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

                                  FORM 10-KSB

(Mark One)

[X] Annual  Report Under Section 13 or 15(d) of the  Securities  Exchange Act of
    1934

                   For the fiscal year ended December 31, 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)

               NEVADA                                  34-1878390
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

             2275 EAST 55TH STREET - II FLOOR, CLEVELAND, OHIO 44103
                  (Address of Principal Executive Offices; Zip Code)

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

Securities registered under Section 12(b) of the Exchange Act: None

Securities registered under Section 12(g) of the Exchange Act: Common Stock, par
value $0.01 per share

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 [ ]




<PAGE>


Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the  best  of  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB [X]

State issuer's revenues for its most recent fiscal year:

The   approximate   aggregate   market   value  of  the  Common  Stock  held  by
non-affiliates  of the  registrant,  based upon the closing  price of the Common
Stock reported on OTCBB was $ .012 on April 9,2003.

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:  78,216,813 shares of common stock at
March 27, 2003.

Transitional Small Business Disclosure Format (check one):

Yes [ ]           No [X]




<PAGE>


DOCUMENTS  INCORPORATED BY REFERENCE The  information  called for by Part III is
incorporated  by reference  from the  information  statement  (the  "Information
Statement").  The  Information  Statement  was  filed  with the  Securities  and
Exchange Commission on April 9, 2003 and mailed to the Company's stockholders no
later than April 29, 2003.

In addition to historical  information,  the 14-c Information Statement contains
forward-looking   statements.   These  statements  may  contain  words  such  as
"expects,"  "anticipates," "intends," "plans," "believes," "estimates," or other
words indicating future results. These forward-looking statements are subject to
certain  risks and  uncertainties  that  could  cause  actual  results to differ
materially from those reflected in the  forward-looking  statement.  The Company
undertakes  no  obligation  to revise or  publicly  release  the  results of any
revision   to  these   forward-looking   statements.   Given   these  risks  and
uncertainties,  readers  are  cautioned  not to  place  undue  reliance  on such
forward-looking statements.

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

GENERAL
The  Company's  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,  the Company  changed its name to AuGRID of Nevada,  Inc. The
Company effectively  commenced  operations on March 15, 1998. In August of 2002,
the company changed its name to AuGRID  Corporation.  Its executive  offices are
located at 2275 East 55th  Street,  II- Floor,  Cleveland,  Ohio 44103,  and its
telephone number is 216.426.1589.

The  Company has an  exclusive  license to use a certain  thin  cathode ray tube
technology  to  manufacture  and market  flat  panel  display  products  for the
transportation  industry.  Although the Company has no current  manufacturing or
sales operations utilizing its rights to such technology, it intends, within the
next eighteen months, to begin the  manufacturing  process as well as continuing
the distribution of LCD, Plasma and other flat panel devices.

<PAGE>

INDUSTRY BACKGROUND

During the last 25 years,  flat-panel  displays  (small,  lightweight,  and flat
instruments  that  display  digital  information,  "FPD")  have been  undergoing
technological  improvements to provide a better quality image. In addition,  the
growth of FPD sales is being  accelerated  by the emerging  portable  electronic
products market, as evidenced by the vigorous emergence of small, portable video
cameras,  portable video games,  handheld television sets, video displays in the
rear seats of vans, and personal digital assistants. As FPD sales grow, however,
most  customers  seem to  become  dissatisfied  with the cost,  performance  and
availability  tradeoffs  inherent in the current  technology  used in FPDs. This
dissatisfaction  presents an  opportunity  for the products and  technology  the
Company offers.

PRODUCTS

By  employing  the use of  vacuum  microelectronics  technology,  the  Company's
licensor in conjunction  with a British  Research  Facility has developed a very
thin device called field emission  display ("FED") that provides a technological
breakthrough   in   cathode   ray  tube   ("CRT")   monitors.   These  FEDs  are
high-resolution,  full-color displays with all of the operating  characteristics
of a standard  cathode ray tube. FEDs are  solid-state  vacuum displays that are
based on the  emission  of  electrons  from a  multiple-thin-film,  micron-size,
field-emission  cathodes arrayed on a flat-glass substrate.  Because the display
is matrix addressed - row and column-patterned  electrodes - the advantages of a
line-at-a-time digital address is retained. As a result, the FED becomes a truly
flat,  low-power display with high resolution and high brightness;  in addition,
the patented spacer  technology from the Company's  licensor's  British facility
allows  for a glass  thickness  of 8 mm,  resulting  in a FPD that will be thin,
light, and scalable to larger sizes without increasing the glass thickness.

This   new   product   will  be  able  to   provide   a   reliable,   low-power,
video-addressable  color FED at a low cost. It initially will be targeted to the
automotive  industry,  proven  successful  with target sales and marketing goals
met. The Company will seek and negotiate additional applications,  including not
limited to computer monitor and on-the-wall- television applications.

Initially  the Company will produce for the  automobile  industry,  although the
thin cathode ray tube  ("TCRT")  technology is designed to also meet the demands
of other  applications,  including  outdoor video  advertising,  television  and
computer  monitors,   as  well  as  commercial,   medical  and  military  screen
applications. Management recognizes that the technology will address three basic
market  demands - lower  cost,  power  efficiency  and  performance  level.  The
Company's  goal is to become a  broad-based  provider  of  display  screens  and
monitors.  However,  the Company does not yet manufacture any products employing
this  technology.  Currently  the  Company's  products are  restricted  to those
employing  liquid  crystal  display  technology,  and these  products,  although
limited,  are beginning to be distributed  by a  distribution  arm formed by the
company, currently referred to as Summit Media Systms, LLC.

In addition to Summit Media,  AuGRID has also  established a west coast presence
with the addition of a microelectronics division, AuGRID Microelectronics.  This
division,  is  currently  shipping  sample  products  to qualify  pieces for the
bio-medical industry.

COMPETITION

Competition  for the  Company's  main  products  will  come from  active  matrix
liquid-crystal  displays,   plasma  displays  and  electro-luminescent   panels.
However,  these  products are hindered by the  limitations  of their  underlying
technologies.  For  example,  the user  usually  has to  experiment  to find the
optimal angle to view one of these  screens;  if there is direct  sunlight,  the
screen  becomes  difficult to view.  These  technologies  become  expensive when
producing  full-color and high-image  refreshment  rates-not a problem when most

<PAGE>

FPDs did not require those  features.  With the demands now being made on mobile
communications,  however,  wireless and video industries are at decision points;
these  industries'  future will be  determined  by their  ability to develop and
provide a product that is currently not  available,  and to do it  economically.
Management  believes the Company can efficiently  manufacture FPDs with enhanced
color  and  video  rates  without  the  significant  power,  thickness  and cost
penalties   generally   attributed  to  liquid  crystal  displays  ("LCD")  with
comparable  features.  Management  is  confident  that  the  Company's  licensed
TCRT/FED technology is better than the current alternatives and that the Company
will be able to provide the hardware to support the demand for such technology.

The Company's  exclusive  licensing agreement denotes what is believed to be the
first truly  operational,  scalable and replicable FPD technology.  In addition,
management  believes the uniqueness of the proprietary  technology  resides with
the  incorporation  of a proprietary  ceramic  backplane.  This  uniqueness will
permit the Company to hurdle  pricing,  power and size  obstacles that currently
face all other manufacturers in the FPD industry.

RESEARCH AND DEVELOPMENT

The Company spent approximately $1,350,000 in 2000 and $100,000 in 2001 for
research and development costs, an aggregate of approximately $1,450,000 for the
 last two fiscal  years.  Although  the Company  currently  is  producing no FPD
 products and has no customers  for such  products,  it expects that these costs
 ultimately will be recovered in the prices it charges for its FPD products.

Of the amount spent in 2000, $1,000,000 was paid to CeraVision Limited as a part
of a $3,000,000  fee for its services in  developing  certain flat panel display
prototypes  and building  manufacturing  lines for the purpose of producing such
displays.  The second  $1,000,000  installment of the fee is due on demand,  but
CeraVision  Limited is  withholding  demand  while the  Company is  exploring  a
strategic business combination. The final $1,000,000 installment of the fee will
not be due until the Company receives the last of ten (10) prototype  production
lines complying with certain  specifications.  The remaining  $350,000 amount in
2000 and the $100,000  amount in 2001 were paid to CeraVision  Limited for other
FPD research and development services not covered by the $3,000,000 fee.


PATENT LICENSE; ROYALTIES

The Company has obtained an exclusive 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,  the Company  will be required  to pay  royalties  to its
licensor.  These  royalties  are based upon  production.  On July 1,  2001,  the
Company became subject to a minimum  quarterly  royalty payment in the amount of
$500,000,  irrespective  of production,  for the fiscal quarter ended  September
30,2001. Although the first payment was due on October 7, 2001, the licensor has
deferred the Company's obligation to make any royalty payments.


<PAGE>

MARKETING STRATEGIES

Advertising

The  Company's  goal over the next two years is to create  enough  visibility to
support  its  product  line in the  domestic  automobile  industries  as well as
foreign markets. To accomplish this, the Company will advertise in various trade
publications  and business  magazines,  keeping track of the results to maximize
the return of its  advertising  expenses  and attend  trade shows in America and
abroad for distribution of all products.

Sales

Initially  the  Company  plans to sell  directly  to 1st and 2nd  tier  original
equipment  manufacturers.  Management  also has identified  several large retail
buying  associations,  such as NATM Buying Corporation.  Each buying association
represents a substantial number of large electronic appliance retailers that may
be interested in acquiring  flat-panel  screens in large quantities for regional
distribution  among buying group  members  these  channels are  currently  being
utilized by Summit Media, the distribution arm of AuGRID.

Goals

The  worldwide  display  market is  currently  $40 billion  per year,  and it is
projected to be over $60 billion by 2005; the FPD market is  approximately  $9.5
billion and  estimated  to be $35 billion by 2005.  Management  believes its FPD
will have the potential to displace  other display  technologies  because of its
cost effectiveness, efficiency and overall advanced product.

Management  also  anticipates   developing   strong  ties  with  major  computer
manufacturers,  such as Dell,  Gateway,  Phillips  in Europe and IBM in America.
Although these relationships are not currently solidified, the Company's goal is
to become synonymous with leading-edge technology in the laptop and desk-mounted
computer  monitor  market  and  the  evolving  television   industry,   such  as
wall-mounted digital televisions. The Company is committed to the production and
distribution  of  superior  display  technology  products  that are  exclusively
designed to change the way people see things.

REGULATION

Existing or probable governmental regulations have not had (and are not expected
to have) any  material  impact on the  Company's  operations,  and the costs and
effects of  compliance  with  federal,  state and local  environmental  laws are
minimal.

EMPLOYEES

The  Company  has four  full-time  employees  and no  part-time  employees.  The
Company's  management  team  currently  is comprised  of four  persons,  a Chief
Executive  Officer,  Chief  Operating  Officer,  Chief  Financial  Officer and a
Secretary.  However,  through  consultation  with  advisors  and board  members,
management has identified key personnel who may be available to fill  management
positions,  as soon as the  Company  has the  funds to  compensate  them.  These
include but are not limited to, an Executive Vice President,  a Controller and a
Vice President of Manufacturing and a Vice President of Sales and Marketing. The
Company also intends to hire experienced high-tech sales personnel


<PAGE>



ITEM 2.  DESCRIPTION OF PROPERTY

The  Company's  corporate  headquarters  are  located at 2275 East 55th  Street,
II-Floor,  Cleveland,  Ohio 44103 in  approximately  1,500 square feet of leased
office  space.  In  addition,  an  extension  of another  10,000  square feet of
warehouse/distribution space has been added to the existing 1,500 for use by the
company.

Also,  AuGRID has  recently  assumed a  facility  on the west coast to house its
microelectronics operations in a 10,000 square foot building.

ITEM 3.  LEGAL PROCEEDINGS

The Company is not a party to any pending material legal proceeding.
ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

No matter was submitted to a vote of security  holders during the fiscal quarter
ended December 31, 2002.

                                     PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Although  shares of Common Stock  sometimes  trade on the OTCBB under the symbol
"AGRD,"  there is no active  public  trading  market for such shares.  Shares of
Common Stock have traded on the OTCBB since  October 17,  2000,  and during that
time the per share price has widely ranged from $0.01 to $0.18.  The table below
sets forth the high and low bid prices for each  completed  fiscal quarter since
December 2000. In addition,  some shares were sold in private  transactions at a
purchase price of $0.50 per share prior to the date the Company's  shares traded
on the OTCBB, and the Company's outstanding Convertible  Subordinated Debentures
were converted to shares at a conversion price of $0.50 per share at immediately
after  trading  on the  OTCCB  commenced,  pursuant  to a  mandatory  conversion
provision of the Company's agreement with debenture holders.

   FISCAL QUARTER ENDED             HIGH BID PRICE      LOW BID PRICE
   --------------------------- ------------------- ------------------
   December 31, 2002                        $0.11           $0.04
   --------------------------- ------------------- ------------------
   September 30, 2002                       $0.18           $0.05
   --------------------------- ------------------- ------------------
   ** 1-50 reverse split executed 7-24-02 **
   June 30, 2002                            $0.01            $0.004
   --------------------------- ------------------- ------------------
   March 31, 2002                           $0.01            $0.004
   --------------------------- ------------------- ------------------
   December 31, 2001                        $0.01            $0.004
   --------------------------- ------------------- ------------------
   September 30, 2001                       $0.10            $0.008
   --------------------------- ------------------- ------------------
   June 30, 2001                            $0.18            $0.04
   --------------------------- ------------------- ------------------
   March 31, 2001                           $0.02            $0.02
   --------------------------- ------------------- ------------------
   December 31, 2000                        $0.04             $0.0375


<PAGE>

The quotations set forth in the table above reflect inter-dealer prices, without
retail  mark-up,  mark-down  or  commission,  and such prices may not  represent
actual transactions.

As of March 29, 2003, there were outstanding  78,216,813  shares of Common Stock
held of record by 700  persons.  The Company has not paid any  dividends  on its
common stock during the last two fiscal years,  and,  although it has no plan to
pay dividends on such stock at any time in the foreseeable future,  there are no
restrictions that limit its ability to pay dividends..

ITEM 6.  PLAN OF OPERATION

GENERAL

The Company is a research and development  company in the development stage. Its
business objective is to exploit  technologies that assist in the development of
proprietary  flat panel display  technology as well as most recently  adding the
development of microelectronics  for the bio-medical  industry.  The Company has
secured  licensee rights to what is believed by management to be the first truly
flat panel, FED (Field Emission  Device),  display  technology.  This 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.

To date the Company has been engaged in securing funding,  obtaining rights as a
licensee  to the  flat  panel  display  technology  critical  to  the  Company's
business,  finding  and  securing  a  management  team and  board of  directors,
developing  a  business  plan  and  conducting   preliminary   market  research.
Management  believes  that  there is a  significant  market  for the flat  panel
displays that the Company will manufacture and market to the automotive industry
as well as consumer  electronics  which is  currently  being  targeted  with the
initiation of product distribution by AuGRID's distribution arm.


CASH REQUIREMENTS

The Company will have cash  requirements of approximately  $2,500,000 during the
next twelve  months.  Approximately  $1,000,000 for general  administrative  and
operating  costs for all current  facets,  including the  distribution  arm, the
microelectronics  division,  legal and accounting fees and the hiring of several
additional key employees; approximately $676,800 to repay debt (plus interest in
the  amount of 10% on  $250,000  of that  amount  from June 18,  2001);  and the
remainder to fund further  microelectronic  research and development  activities
(ie: hybrid microelectronic circuitry).

To date,  the  Company's  cash  requirements  have been met from the proceeds of
private  offerings of its common stock, the issuance of its debt securities and,
during fiscal 2002,  limited sales of products  employing liquid crystal display
technology.  The Company generated no revenues from operations  through December
31, 2001 and has generated no revenues from that date through December 31, 2002.
The Company expects that revenues over the next twelve months will be inadequate
to meet working capital requirements, and the Company is considering a strategic
combination  that  will  provide  the  necessary   working  capital  to  conduct
operations  as planned.  If the Company is unable to complete  the  contemplated
combination,  it is unlikely that it will be able to continue  operations unless
it can raise  substantial  proceeds from one or more private or public offerings
of its securities.  The Company has no significant cash or other material assets
nor  revenues  to cover its  operating  costs to allow it to continue as a going
concern during such period. The Company expects to generate  sufficient revenues
from operations to cover its costs beginning in late 2003.



<PAGE>


 OTHER INFORMATION

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 Report on Form
10-K:


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 Report on Form 10-K for the
year  ended  December  31,  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, Stan  Chapman,  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  Report on Form K for the year ended  December 31,
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.

<PAGE>



ITEM 7 FINANCIAL STATEMENTS

                          INDEPENDENT AUDITOR'S REPORT


To Board of Directors and Stockholders
                             AuGRID of Nevada, Inc.
I have  audited  the  accompanying  balance  sheet  of  AuGRID  Corporation.  (A
Development  Stage Company) as of December 31, 2002, and the related  statements
of  income,  retained  earnings  and cash flows for the year then  ended.  These
financial statements are the responsibility of management.  My responsibility is
to express an opinion on these financial statements based on my audit.

I conducted my audit in accordance with generally  accepted auditing  standards.
Those standards  require that I plan and perform the audit to obtain  reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management  as well as  evaluating  the overall  presentation  of the  financial
statements. I believe that my audit provides a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all
material  respects,  the financial position of AuGRID Corporation (A Development
Stage  Company) as of December 31, 2002,  and the results of its  operations and
its cash flows for the year then ended,  in conformity  with generally  accepted
accounting principles.

The  accompanying  financial  statement  have been  prepared  assuming  that the
company will continue as a going  concern.  The company is a  development  stage
company  engaged in the  development  and  marketing of Flat Panel  Display.  As
discussed in Note 1 of the financial statements,  the company's operating losses
since inception and the deficit  accumulated  during the development stage raise
substantial doubt about its ability to continue as a going concern. Management's
plan  concerning  these  matters  are also  described  in note 1. The  financial
statements do not include any adjustments  that might result from the outcome of
this uncertainly.

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

April 9, 2003


<PAGE>




                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                          AUDITED FINANCIAL STATEMENTS

                        AS OF DECEMBER 31, 2002 AND 2001







<PAGE>





                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                              FINANCIAL STATEMENTS


                                TABLE OF CONTENTS




                                                                  PAGE NO.
                                                                  --------
Auditor's Report

Consolidated Balance Sheets as of  December 31, 2002 and 2001       2 - 3

Consolidated Statements of Operations for the
          year ended December 31, 2002 and 2001                       4

Consolidated Statement of Stockholders' Deficit
         for the year ended December 31, 2002 and 2001                5

Consolidated Statement of cash flows for the
         year ended December 31, 2002 and 2001                        6

Notes to the Financial Statements -
         As of December 31, 2002 and 2001                           7 -11


<PAGE>





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


To the Board of Directors and Stockholders of
AUGRID CORPORATION

                          INDEPENDENT AUDITOR'S REPORT
                          ----------------------------


We  have  audited  the  accompanying   consolidated  balance  sheets  of  AUGRID
CORPORATION (A Nevada  corporation in the Development Stage) and subsidiaries as
of December 31, 2002 and 2001, and the  consolidated  statements of operations ,
stockholders'  deficit,  and cash  flows for the years then ended and the period
from interception of the development stage (March 15, 1998) through December 31,
2002. These financial  statements are the  responsibility  of the  Corporation's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the  United  States of  America.  Those  standards  require  that we plan and
perform the audit to obtain  reasonable  assurance  about  whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statements  presentation.  We  believe  that our  audits  provides  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the financial  position of AUGRID CORPORATION (A Nevada
corporation in the Development  Stage) and  subsidiaries as of December 31, 2002
and 2001,  and the  results of its  operations  and its cash flows for the years
then ended and the period from the  inception  of the of the  development  stage
(March 15,  1998)  through  December  31, 2002 , in  conformity  with  generally
accepted  accounting  principles  generally  accepted  in the  United  States of
America.

The  accompanying  financial  statement  have been  prepared  assuming  that the
company will continue as a going  concern.  The company is a  development  stage
company  engaged in the  development  and  marketing of Flat Panel  Display.  As
discussed in Note 1 of the financial statements,  the company's operating losses
since inception and the deficit  accumulated  during the development stage raise
substantial doubt about its ability to continue as a going concern. Management's
plan  concerning  these  matters  are also  described  in note 1. The  financial
statements do not include any adjustments  that might result from the outcome of
this uncertainly.



Henry L Creel Co., Inc
Cleveland, Ohio

March 31, 2003

                    3587 LEE ROAD SHAKER HEIGHTS, OHIO 44120

                                      -2-
<PAGE>





                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                           CONSOLIDATED BALANCE SHEETS
                        AS OF DECEMBER 31, 2002 AND 2001


                                     ASSETS
                                     ------

CURRENT ASSETS                                            2002          2001
--------------                                         -------------------------

    Cash                                                 $ 1,974       $  7,493
                                                        --------       --------

         Total Current Assets                              1,974          7,493

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

    Machinery And Equipment                               69,119         68,080
    Furniture And Fixtures                                 7,686          7,686
                                                        --------       --------
    Office Equipment                                      14,176         14,176
                                                        --------       --------

         Total Property At Cost                           90,981         89,942

    Less:  Accumulated Depreciation                      (65,115)       (41,661)
                                                        --------       --------

    Net Property and Equipment                            25,886         48,281
                                                        --------       --------

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

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

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


TOTAL ASSETS                                            $ 49,181       $ 77,115
                                                        ========       ========


       See independent auditors' report and notes to financial statements.
                                      -3-
<PAGE>
<TABLE>
<CAPTION>


                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                           CONSOLIDATED BALANCE SHEETS
                        AS OF DECEMBER 31, 2002 AND 2001


                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------


CURRENT LIABILITIES                                                  2002              2001
-------------------                                            ------------     ---------------
<S>                                                               <C>                <C>

    Accounts Payable                                             $   65,558      $       63,945
Accounts Payable to Related Parties(Note 3)                         213,750             299,750
                                                               ------------     ---------------
         Total Current Liabilities                                  279,308             363,695
                                                               ------------     ---------------

LONG-TERM DEBT
-------------

    Notes Payable to Stockholders (Note 7)                          673,350             553,700
                                                                -----------       -------------
            Long-Term Debt                                          673,350             553,700
                                                                -----------       -------------
    Total Liabilities                                               952,658             917,395
                                                                -----------        ------------

STOCKHOLDERS' EQUITY
--------------------

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

     Common stock- with $0.001 par value
     90,000,000 shares
      Authorized; Shares outstanding:
         Dec 31, 2002 - 13,216,813 shares
         Dec 31, 2001 - 64,364,720 shares
         Dec 31, 2000 - 58,268,469 shares
         Dec 31, 1999 - 49,889,348 shares
         Dec 31, 1998 - 46,629,414 shares                            13,217              64,365
    Additional paid in capital                                    4,517,459           3,871,296
    Deficit accumulated during
    the development stage                                        (5,434,471)        ( 4,756,259)
                                                                  ------------------------------

         Total Stockholders' Equity (Deficit)                   (   903,477)        (   840,280)
                                                                ------------       -------------

TOTAL LIABILITIES AND
    STOCKHOLDERS' EQUITY                                        $    49,181        $     77,115
                                                                ===========        ============


       See independent auditors' report and notes to financial statements.

</TABLE>
                                      -4-
<PAGE>
<TABLE>
<CAPTION>
                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                 FOR THE YEARS ENDED DECEMBER 31, 2002 AND 2001



                                                                                                               CUMULATIVE
                                                                                                               FROM THE
                                                                                                              INCEPTION TO
                                                                                                                DEC 31,
                                                                                  2002                2001        2002
                                                                                --------------------------------------------
<S>                                                                                <C>              <C>            <C>
Revenue

    Net Sales (Note 1)                                                                -0-             -0-             524

Cost and Expenses

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

    General and Administrative                                                    654,758         627,543       3,152,264
                                                                               ------------   ------------    ------------

Income (Loss) Before Depreciation                                                (654,758)     (1,890,451)     (4,415,648)

    Amortization                                                                      -0-             -0-        (527,306)

    Depreciation                                                                  (23,454)         (8,994)        (65,115)
                                                                               ------------    ------------   ------------

Income (Loss) Before Income Taxes                                                (678,212)     (1,899,445)     (5,008,069)

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

       Net Income (Loss)                                                      $ (678,212)    $ (1,899,445)   $ (5,008,069)
                                                                             ============    ============    ============

    Basic and Diluted Loss Per Share                                          $     (.05)    $      (.030)
                                                                             ------------    ------------

    Weighted Average Shares Outstanding                                        13,150,280      64,364,720


</TABLE>
       See independent auditors' report and notes to financial statements.


                                      -5-
<PAGE>

                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                      (A Nevada Development Stage Company)

                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
                        AS OF DECEMBER 31, 2002 AND 2001


<TABLE>
<CAPTION>




                           SHARES OF       ADDIT.         ACCUM            ACCUM
                           COMMON          COMMON         PAID IN          PRIOR TO       AFTER
                           STOCK           STOCK          CAPITAL          MARCH 18       MARCH 18        TOTAL
                           ----------- ------------- ------------------ ------------- --------------- ---------
<S>                         <C>          <C>             <C>                <C>            <C>               <C>

Balance at
 March 8, 1998                                                             (429,352)                     (429,352)

Balance at

December 31, 1998          46,629,414      46,629         1,473,469                       (429,352)     1,520,098
Net Loss                                                                                  (590,366)       500,380

Balance at
December 31, 1999          49,889,348      50,207         1,945,304                     (1,019,718)       975,475
Net Loss                                                                                  (675,719)       300,074

Balance at
December 31, 2000          58,268,469      58,586         3,653,639                     (1,695,437)     2,016,470
Net Loss                                                                                (1,171,377)       845,411

Balance at
December 31, 2001          64,364,720      64,683         3,861,286                     (2,866,814)     1,058,837
Net Loss                                                                                (1,889,445)      (840,280)

Reverse Split
50 to 1  (51,147,907)

Net Loss                                                                                  (678,212)
Balance at
December 31, 2002         13,216,813  13,535   4,517,459  (429,352)                     (5,434,471)      (903,477)



       See independent auditors' report and notes to financial statements.


</TABLE>
                                      -6-
<PAGE>


                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                        AS OF DECEMBER 31, 2002 AND 2001


<TABLE>
<CAPTION>

                                                                                                       CUMULATIVE
                                                                                                        FROM THE
                                                                                                     INCEPTION TO
                                                                                                         DEC 31,
                                                                        2002                2001          2002
                                                                     ------------ ------------------ --------------
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                                   <C>                 <C>                <C>


      Net Income (Loss)                                              $ ( 678,212)   $ ( 1,899,445)     ($5,008,069)

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

      Depreciation                                                        23,454            8,994          596,421

Changes in Operating Assets and Liabilities Net:

      Loss on write-off Other Assets                                          -0-       1,127,959        1,127,959
      Increase(Decrease) in Accounts
      Payable Related Parties                                            (86,000)         299,750          213,750
      Increase in Accounts Payables                                        1,613            1,659           56,462
                                                                     ------------ ------------------ --------------
      Net Cash (Used) by Operating Activities                           (739,145)        (461.083)      (3,013,477)

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-         (54,849)
                                                                     ------------ ------------------ --------------
      Net Cash Used in Investing Activities                                   -0-              -0-      (1,499,732)

CASH FLOWS FROM FINANCING ACTIVITIES

      Proceeds from Common Stock Issuance                                613,976          213,654        3,677,408
      Proceeds from Notes Payable- to Stockholders                       119,650          254,000          866,200
                                                                     ------------ ------------------ --------------
      Net Cash Provided by Financing Activities                          733,626          467,654        4,543,608
                                                                     ------------ ------------------ --------------

Increase ( Decrease) in Cash and Cash Equivalents                      (   5,519)           6,571       (   30,399)

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


Cash and Cash Equivalents at End of Year                             $     1,974   $        7,493       $    1,974
                                                                     ===========   ================= =============

       See independent auditors' report and notes to financial statements.
</TABLE>

                                      -7-
<PAGE>




                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
                        AS OF DECEMBER 31, 2002 AND 2001

NOTE 1      ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

              A. ORGANIZATION
             AUGRID  CORPORATION,  (a Development  Stage Company) whose name was
             changed from Augrid of Nevada,  Inc in August 17, 2002 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     $   69,119       10
                  Furniture and Fixtures           7,686       10
                  Office Equipment                14,176       10
                                              -----------
                  Total Property & Equipment  $   90,981
                                              ===========


                  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.





                                      -8-
<PAGE>

                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
                            AS OF DECEMBERR 31, 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 2003.


                  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.



                                      -9-
<PAGE>

                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
                        AS OF DECEMBER 31, 2002 AND 2001


NOTE 1            ORGANIZATION ANDSUMMARY 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.

                  I. PRINCIPALS OF CONSOLIDATION

                  Summit Media LLC

                  Effective October 31, 2002, the company acquired 51% of Summit
                  Media,  LLC It will be used  as a  distribution  chain  for it
                  products . The  acquisition  was accounted  under the purchase
                  method  of  accounting.   As  part  of  the  agreement  Augrid
                  Corporation  will  not  be  obligated  to pay  any  additional
                  amounts  in  2003  or  2004  based  on  the   agreement.   All
                  significant  intercompany  accounts and transactions have been
                  eliminated.  Subsidiary  losses  in  excess  of the  unrelated
                  investors'  interest are charged against the company interest.
                  Changes in the Companys  proportionate share of the subsidiary
                  equity resulting from the additional equity transaction in the
                  consolidation  with no gain recognition due to the development
                  stage  of  the  subsidiaries  and  uncertainty  regarding  the
                  Companys ability to continue as a going concern


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.



                                      -10-
<PAGE>
                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
                        AS OF DECEMBER 31, 2002 AND 2001



NOTE 3            ACCOUNTS PAYABLE TO RELATED PARTIES
                  -----------------------------------

                  The   company   enter   into   consulting    agreements   with
                  Stockholders, the company has violated its agreements by being
                  delinquent in its payment to these  Stockholders.  At December
                  30, 2002 the company owed these related parties (Stockholders)
                  the following amounts $37,500,  $31,250,  $25,000 and $120,000
                  totaling  $213,750.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.

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.
                                                               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
                  December 31, 2001       1,889,445                2016
                  September 30, 2002        678,212                2017

                  The  Company  has  a  net  operating  loss   carryforward   of
                  $5,434,471  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>
<S>                                                                  <C>         <C>
                                                                    2001         2002
                                                                 ----------   ---------
                  Income tax benefit at the statutory rate (34%)  1,889,445     678,212
                  Change in valuation allowance
                  State tax, net of federal benefit
                  Non included items
                                                                 ----------   ---------
                  Provision for income taxes                            0             0
                                                                 ==========   =========


</TABLE>


                                      -11-
<PAGE>

                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                      (A Nevada Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
                        AS OF DECEMBER 31, 2002 AND 2001

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


                  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 Companys 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  to 13,216,813  outstanding at December
                  31, 2002.

                                      -12-
<PAGE>



                               AUGRID CORPORATION
                                AND SUBSIDIARIES
                      (A Nevada Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
                        AS OF DECEMBER 31, 2002 AND 2001

NOTE 6            NET LOSS PER SHARE
<TABLE>
<CAPTION>
<S>                           <C>                                                     <C>

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

                  The following table presents the calculation.
                      Net Loss                                                      $     678,212
                  Basic:
                      Weighted average share of
                      Common stock outstanding                                         13,216,813
                                                                                  ---------------
                      Basic net loss per share                                              ( .05)
                  Pro forma :
                      Shares used above                                                13,216,813
                      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                                      13,534,313
                                                                                  ---------------
                      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 $ 673,350

                  Notes Payable to Stockholders- Long Term                                  $    673,350

NOTE 8            RECLASSIFICATION

                  Certain  balances have been  reclassified in the 2001 and from
                  inception   to  December  31,  2002   consolidated   financial
                  statements to conform to the 2002 presentation.


</TABLE>

                                      -13-
<PAGE>






ITEM 8.    CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
           FINANCIAL DISCLOSURE

           Not Applicable


                                    PART III

ITEM 9     DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
           COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

          The  information  required by with respect to the Company's  executive
          officers is  incorporated  herein by  reference  from the  information
          provided  under the heading  "Executive  Officers"  of the  definitive
          information   statement  previously  filed  with  the  Securities  and
          Exchange  Commission  on or about  April  9,  2003  (the  "Information
          Statement").  The  information  required with respect to the Company's
          directors is  incorporated  herein by reference  from the  information
          provided under the heading,  "Security Ownership of Certain Beneficial
          Owners and Management".

ITEM 10    EXECUTIVE COMPENSATION

          Information  regarding  the  compensation  of  executive  officers and
          directors  of the  Company  is  incorporated  by  reference  from  the
          information provided under the heading "Executive Compensation" of the
          Information Statement.

ITEM 11  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

          Information  regarding security ownership of certain beneficial owners
          and  management  is  incorporated  by reference  from the  information
          provided under the heading "Security  Ownership of Certain  Beneficial
          Owners and Management" contained in the Information Statement.


ITEM 12  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

          N/A


ITEM 13  EXHIBITS, LIST AND REPORTS ON FORM 8-K

             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.

                                      -14-
<PAGE>

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

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

             10.1    Patent License between the Company and CeraVision (Ireland)
                     Limited  dated 7 July 2000

             10.2    Exclusive Project Agreement relating to Displays for Use in
                     Automobiles  between  the Company  and  CeraVision  Limited
                     dated 7 July 2000


             23      Consent of Independent Auditors


                     None

ITEM 14  CONTROLS AND PROCEDURES

Under the supervision and with the  participation  of our management,  including
our  principal  executive  officer  and  principal  financial  officer,  we have
evaluated  the  effectiveness  of the design  and  operation  of our  disclosure
controls and procedures  within 90 days of the filing date of this Annual Report
on Form 10-KSB.  Based on that evaluation,  our principal  executive officer and
principal  financial  officer have  concluded that these controls and procedures
are effective.  There were no significant changes in our internal controls or in
other factors that could  significantly  affect these controls subsequent to the
date of their  evaluation.  Disclosure  controls and procedures are our controls
and other procedures that are designed to ensure that information required to be
disclosed  by us in the  reports  that we file or submit  under  the  Securities
Exchange  Act of  1934  is  accumulated  and  communicated  to  our  management,
including our principal  executive officer and principal  financial officer,  as
appropriate, to allow timely decisions regarding required disclosure.


                                      -15-

<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


                                 By:/S/ MUHAMMAD J. SHAHEED

                                 -------------------------------------------
                                Muhammad J. Shaheed, President, Chief Executive
                                Officer and Chairman
                                Date: April 10, 2003

In  accordance  with the Exchange  Act, this report has been signed below by the
following  persons on behalf of the  registrant and in the capacities and on the
dates indicated.

                          By: /S/ MUHAMMAD J. SHAHEED
                              -------------------------------------------------
                                   Muhammad J. Shaheed, Chief Executive
                                   Officer and Chairman (principal executive
                                   officer)  Date:  April 10,
                                   2003

                          By: /S/ MARY F. SLOAT-HOROSZKO
                              -------------------------------------------------
                                   Mary F. Sloat-Horoszko, Secretary, Director
                                   Date: April 10, 2003

                          By: /S/ MICHAEL D. YOUNG
                              ---------------------
                                    Michael D. Young, Director, COO
    Date: April 10, 2003

                          By: /S/ STAN CHAPMAN
                              ------------------------------------------------
                                   Stan Chapman, Director, Treasurer, CFO
                                   Date: April 10, 2003

                          By: /S/ ESSA MASHNI
                              ------------------------------------------------
                              Essa Mashni, Director
                              Date: April 10, 2003


                                      -16-

<PAGE>




CERTIFICATIONS

 I, M. J. Shaheed, certify that:

                  1. I have  reviewed  this year end  report  on Form  10-QSB of
AuGRID Corporation;
                  2.  Based  on my  knowledge,  this  year end  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 year end report;
                  3. Based on my knowledge, the financial statements,  and other
financial  information  included in this year end 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 year end 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 year end 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 year end  report  (the
"Evaluation  Date");  and (c) presented in this year end 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 year end 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.


April 9, 2003
/s/ MJ SHAHEED
-------------------------------------
M. J. Shaheed
Chief Executive officer and President



                                      -17-

<PAGE>




 I, Stan Chapman, certify that:

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

     2.  Based on my  knowledge,  this  year end  report  does not  contain  any
untruestatement 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
year end report;

     3. Based on my knowledge,  the financial  statements,  and other  financial
information  included in this year end 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 year end 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 year end 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 year end report (the  "Evaluation  Date");  and
(c) presented in this year end 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
year end  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.


April 9, 2003
/s/ STAN CHAPMAN
 --------------------------
Stan Chapman
Treasurer
(i)

                                      -19-


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