Equivalents

All liquid investments with three months or less maturity are cash equivalents for the accompanying financial statements.

Website Development Costs

Fair Value Measurements

	●	Level 1 — Quoted prices for identical instruments in active markets. Level 1 assets and liabilities include debt and equity securities, derivative contracts traded in an active exchange market, and certain highly liquid securities actively traded in over-the-counter markets.
	●	Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
	●	Level 3 — Unobservable inputs supported by little or no market activity and significant to the fair value measurements. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques based on significant unobservable inputs, as well as management judgments or estimates that are significant to the valuation.

Income Taxes

Stock-Based Compensation

Inventories

Concentrations of Credit Risk

Net Loss Per Share

Derivative Liabilities

Convertible Instruments

Reclassifications

Certain reclassifications have been made to conform with prior periods’ data to the current presentation. These reclassifications did not affect reported losses.

Recent Accounting Pronouncements-

No recent pronouncements have been made or adopted in the quarter ended October 31, 2024. All of the pronouncements that affect our business have been adopted.

GOING CONCERN MATTERS

6 Months Ended

Oct. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN MATTERS

NOTE B – GOING CONCERN MATTERS

NOTES PAYABLE AND DERIVATIVES

6 Months Ended

Oct. 31, 2024

Debt Disclosure [Abstract]

NOTES PAYABLE AND DERIVATIVES

NOTE C – NOTES PAYABLE AND DERIVATIVES

The Company has numerous outstanding notes payable to various parties. The notes bear interest at rates of 5% - 20% per year and are summarized as follows:

SCHEDULE OF NOTES PAYABLE

Notes Payable	October 31, 2024		April 30, 2024
Notes convertible at holder’s option	$	2,231,197	$	2,723,197
Notes convertible at Company’s option		335,700		335,700
Non-convertible notes payable		2,913,400		2,399,221
Accrued interest		2,005,196		1,710,363
Notes payable current		7,485,493		7,168,481
Add non-current portion		341,829		-
Total	$	7,827,322	$	7,168,481

The change in fair value of the derivative liabilities on October 31, 2024, was calculated with the following average assumptions using a binomial option pricing model are as follows:

Significant Assumptions:

Risk-free interest rate	4.28	%
Expected stock price volatility	125	%
Expected dividend payout	0
Expected life in years	1 Year

Changes in derivative liability during the three months ended October 31, 2024, and 2023 were: 1,019,644

	October 31,			October 31,
	2024			2023
Balance, beginning of year	$	1,119,232		$	1,375,767
Balance	$	1,119,232		$	1,375,767
Derivative liability extinguished		-			(100,797	)
Derivative financial liability arising on the issuance of convertible notes and warrants		-			-
Fair value adjustments		(99,588	)		(76,576	)
Balance, end of period	$	1,019,644		$	1,198,394
Balance	$	1,019,644		$	1,198,394

LOANS PAYABLE TO RELATED PARTIES

6 Months Ended

Oct. 31, 2024

LOANS PAYABLE TO RELATED PARTIES

NOTE D – LOANS PAYABLE TO RELATED PARTIES

EQUITY TRANSACTIONS

6 Months Ended

Oct. 31, 2024

Equity [Abstract]

EQUITY TRANSACTIONS

NOTE E – EQUITY TRANSACTIONS

Preferred Stock

Common Stock

During the six months ended October 31, 2024, the Company:

	●	Issued 3,043,232 shares and 2,107,968 shares to be issued valued at $547,500 to accredited investors related to equity investments.
	●	Issued 153,956 shares valued at $55,016 for consulting services.
	●	579,847 shares of common stock to be issued as an incentive or penalty to noteholders valued at $42,890.
	●	Issued 850,000 shares of common stock valued at $85,000 upon the conversion of convertible notes

During the six months ended October 31, 2023, the Company:

	●	Issued 1,178,251 shares valued at $95,000 to four accredited investors related to equity investments.
	●	Issued 25,000 shares valued at $3,875 for consulting services.
	●	Issued 75,000 shares of common stock as an incentive to noteholder valued at $6,975.
	●	Sold to five accredited investors 1,127,372 shares of common stock for cash of $85,000, actual shares were not issued yet and recorded as common stock to be issued.

FAIR VALUE MEASUREMENTS

6 Months Ended

Oct. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE F – FAIR VALUE MEASUREMENTS

Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

The table below summarizes the fair values of financial liabilities as of October 31, 2024:

	Fair Value at		Fair Value Measurement Using
	October 31, 2024		Level 1		Level 2		Level 3
Derivative liabilities	$	1,019,644	$	-	$	-	$	1,019,644

Fair values of financial liabilities as of April 30, 2024, are as follows:

	Fair Value at		Fair Value Measurement Using
	April 30, 2024		Level 1		Level 2		Level 3
Derivative liabilities	$	740,940	$	-	$	-	$	740,940

The following is a description of the valuation methodologies used for these items:

WARRANTS

6 Months Ended

Oct. 31, 2024

Warrants

WARRANTS

NOTE G – WARRANTS:

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Oct. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE H – COMMITMENTS AND CONTINGENCIES

Operating Lease Commitments

Rent expense was $18,000 and $18,000 for the three months period ending October 31, 2024 and 2023, respectively.

Employment and Consulting Agreements

The Company does not have employment agreements with any of its non-executive employees.

Litigation

The Company is subject to legal proceedings and claims arising in its business’s ordinary course. Sparta can make no representations about the potential outcome of such proceedings.

SUBSEQUENT EVENTS

6 Months Ended

Oct. 31, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE I – SUBSEQUENT EVENTS

The Company had evaluated subsequent events for recognition and disclosure as of the date the financial statements were available to be issued.

Subsequent to October 31, 2024 the Company:

		●	Issued 1,496,451 shares valued at $232,000 to accredited investors related to equity investments.
		●	Converted 12,000 Series C preferred shares to 36,000 shares of common stock
		●	Converted 30,000 Series D preferred shares to 120,000 shares of common stock

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Oct. 31, 2024

Accounting Policies [Abstract]

Business

Business

General Overview

Basis of Presentation

Basis of Presentation

The results of operations for the three months ended October 31, 2024 are not necessarily indicative of the results to be expected for any other interim period or the full year ending April 30, 2025.

Principles of Consolidation

Principles of Consolidation

Estimates

Estimates

Revenue Recognition

Revenue Recognition

The Company acts as a principal in its revenue transactions as it is the primary obligor.

SCHEDULE OF DISAGGREGATION REVENUE

Revenue		October 31, 2024		July 31, 2024
	Three months ended
Revenue		October 31, 2024		July 31, 2024
Information technology	$	27,695	$	34,344
New World Health		6,120		5,062
Merchant financing		13,993		2,145
Total	$	47,808	$	41,551

Cash Equivalents

Cash Equivalents

All liquid investments with three months or less maturity are cash equivalents for the accompanying financial statements.

Website Development Costs

Website Development Costs

Fair Value Measurements

Fair Value Measurements

	●	Level 1 — Quoted prices for identical instruments in active markets. Level 1 assets and liabilities include debt and equity securities, derivative contracts traded in an active exchange market, and certain highly liquid securities actively traded in over-the-counter markets.
	●	Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
	●	Level 3 — Unobservable inputs supported by little or no market activity and significant to the fair value measurements. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques based on significant unobservable inputs, as well as management judgments or estimates that are significant to the valuation.

Income Taxes

Income Taxes

Stock-Based Compensation

Stock-Based Compensation

Inventories

Inventories

Concentrations of Credit Risk

Concentrations of Credit Risk

Net Loss Per Share

Net Loss Per Share

Derivative Liabilities

Derivative Liabilities

Convertible Instruments

Convertible Instruments

Reclassifications

Reclassifications

Certain reclassifications have been made to conform with prior periods’ data to the current presentation. These reclassifications did not affect reported losses.

Recent Accounting Pronouncements

Recent Accounting Pronouncements-

No recent pronouncements have been made or adopted in the quarter ended October 31, 2024. All of the pronouncements that affect our business have been adopted.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Oct. 31, 2024

Accounting Policies [Abstract]

SCHEDULE OF DISAGGREGATION REVENUE

The Company acts as a principal in its revenue transactions as it is the primary obligor.

SCHEDULE OF DISAGGREGATION REVENUE

Revenue		October 31, 2024		July 31, 2024
	Three months ended
Revenue		October 31, 2024		July 31, 2024
Information technology	$	27,695	$	34,344
New World Health		6,120		5,062
Merchant financing		13,993		2,145
Total	$	47,808	$	41,551

NOTES PAYABLE AND DERIVATIVES (Tables)

6 Months Ended

Oct. 31, 2024

Debt Disclosure [Abstract]

SCHEDULE OF NOTES PAYABLE

The Company has numerous outstanding notes payable to various parties. The notes bear interest at rates of 5% - 20% per year and are summarized as follows:

SCHEDULE OF NOTES PAYABLE

Notes Payable	October 31, 2024		April 30, 2024
Notes convertible at holder’s option	$	2,231,197	$	2,723,197
Notes convertible at Company’s option		335,700		335,700
Non-convertible notes payable		2,913,400		2,399,221
Accrued interest		2,005,196		1,710,363
Notes payable current		7,485,493		7,168,481
Add non-current portion		341,829		-
Total	$	7,827,322	$	7,168,481

SCHEDULE OF DERIVATIVE LIABILITIES ASSUMPTIONS USING BINOMIAL OPTION

The change in fair value of the derivative liabilities on October 31, 2024, was calculated with the following average assumptions using a binomial option pricing model are as follows:

Significant Assumptions:

Risk-free interest rate	4.28	%
Expected stock price volatility	125	%
Expected dividend payout	0
Expected life in years	1 Year

SCHEDULE OF CHANGES IN DERIVATIVE LIABILITIES

Changes in derivative liability during the three months ended October 31, 2024, and 2023 were: 1,019,644

	October 31,			October 31,
	2024			2023
Balance, beginning of year	$	1,119,232		$	1,375,767
Balance	$	1,119,232		$	1,375,767
Derivative liability extinguished		-			(100,797	)
Derivative financial liability arising on the issuance of convertible notes and warrants		-			-
Fair value adjustments		(99,588	)		(76,576	)
Balance, end of period	$	1,019,644		$	1,198,394
Balance	$	1,019,644		$	1,198,394

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Oct. 31, 2024

Fair Value Disclosures [Abstract]

SCHEDULE OF FAIR VALUES OF FINANCIAL LIABILITIES

The table below summarizes the fair values of financial liabilities as of October 31, 2024:

	Fair Value at		Fair Value Measurement Using
	October 31, 2024		Level 1		Level 2		Level 3
Derivative liabilities	$	1,019,644	$	-	$	-	$	1,019,644

Fair values of financial liabilities as of April 30, 2024, are as follows:

	Fair Value at		Fair Value Measurement Using
	April 30, 2024		Level 1		Level 2		Level 3
Derivative liabilities	$	740,940	$	-	$	-	$	740,940

SCHEDULE OF DISAGGREGATION REVENUE (Details) - USD ($)	3 Months Ended			6 Months Ended
SCHEDULE OF DISAGGREGATION REVENUE (Details) - USD ($)	Oct. 31, 2024	Jul. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Product Information [Line Items]
Total	$ 47,808	$ 41,551	$ 52,418	$ 89,359	$ 114,697
Information Technology [Member]
Product Information [Line Items]
Total	27,695	34,344	42,875	62,039	98,071
New World Health [Member]
Product Information [Line Items]
Total	6,120	5,062
Merchant Financing [Member]
Product Information [Line Items]
Total	$ 13,993	$ 2,145		$ 16,138

GOING CONCERN MATTERS (Details Narrative) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 68,176,055	$ 66,795,350
Working capital deficit	$ 9,833,834

SCHEDULE OF NOTES PAYABLE (Details) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Short-Term Debt [Line Items]
Notes payable current	$ 7,485,493	$ 7,168,481
Add non-current portion	341,829
Total	7,827,322	7,168,481
Notes Convertible at Holder's Option [Member]
Short-Term Debt [Line Items]
Notes payable current	2,231,197	2,723,197
Notes Convertible at Company's Option [Member]
Short-Term Debt [Line Items]
Notes payable current	335,700	335,700
Non-convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Notes payable current	2,913,400	2,399,221
Accrued Interest [Member]
Short-Term Debt [Line Items]
Notes payable current	$ 2,005,196	$ 1,710,363

SCHEDULE OF DERIVATIVE LIABILITIES ASSUMPTIONS USING BINOMIAL OPTION (Details)	6 Months Ended
	Oct. 31, 2024
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input, expected dividend payout	4.28
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input, expected dividend payout	125
Measurement Input Dividend Payout [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input, expected dividend payout	0
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input, expected life	1 year

SCHEDULE OF CHANGES IN DERIVATIVE LIABILITIES (Details) - USD ($)	3 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Apr. 30, 2024
Debt Disclosure [Abstract]
Derivative liabilities current	$ 1,019,644		$ 740,940
Balance	1,119,232	$ 1,375,767
Derivative liability extinguished		(100,797)
Derivative financial liability arising on the issuance of convertible notes and warrants
Fair value adjustments	(99,588)	(76,576)
Balance	$ 1,019,644	$ 1,198,394

NOTES PAYABLE AND DERIVATIVES (Details Narrative)	6 Months Ended
NOTES PAYABLE AND DERIVATIVES (Details Narrative)	Oct. 31, 2024
Debt Instrument [Line Items]
Common stock discount rate, percentage	60.00%
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	5.00%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	20.00%

LOANS PAYABLE TO RELATED PARTIES (Details Narrative) - Officers, Directors, and Other Related Parties [Member] - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Related Party Transaction [Line Items]
Loans and notes payable	$ 635,319	$ 637,077
Minimum [Member]
Related Party Transaction [Line Items]
Interest rate	0.00%
Maximum [Member]
Related Party Transaction [Line Items]
Interest rate		12.00%

EQUITY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
EQUITY TRANSACTIONS (Details Narrative) - USD ($)	Oct. 31, 2024	Jul. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Oct. 31, 2024	Oct. 31, 2023	Apr. 30, 2024
Class of Stock [Line Items]
Preferred stock, shares designated	10,000,000				10,000,000		10,000,000
Preferred stock, par value	$ 0.001				$ 0.001		$ 0.001
Common stock, shares authorized	750,000,000				750,000,000		750,000,000
Common stock, par value	$ 0.001				$ 0.001		$ 0.001
Common stock, shares issued	36,210,837				36,210,837		29,495,189
Common stock, shares outstanding	36,210,837				36,210,837		29,495,189
Common classified to be issued	33,490,238				33,490,238		33,395,883
Number of shares issued during period, value	$ 212,500	$ 335,000	$ 65,000	$ 105,000
Number of shares issued services, value	55,016	23,000	3,875	69,169
Number of shares issued convertible securities, value	$ 10,000	$ 75,000
Incentive Noteholders [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares						75,000
Number of shares issued during period, value						$ 6,975
Convertible Notes [Member]
Class of Stock [Line Items]
Number of shares issued convertible securities, shares					850,000
Number of shares issued convertible securities, value					$ 85,000
Consulting Services [Member]
Class of Stock [Line Items]
Number of shares issued services, shares					153,956	25,000
Number of shares issued services, value					$ 55,016	$ 3,875
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares	50,014	1,971,673
Number of shares issued during period, value	$ 50	$ 1,972
Number of shares issued services, shares	153,956	200,000	25,000	830,906
Number of shares issued services, value	$ 154	$ 200	$ 25	$ 831
Number of shares issued convertible securities, shares	100,000	750,000
Number of shares issued convertible securities, value	$ 100	$ 750
Common Stock to be Issued [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares	1,315,923	1,813,590	988,000	1,132,910
Number of shares issued during period, value	$ 1,999	$ 1,814	$ 988	$ 1,133
Number of shares issued services, shares				(830,906)
Number of shares issued services, value				$ (831)
Number of shares issued convertible securities, value
Accredited Investors [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares					3,043,232
Number of shares to be issued during period, shares					2,107,968
Number of shares issued during period, value					$ 547,500
Incentive Noteholders [Member] \| Common Stock to be Issued [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares					579,847
Number of shares issued during period, value					$ 42,890
Four Accredited Investors [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares						1,178,251
Number of shares issued during period, value						$ 95,000
Five Accredited Investors [Member] \| Common Stock to be Issued [Member]
Class of Stock [Line Items]
Number of shares issued during period, shares						1,127,372
Number of shares issued during period, value						$ 85,000
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares designated	35,850				35,850		35,850
Preferred stock, par value	$ 100				$ 100		$ 100
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares designated	1,000				1,000
Liquidation value	$ 10,000				$ 10,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares designated	4,200,000				4,200,000
Liquidation value per share	$ 1.00				$ 1.00
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares designated	2,000,000				2,000,000
Liquidation value per share	$ 1				$ 1

SCHEDULE OF FAIR VALUES OF FINANCIAL LIABILITIES (Details) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 1,019,644	$ 740,940
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ 1,019,644	$ 740,940

WARRANTS (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
WARRANTS (Details Narrative) - USD ($)	Oct. 31, 2024	Apr. 30, 2024
Options vested		11,812,708
Fair value adjustment of warrants		$ 204,385
Warrants and rights outstanding, term	2 years
Minimum [Member]
Warrants exercisable, per share	$ 0.30
Maximum [Member]
Warrants exercisable, per share	$ 0.55
Warrant [Member]
Number of shares issued warrants exercisable, shares	2,574,603
Employees [Member]
Options issued for service provided		290,000

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024
Property, Plant and Equipment [Line Items]
Rent expense	$ 18,000	$ 18,000
Employment Agreement [Member] \| Mr. Havens [Member]
Property, Plant and Equipment [Line Items]
Options term			5 years
Shares issuable upon option exercise			376,256
Share price per share	$ 0.308		$ 0.308
Options vesting period			3 years
Employment Agreement [Member] \| Ms. Ahman [Member]
Property, Plant and Equipment [Line Items]
Options term			5 years
Shares issuable upon option exercise			125,419
Share price per share	$ 0.308		$ 0.308
Options vesting period			3 years
Executive Office Space [Member]
Property, Plant and Equipment [Line Items]
Lease expiring date			Jul. 31, 2018
Rent expense			$ 6,000

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	Nov. 01, 2024 USD ($) shares
Subsequent Event [Line Items]
Number of shares issued	1,496,451
Investors related to equity investments \| $	$ 232,000
Series C Preferred Stock [Member]
Subsequent Event [Line Items]
Conversion of notes payable, shares	12,000
Converted shares	36,000
Series D Preferred Stock [Member]
Subsequent Event [Line Items]
Conversion of notes payable, shares	30,000
Converted shares	120,000

Sparta Commercial Services (PK) (USOTC:SRCO)
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