Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Sparta Commercial Services, Inc.
(Name of Issuer)
Common Stock, no par value $.001 per share
(Title of Class of Securities)
846S7R 20 9
(CUSIP Number)
Anthony Havens
462 Seventh Avenue, 20th Floor
New York, New York 10018
(212) 239-2666
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
July 20, 2007
(Date of Event, Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is subject of this 13D, and is filing this schedule because
of Rule 13-d-1(e), 13(d)-1(f) or 13d-1(g), check the following box. |_|
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which could alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Leo William Long
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_| (b) |_|
Not applicable
3. SEC USE ONLY
4. SOURCE OF FUNDS* PF
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
Not applicable
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF 7. SOLE VOTING POWER 10,902,730
SHARES
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY EACH
REPORTING 9. SOLE DISPOSITIVE POWER 10,902,730
PERSON WITH
10. SHARED DISPOSITIVE POWER 0
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,902,730
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.85%
14. TYPE OF REPORTING PERSON*
In
ITEM 1. Security and Issuer.
This Schedule 13D relates to the common stock, par value $.001 per
share (the "Common Stock") issued by Sparta Commercial Services, Inc., a Nevada
corporation (the "Issuer"), whose principal executive offices are located at 462
Seventh Avenue, 20th Floor, New York, New York 10018.
ITEM 2. Identity and Background.
This statement is filed by Leo Long, ("The Reporting Person") whose
address is c/o Long Motor Corp. 14600 W 107th Street, Lenexa, KS 66215-4015. The
Reporting Person is the president and CEO of Long Motor Corp.
The Reporting Person has not, during the last five (5) years (i)
been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violations with respect to such laws.
ITEM 3. Source and Amount of Funds or Other Considerations.
The consideration for the issuance of the 10,902,730 common shares
to the Reporting Person is from personal funds invested in the amount of $
2,354,475.00.
ITEM 4. Purpose of Transaction
The purpose of the transaction is for investment.
ITEM 5. Interest in Securities of the Issuer.
As of the date of the Reporting Event, the Reporting Person
beneficially owned 10,902,730 shares of the Issuer's stock, comprising
approximately 8.85% of the common stock outstanding. The percentage used herein
was calculated based upon the 123,216,157 shares of Common Stock of the Issuer
stated by the Issuer as issued and outstanding as of the date of the Reporting
Event. The Reporting Person has sole voting and dispositive powers with respect
to 10,902,730 shares of Common Stock which he owns. The Reporting Person did not
effect other transactions in the shares of the Common Stock.
ITEM 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
N/A
ITEM 7. Material to be Filed as Exhibits.
N/A
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: July 20, 2007
/s/ Leo Long
- -------------------------------------
Leo Long