Last $0.34 USD
Change Today -0.006 / -1.76%
Volume 425.0
GLYE On Other Exchanges
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OTC US
As of 8:10 PM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

glyeco inc (GLYE) Key Developments

GlyEco Plans Acquisitions

GlyEco, Inc. (OTCPK:GLYE) will continue to explore additional acquisitions and to create strategic alliances with companies producing or aggregating waste glycol.

GlyEco, Inc. Elects David Ide as New Board Member

GlyEco, Inc. announced that its shareholders elected a new board member, David Ide, at the company's annual shareholder meeting in Phoenix, Arizona, on October 24, 2014. As a successful technology entrepreneur and an experienced CEO, chairman, patented inventor, and director, David Ide brings a wealth of capabilities to the company's board. Since August 2010, Mr. Ide has served as an independent director, investor, and advisor to technology start-ups, including Spindle, Inc.

GlyEco, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

GlyEco, Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter ended September 30, 2014, revenue increased 10% to $1.3 million, compared to $1.2 million for the year-ago period. The increase in revenue was due to increased production capabilities and corresponding sales from new facilities added in 2013. The Company realized a profit margin of (15%), compared to (3%) for the year-ago period. The decrease in gross profit was primarily due to continued operating costs and increased investment in staffing, quality control, and other related expenses in preparation for the New Jersey Processing Center to transition to producing high volumes of T1TM material from multiple types of waste glycols. Net sales for the nine-months ended September 30 increased 19% to $4.5 million, as compared to $3.8 million for the same period 2013.

GlyEco, Inc., Q3 2014 Earnings Call, Nov 19, 2014

GlyEco, Inc., Q3 2014 Earnings Call, Nov 19, 2014

GlyEco, Inc. Signs Non-Binding Memorandum of Understanding with Haldor Topsoe

GlyEco, Inc. signed a non-binding Memorandum of Understanding (MOU) with Haldor Topsoe. The two companies entered the collaborative agreement to identify and develop waste glycol recycling facilities internationally. Under the terms of the MOU, each company will focus on its core competencies; Haldor Topsoe will leverage its significant engineering resources and international customer relationships, while GlyEco will leverage its proprietary glycol recycling technology. The two companies are jointly utilizing resources to identify initial projects for development. Once an initial glycol recycling plant project has been identified, a binding agreement is expected with additional agreements to follow tailored for each future project.

 

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Price/Sales 3.1x
Price/Book 1.5x
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TEV/Sales 2.7x
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