VINELAND, N.J., Nov. 3, 2006 (PRIMEZONE) -- AuGRID announces that it has set the required deposit for its custom Optipure monitors and is working diligently on expediting the e-commerce development to initiate the sale of the Optipure brand units.
In addition and at the advice of company management and its business advisors and based on its reorganization efforts, AuGRID's Board of Directors has voted to immediately withdraw the following information from its business ventures: Windham Resources, Alysium Corporation, Pro PTC, Barons Capital, armour plating, nanotechnology and thin cathode ray tube. The primary reason for this action is to allow the company to harness all its resources toward completing the recently announced acquisitions, both domestic and abroad, as well as aggressively pursue the rapid development of the Optipure TV division.
CEO M.J. Shaheed stated, "We regret having to abandon what we still believe are excellent growth industries. However, in light of the exciting opportunities recently made available to us and with the burgeoning growth of the plasma tv market, we feel it is in the company's best interest to channel all our efforts directly at achieving our immediate objectives. We stand now, with even further resolve to deliver a viable emerging growth company to our loyal shareholders in 2007."
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.