CLEVELAND, Aug. 30, 2005 (PRIMEZONE) -- AuGRID Corporation (Pink Sheets:AGRI) announces the utilization of ProPTC, a proprietary technology solution for publicly traded companies. This new solution will provide AuGRID with a complete operating platform and compliance manager. ProPTC provides everything needed to meet all compliancy requirements for such acts and regulations as Sarbanes-Oxley and HIPPA.
ProPTC has more than 15 product features and is a cost-effective solution designed to help companies better manage compliance across their network infrastructure, while operating all of their day-to-day functions on one operating platform. ProPTC's features enable SOX and HIPPA compliancy and provide complete accounting software, DTC reports, stockholder information and much more. "This solution is critically important for our company and is a key element to the organization's restructuring and focus on compliance," stated MJ Shaheed, President of AuGRID Corporation. "ProPTC facilitates compliancy and will enable us to operate our businesses with a single application."
AuGRID Corporation and its subsidiaries are technology based organizations.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AuGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AuGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AuGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AuGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.