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

                                  FORM 10-QSB/A
                                (Amendment No. 2)

(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 [ ]

                      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. 2

This Amendment No. 2 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 Amendment No. 1 to 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
Nevada Development Stage Company) 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.

/s/ Henry L. Creel & Co., Inc.

June 11, 2001
Revised March 26, 2002




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

                                  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
------------

    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                                                        $ 1,207,651
                                                                    ===========


                         See Accountant's Review Report


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

                                  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
--------------------

       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,
       March 31, 2001 - 61,862,741
       December 31, 2000 - 58,268,469
       December 31, 1999 - 49,889,348
       December 31, 1998 - 46,629,414                                    61,862

    Additional paid in capital                                        3,568,145

    Deficit accumulated during the development stage                 (2,866,814)
                                                                    -----------

         Total Stockholders' Equity                                     845,411
                                                                    -----------

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

                         See Accountant's Review Report



<PAGE>



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

                               Statement of Income
                               -------------------
                For the Three Months Period Ended March 31, 2001
                ------------------------------------------------


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

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

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 Expenses                                         46,548
                                                        ------------

Income (Loss) Before Depreciation                            (46,548)
Amortization                                                     -0-
Depreciation                                                     -0-
                                                        ------------

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

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

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

    Basic Net Loss Per Share                                   .0001

    Shares Used in Computing Net Loss Per Share           61,862,741




                         See Accountant's Review Report



<PAGE>



                             AUGRID OF NEVADA, INC.
                             (A Development Company)

                         Statement of Retained Earnings
                         ------------------------------
                              As of March 31, 2001
                              --------------------




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                           (46,548)

Deficit accumulated, at March 31, 2001                              (2,913,362)
                                                                   ============




















                         See Accountant's Review Report

<PAGE>



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

                             Statement of Cash Flows
                             -----------------------
                              As of March 31, 2001
                              --------------------


CASH FLOWS FROM 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)

CASH FLOWS FROM INVESTING ACTIVITIES

             Net Cash Used in Investing Activities                          -0-

CASH FLOWS FROM 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



<PAGE>



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

                             Statement of Cash Flows
                             -----------------------
                              As of March 31, 2001
                              --------------------


CASH FLOWS FROM OPERATING ACTIVITIES

      Net Income (Loss)                                               $(974,119)

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

      Depreciation and Amortization                                     346,576

Changes in Operating Assets and Liabilities Net:

        Increase in Accounts Payables                                     1,659
                                                                      ---------

             Net Cash (Used) by Operating Activities                   (625,884)

CASH FLOWS FROM INVESTING ACTIVITIES

        Increase in Licensing Agreement                                (135,000)
                                                                      ---------

             Net Cash Used in Investing Activities                     (135,000)

CASH FLOWS FROM FINANCING ACTIVITIES

      Proceeds from Common Stock Issuance                               213,755
      Proceeds from Notes Payable- to Stockholders                      553,700
                                                                      ---------

             Net Cash Provided by Financing Activities                  767,455
                                                                      ---------

Increase in Cash and Cash Equivalents                                     6,571

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

Cash and Cash Equivalents at End of Year                              $   7,493
                                                                      =========





         The accompanying notes are an integral part of this statement.



<PAGE>



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

                          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 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:
                                                                        Years
                                                                        -----
                  Machinery and Equipment                $   68,080      10
                  Furniture and Fixtures                      2,731      10
                  Office Equipment                           14,176      10
                                                         ----------
                  Total Property & Equipment             $   84,987
                                                         ==========

                  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. 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.



<PAGE>



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

                          Notes to Financial Statements
                          -----------------------------
                              As of March 31, 2001
                              --------------------

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

                  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 March 31, 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
..
                                                                    Carryforward
                  Year Ended                 Amount           Available to Year
                  ----------                 ------           -----------------

                  December 31, 1998       1,019,718                        2013
                  December 31, 1999         675,719                        2014
                  December 31, 2000       1,171,377                        2015
                  March 31, 2001             46,548                        2016

                  The Company has a net operating loss carryforward of $
                  2,913,362 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.

<TABLE>
<CAPTION>
                                                                       2000       2001
                                                                       ----       ----
<S>                                                                 <C>           <C>
                  Income tax benefit at the statutory rate (34%)    1,171,377     46,548
                  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 March 31, 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 March 31, 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.

<TABLE>
<CAPTION>
<S>                                                                     <C>
                      Net Loss                                          $     2,913,362
                                                                        ---------------
                  Basic:
                      Weighted average share of
                      Common stock outstanding                               61,862,741
                                                                        ---------------

                      Basic net loss per share                                    (.047)

                  Pro forma:
                      Shares used above                                      61,862,741
                      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                            62,180,241
                                                                        ---------------

                      Pro forma basic net loss per share                          (.047)
</TABLE>


                           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.




<PAGE>



             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.

                          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