GlyEco (GLYE) 8-K Entry into a Material Definitive Agreement

Exhibit 99.2

Global Recycling Technologies, Ltd. & Subsidiary

Interim Consolidated Balance Sheets

As of September 30, 2011 and December 31, 2010

	September 30, 2011			December 31, 2010
	(Unaudited)			(Audited)
Current Assets
Cash	$	102,031			5,103
Accounts Receivable		-			54,397
Total assets	$	102,031			59,500
Liabilities and Shareholders' Deficit
Accounts payable		149,781			375,617
Due to related parties		507,300			490,800
Interest payable		361,353			277,777
Convertible note payable		1,000,000			1,000,000
Total liabilities		2,018,434			2,144,194
Shareholders’ Deficit
Common stock: 100,000,000, $0.00025 par value shares authorized; 11,481,952 and 11,036,552 shares    issued and outstanding as of September 30, 2011 and December 31, 2010, respectively		2,871			2,759
Preferred stock: 10,000,000, $0.00025 par values shares authorized, none issued		-			-
Additional paid-in capital		5,166,394			4,721,305
Options and warrants outstanding		107,347			82,447
Accumulated deficit		(7,193,014	)		(6,891,205	)
Total shareholders' deficit		(1,916,402	)		(2,084,694	)
Total liabilities and shareholders' deficit	$	102,031			59,500

Global Recycling Technologies, Ltd. & Subsidiary

Interim Consolidated Statements of Operations

For periods ended September 30, 2011 and 2010

	For the 3-month period ended  September 30					For the 9-month period ended September 30
	2011		2010			2011			2010
	(Unaudited)		(Unaudited)			(Unaudited)			(Unaudited)
Net Sales	$	200,517		270,991			498,569			554,183
Cost of goods sold		105,413		117,127			372,548			449,529
Gross profit		95,104		153,864			126,021			104,654
Expenses
Executive compensation		89,100		89,500			287,040			382,330
Professional fees		75,645		66,318			119,491			85,510
General and administrative		37,237		28,481			84,365			86,116
Total expenses		201,983		184,298			490,896			553,956
Other income and expenses
Interest income		83		76			357			240
Interest expense		36,750		32,489			110,640			90,355
Gain on debt forgiveness		157,399		-			157,399			-
Gain on fixed assets		16,000		-			16,000			-
Total other income and expenses		136,732		(32,413	)		63,116			90,115
Income (loss) from operations before income tax		29,854		(62,847	)		(301,759	)		(539,417	)
Income taxes		-		50			50			50
Net profit (loss)	$	29,854		(62,897	)		(301,809	)	$	(539,467	)
Primary and fully diluted loss per share		0.00		(0.01	)		(0.03	)	$	(0.05	)

Global Recycling Technologies & Subsidiary

Interim Statement of Shareholders' Deficit

For periods ended December 31, 2010, and September 30, 2011

	Common shares		Par Value		Additional Paid-in Capital		Options and Warrants		Accumulated Deficit			Totals
Balances 12/31/09		7,055,833	$	1,764	$	4,527,951	$	4,790	$	(5,966,009	)	$	(1,431,504	)
Shares for cash		58,559		15		146,468							146,483
Warrants and Options for services								67,777					67,777
Warrants for forbearance								9,880					9,880
Warrants exercised		3,922,160		980		46,886							47,866
Loss for the year										(925,196	)		(925,196	)
Balances 12/31/10		11,036,552	$	2,759	$	4,721,305	$	82,447	$	(6,891,205	)	$	(2,084,694	)
Shares for cash		445,000		112		444,889							445,000
Warrants exercised		400		-		200							200
Warrants for forbearance								24,900					24,900
Income (loss) for the period										(301,809	)		(301,809	)
Balances 9/30/11		11,481,952		2,871		5,166,394		107,347		(7,193,014	)		(1,916,402	)

Global Recycling Technologies & Subsidiary

Interim Consolidated Statements of Cash Flows

For periods ended September 30, 2011 and 2010

	For the 9-month period ended September 30
	2011			2010
	(Unaudited)			(Unaudited)
Net Cash Flow From Operating Activities
Net gain (loss) from operations	$	(301,809	)		(539,467	)
Adjustments to reconcile net loss to net cash used by operating activities
Warrants and Options granted for services		24,900
Bad debt expense					5,624
(Increase) decrease in accounts receivable		54,397			83,674
Increase (decrease) in accounts payable		(225,836	)		(2,398	)
Increase (decrease) in related party payable		16,500			174,800
Increase (decrease) in accrued interest		83,577			90,276
Net cash used by operating activities		(348,272	)		(187,490	)
Investing Activities		-			-
Net cash for investing activities		-			-
Financing Activities
Proceeds from the sale of common stock		445,200			176,349
Net cash provided by financing activities		445,200			176,349
Increase (decrease) in cash		96,928			(11,142	)
Cash at the beginning of the period		5,103			86,174
Cash at end of period	$	102,031			75,032
Interest paid during period		-			-
Taxes paid during period		50			50
Non Cash Transactions
Disposition of assets for services	$	16,000			-
Debt forgiveness		157,399			-

Global Recycling Technologies, Ltd. and Subsidiary

Notes to the Interim Financial Statements

Unaudited

NOTE 1 - Organization and Nature of Business

Global Recycling Technologies, Ltd. (the Company) was incorporated in Delaware on July 11, 2007.  The Company has principal offices in Phoenix, Arizona. The Company was formed to acquire the assets of companies that recycle and process waste ethylene glycol and to apply a newly developed proprietary technology to produce ASTM E1177 Type I virgin grade recycled ethylene glycol to end users throughout North America.

In management’s opinion all of the adjustments necessary for a fair statement of the results of each of the interim periods presented ended September 30, 2010 and 2011 have been made, such adjustments are of a normal recurring nature. These interim financial statements should be read in conjunction with our 2010 audited financial statements.

NOTE 2 – Related Party Transactions

The Company uses consultants to provide a variety of services, including legal, computer, accounting, marketing, strategic planning, and engineering. Mr. John Lorenz, the Company's CEO, provides management consulting services to the Company through Barcid Investment Group (Barcid), a corporation solely owned by Mr. Lorenz. Barcid was paid $79,040 and $47,200 for consulting services at September 30, 2011 and 2010, respectively, and was owed $247,300 at September 30, 2011, and $184,300 at September 30, 2010.

CyberSecurity, Inc., a corporation owned by Janet Lorenz, wife of John Lorenz, was paid $60,500 and $32,000 for consulting services at September 30, 2011 and 2010, respectively, and was owed $30,000 at September 30, 2011, and $46,000 at September 30, 2010.

As of September 30, 2011 and December 31, 2010, an affiliate, with thirteen percent beneficial ownership, of the Company was owed $230,000 for consulting services provided on behalf of the Company,

NOTE 3 – Commitments and Contingencies

Rental Agreements

The Company rents one office space on a monthly basis under an unwritten rental agreement.   The monthly rent under this agreement is approximately $300.