MrSmith101
6 hours ago
“As of December 31, 2024, we had an accumulated deficit of $44.4 million, working capital deficiency of $9.1 million and total liabilities in excess of total assets of $7.5 million. These matters raise substantial doubt about our ability to continue.”
Declaes is right, the growth is huge of the deficit and this company needs 3.8 million to survive the year. If you are new here do not trust him, he clearly is doing the bidding of Leon as he gave away that he knew the report was being released but refuses to share what they discuss.
loanshark007
11 hours ago
Operating loss
The operating loss was $1,333,129 and $541,920 for the years ended December 31, 2024 and 2023, respectively, an increase in loss of $791,209 or 146.0%. The increase in loss is due to the increase in operating expenses of $1,463,437, discussed in detail above, offset by the increase in revenue of $672,228, discussed in detail above.
Interest expense
Interest expense was $565,343 and $500,226 for the years ended December 31, 2024 and 2023, respectively, an increase of $65,117 or 13.0%, primarily due to the increase in short term note funding of $1,912,000 less repayments of $752,680, the additional funds were raised to fund the acquisition of Boca Cove Detox and for general working capital purposes.
loanshark007
3 days ago
Wasn't on time and they are currently suspended.
Sparta Capital receives cease trade order from ASC
2025-02-26 11:27 ET - News Release
Mr. Tony Peticca reports
SPARTA CAPITAL ANNOUNCES ISSUANCE OF CEASE TRADE ORDER
Sparta Capital Ltd. is under a failure-to-file cease trade order (FFCTO) issued by the Alberta Securities Commission (ASC) because the company was unable to file its annual financial statements for the year ended Sept. 30, 2024, including the related management's discussion and analysis as well as certifications from the chief executive officer and chief financial officer, in time to meet the Jan. 29, 2025, filing deadline.
The FFCTO restricts all trading in securities of the company and is in effect until the principal regulator receives notice that all filings the issuer was required to make have been filed. The company expects to file the annual filings before the second quarter of 2025.
Sparta management has indicated that the delay in filing the annual filings is related to an overload of primary work for both Sparta and its auditor. The company is working diligently with its audit team to complete the required work to finalize and file the annual filings, which will allow for the lifting of the FFCTO.
Until the annual filings are filed, the company intends to satisfy the provisions of the alternative information guidelines set out in National Policy 12-203 -- Cease Trade Orders.
About Sparta Capital Ltd.
Sparta Capital is a technology-based company focused on integrating emerging technologies. It operates with a decentralized business model, with each active business functioning as a separate subsidiary. Sparta's business entities fall into three different divisions:
Environment -- ERS International is a waste management operation with its state-of-the-art, proprietary e-waste processing technologies. ERS is dedicated to continuous innovation, as well as increased sustainability and security for both the company and its customers. It offers a unique carbon credit program and has attracted significant attention from companies that deal with big data and the need to reduce their carbon footprints. ERS has operations in Canada, the Middle East and South America.
Health -- Sparta Health Corp. is a vertical harnessing the power of artificial intelligence (AI), machine learning (ML) and augmented reality (AR) to develop technologies that enhance personalized patient care and improve treatment outcomes.
Transportation -- TruckSuite is a comprehensive suite of products and services designed to keep trucks operational and drivers competitive. TruckSuite believes its offerings can play a pivotal role in enhancing the logistics and transportation industry.
loanshark007
3 days ago
Lol, sparta capital ltd. Do some DD on that one LMAO.
Q1 Highlights
Phase two of the nanotechnology testing begins in Sweden
Sparta's Environment division (ERS) continues to expand the Carbon Credit Program gaining clients in multiple industry sectors.
Over the next few months, Sparta will focus on the further expansion of the carbon credit program, including onboarding new customers from market verticals beyond Bitcoin. As well, they hope to release data from nanotechnology testing, which will pave the way for the NeoSort system to improve waste management with precision.
The Alberta Securities Commission (the "ASC"), as the principal regulator of the Company, issued a failure-to-file cease trade order (the "FFCTO") against the Company under Multilateral Instrument 11-103 - Failure-To-File Cease Trade Orders in Multiple Jurisdictions, prohibiting the trading in or the purchasing of any securities of the Company by any person or company in Canada, including trades in the Company's shares made through the TSX Venture Exchange, except in accordance with the following conditions for so long as the FFCTO order remains in effect: a beneficial security holder of the Company who is not, and was not at the date of the FFCTO an insider or control person of the Company, may sell securities of the Company acquired before the date of February 3, 2025 if both of the following apply: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.