On January 31, 2013, the Parties entered into an Amendment No. 2 to Asset Purchase Agreement (the "Amendment No. 2"), pursuant to which the Parties effectuated the final allocation of the purchase price for the transaction. The Parties agreed to an aggregate purchase price of $150,000 consisting of (i) $15,000 in cash, (ii) $35,000 in liabilities paid, and (iii) 200,000 shares of the Company's Common Stock with a fair value of $0.50 per share (based upon the volume of shares sold at this price for the same type of unregistered and restricted security).

The foregoing description of the Amendment No. 2 is qualified in its entirety by reference to the Amendment No. 2 to Asset Purchase Agreement, a copy of which is filed as an exhibit to this Form 8-K and is incorporated by reference herein.

The Company recently performed detailed financial analysis of the transaction and determined that it does not involve a significant amount of assets for purposes of Item 2.01 of Form 8-K. Accordingly, the Company is not required to disclose the financial statements or pro forma financial information set forth in Item 9.01 (a) and (b) of Form 8-K.

(d) Exhibits.

Exhibit Description of Exhibit:

Number:
2.1(1)    Asset Purchase Agreement, dated October 3, 2012, by and
          among Renew Resources, LLC (the Seller), Todd M. Bernard
          (the Selling Principal), and GlyEco Acquisition Corp. #5, an
          Arizona corporation and wholly-owned subsidiary of GlyEco,
          Inc. (the Buyer).

2.2(2)    Amendment No. 1 to Asset Purchase Agreement, dated October
          26, 2012, by and among Renew Resources, LLC, Todd M.
          Bernard, and GlyEco Acquisition Corp. #5.

2.2(3)      Amendment No. 2 to Asset Purchase Agreement, effective
          January 31, 2013, by and among Renew Resources, LLC, Todd M.
          Bernard, and GlyEco Acquisition Corp. #5.

(1) Filed as an exhibit to the Form 8-K filed on October 9, 2012, and incorporated by reference herein. Exhibits and schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be furnished to the Securities and Exchange Commission upon request.

(2) Filed as an exhibit to the Form 8-K/A filed on November 2, 2012, and incorporated by reference herein. Exhibits and schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be furnished to the Securities and Exchange Commission upon request.

(3) Exhibits and schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K and will be furnished to the Securities and Exchange Commission upon request.