AuGRID Retains Counsel to Probe Research Facility Agreement.Business Editors HOUSTON--(BUSINESS WIRE)--Feb. 12, 2004 AuGRID Corporation (AGRD), has retained Baker & Hostetler, LLP LLP - Lower Layer Protocol of Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. to examine possible litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against Ceravision Limited, U.K. in a potential claim of damages from non-performance related to AuGRID's Global Exclusive Licensing Agreement with Ceravision. Pursuant to the terms of the agreement and upon financing, AuGRID Corporation was to obtain specific prototypes and documentation to further its manufacturing and distribution of Field Emission Display (hardware) field emission display - (FED) A type of flat panel display in which field emitting cathodes bombard a phosphor coating causing it to emit light. A field emission display is similar to a cathode ray tube but only a few millimeters thick. (FED) flat panel screens from the English based research facility. AuGRID's payments, which exceeded 1.5 million dollars to Ceravision, were made to secure the agreement. To date the company has not received a viable operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon . "We have a responsibility to our shareholders, and more importantly, Ceravision has a responsibility to this company," said MJ Shaheed Noun 1. shaheed - Arabic term for holy martyrs; applied by Palestinians to suicide bombers Arabic, Arabic language - the Semitic language of the Arabs; spoken in a variety of dialects martyr, sufferer - one who suffers for the sake of principle , President of AuGRID Corporation. "We believe Baker & Hostetler is the right firm for this investigation." AuGRID Corporation is a technology based organization, specializing in the manufacturing, distribution and development of electronic and display devices, thermocouples, silicon carbide silicon carbide, chemical compound, SiC, that forms extremely hard, dark, iridescent crystals that are insoluble in water and other common solvents. Widely used as an abrasive, it is marketed under such familiar trade names as Carborundum and Crystolon. tools and nano (1) Billionth (10 to the -9th power). See space/time. (2) Refers to the nanotech industry in general. See nanotechnology. (3) See iPod nano. particle technology FORWARD LOOKING STATEMENT: This press release contains forward-looking statements and comments. The statements regarding AuGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "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. |
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