<PAGE>
                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  FORM 10-QSB/A
                                (Amendment No. 1)

(Mark One)

[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
     Act of 1934

For the quarterly period ended: September 30, 2001

Or

[ ]  Transition Report Pursuant to Section 13 or 15(d) of the Securities
     Exchange Act of 1934

For the transition period from ____________ to _____________

Commission File Number:             000-28661

                             AUGRID OF NEVADA, INC.
             (Exact name of registrant as specified in its charter)

               Nevada                                   88-0219656
(State or other jurisdiction of            (I.R.S. Employer Identification No.
incorporation or organization)

                  2275 East 55th Street, Cleveland, Ohio 44103
                    (Address of Principal Executive Offices)

                                  216.426.1589
                (Issuer's Telephone Number, including Area Code)

     The Park Building, 140 Public Square, Suite 200, Cleveland, Ohio 44114
                    (Former name, former address and former
                   fiscal year, if changed since last report)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

Yes [X]        No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 64,364,720 shares of common stock at
March 28, 2002.

Transitional Small Business Disclosure Format (check one):

Yes [ ]        No [X]

                                 AMENDMENT NO. 1

This Amendment No. 1 to the Quarterly Report on Form 10-QSB for the fiscal
quarter ended September 30, 2001 is being filed to amend Part I, Item 1, to
revise the financial statements included in the Form 10-QSB as previously filed.


<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1            FINANCIAL STATEMENTS

                           ACCOUNTANT'S REVIEW REPORT

To the Board of Directors and Stockholders
AuGRID OF NEVADA, INC.
2275 East 55th Street
Cleveland, Ohio 44103

I have reviewed the accompanying balance sheet of AuGRID OF NEVADA, INC. (A
Development Stage Corporation) as of September 30, 2001, and the related
statement of income, retained earnings and cash flows for the nine month period
ended September 30, 2001, in accordance with Statements on Standards for
Accounting and Review Services issued by the American Institute of Certified
Public Accountants. All information included in this financial statement is the
representation of the management of the AuGRID OF NEVADA, INC.

A review consists principally of inquires of Company personnel and analytical
procedures applied to financial data. It is substantially less in scope than an
audit in accordance with generally accepted auditing standards, the objective of
which is the expression of an opinion regarding the financial statements taken
as a whole. Accordingly, I do not express such an opinion.

As discussed in note 1, the Company has a going concern problem. Without
realization of additional capital and source of revenue, it would be unlikely
for the Company to continue as a going concern.

As discussed in note 5, the Company is currently involved in litigation. The
ultimate outcome of the litigation cannot presently be determined and no
provision for any liability that may result has been made in the accompanying
financial statement.

Based on my reviews, I am not aware of any material modifications that should be
made to the accompanying financial statements in order for them to be in
conformity with generally accepted accounting principles.

Henry L. Creel & Co., Inc.

November 12, 2001
Revised March 26, 2002











<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                                  Balance Sheet
                                  -------------
                            As of September 30, 2001
                            ------------------------
<CAPTION>
<TABLE>
<S>                                                                                  <C>
                                                      ASSETS
                                                      ------

CURRENT ASSETS
--------------
    Cash                                                                             $     8,038
                                                                                     -----------
         Total Current Assets                                                              8,039

PROPERTY AND EQUIPMENT (NOTE 1)
-------------------------------

    Machinery And Equipment                                                               68,080
    Furniture And Fixtures                                                                 7,686
    Office Equipment                                                                      14,176
                                                                                     -----------
         Total Property At Cost                                                           89,941

    Less:  Accumulated Depreciation
           and Amortization                                                              ( 9,418)
                                                                                     -----------
    Net Property and Equipment                                                            80,524
                                                                                     -----------

OTHER ASSETS
------------

    Licensing Agreement ( Note 4)                                                      1,687,907
         Less Amortization                                                              (583,247)
                                                                                     -----------
    Net Licensing Agreement                                                            1,104,660
                                                                                     -----------
    Deposits Building Construction                                                        21,341

         Total Other Assets                                                            1,126,001
                                                                                     -----------

TOTAL ASSETS                                                                         $ 1,214,563
                                                                                     ===========
</TABLE>





                         See Accountant's Review Report.


<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                                  Balance Sheet
                                  -------------
                            As of September 30, 2001
                            ------------------------
<TABLE>
<CAPTION>
<S>                                                                               <C>
                                       LIABILITIES AND STOCKHOLDERS' EQUITY
                                       ------------------------------------

CURRENT LIABILITIES
-------------------

    Account Payable - Trade                                                       $       63,945
                                                                                  --------------
         Total Current Liabilities                                                        63,945

LONG-TERM DEBT (NOTE 6)
-----------------------

    Notes Payable                                                                       299,700
                                                                                 ---------------

         Total Long-Term Debt                                                            299,700
                                                                                  --------------
    Total Liabilities                                                                    363,645

STOCKHOLDERS' EQUITY (NOTE 3)
-----------------------------

       Preferred Stock $ 0.001 par value 10,000,000 shares
       authorized and 317,500 shares issued and outstanding                                  318

       Common stock- with $0.001 par value 90,000,000 shares
       authorized; shares outstanding,
       September 30, 2001 - 62,080,552
       December 31, 2000 - 58,268,469
       December 31, 1999 - 49,889,348
       December 31, 1998 - 46,629,414                                                     62,081
    Additional paid in capital                                                         3,783,576
                                                                                  --------------
    Deficit accumulated during the development stage                                 ( 2,995,057)
                                                                                  --------------
    Total Stockholders' Equity                                                           850,918
                                                                                  --------------
TOTAL LIABILITIES AND
    STOCKHOLDERS' EQUITY                                                           $   1,214,563
                                                                                   =============
</TABLE>


                         See Accountant's Review Report.



<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                               Statement of Income
                               -------------------
               For the Nine Month Period Ended September 30, 2001
               --------------------------------------------------
<TABLE>
<CAPTION>


<S>                                                                                <C>        <C>
    Net Sales (Note 1)                                                                $         -0-
                                                                                      -------------
       Total Revenue                                                                            -0-
                                                                                      -------------
Expenses

    Consultants                                                                              34,278
    Secretarial Services                                                                      1,100
    Public Relations                                                                         12,200
    Auto Expense                                                                             11,925
    Insurance                                                                                   916
    Rent                                                                                      3,011
    Repairs & Maintenance                                                                    13,367
    Lease Equipment                                                                           1,108
    Furniture Lease                                                                             541
    Travel and Lodging                                                                       14,846
    Legal Fees                                                                                4,349
    Accounting Fees                                                                           4,250
    Professional Fees                                                                         6,600
    Miscellaneous Expenses                                                                    3,405
    Computer Expense                                                                            371
    Interest                                                                                  3,902
    Office Expense                                                                            2,127
    Postage and Delivery                                                                      1,173
    Telephone                                                                                 8,774
                                                                                      -------------
       Total Expenses                                                                       128,243
                                                                                      -------------

Income (Loss) Before Depreciation                                                         ( 128,243)
Amortization                                                                                    -0-
Depreciation                                                                                    -0-
                                                                                      -------------
Income (Loss) Before Income Taxes                                                         ( 128,243)

Provision for Income Taxes (Note 2)                                                             -0-
                                                                                      -------------
       Net Income (Loss)                                                              $   ( 128,243)
                                                                                      =============
    Basic Net Loss Per Share                                                                   .002

    Share Used in Computing Net Loss Per Share                                           62,080,552
</TABLE>


                         See Accountant's Review Report


<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                         Statement of Retained Earnings
                         ------------------------------
                            As of September 30, 2001
                            ------------------------
<TABLE>
<CAPTION>
<S>                                             <C>                     <C>
Deficit accumulated  March 8, 1998 at Merger                              ($429,352)

Net (Loss) for the Year 1998                           (590,366)

Deficit accumulated, at End of Year 1998                                ($1,019,718)

Net (Loss) for the Year 1999                           (675,719)

Deficit accumulated, at End of Year 1999                                 (1,695,437)

Net (Loss) for the Year 2000                         (1,171,377)

Deficit accumulated, at End of Year 2000                                 (2,866,814)

Net (Loss) for the Period                              (128,243)

Deficit accumulated, at September 30, 2001                               (2,995,057)
                                                                          =========
</TABLE>








                         See Accountant's Review Report


<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                             Statement of Cash Flows
                             -----------------------
                            As of September 30, 2001
                            ------------------------
<TABLE>
<CAPTION>
<S>                                                           <C>
OPERATING ACTIVITIES

      Net Income (Loss)                                       $     (128,243)

  Adjustments to reconcile Net Income to
  Net Cash provided by Operating Activities:

      Depreciation and Amortization                                      -0-

Changes in Operating Assets and Liabilities Net:

        Increase in Accounts Payable Trade                             1,609
                                                              --------------
             Net Cash (Used) by Operating Activities                (126,634)

INVESTING ACTIVITIES

             Net Cash Used in Investing Activities                       -0-

FINANCING ACTIVITIES

      Proceeds from Common Stock Issuance                            133,750
                                                              --------------
             Net Cash Provided by Financing Activities               133,750
                                                              --------------
Decrease in Cash and Cash Equivalents                                  7,116

Cash and Cash Equivalents at Beginning of Period                         922
                                                              --------------

Cash and Cash Equivalents at End of Period                    $        8,038
                                                              ==============
</TABLE>






                         See Accountant's Review Report


<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                          Notes to Financial Statements
                          -----------------------------
                            As of September 30, 2001
                            ------------------------

NOTE 1      ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

            A. ORGANIZATION

            AUGRID OF NEVADA, INC., (a Development Stage Company) formed under
            the laws of the State of Nevada. It is a development stage company
            whose primary business is a technology development firm specializing
            in Thin Cathode Ray Tube (TCRT) technology. The company currently
            has no operating income and , in accordance with SFAS #7 is
            considered a development Company.

            B. BASIS OF PRESENTATION

            Th financial records of the company are maintained on the accrual
            basis of accounting. The accompanying financial statements have been
            prepared on the going concern basis which contemplates the
            realization of assets and the satisfaction of liabilities in the
            normal course of business in accordance with generally accepted
            accounting principles.

            C. PROPERTY AND EQUIPMENT

            All property and equipment is stated at cost. The Company provides
            for depreciation, using the straight line method, over the estimated
            useful lives of the respective assets, as follows:
<TABLE>
<CAPTION>
                                                                                                 Years
                                                                                                 -----
<S>                                                                  <C>                        <C>
            Machinery and Equipment                                    $   68,080                 10
            Furniture and Fixtures                                          2,731                 10
            Office Equipment                                               14,176                 10
                                                                       ----------
            Total Property & Equipment                                 $   84,987
                                                                       ==========
</TABLE>

            Major renewals and improvements of property and equipment are
            capitalized, while replacements, maintenance and repairs which do
            not improve or extend the lives of the assets are charged against
            current operations.

            When property and equipment is disposed of, any gain or loss is
            included in current operations.


<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                          Notes to Financial Statements
                          -----------------------------
                            As of September 30, 2001
                            ------------------------

NOTE 1      ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
            (Continued)

            D. USE OF ESTIMATES

            The preparation of financial statements in conformity with general
            accepted accounting principles require management to make estimate
            and assumptions that affect the reported amounts of assets and
            liabilities at the date of the financial statement and the reported
            amounts of revenue and expenses during the reported period. Actual
            results could differ from those estimates.

            E. GOING CONCERN

            The company's financial statements are prepared using the generally
            accepted accounting principles applicable to a going concern, which
            contemplates the realization of assets and liquidation of
            liabilities in the normal course of business. However, the Company
            has no current source of revenue. Without realization of additional
            capital, it would be unlikely for the Company to continue as a going
            concern. The financial statements do not include any adjustments
            relating to the recoverability and classification of recorded assets
            or the amount and classification of liabilities which might be
            necessary should the company continue as a concern. The Company's
            continuation as a going concern is dependent upon its ability to
            generate sufficient cash flows to meet its obligations on a timely
            basis, to obtain additional financing as may be required, and
            ultimately to attain successful operations. It is management's plan
            to begin producing sales in mid 2002.

            F. RESEARCH AND DEVELOPMENT EXPENSE

            The company's policy relating to research and development and patent
            development cost are expensed when incurred except R&D machinery,
            equipment, and facilities which have alternative future uses either
            in R&D activities or otherwise. Machinery, equipment and facilities,
            which have alternate future uses should be capitalized. All
            expenditures in conjunction with an R&D project, including personnel
            cost, materials, equipment, facilities, and intangibles, for which
            the company has no alternative future use beyond the specific
            project for which the items were purchased, are expensed.

            G. REVENUE RECOGNITION

            The company has no current source of Revenue.


<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                          Notes to Financial Statements
                          -----------------------------
                            As of September 30, 2001
                            ------------------------

NOTE 2      LICENSING AGREEMENT

            The company has an agreement with CeraVision Limited. CeraVision has
            developed and is developing certain technology relating to
            ceramic-based field emission flat screen displays and hold certain
            patent applications and other intellectual property rights in
            relation to such technology and in relation to manufacturing
            processes and equipment to produce and sell such displays and
            components for incorporation into such displays. The cost incurred
            in relation to this licensing agreement is capitalized. The cost is
            amortized over a period of 5 years.

NOTE 3      INCOME TAXES

            There was no provision for Federal Income tax during 2001 or 2000
            because of an unexpired net operating loss carry forward.
<TABLE>
<CAPTION>
                                                                     Carryforward
               Year Ended                     Amount               Available to Year
               ----------                     ------               -----------------
<S>                                   <C>                              <C>
            December 31, 1998              1,019,718                        2013
            December 31, 1999                675,719                        2014
            December 31, 2000              1,171,377                        2015
            September 30, 2001               128,243                        2016
</TABLE>

            The Company has a net operating loss carryforward of $ 2,995,057
            which expires, if unused, in the years 2013 to 2016. The following
            is a reconciliation of the income tax benefit computed at the
            federal statutory rate with the provision for income taxes for the
            period ended 2000 and 2001.
<CAPTION>
<TABLE>
                                                                            2000                 2001
                                                                            ----                 ----
<S>                                                  <C>               <C>                    <C>
            Income tax benefit at the statutory rate (34%)             1,171,377              128,243
            Change in valuation allowance
                  State tax, net of federal benefit

            Non included items
                                                                       ---------              -------
            Provision for income taxes                                         0                    0
                                                                       =========              =======
</TABLE>







<PAGE>



                             AUGRID OF NEVADA, INC.
                          (A Development Stage Company)

                          Notes to Financial Statements
                          -----------------------------
                            As of September 30, 2001
                            ------------------------

NOTE 4      CAPITALIZATION

            On March 1, 1998, AuGRID Corporation's current controlling
            stockholders purchased controlling interest in Ironwood Ventures via
            the purchase of approximately 4,616,111 shares of Common Stock of
            Ironwood Ventures' in private transactions; this represented
            approximately 62.2 percent (62.2%) of Ironwood Ventures' issued and
            outstanding Common Stock.

            On March 2, 1998, Ironwood Ventures' executed a forward stock split
            of its stock, 6.06571228 to 1. In addition, Ironwood Ventures'
            increased its authorized shares to 90,000,000 common shares, par
            value $0.001, 10,000,000 preferred shares, par value $0.001, and
            changed its name to AuGRID of Nevada, Inc.

            On March 12, 1998, Ironwood Ventures' - now called AuGRID of Nevada,
            Inc. - executed an asset purchase agreement purchasing substantially
            all of the assets of AuGRID Corporation, a Delaware corporation
            hereinafter referred to as "AuGRID of Delaware", a company under
            common control by the control stockholders of the Ironwood
            Ventures', for 1,000,000 newly issued shares of the Ironwood
            Ventures'. This was not a third party, arms length transaction, and
            due to the development stage and specialized nature of the
            assets\technology that Ironwood Ventures' purchased, the Company's
            management is unable to determine how this transaction would compare
            to a similar arms length transaction. The shares of common stock
            were spun off to AuGRID of Delaware shareholders on a pro-rate basis
            on March 13, 1998.


<PAGE>



                             AUGRID OF NEVADA, INC.
                      (A Nevada Development Stage Company)

                          Notes to Financial Statements
                          -----------------------------
                            As of September 30, 2001
                            ------------------------

NOTE 5      NET LOSS PER SHARE

            The Company follows the provisions of Statement of Financial
            Accounting Standards No. 128, earnings per share (SFAS 128)

            The following table presents the calculation.
<CAPTION>
<TABLE>

<S>                                                                     <C>
                      Net Loss                                          $     2,995,057
                                                                        ---------------
                  Basic:
                            Weighted average share of
                      Common stock outstanding                               62,080,552
                                                                        ---------------
                      Basic net loss per share                                    (.048)

                  Pro forma :
                      Shares used above                                      62,080,552
                      Pro forma adjusted to reflect
                      Weighted affect of assumed
                      Conversion of preferred stock                             317,500
                                                                        ---------------
                      Shares used in computing pro forma
                         Basic net loss per share                            62,398,052
                                                                        ---------------

                      Pro forma basic net loss per share                          (.048)
</TABLE>







<PAGE>



                                            PART II - OTHER INFORMATION

ITEM 6       EXHIBITS AND REPORTS ON FORM 8-K

     (a)     Exhibits (Reference Numbers are to Item 601 of Regulation S-B)

              2      Asset Purchase Agreement between the Company and AuGRID
                     Corporation, a Delaware corporation, dated March 12, 1998
                     (the "Asset Purchase Agreement") and incorporated by
                     reference to Exhibit 2 to the Company's Form 10-SB, filed
                     with the Commission on December 27, 1999.

             3.1     Articles of Incorporation of the Company filed with the
                     Nevada Secretary of State on August 4, 1995 and
                     incorporated by reference to Exhibit 3(i) to the Company's
                     Form 10-QSB, filed with the Commission on June 13, 2001.

             3.2     Certificate of Amendment of Articles of Incorporation of
                     the Company filed with the Nevada Secretary of State on
                     March 18, 1998 and incorporated by reference to Exhibit
                     3(ii) to the Company's Form 10-QSB, filed with the
                     Commission on June 13, 2001.

             3.3     By-Laws of the Company adopted August 4, 1995 and
                     incorporated by reference to Exhibit 3 to the Company's
                     Form 10-SB, filed with the Commission on December 27, 1999.

             10.1    Patent License between the Company and CeraVision (Ireland)
                     Limited dated 7 July 2000, incorporated by reference to the
                     Company's Form 10-KSB for the fiscal year ended December
                     31, 2001, filed with the Commission on April 1, 2002.

             10.2    Exclusive Project Agreement relating to Displays for Use in
                     Automobiles between the Company and CeraVision Limited
                     dated 7 July 2000, incorporated by reference to the
                     Company's Form 10-KSB for the fiscal year ended December
                     31, 2001, filed with the Commission on April 1, 2002.

             10.3    Letter of understanding between the Company and the City of
                     Akron, Ohio regarding the purchase or lease (with purchase
                     option) of an approximately five-acre parcel of land
                     located in the city's Ascot Industrial Park, dated December
                     17, 1999, and incorporated by reference to the Company's
                     Form 10-KSB for the fiscal year ended December 31, 2001,
                     filed with the Commission on April 1, 2002.

             23      Consent of Independent Auditors

     (b)     Reports on Form 8-K

             None


<PAGE>



                                   SIGNATURES

In accordance with the requirements of the Exchange Act of 1934, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
<TABLE>
<S>                                         <C>
                                             AuGRID of Nevada, Inc.


Date:    March 28, 2002                      By: /s/ Muhammad J. Shaheed
                                                 ----------------------------------------------
                                                   Muhammad J. Shaheed, President and Director


Date:    March 28, 2002                      By: /s/ Mary F. Sloat-Horoszko
                                                 ----------------------------------------------
                                                   Mary F. Sloat-Horoszko, Secretary, Treasurer
                                                   and Director
</TABLE>