What part of this don't you understand:
CORPORATE ACTION #1
NAME CHANGE TO GLYECO, INC.
We are currently a “shell” company with no assets and nominal operations and our current name, Environmental Credits, Ltd., does not have any significance to our Company or operations or future plans. On September 21, 2011, we entered into a non-binding Letter of Intent (the “Letter of Intent”) with Global Recycling Technologies, Ltd., a Delaware corporation and privately-owned operating company (“Global Recycling”), with respect to the principal terms and conditions pursuant to which we would purchase all of the issued and outstanding shares of capital stock of Global Recycling by the way of a reverse triangular merger transaction (the “Reverse Merger”) pursuant to an Agreement and Plan of Merger (the “Reverse Merger Agreement”) between us, a wholly-owned subsidiary of ours which will be formed for the purposes of consummating the Reverse Merger (“Merger Sub”), and Global Recycling. We and Global Recycling anticipate entering into and completing the Reverse Merger transaction by December 31, 2011, although the parties have not entered into a definitive merger agreement as of the date of this Information Statement and there can be no assurances that transaction will be consummated. The approval of the Company stockholders is not required to consummate the Reverse Merger.
Under the proposed Reverse Merger Agreement,
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