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                     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: March 31, 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 [ ]

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                      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: 64,179,053 shares of common stock at
October 1, 2001.

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 March 31, 2001 is being filed to amend Part I, Item 1, to revise
the financial statements included in the Form 10-KSB as previously filed.


                                TABLE OF CONTENTS

PART I    FINANCIAL INFORMATION

     Item 1   Financial Statements
     Item 2   Management's Discussion and Analysis or Plan of Operation

PART II   OTHER INFORMATION

     Item 1   Legal Proceedings
     Item 2   Exhibits and Reports on Form 8-K

SIGNATURES

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS

Review Report

Balance Sheet as of March 31, 2001

Statement of Income for the Three Months Period
ended March 31, 2001

Statement of Retained Earnings as of March 31, 2001

Statement of Cash Flows for the Three Months Period
ended March 31, 2001

Notes to the Financial Statements -
as of March 31, 2001


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                            HENRY L. CREEL CO., INC.
                           Certified Public Accountant
                                  (216)491-0800
                                FAX (216)491-0803


To the Shareholders and Board of Directors
AuGRID OF NEVADA, INC.
140 Public Square Suite 208
Cleveland, Ohio 44114


                           ACCOUNTANT'S REVIEW REPORT

I have reviewed the accompanying balance sheet of AuGRID OF NEVADA, INC. (A
Nevada Development Stage Corporation) as of March 31, 2001, and the related
statement of income, retained earnings and cash flows for the three months
period ended March 31, 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.

Respectfully,

/s/ Henry L. Creel

Henry L. Creel, CPA

October 29, 2001



                    3587 LEE ROAD  SHAKER HEIGHTS, OHIO 44120


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                             AUGRID OF NEVADA, INC.
                                  Balance Sheet
                              As of March 31, 2001



                                     ASSETS

CURRENT ASSETS

    Cash                                                       $    1,126
                                                               ----------

         Total Current Assets                                       1,126

PROPERTY AND EQUIPMENT (NOTE 1)

    Machinery And Equipment                                        68,080
    Furniture And Fixtures                                          7,686
    Office Equipment                                               14,176
                                                               ----------

         Total Property At Cost                                    89,942

    Less:  Accumulated Depreciation
                and Amortization                                   (9,418)
                                                               ----------

    Net Property and Equipment                                     80,524
                                                               ----------

OTHER ASSETS

    Deposits Building Construction                                 21,341
    Licensing Agreement ( Note 4)                               1,687,907

         Less Amortization                                       (583,247)
                                                               ----------

    Net Licensing Agreement                                     1,104,660
                                                               ----------

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

TOTAL ASSETS                                                   $1,207,651
                                                               ==========



                         See Accountant's Review Report

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                             AUGRID OF NEVADA, INC.
                                  Balance Sheet
                              As of March 31, 2001

                      LIABILITIES AND STOCKHOLDERS' EQUITY


CURRENT LIABILITIES

    Account Payable - Trade                                         $    63,988
                                                                    -----------


         Total Current Liabilities                                       63,988

LONG-TERM DEBT

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

         Total Long-Term Debt                                           299,700
                                                                    -----------

    Total Liabilities                                                   363,688

STOCKHOLDERS' EQUITY

    Capital Stock

       Preferred Stock $ 0.001 par value
       10,000,000 shares authorized and
       317,500 shares issued and outstanding                            127,000

       Common stock- with $0.001 par value
       90,000,000 shares authorized;
       61,862,741 shares issued and
       outstanding, and stated at:                                    3,630,325

    Retained Earnings (Deficit)                                      (2,913,362)
                                                                    -----------

         Total Stockholders' Equity                                     843,963
                                                                    -----------

TOTAL LIABILITIES AND
    STOCKHOLDERS' EQUITY                                            $ 1,207,651
                                                                    ===========



                         See Accountant's Review Report

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                             AUGRID OF NEVADA, INC.
                               Statement of Income
                For the Three Months Period Ended March 31, 2001


    Net Sales (Note 1)                                         $    -0-
    Interest Income                                                 -0-
                                                               --------

       Total Revenue                                                -0-
                                                               --------

General and Administrative Expenses

    Consultants                                                  24,656
    Auto Expense                                                  4,925
    Insurance                                                       916
    Rent                                                          2,212
    Lease Equipment                                               1,109
    Direct Travel                                                 3,100
    Legal Fees                                                      750
    Miscellaneous Expenses                                          761
    Office Expense                                                2,112
    Postage and Delivery                                            567
    Interest                                                      1,350
    Telephone                                                     4,090
                                                               --------

       Total General and Administrative Expenses                 46,548
                                                               --------

Income (Loss) Before Depreciation                               (46,548)

Depreciation                                                        -0-
                                                               --------

Income (Loss) Before Income Taxes                               (46,548)

Provision for Income Taxes (Note 2)                                 -0-
                                                               --------

       Net Income (Loss)                                       $(46,548)
                                                               ========



                         See Accountant's Review Report


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                             AUGRID OF NEVADA, INC.
                         Statement of Retained Earnings
                              As of March 31, 2001



Balance, at Beginning of Period (Deficit)                           ($2,866,814)
                                                                    -----------

Add: Net Income (Loss) for the Period                                   (46,548)
                                                                    -----------

Balance, at End of Period (Deficit)                                 ($2,913,362)
                                                                    ===========




                         See Accountant's Review Report


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                             AUGRID OF NEVADA, INC.
                             Statement of Cash Flows
                              As of March 31, 2001


OPERATING ACTIVITIES

      Net Income (Loss)                                                $(46,548)

  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                                1,652
                                                                       --------

             Net Cash (Used) by Operating Activities                    (44,896)

INVESTING ACTIVITIES

             Net Cash Used in Investing Activities                          -0-

FINANCING ACTIVITIES

      Proceeds from Common Stock Issuance                                45,100
                                                                       --------

             Net Cash Provided by Financing Activities                   45,100
                                                                       --------

Decrease in Cash and Cash Equivalents                                       204

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

Cash and Cash Equivalents at End of Period                             $  1,126
                                                                       ========



                         See Accountant's Review Report


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                             AUGRID OF NEVADA, INC.
                          Notes to Financial Statements
                              As of March 31, 2001

NOTE 1    ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          A.   Organization

          AUGRID OF NEVADA, INC., (a Nevada Development Stage Corporation)
          formed under the laws of the State of Nevada, is a technology
          development firm specializing in Thin Cathode Ray Tube (TCRT)
          technology. The company currently has no operations and , in
          accordance with SFAS #7 is considered a development corporation.

          B.   Basis of Presentation

          The financial records of the company are maintained on the accrual
          basis of accounting. The accompanying financial statements have been
          prepared on the accrual basis of accounting 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:

                                                                   YEARS

                  Machinery and Equipment         $   68,080         7
                  Furniture and Fixtures               7,686         7
                  Office Equipment                    14,176         5
                                                  ----------
                  Total Property & Equipment      $   89,942
                                                  ==========

               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.

          D.   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. It is management's plan
               to begin producing sales in mid 2002.

          E.   Estimates

               The preparation of financial statements in conformity with
               generally accepted accounting principles requires management to
               make estimates and assumptions that affect certain reported
               amounts and disclosures.

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NOTE 2    INCOME TAXES

          The Company is a C Corporation for Federal Income Tax purposes. There
          is no provision for Federal Income tax because of an unexpired net
          operating loss carry forward.

NOTE 3    CAPITALIZATION

          On March 1, 1998, AuGRID Corporation's current controlling
          shareholders 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 shareholders 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.

NOTE 4    LICENSING AGREEMENT

          Licensing Agreement consist of the cost in obtaining the licensing
          agreement with Ceravision Limited, Inc. The cost is amortized over a
          period of 5 years..

NOTE 5    LITIGATION AND CONTINGENT LIABILITIES

          There is a legal action pending against the AuGRID of Nevada, Inc.,
          involving a claim, a Company have regarding a contract dispute, and
          also individual with a dispute regarding a financial advisory
          agreement with AuGRID of Nevada, Inc. The action is being handled by
          the counsel of AuGRID of Nevada, Inc due to the nature of the action
          and the inherent uncertainty regarding the outcome of any litigation,
          the company at this time is unable to determine whether any material
          loss will result for this litigation.

NOTE 6    LONG-TERM NOTES

          The notes payable consists of two demand notes issued to shareholders
          to be repaid in eighteen months (18), secured by company stock.


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ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

PLAN OF OPERATION

General

AuGRID of Nevada, Inc. (the "Company") was organized by the filing of Articles
of Incorporation with the Secretary of State of the State of Nevada on August 4,
1995. The Company is a minority-owned research and development company in the
development stage. Its business objective is to exploit technologies that assist
in the development of proprietary flat panel display technology. The Company has
secured licensee rights to what is believed by management to be the first truly
operational flat panel display technology. This technology incorporates a
proprietary ceramic backplane that management believes will allow manufacturers
to overcome pricing, power and size obstacles currently facing all other
manufacturers in the flat panel display industry.

To date the Company has been engaged in securing funding, obtaining rights as a
licensee to the flat panel display technology critical to the Company's
business, finding and securing a management team and board of directors,
developing a business plan and conducting preliminary market research.
Management believes that there is a significant market for the flat panel
displays that the Company will manufacture and market. The Company also
purchased the technology and assets of a company in a similar line of business
as the Company.

Pursuant to its business plan, the Company has contracted for the manufacture of
a pilot production line at a cost to the Company of $1,200,000. It is
anticipated that the line will be completed and that production of flat panel
displays will commence in the fourth quarter of 2003.

Cash Requirements

The Company will have cash requirements of approximately $3,500,000 during the
next twelve months. During that period the Company will be obligated to pay a
$1,000,000 licensing fee with respect to the flat panel display technology that
it is exploiting; two installment payments in the amount of $300,000 each for
the manufacture of its pilot production line; approximately $1,000,000 to repay
debt; and the remainder for general administrative and operating costs,
including legal and accounting fees. It order to meet its cash requirements for
the next twelve months, it will be necessary for the Company to seek additional
debt and equity financing.

To date, the Company's cash requirements have been met from the proceeds of
private offerings of its common stock and the issuance of its debt securities.
The Company has not generated any revenues from operations, and it is unlikely
to realize any revenues from operations during the next twelve months or at any
time before the fourth quarter of 2003. However, the Company currently is in
discussions with private investors, and the Company expects to raise $5,000,000
during the next twelve months from the sale of its debt and equity securities.
That amount will meet the Company's cash requirement of $3,500,000 during the
next twelve months, provide the funds necessary for the payment of the final
$600,000 in aggregate installments due in 2002 for purchase of the pilot
production line and provide some amount for contingencies. If the Company is
unable to raise $3,500,000 during the next twelve months, it is unlikely that it
will be able to continue operations. The Company has no significant cash or
other material assets nor revenues to cover its operating costs to allow it to
continue as a going concern during such period. Even if the Company succeeds in
securing the financing necessary to fund its operations for the next twelve
months, it will be necessary for the Company to secure additional financing in
early 2002 to fund its operations


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during the last six months of 2002 and at least the first nine months of 2003,
since the Company does not expect to generate revenues from operations, until
its production line is in operation in late 2003.

Research and Development

Manufacture of the Company's pilot production line will continue during the next
twelve months, and the line is not expected to be completed until the fourth
quarter of 2003. The total cost of the line to the Company is $1,200,000.
Installment payments in the aggregate amount of $600,000 will be paid during the
next twelve months, and the balance of $600,000 will be due in two installments
in 2002.

Plant and Equipment

As noted, the Company will make installment payments aggregating $600,000 in the
next twelve months on the purchase of its pilot production line. During that
period the Company does not expect to make any other purchase of plant or
significant equipment or to engage in the sale of plant or significant
equipment.

Employees

The Company currently has four full-time employees. During the next twelve
months, the Company expects to increase that number by fifty percent with the
addition of two new employees, a Chief Financial Officer and a Vice President of
Marketing.

                           PART II - OTHER INFORMATION

ITEM 1    LEGAL PROCEEDINGS

          The Company has been threatened with litigation in connection with a
          contract dispute regarding a financial advisory agreement with AuGRID
          of Nevada, Inc. The Company is represented by legal counsel in the
          dispute, and it intends to vigorously defend against any action that
          might be brought against it. Due to the nature of the action and the
          inherent uncertainty of the outcome of any litigation, the Company at
          is unable to determine whether it would prevail in such litigation if
          brought or would suffer any material loss if it should not prevail.

ITEM 6    EXHIBITS AND REPORTS ON FORM 8-K

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

               2    Plan of Acquisition

                    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    Articles of Incorporation & By-Laws

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


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

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

               23   Consent of Independent Certified Accountants


     (b)  Reports on Form 8-K

               None


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                                   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.

                                 AuGRID of Nevada, Inc.



Date:    October 31, 2001        By: /s/ Muhammad J. Shaheed
                                     -------------------------------------------
                                     Muhammad J. Shaheed, President and Director



Date:    October 31, 2001        By: /s/ Mary F. Sloat-Horoszko
                                     -------------------------------------------
                                     Mary F. Sloat-Horoszko, Secretary,
                                     Treasurer and Director