I'm not sure if the coding is correct but I get a file not found error with my dim statement:
Dim mystreamreader As New StreamReader("C:\test.txt", True) if I change it to ("C:\Some_Directory_Name\test.txt", true) i get an error stating that the file is being used by another process.

From every example I have read or examined this seems to be the standard in the Form_load event. I'm confused as to where is should go, along with all the other required code. What exactly goes where as in the Dim statement, what if anything goes in the open and save dialog events? Can I put everything into a btnclick event for say reading? this is what I have so far.

Code:
Private Sub frmMain_Load(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles MyBase.Load

        Dim mystreamreader As New StreamReader("C:\test.txt", True)
        Dim mystreamwriter As New StreamWriter("C:\test.txt", True)

        While mystreamreader.Peek <> -1
            Me.lbxInput.Items.Add(mystreamreader.ReadLine)
        End While
        mystreamreader.Close()
        mystreamreader.Dispose()

        For Each line As String In Me.lbxInput.Items
            mystreamwriter.WriteLine(line)
        Next
        mystreamwriter.Close()
        mystreamwriter.Dispose()
Code:
Private Sub OpenToolStripMenuItem_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles OpenToolStripMenuItem.Click
        OpenFileDialog1.InitialDirectory = "C:\test.txt"
        OpenFileDialog1.Title = "Select a File"
        OpenFileDialog1.FileName = ""
        OpenFileDialog1.Filter = "Text Files (*.txt)|*.txt"
        OpenFileDialog1.FilterIndex = 1
    End Sub

    Private Sub SaveAsToolStripMenuItem_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles SaveAsToolStripMenuItem.Click
        SaveFileDialog1.InitialDirectory = "C:\test.txt"
        SaveFileDialog1.Title = "Specify destination filename"
        SaveFileDialog1.Filter = "Text files (*.txt)|*.txt"
        SaveFileDialog1.FilterIndex = 1
        SaveFileDialog1.OverwritePrompt = True
    End Sub