UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                    For the quarter ended September 30, 2002

                                       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 CORPORATION
             (Exact name of registrant as specified in its charter)

                             AUGRID OF NEVADA, INC.
                           (Former name of registrant)

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

                              2275 East 55th Street
                              Cleveland, Ohio 44103
                    (Address of principal executive offices)

                                 (216) 426-1589
              (Registrant's telephone number, including area code)

     Check whether the Registrant (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months, and (2) has been subject to such filing requirements for
the past 90 days. Yes |X | No | |

     As of November 19, 2002, there were 13,216,813 shares of the Registrant's
common stock, par value $0.001 issued and outstanding.



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                               AuGRID CORPORATION
               SEPTEMBER 30, 2002 QUARTERLY REPORT ON FORM 10-QSB
                                TABLE OF CONTENTS

                                                                                                                       Page Number
<S>               <C>                                                                                                      <C>
                  Special Note Regarding Forward Looking Information ..............................................

                         PART I - FINANCIAL INFORMATION

Item 1.           Financial Statements ............................................................................
Item 2.           Management's Plan of Operations..................................................................
Item 3.           Controls and Procedures..........................................................................

                                             PART II - OTHER INFORMATION

Item 1.           Legal Proceedings................................................................................
Item 2.           Changes in Securities and Use of Proceeds........................................................
Item 3.           Defaults Upon Senior Securities..................................................................
Item 4.           Submission of Matters to a Vote of Security Holders..............................................
Item 5.           Other Information................................................................................
Item 6.           Exhibits and Reports on Form 8-K.................................................................

     References in this report to "we", "us", "our" and similar terms means
Augrid Corporation, a Nevada corporation.


</TABLE>


                                       2
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                SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

     The following cautionary statements identify important factors that could
cause our actual results to differ materially from those projected in the
forward-looking statements made in this Quarterly Report on Form 10-QSB. Any
statements about our beliefs, plans, objectives, expectations, assumptions or
future events or performance are not historical facts and may be
forward-looking. These statements are often, but not always, made through the
use of words or phrases such as "will likely", "are expected to", "should", "is
anticipated", "estimated", "intends", "plans", "projection" and "outlook". Any
forward-looking statements are qualified in their entirety by reference to
various factors discussed throughout this Quarterly Report and discussed from
time to time in our filings with the Securities and Exchange Commission. Among
the significant factors that could cause our actual results to differ materially
from those expressed in the forward-looking statements are:

-    the potential risk of delay in implementing our business plan;
-    the market for products; and
-    the need for additional financing.

     Because the factors referred to above could cause actual results or
outcomes to differ materially from those expressed in any forward-looking
statements, persons should not place undue reliance on any of these
forward-looking statements. In addition, any forward-looking statement speaks
only as of the date on which it is made, and we undertake no obligation to
update any forward-looking statement or statements to reflect events or
circumstances after the date on which the statement is made, to reflect the
occurrence of unanticipated events or otherwise. New factors emerge from time to
time, and it is not possible for us to predict which will arise or to assess
with any precision the impact of each factor on our business or the extent to
which any factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.



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PART I            FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS
                   <S>                                                                                                  <C>
                  Independent Accountant's Report..................................................................
                  Consolidated Balance Sheets as of September 30, 2002 and December 31, 2001.......................
                  Consolidated Statements of Income for the nine months and three months ended
                     September 30, 2002 and 2001 and Cumulative since March 15, 1998 ..............................
                  Consolidated Statements of Retained Earnings since March 15, 1998 ..............................
                  Consolidated Statements of Cash Flows for the nine months ended
                     September 30, 2002 and 2001 and cumulative since March 15, 1998 ..............................
                  Notes to Consolidated Financial Statements.......................................................

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


To the Board of Directors and Stockholders
AuGRID CORPORATION
140 Public Square Suite 208
Cleveland, Ohio 44114


                           ACCOUNTANT'S REVIEW REPORT

We have reviewed the accompanying balance sheet of AuGRID CORPORATION (A Nevada
Development Stage Company) as of September 30, 2002, and the related statement
of income, retained earnings and cash flows for the nine months period ended
September 30, 2002, 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 CORPORATION.

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, we 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.

Based on my reviews, with the exception of the matter described in the above
paragraph, We are 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.
November 12, 2002





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<CAPTION>



                                   AuGRID CORP
                          (A DEVELOPMENT STAGE COMPANY)

                           CONSOLIDATED BALANCE SHEETS
                                  ( UNAUDITED)

                                   A S S E T S



                                               September 30, 2002           December 31, 2001
CURRENT ASSETS
   <S>                                            <C>                          <C>
    Cash                                           $       6                   $      7,493
    Accounts Recievable                                  850                              0
                                                   ---------                     ----------
     Total Current Assets                                856                          7,493

PROPERTY AND EQUIPMENT

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

     Total Property @ Cost                            89,942                         89,942

Less:  Accumulated Depreciation and Amortization     (61,059)                       (41,661)
                                                   ---------                     ----------

Net Machinery and Equipment                           28,883                         48,281

OTHER  ASSETS

   Licensing Agreement                                     0                              0

   Less Amortization                                      (0)                            (0)
                                                   ---------                     ----------

   Net Licensing Agreement                                 0                              0

   Deposits Building Construction                     21,341                         21,341
                                                   ---------                     ----------

     Total Other Assets                               21,341                         21,341
                                                   ---------                     ----------

TOTAL ASSETS                                       $  51,080                     $   77,115
                                                   =========                     ==========

</TABLE>





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<TABLE>
<CAPTION>

                                   AuGRID CORP
                          (A DEVELOPMENT STAGE COMPANY)

                           CONSOLIDATED BALANCE SHEETS
                                  ( UNAUDITED)

                                   LIABILITIES



                                               September 30, 2002            December 31, 2001
CURRENT LIABILITIES
<S>                                                 <C>                            <C>
   Accounts Payable -Trade                           $65,558                        $63,945
   Convertible Subordinated Promissory Note                0                              0
   Accounts Payable to Related Parties               221,650                        299,750
                                                   ---------                     ----------
     Total Current Liabilities                       287,208                        363,695

LONG -TERM DEBT

   Note Payable                                      553,700                        553,700
                                                   ---------                     ----------

     Total Long-Term Debt                            553,700                        553,700
                                                   ---------                     ----------

     Total Liabilities                               840,908                        917,395
                                                   ---------                     ----------


STOCKHOLDERS EQUITY

Capital Stock
Preferred Stock $ 0.001 par value
 10,000,000 shares authorized and
 317,500 shares issued and outstanding.                  318                            318
Common Stock - $0.001
 par value 90,000,000  authorized;                     9,937                         64,365
Shares Outstanding
December 31, 1998  46,629,414 Issued
December 31, 1999   49,889,348 Issued
December  31,2000   58,268,469 Issued
December 31, 2001 64,364,720 Issued
September 30, 2002 9,936,586 Issued
Additional Paid in Capital.                        4,417,225                      3,851,296
Retained Earnings                                 (5,217,308)                    (4,756,259)
                                                   ---------                      ---------

Deficit accumulated during the development Stage    -789,828                       -840,280
                                                   ---------                      ---------

TOTAL LIABILITIES AND
STOCKHOLDERS EQUITY                                $  51,080                      $  77,115
                                                   =========                      =========

</TABLE>



                                       7
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<TABLE>
<CAPTION>



                                   AuGRID CORP
                          (A DEVELOPMENT STAGE COMPANY)

                        CONSOLIDATED STATEMENTS OF INCOME
                                  (UNAUDITED)

                                      For The        For the      For the            For the         Cumulative for
                                      9 months       9 months     3 month            3month             the period
                                      ended          ended        ended              ended              03/15/98
                                      09/30/02       09/30/02     09/30/02           09/30/02           To 9/30/02
                                      --------       --------     --------           --------           ----------
<S>                                     <C>            <C>          <C>               <C>               <C>
Net Sales (Note 1)                    $     0        $     0      $      0           $      0           $        0
Interest Income                             0              0             0                  0                  524
                                      -------        -------      --------           --------           ----------
     Total Revenue                          0              0             0                  0                  524

Direct Cost

  Write-Off
   License Agreement ( Note 1H)             0              0             0                  0            1,262,908

General and Administrative Expenses
   Consultants                         34,278        374,063         1,473            176,966            1,266,278
   Secretary Services                   1,000              0             0                  0               40,642
   Public Relations                    12,200          2,790         2,500              1,790              285,032
   Auto Expense                        11,925          2,028             0                  0              120,768
   Insurance                              916              0             0                  0                4,604
   Rent and Utilities                   3,011          2,250             0                  0               74,654
   Repairs and Maintenance             13,367         15,136             0              1,636               24,027
   Leased Equipment                     1,108              0             0                  0               20,600
   Furniture Lease                        541              0             0                  0               29,624
   Travel and Lodging                  14,846         14,950             0             10,500              237,026
   Legal                                4,349          5,474           753              2,302              206,458
   Accounting                           4,250         19,400             0              5,900               55,826
   Professional Fees                    6,600              0             0                  0              114,701
   Miscellaneous                        3,405            278             0                  0               68,494
   Computer Services                      371          1,290             0                152               59,925
   Office Supplies                          0              0             0                  0               21,616
   Office Expenses                      2,127          2,461           289                928               44,201
   Postage and Delivery                 1,173          1,784             0              1,260               27,745
   Telephone                            8,774          6,976             0              3,155               92,076
   Interest Expense                     3,902         12,169             0              4,057              137,070
     Total General and
     Administrative Expenses         (128,143)      (461,049)       (5,015)          (208,646)          (2,931,367)
                                      -------        -------         -----            -------            ---------

Income (Loss) Before Depreciation    (128,143)      (461,049)       (5,015)          (208,646)          (4,193,751)

Depreciation                           (8,112)             0             0                  0              (21,162)
Amortization                               (0)            (0)           (0)                (0)          (1,012,599)
                                     ---------       -------       ---------         ---------           ---------

Income (Loss) Before Taxes           (136,255)      (461,049)       (5,015)          (208,646)          (5,227,513)

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

Net Income (Loss)                    (136,255)      (461,049)       (5,015)          (208,646)          (5,227,513)
                                   ===========================   ===========         =========           =========


Basic Net Loss Per Share               $0.002         $0.046        $0.000             $0.021               $0.526

Shares Used In Computing
      Net Loss Per Share          $62,080,552     $9,936,586   $62,080,552         $9,936,586           $9,936,586

</TABLE>

<TABLE>
<CAPTION>


                                       8
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                                   AuGRID CORP
                          (A DEVELOPMENT STAGE COMPANY)

                  CONSOLIDATED STATEMENTS OF RETAINED EARNINGS
                                  (UNAUDITED)


                                             March 15, 1998 ( Inception to September 30, 2002)



                                              12/31/98     12/31/99       12/31/00    12/31/01       09/30/02
                                              --------     --------       --------    --------       --------
<S>                                           <C>          <C>           <C>          <C>           <C>
Balance, at Beginning of the Year (Deficit)  $429,352     $1,019,718    $1,695,437   $2,866,814   $4,756,259

Add: Net Income (Loss) for the Year          (590,366)      (675,719)   (1,171,377)  (1,889,445)     (61,049)

Balance, At End of Year                    $1,019,718     $1,695,437    $2,866,814   $4,756,259   $5,217,308

</TABLE>


                                       9
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<TABLE>
<CAPTION>


                                   AuGRID CORP
                          (A DEVELOPMENT STAGE COMPANY)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


                                                                                                 CUMULATIVE
                                                                                                 FOR THE PERIOD
                                                                                                 MARCH 15,1998
                                                              09/30/02              09/30/01     TO SEPTEMBER 30, 2002
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                         <C>                    <C>              <C>

   Net Income (Loss)                                         ($461,049)            ($136,255)       ($5,227,513)

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

   Depreciation and Amortization                                12,168                     0          1,029,705

Changes in Operating Assets and Liabilities Net:
   Loss on Write Off Other Assets                                    0                     0          1,127,959
   Increase (Decrease) in Accounts payable Related Parties     (78,100)                    0            365,750
   Increase In Accounts Recievable                              (1,613)                    0               (850)
   Increase (Decrease) in Accounts Payable                           0                 9,621             53,190
                                                            ----------              --------          ---------


     Net Cash Used by Operating Activities                    (525,368)             (126,634)        (2,650,059)

CASH FLOWS FROM INVESTING ACTIVITIES

   Increase in Deposits-Building Construction                       (0)                   (0)           (21,341)

   Increase in Licensing Agreement                                  (0)                   (0)        (1,423,542)
   Purchase of Property and Equipment                               (0)                   (0)           (53,713)
                                                            ----------              --------          ---------


     Net Cash Used in Investing Activities                          (0)                   (0)        (1,498,596)

CASH FLOWS FROM FINANCING ACTIVITIES

   Proceeds from Promissory Note                                     0                     0            612,200
   Proceeds from Notes Payable Stockholders                          0                     0            254,000
   Proceeds from Stock Issuance                                518,731               133,750          3,250,938
                                                           -----------             ---------         ----------

     Net Cash Provided by Financing Activities                 518,731               133,750          4,117,138


Increase (Decrease) in Cash and Cash Equivalents                (6,637)                7,116            (31,517)


Cash and Cash Equivalents at Beginning of Year                   7,493                   922             32,373
                                                           -----------             ---------         ----------


Cash and Cash Equivalents at End of Year                   $      856              $   8,038         $      856
                                                           ==========              =========         ==========

</TABLE>



                                       10
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                               AuGRID CORPORATION
                          (A Development Stage Company)

                          Notes to Financial Statements
                            As of September 30, 2002

Note 1            Organization and Summary of Significant Accounting Policies
                  -----------------------------------------------------------

                  A. Organization

                  AuGRID CORPORATION, (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

                  The 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>
                  <S>                                                        <C>                    <C>
                                                                                                     Years
                  Machinery and Equipment                                    $   68,080                 10
                  Furniture and Fixtures                                          7,686                 10
                  Office Equipment                                               14,176                 10
                                                                             ----------
                  Total Property & Equipment                                 $   89,942
                                                                             ==========
</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.

                  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.




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                               AuGRID CORPORATION
                          (A Development Stage Company)

                          Notes to Financial Statements
                            As of September 30, 2002

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.

                  H .Impairment of Long-Lived Assets & Long -Lived Assets to Be
                     Disposed Of

                  Statement of Financial Accounting Standards No. 121,
                  "Impairment of Long-Lived Assets" (SFAS 121), requires the
                  Company to review for possible impairment, assets to be held
                  for use and assets held for disposal, whenever events or
                  changes in circumstances indicate that the carrying amount may
                  not be recoverable, and in such event, to record an impairment
                  loss. The Company adopted SFAS 121 in 1998 and evaluated the
                  recoverability of long lived assets at its properties. Initial
                  adoption of SFAS 121 in 1998 did not have a material impact on
                  the Company's financial condition or results of operations.



                                       12
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                               AuGRID CORPORATION
                          (A Development Stage Company)

                          Notes to Financial Statements
                            As of September 30, 2002


Note 1            Organization and Summary of Significant
                    Accounting Policies (Continued)
                  ---------------------------------------

                  H .Impairment of Long-Lived Assets & Long
                     - Lived Assets to Be Disposed Of  (Cont)
                     ----------------------------------------

                  Up to 2000, the company recorded a charges of $1,822,907 from
                  continuing operations relating to an impairment loss on other
                  assets. Approximately $1,450,000 was due to a current
                  Licensing Agreement while $373,383 was due to a prior
                  Licensing Agreement. The company's revenue, which was
                  anticipated from future agreements of this type, had not been
                  realized as anticipated, therefore resulting in and impairment
                  loss on intangible assets.

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            Accounts Payable to Related Parties
                  -----------------------------------

                  The company entered into consulting agreements with
                  Stockholders, the company has violated its agreements by being
                  delinquent in its payment to these Stockholders. At September
                  30, 2002 the company owed these related parties (Stockholders)
                  the following amounts $42,500, $31,250, $25,000 and $122,900
                  totaling $221,650.These amounts relates to unpaid consulting
                  fees and cash advance to company made by stockholders not
                  repaid. All amounts due on demand with no interest.




                                       13
<PAGE>





                               AuGRID CORPORATION
                          (A Development Stage Company)

                          Notes to Financial Statements
                            As of September 30, 2002

Note 4            Income Taxes
                  ------------

                  There was no provision for Federal Income tax during 2002 or
                  2001 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
                  December 31, 2001              1,889,445                        2016
                  September 30, 2002               461,049                        2017
</TABLE>

                  The Company has a net operating loss carryforward of
                  $5,217,308 which expires, if unused, in the years 2013 to
                  2017. 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 2001 and 2002.

<TABLE>
<CAPTION>

                                                                                  2001                2002
                                                                                  ----                ----
                  <S>                                                            <C>                <C>
                  Income tax benefit at the statutory rate (34%)                 1,889,445          461,049
                  Change in valuation allowance
                  State tax, net of federal benefit
                  Non included items
                  Provision for income taxes                                             0                0
</TABLE>

Note 5            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



                                       14
<PAGE>




                               AuGRID CORPORATION
                      (A Nevada Development Stage Company)

                          Notes to Financial Statements
                            As of September 30, 2002

Note 5            Capitalization (Continued)
                  --------------------------

                  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.

                  On August 17, 2002 at the Company's annual shareholders
                  meeting the company changed its name to AuGRID Corporation and
                  initiated a 50 to 1 reverse split which decreased the amount
                  of shares outstanding.

Note 6            Net Loss Per Share
                  ------------------

<TABLE>
<CAPTION>

                  The Company follows the provisions of Statement of Financial
                  Accounting Standards No. 128, earnings per share (SFAS 128)
                  The following table presents the calculation.
                     <S>                                                           <C>
                      Net Loss                                                      $     461,049
                  Basic:
                      Weighted average share of
                      Common stock outstanding                                          9,936,586
                                                                                   --------------
                      Basic net loss per share                                               (.05)
                  Pro forma :
                      Shares used above                                                 9,936,586
                      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                                      10,255,086
                                                                                  ---------------
                      Pro forma basic net loss per share                                     (.04)


Note 7            Notes Payable to Stockholders

                  Notes payable to stockholders represents demand notes that
                  matured on 01/28/01 with interest at 12%. The matured notes
                  were converted into 18 Month Demand notes at 10% interest
                  totaling $ 553,700

                  Notes Payable to Stockholders- Long Term                            $   553,700

</TABLE>




                                       15
<PAGE>




ITEM 2.           MANAGEMENT'S PLAN OF OPERATION

     The following discussion and analysis should be read in conjunction with
the Financial Statements and Notes thereto appearing elsewhere in this Quarterly
Report. Certain statements in this Quarterly Report, which are not statements of
historical fact, are forward-looking statements. See "Special Note Regarding
Forward-Looking Information" on Page 3.

General

     We are a research and development company in the development stage. Our
predecessor was formed under the name Ironwood Ventures, Inc. ("Ironwood") by
the filing of Articles of Incorporation with the Secretary of State of the State
of Nevada on August 4, 1995. On March 2, 1998, following a change of control, we
changed our name to Augrid of Nevada, Inc. We effectively commenced operations
on March 15, 1998. On August 30, 2002, we changed our name to AuGRID
Corporation.

     Our business objective is to exploit technologies that assist in the
development of proprietary flat panel display (FPD) technology. We have secured
licensee rights to what is believed by management to be the first truly flat
panel, field emission device (FED), display technology. This thin cathode ray
tube technology incorporates a proprietary ceramic backplane that management
believes will allow manufacturers to overcome pricing, power and size obstacles
currently facing many other manufacturers in the flat panel display industry.
Although we have no current manufacturing or sales operations utilizing this
technology, it intends, within the next twelve months, to begin the manufacture
of thin cathode ray tubes for a broad range of flat panel display product
applications for the transportation industry.

     To date we have been engaged in securing funding, obtaining rights as a
licensee to the flat panel display technology critical to our business, finding
and securing a management team and board of directors, developing a business
plan, conducting preliminary market research and contracting for the manufacture
of a pilot production line at a cost to us 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.

Patent License; Royalties

     We have obtained a patent license from CeraVision Limited to use certain
ceramic-based field emission flat panel display technologies to manufacture and
market products for the transportation industry. Pursuant to the terms of the
license, we are required to pay royalties to its licensor. We have ceased paying
such royalties. Although the licensor has not yet terminated the license, we are
considering alternative strategies to acquire or develop FED technologies.

Research and Development

     We spent approximately $1,312,000 in 2000 and $138,000 in 2001 for research
and development and other costs incurred in connection with our efforts to
obtain the patent license from CeraVision Limited. Although those costs
initially were recorded as deferred costs, they subsequently were attributed to
the license agreement.

     Of the amount recorded for 2000, $862,000 was a direct payment to
CeraVision Limited pursuant to the license agreement. The remaining $450,000 of
costs for that year represented payments to CeraVision Limited for additional
FPD research and development services not covered by the $1,000,000 fee. The
$138,000 recorded for 2001 was a direct payment to CeraVision Limited pursuant
to the license agreement. An aggregate of $1,450,000 of payments to CeraVision
Limited during the last two fiscal years is attributable to the license
agreement. Although we currently are producing no FPD products and have no
customers for such products, we expect that these costs ultimately will be
recovered in the prices we charge for our FPD products.


                                       16
<PAGE>

Distribution

     In November 2001, we acquired a 51% interest in Summit Media Services, LLC,
an electronics distribution company. We have generated no revenue through
September 30, 2002. We have, however, commenced distribution of products in the
fourth quarter.

Cash Requirements

     We will have cash requirements of approximately $2 million during the next
twelve months for

-        product design and development costs,
-        marketing,
-        inventory financing,
-        warehouse and distribution facilities construction, and
-        administrative costs.

     To date, our cash requirements have been met from the proceeds of private
offerings of our common stock and the issuance of our debt securities. We have
generated no revenues from operations to date. We expect that revenues over the
next twelve months will be inadequate to meet working capital requirements, and
we are considering other financing arrangements that will provide the necessary
working capital to conduct operations as planned. If we are unable to complete
such financing arrangements, it is unlikely that we will be able to continue
operations.

Employees

     We have four full-time employees and no part-time employees. Our management
team currently is comprised of two persons, a Chief Executive Officer and a
Secretary/Treasurer. However, through consultation with advisors and board
members, our management has identified key personnel who may be available to
fill management positions, as soon as we have the funds to compensate them.
These include a Chief Operations Officer, a Chief Financial Officer, an
Executive Vice President, a Controller and a Vice President of Manufacturing and
a Vice President of Sales and Marketing. We intend to fill these positions
during the next twelve months and also intend to hire experienced high-tech
sales personnel.

ITEM 3.  CONTROLS AND PROCEDURES.

     As required by new Rules 13a-15 and 15d-15 of the Securities Exchange Act
of 1934, within the 90-day period prior to the filing of this report and under
the supervision and with the participation of our management, including our
chief executive officer and chief financial officer, we have evaluated the
effectiveness of the design and operation of its disclosure controls and
procedures. Based on such evaluation, our chief executive officer and chief
financial officer have concluded that such disclosure controls and procedures
are effective in ensuring that material information relating to our company,
including our consolidated subsidiaries, is made known to the certifying
officers by others within our company and our consolidated subsidiaries during
the period covered by this report.

     There were no significant changes in our internal controls for financial
reporting or in other factors that could significantly affect such internal
controls subsequent to the date of such evaluation. In connection with the new
rules, we are currently in the process of further reviewing and documenting our
disclosure controls and procedures, including our internal accounting controls,
and may from time to time make changes aimed at enhancing their effectiveness
and to ensure that our systems evolve with our business.




                                       17
<PAGE>


PART II  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

     In August 2002, we issued 3,759,500 shares of our common stock to certain
of our officers as in return for such officer's forgiving our obligation to pay
them back salary in the aggregate amount of $375,950. The issuance was made in a
private transaction, exempt from the registration requirements under the
Securities Act of 1933 under Section 4(2) under such Act.

     In September 2002, we issued 1,806,800 shares of our common stock to
certain consultants for providing services to our company. The issuance was made
in a private transaction, exempt from the registration requirements under the
Securities Act of 1933 under Section 4(2) under such Act.

     In September 2002, we issued 507,286 shares of our common stock to certain
investors for investing in our company at the purchase price of $0.10 per share.
The issuance was made in a private transaction, exempt from the registration
requirements under the Securities Act of 1933 under Section 4(2) under such Act.

ITEM 3.  DEFAULTS IN SENIOR SECURITIES

         None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     On August 16, 2002, we held our 2002 Annual Meeting of Shareholders. At the
meeting, our shareholders elected five directors and voted on two proposals
presented at the meeting upon the recommendation of our Board.

     The following persons were elected to the Board for the next year and the
number of voting shares voted for each nominee:
<TABLE>
<CAPTION>
<S>                                 <C>             <C>
M. J. Shaheed                       47,914,765 For   440,715 Withheld Authority
Mary F. Sloat-Horoszko              47,914,765 For   440,715 Withheld Authority
Earle B. Higgins                    47,914,765 For   440,715 Withheld Authority
Essa Mashni                         47,914,765 For   440,715 Withheld Authority
Cecil Weatherspoon                  47,914,765 For   440,715 Withheld Authority
</TABLE>

     The following proposals were presented to the stockholders at the Annual
Meeting and how the voting shares were voted on each proposal:

     Proposal 1 - the shareholders approved an amendment to our Articles of
Incorporation to change our name to AuGRID Corporation - 48,335,480 For; 20,000
Against; 0 Abstain.

     Proposal 2 - the shareholders ratified Henry L. Creel Co., Inc. as our
independent certified public auditors for the next fiscal year - 48,327,288 For;
20,000 Against; 8,192 Abstain.

     The record date for meeting was prior to the effective date of our reverse
stock split.

ITEM 5.  OTHER INFORMATION

Form 8-K; Item 9; Regulation FD Disclosure



                                       18
<PAGE>

     In accordance with 18 U.S.C. Section 1350, as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of 2002, our Chief Executive Officer and Chief
Financial Officer executed the following written statements which statements
accompanied the filing with the Securities and Exchange Commission of this
Quarterly Report on Form 10-QSB:

                Certification Pursuant To 18 U.S.C. Section 1350,
                             As Adopted Pursuant To
                  Section 906 of The Sarbanes-Oxley Act of 2002

I, M. J. Shaheed, President and Chief Executive Officer of AuGRID Corporation
(the "Company"), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, 18 U.S.C. Section 1350, that:

-        the Company's Quarterly Report on Form 10-QSB for the fiscal quarter
         ended June 30, 2002, as filed with the Securities and Exchange
         Commission on the date hereof (the "Report") fully complies with the
         requirements of Section 13(a) or 15(d) of the Securities Exchange Act
         of 1934; and

-        the information contained in the Report fairly presents, in all
         material respects, the financial condition and result of operations of
         the Company for the periods presented therein.

                Certification Pursuant To 18 U.S.C. Section 1350,
                             As Adopted Pursuant To
                  Section 906 of The Sarbanes-Oxley Act of 2002

I, Mary F. Sloat-Horoszko, Treasurer of AuGRID Corporation (the "Company"),
certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C.
Section 1350, that:

-        the Company's Quarterly Report on Form 10-QSB for the fiscal quarter
         ended June 30, 2002, as filed with the Securities and Exchange
         Commission on the date hereof (the "Report") fully complies with the
         requirements of Section 13(a) or 15(d) of the Securities Exchange Act
         of 1934; and

-        the information contained in the Report fairly presents, in all
         material respects, the financial condition and result of operations of
         the Company for the periods presented therein.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits

                  23.   Consent of Independent Certified Accountants

         (b)      Reports on Form 8-K

                  On July 3, 2002, we filed a Form 8-K, Item 5, to report that
                  our Board of Directors unanimously had approved a one-to-fifty
                  reverse split of our common stock and that the split also had
                  been approved by a majority of our shareholders in an action
                  taken by written consent.

                  On September 24, 2002, we filed a Form 8-K, Item 5, to report
                  the results of our Annual Shareholders Meeting, the change of
                  our corporate name to AuGRID Corporation, the appointment by
                  our Board of Directors of a Compensation Committee. We also
                  reported the adoption by our Board of Directors of the 2002
                  Long-Term Incentive Plan and the grant of stock options under
                  the Plan.




                                       19
<PAGE>



SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                           AUGRID CORPORATION

Dated: November 21, 2002                   By: /s/ M. J. SHAHEED
                                           -------------------------------------
                                           M. J. Shaheed
                                           President and Chief Executive Officer

Dated: November 21, 2002                   By: /s/ MARY F. SLOAT-HOROSZKO
                                           -------------------------------------
                                           Mary F. Sloat-Horoszko
                                           Treasurer/Secretary




                                       20
<PAGE>



                                 CERTIFICATIONS


I, M. J. Shaheed, certify that:


1. I have reviewed this quarterly report on Form 10-QSB of AuGRID Corporation;


2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;


3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;


4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:


         (a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;


         (b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and


         (c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;


5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):


         (a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and


         (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and


6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


November 21, 2002


/s/ MJ SHAHEED
-------------------------------------
M. J. Shaheed
Chief Executive officer and President




                                       21
<PAGE>



I, Mary F. Sloat-Horoszko, certify that:


1. I have reviewed this quarterly report on Form 10-QSB of AuGRID Corporation;


2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report;


3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;


4. The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:


         (a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;


         (b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and


         (c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;


5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation, to the registrant's auditors and the audit committee of
registrant's board of directors (or persons performing the equivalent
functions):


         (a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and


         (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and


6. The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.


November 21, 2002


/s/ MARY F. SLOAT-HOROSZKO
--------------------------
Mary F. Sloat-Horoszko
Treasurer/Secretary





                                       22
<PAGE>



Exhibit 23.1

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


November 14, 2002


To Whom It May Concern:

The firm of Henry L. Creel Co., Inc., Certified Public Accountant, consents to
the incorporation by reference of its report dated November 12, 2002 on the
Financial Statements of AuGRID Corporation (the "Company") included in the
Company's report on Form 10-QSB for the fiscal quarter ended September 30, 2002
in the Company's Registration Statements of Form S-8, Commission File Numbers
333-97683 and 333-97747.

Respectfully,
------------------
/s/ Henry L. Creel

Henry L. Creel, CPA


                    3587 LEE ROAD SHAKER HEIGHTS, OHIO 44120




                                       23
<PAGE>



Correspondence

                Certification Pursuant To 18 U.S.C. Section 1350,
                             As Adopted Pursuant To
                  Section 906 of The Sarbanes-Oxley Act of 2002

I, M. J. Shaheed, President and Chief Executive Officer of AuGRID Corporation
(the "Company"), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, 18 U.S.C. Section 1350, that:

-        the Company's Quarterly Report on Form 10-QSB for the fiscal quarter
         ended June 30, 2002, as filed with the Securities and Exchange
         Commission on the date hereof (the "Report") fully complies with the
         requirements of Section 13(a) or 15(d) of the Securities Exchange Act
         of 1934; and

-        the information contained in the Report fairly presents, in all
         material respects, the financial condition and result of operations of
         the Company for the periods presented therein.


                                           /s/ M. J. Shaheed
                                           -------------------------------------
                                           President and Chief Executive Officer
                                           November 21, 2002



                                       24
<PAGE>



Correspondence

                Certification Pursuant To 18 U.S.C. Section 1350,
                             As Adopted Pursuant To
                  Section 906 of The Sarbanes-Oxley Act of 2002

I, Mary F. Sloat-Horoszko, Treasurer of AuGRID Corporation (the "Company"),
certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C.
Section 1350, that:

-        the Company's Quarterly Report on Form 10-QSB for the fiscal quarter
         ended June 30, 2002, as filed with the Securities and Exchange
         Commission on the date hereof (the "Report") fully complies with the
         requirements of Section 13(a) or 15(d) of the Securities Exchange Act
         of 1934; and

-        the information contained in the Report fairly presents, in all
         material respects, the financial condition and result of operations of
         the Company for the periods presented therein.


                                           /s/ Mary F. Sloat- Horoszko
                                           -------------------------------------
                                           Treasurer
                                           November 21, 2002






                                       25
<PAGE>