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AUGC about to ut. I put in a very small test sell at .0004 just before the open and it filled a few mins ago. Indicating we only have a few orders left at .0004 imo before we see an UT. It's primed with news right around the corner. .001?
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound
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AUGC nice news out today preview of things to come AuGRID Corporation Takes Another Step Forward Aug 29, 2006 10:35:00 AM 2006 PrimeZone Media Network VINELAND, N.J., Aug. 29, 2006 (PRIMEZONE) -- AuGRID Corporation announced today that its board of directors has approved the restructuring of AuGRID as a holding company. The board has also approved a proposed name change to AuGRID Global Holdings Corp.
Due to various international and domestic business opportunities, the management has determined that restructuring AuGRID as a holding company, best suits the Company's current business model. AuGRID will become a vehicle to acquire, or partner with, companies that demonstrate the potential for rapid growth.
Through its strategic partner, Primergy International of Hong Kong, AuGRID has already identified several exciting acquisition targets in China.
CEO, M.J. Shaheed stated, "We are now poised to take advantage of numerous diverse opportunities available to us. With our new structure, plus a strong shareholder base and a broad capitalization, AuGRID as a holding company makes common sense. AuGRID management is looking forward to building each subsidiary with a view to ultimately enhancing shareholder value."
AuGRID Corporation's current capital structure is well suited for our holding company and micro acquisition model.
Note: These comments were made last week by MJ Shaheed when he returned the phone call of a potential investor. These comments are now confirmed by today's PR...
....We've looked at a couple of acquisitions, and those acquisitions are within our core competency...consumer electronics, however there are other opportunities that Augrid would like to take advantage of, in an acquisition format, that are not only revenuing, but are profitable.
Under the former structure, we would not be able to take advantage of those opportunities or we would be able to, but there would be a billion questions, and a bunch of screaming people on the board
So we simplified this by changing ourselves over to a holding company, and wholly owning subsidiaries.
I can't tell you the name of those acquisitions, and I can't tell you when they're going to happen, but we are in the process of having the accounting done, not just the accounting, but the auditing of the numbers..but based on SEC standards and NASDAQ standards, that it would qualify, once the numbers were consolidated, it would qualify Augrid to make application for the XXXX (higher exchange)..
It would qualify us based upon the revenues, primarily the revenues, and the number of years revenues. I want to stay out of the danger zone and like I said, I don't want to talk about what that acquisition is, but it allows us to diversify into other areas that are profitable, and have a history.
My concern is to get my shareholders PPS up, and up very nicely. The only way for me to realistically do that is to do acquisitions.
We have two in our sights
You know that in the press release, we mention China. China is a very real situation for us. China lost the battle on communism. Capitalism won. Here are some of the things that are happening. In the PR, we've stated our newly formed relationship with Primergy. We've started the process, and paid for the process to become incorporated in Hong Kong, and open an office there in HK.
It has a duality in nature. We need to have someone on the ground there who speaks the language, and shares an office just for basic business purposes.. Also, we don't want to have to pay a translator everytime we need to have financial documents done. another 10, 15, 20K each time...this relationship works out perfectly for us. Gives us an office space there, takes care of our translating needs, and acts as a representative to acquire assets. What China is doing right now is privatizing many government owned industries.
They're selling them for pennies on the dollar, so AUGRID, obviously using US currency, would be acquiring some of those assets under the holding companies. Of course the acquisition of those assets, has to be heavily scrutinized, the appraisal of those assets carefully reviewed.
We're moving back to a brick and mortar operation. We want to give our shareholders really something solid, their shares backed up by something that's very solid. I think the market is moving back in that direction, we're right in step there... We really do have a couple of acquisitions out of China that are in the process of being negotiated, we've just received their financials, and their financials are being audited right now. by a PCBOB auditing firm I cannot say who they (the auditor) are.
Investor: in the past day, there are suddenly 20 MM, including two that are well known to be used in this type of financing...
Shaheed: laughing...I think there are going to be some very very ...I'm heading into a grey zone here...but what I've done...well, every ceo has to have a little bit of ego, and has to be a little nuts to do this job..that driving force that never quits. I held on as long as I could to stay within a strict consumer electronnic/defense, to stay within those disciplines....but now I've realized that it's not about me.
I think that any CEO, who is a good CEO - and I mean moral, ethical- who has watched the news over the past few months, and seeing all those individuals heading over to the penitentiary, really kinda puts you on your toes. That had alot to do with me saying "I'm going to stay away from the speculative things for my shareholders....
I'm going to go to the brick and mortar type acquisitions, I'm going to a holding company, I'm going to use the most punishing strict form of accounting that the SEC allows and requires", and I can say that that is one of the positive things that's come out of this
The second positive thing is...there are going to be alot of millionaires made out of this deal...and it's going to be done the right way.
-------------------- I may be wrong, but I don't think so....
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Identifying AuGRID's Path to Revenue Aug 31, 2006 9:45:00 AM 2006 PrimeZone Media Network
VINELAND, N.J., Aug. 31, 2006 (PRIMEZONE) -- The AuGRID/Primergy Hong Kong collaboration has identified two entities for targets of acquisition; Primergy has started negotiations on behalf of AuGRID. In total there are three such companies of interest: two in China, and one local. Management's encouragement arises from possibilities due to an asset, revenue and profit change if acquired, that could result in qualification for placement on a different exchange. The corporation's acquisition targets in question gross no less than $2.5 million per fiscal annum minimum. "We look forward to updating you with a progress report soon," states M.J. Shaheed, who will be visiting one of the acquisition targets within the next two weeks to review fiscal data that will be prepared for the accounting and PCAOB certification process. The remaining companies of interest are in China, which Primergy is working the preliminaries on the accounting and regulation compliance for the U.S. markets.
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Identifying AuGRID's Path to Revenue Thursday August 31, 9:45 am ET
VINELAND, N.J., Aug. 31, 2006 (PRIMEZONE) -- The AuGRID/Primergy Hong Kong collaboration has identified two entities for targets of acquisition; Primergy has started negotiations on behalf of AuGRID. In total there are three such companies of interest: two in China, and one local. Management's encouragement arises from possibilities due to an asset, revenue and profit change if acquired, that could result in qualification for placement on a different exchange. The corporation's acquisition targets in question gross no less than $2.5 million per fiscal annum minimum. ``We look forward to updating you with a progress report soon,'' states M.J. Shaheed, who will be visiting one of the acquisition targets within the next two weeks to review fiscal data that will be prepared for the accounting and PCAOB certification process. The remaining companies of interest are in China, which Primergy is working the preliminaries on the accounting and regulation compliance for the U.S. markets
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