On or around September 8, 2006, as a direct result of the company's
reorganization effort and in a constant effort to remain in compliance
MJ Shaheed, President, CEO and Chairman of the Board of the corporation
completed the retention of services process with Securities Counsel
Joseph I. Emas as well as the accounting firm of Frank Kapitza
& Associates to satisfy the preliminary documentation prior
to the review and signature of Malone and Bailey, PC. In addition,
the management has determined that the name of company should
be reflective of the new broad based capital structure and its
designation as a holding company therefore; the name of the corporation
AuGRID Global Holdings Corporation more accurately reflects the
Company's operations and future intentions. The company's Articles
of Incorporation have been amended to reflect the changes. Over
the past several months, the corporation has reviewed and accepted
the resignation of board member Essa Mashni and in accordance
with the bylaws of the corporation named Sandra Salim to the Board
of Directors to fill the vacancy.
Forward Looking Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The statements regarding AuGRID Corporation in this release
that are not historical in nature, particularly those that utilize
terminology such as ``may,'' ``should,'' ``likely,'' ``expects,''
``anticipates,'' ``estimates,'' ``believes'' or ``plans,'' or
comparable terminology, are forward-looking statements based on
current expectations about future events, which AuGRID Corporation
has derived from the information currently available to it. These
forward-looking statements involve known and unknown risks and
uncertainties that may cause our results to be materially different
from results implied in such forward-looking statements. Important
factors
known to AuGRID Corporation that could cause forward-looking statements
to turn out to be incorrect are identified and discussed from
time to time in AuGRID Corporation's filings with the Securities
and Exchange Commission. The forward-looking statements contained
in this release speak only as of the date hereof, and AuGRID Corporation
undertakes no obligation to correct or update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact:
AuGRID Corporation Staff
(856) 205-0856
Source: AuGRID Corporation
