PROSPER, Texas, June 5, 2006 (PRIMEZONE) -- Brian Dean, Publisher of OTCPicks.com, announced today that the website has initiated Profile Coverage of Terrace Ventures Inc. (OTCBB:TVEN) (which will be known as Sporg Technology Corporation pending final merger approval and closing). Sporg (www.sporg.com) is an innovative developer and provider of online software that allows any organization to take complete control over their registration, donation collection and pledging programs.
To view the OTCPicks.com Company Profile for Terrace, please visit: http://www.otcpicks.com/
About Sporg Online Registrations Solutions
Sporg (www.sporg.com) is an innovative developer and provider of online software that allows any organization to take complete control over their registration, donation collection and pledging programs.
Sporg's revenue model is transaction and service oriented, similar to the model utilized by eBay. Revenues are natural and recurring, provided by ongoing registrations and donations taking place throughout the year, with annual or repeating registrations being the norm. Specifically, Sporg charges a yearly system access fee to client organizations to enable registration, donation and transaction processing using the Sporg engine. Additionally, Sporg takes a small percentage of each transaction processed through the Sporg system (this transaction revenue model is similar to those utilized by credit card companies).
Sporg's enterprise grade technology and their key business relationship with Cardservice International (a wholly owned subsidiary of First Data Corporation) allows Sporg's clients to accept online payments for merchandise, a unique offering in the registration and donation market segment.
About OTCPicks.com
OTCPicks.com is an Internet destination for investors seeking information on smallcap and microcap companies. The web site features companies in Profile Campaigns, Executive Interviews and Research Reports authored by our financial writers. We publish our Daily Market Movers Digest Newsletter to opt-in investor members. This is also sent out on the M2 Presswire several times daily highlighting hot OTC and OTCBB stocks. To feature a company on OTCPicks.com, please contact our publisher, Brian Dean at 972-546-3740, or via email at publisher@otcpicks.com.
This Press Release may contain, in addition to historical information, forward-looking statements. These forward looking statements are based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular there is no assurance that the Merger will be completed, the private placement described above will be completed or that the Company will receive a financing proposal as described above. Generally, there is no assurance that the conditions of the Merger will be satisfied or waived.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
Disclosure: OTCPicks.com has been compensated up to ten thousand dollars by a third party for TVEN advertising and promotional service. OTCPicks.com is not a registered investment adviser or broker/dealer. OTCPicks.com makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market their securities, investing in such securities is highly speculative and carries a high degree of risk.