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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: June 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 [ ]




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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 June 30, 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 June 30, 2001

Statement of Income for the Six Months Period
ended June 30, 2001

Statement of Retained Earnings as of June 30, 2001

Statement of Cash Flows for the Six Months Period
ended June 30, 2001

Notes to the Financial Statements -
as of June 30, 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 June 30, 2001, and the related
statement of income, retained earnings and cash flows for the six months period
ended June 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.

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 June 30, 2001



                                     ASSETS

CURRENT ASSETS

    Cash                                                    $         255
                                                                 --------

         Total Current Assets                                         255

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                                                  $ 1,206,780
                                                              ===========


                         See Accountant's Review Report.


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                             AUGRID OF NEVADA, INC.
                                  Balance Sheet
                               As of June 30, 2001

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

    Account Payable - Trade                                  $       66,147
                                                             --------------


         Total Current Liabilities                                   66,147

LONG-TERM DEBT

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

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

    Total Liabilities                                               365,847

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; 62,080,552 shares issued and outstanding,
      and stated at:                                              3,703,975

    Retained Earnings (Deficit)                                (  2,990,042)
                                                               -------------

        Total Stockholders' Equity                                 840,933
                                                             ---------------

TOTAL LIABILITIES AND
    STOCKHOLDERS' EQUITY                                      $   1,206,780
                                                              =============


                         See Accountant's Review Report.



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                             AUGRID OF NEVADA, INC.
                               Statement of Income
                  For the Six Month Period Ended June 30, 2001


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

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

General and Administrative Expenses

    Consultants                                                      32,805
    Secretarial Services                                              1,100
    Public Relations                                                  9,700
    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                                                        3,596
    Accounting Fees                                                   4,250
    Professional Fees                                                 6,600
    Miscellaneous Expenses                                            3,405
    Computer Expense                                                    371
    Interest                                                          3,902
    Office Expense                                                    1,838
    Postage and Delivery                                              1,173
    Telephone                                                         8,774
                                                               -------------

       Total General and Administrative Expenses                    123,228
                                                               -------------

Income (Loss) Before Depreciation                                 ( 123,228)

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

Income (Loss) Before Income Taxes                                 ( 123,228)

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

       Net Income (Loss)                                         $( 123,228)
                                                               =============


                         See Accountant's Review Report






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                             AUGRID OF NEVADA, INC.
                         Statement of Retained Earnings
                               As of June 30, 2001


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

Add: Net Income (Loss) for the Period                        (     123,228)
                                                             --------------

Balance, at End of Period (Deficit)                          ($  2,990,042)
                                                             ==============





















                         See Accountant's Review Report


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                             AUGRID OF NEVADA, INC.
                             Statement of Cash Flows
                               As of June 30, 2001


OPERATING ACTIVITIES

      Net Income (Loss)                                         $  ( 123,228)

  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                             3,811
                                                                ------------

             Net Cash (Used) by Operating Activities           (     119,417)

INVESTING ACTIVITIES

             Net Cash Used in Investing Activities                       -0-

FINANCING ACTIVITIES

      Proceeds from Common Stock Issuance                            118,750
                                                                 -----------

             Net Cash Provided by Financing Activities               118,750
                                                                 -----------

Decrease in Cash and Cash Equivalents                                  ( 667)

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

Cash and Cash Equivalents at End of Period                   $           255
                                                             ===============




                         See Accountant's Review Report



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                             AUGRID OF NEVADA, INC.
                          Notes to Financial Statements
                               As of June 30, 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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                           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 and incorporated by reference
                                    to Exhibit 3(i) to the Company's Form
                                    10-QSB, filed with the Commission on June
                                    13, 2001.

                           (ii)     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.

                           (iii)    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.

                  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