One Step Ahead

[want2b2rich]

Kimberlite, I believe there was a couple of dates mentioned 9/27 (record date) and 10/07 (split date) . I am stuck as well and debating if I should sell or hold. Any advise?



SEC Filing - AGRD - Reverse Split

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D04%2D014616%2Etxt&FilePath....

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.



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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.