VINELAND, N.J., Dec. 19, 2006 (PRIME NEWSWIRE) -- To all public concerns, it is the very serious intention of AuGRID Global Holdings Corporation ("AGHC") (Pink Sheets:AUGC) to complete at least one of the aforementioned acquisitions in our previous press releases. What AuGRID has been very carefully planning is a stock buyback program to retire 4 billion shares during the first three quarters of 2007. Our strategy is simple. AGHC is in the process of acquiring firms that have revenues, history and profits. It is out of these revenues and profits that AGHC intends to acquire a portion of the float and retire the stock back to treasury. It is in the managements' analysis, and that of our advisors, that a float this size is counterproductive to the growth after a completed acquisition. The capitalization table should be reigned in through a stock buyback program.
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.