VINELAND, N.J., Nov. 29, 2006 (PRIME NEWSWIRE) -- AuGRID Global Holdings Corp, (Pink Sheets:AUGC), announced that it is now analyzing the shareholders list obtained from the transfer agent, DTC and the NOBO list. The company is studying the irregularities in the trading of its shares to determine whether any short position requires resolution. AuGRID has also approached experts in the field to submit a professional analysis of this information. CEO M.J. Shaheed stated, "The NASD and SEC regulations regarding the 'shorting' of OTC.PK securities are very stringent and specific. AuGRID intends to take all available data and analyses under consideration before taking the necessary actions to ensure that its shareholders are playing on a level playing field."
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.