Sparta Commercial Services (OTC BB:SRCO) reported that, as a result of the growing interest among local and state governmental agencies, the Company is intensifying its marketing efforts in support of its Municipal Lease Product. With the recent addition of more cities and towns to Sparta’s roster of municipalities under contract for the leasing of vehicles and other equipment, and the rapidly growing number of inquiries from other agencies around the country, the Company believes that refocusing additional resources to its marketing activity is essential.
According to the Company, their Municipal Lease Program is an ideal alternative to the traditional outright purchase of the police cars, police motorcycles and other essential equipment that these agencies require, especially during these difficult economic times. More than 17,000 state and local law enforcement agencies operating in the United States will purchase 65,000 police cars each year, creating over 1.6 billion dollars in annual sales. These agencies will also purchase over 60,000 police motorcycles during the next five years, creating an additional 1 billion dollars in sales over that time period. Sparta’s current goal is to capture a minimum of one percent of the estimated market for these vehicles, representing about 18 million dollars worth of annual municipal lease fundings.
These figures do not take into account other essential equipment that Sparta includes in its Municipal Lease Purchase Financing Program, such as the on-board digital video and data equipment used on these vehicles. Sparta is currently working with major national suppliers of these assets to provide financing for these ancillary products as well.
Medicis (NYSE:MRX) today announced that the Company is scheduled to present at the Roth 22nd Annual OC Growth Stock Conference in Laguna Niguel, California. A live webcast of its presentation scheduled for Tuesday, March 16, 2010, at 2:00 p.m. Eastern Time (11:00 a.m. Pacific Time), may be accessed via the Internet.
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