AGRD, those sneaky R/S'in ##### pre-14
They didn't list the 1:100 R/S as part of the meeting, they snuck it in under "Other Events" this is why you must do a R/S check on all these documents and not just in the normal area's.. Sometimes they sneak them in a Q filing.. Its not a vote, they set a date..
OTHER EVENTS
In a written action without a meeting, the Board of Directors (the "Board") of
AuGRID Corporation (the "Company") has unanimously approved on August 19, 2004 a
one-to-one hundred (1:100) split of the Company's outstanding common stock (a
reverse split). The Board deemed the reverse split to be advisable in order to
attract the additional equity funding that the Company needs to continue
operations.
A majority of the Company's stockholders, acting by written consent, has adopted
the reverse split approved by the Board. The record date for the split will be
September 27, 2004, and the effective date of the split will be October 7, 2004.
The transfer agent for the Company's common and preferred stock, Signature Stock
Transfer, Inc., will contact each stockholder after the effective date with
instructions regarding the exchange of old shares certificates for new shares
certificates reflecting the split.
As a result of the reverse split, each one hundred (100) shares of the Company's
common stock prior to the split will be represented by one (1) new share of the
Company's common stock after the split. Market reaction cannot be predicted with
any degree of certainty, and thus it cannot be known what effect the split will
have on the price per share of the Company's common stock.
The authorized capital stock of the Company will be unaffected by the reverse
split and will continue to consist of 1,960,000,000 shares of common stock and
40,000,000 shares of preferred stock, classes A and B. This should ensure
availability to the Company of adequate shares for use in equity fundings and
business combinations. However, although the Company is actively engaged in
discussions relating to funding and mergers, there is in place no definitive
agreement with any third party with respect to an investment in the Company or a
merger.
Shares of the Company's common stock trade on the Over-the-Counter Bulletin
Board ("OTCBB") under the symbol "AGRD." On September 16, 2004, the National
Association of Securities Dealers, Inc. and the OTCBB were notified of the
impending reverse stock split and its effective date.
SECURITY OWNERSHIP OF CERTAIN
BENEFICIAL OWNERS AND MANAGEMENT
CERTAIN BENEFICIAL OWNERS
The Company Common Stock is the only outstanding class of equity security of the
Company. Ownership as of August 10, 2004 of AuGRID Common Stock (to the
Company's knowledge), by beneficial holders of more than five percent of the
Company Common Stock, is as follows:
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