Sparta Commercial converts $200K insider debt to stock options; CEO, VP, Director receive 1.87M shares

SPARTA COMMERCIAL SERVICES, INC.

CEO Anthony Havens converts $100K deferred salary for options to purchase 934,579 shares at $0.107 strike.
VP Sandra Ahman converts $50K deferred salary for 467,290 options; Director Kristian Srb converts $50K debt for 467,290 options.
Options vest immediately, have five-year term; exercise price is 110% of 30-day VWAP ($0.107).
Issuance exempt under Section 4(a)(2) of Securities Act as private placement to insiders.

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