| DELAWARE                                                     |   | 33-0953557                                |
|--------------------------------------------------------------|--------|-------------------------------------------|
| State or other jurisdiction of incorporation or organization |   | (I.R.S. Employer Identification No.)      |
|                                                         |   |                                      |
| 433 Plaza Real, Suite 175                                    |   |                                      |
| Boca Raton, Florida                                          |   | 33432                                     |
| (Address of principal executive offices)                     |   | (Zip Code)                                |
|                                                         |   |                                      |
| 1 (800) 648-4287                                             |   |                                      |
| Registrant's telephone number, including area code           |   |                                      |
|                                                         |   |                                      |
| Securities registered pursuant to Section 12(b) of the Act:  |   | NONE.                                     |
|                                                         |   |                                      |
| Securities registered pursuant to Section 12(g) of the Act:  |   | Common Stock, $0.001 Par Value Per Share. |

| Large accelerated filer [__]                                             | Accelerated filer [__]        |
|--------------------------------------------------------------------------|-------------------------------|
| Non-accelerated filer [__] (Do not check if a smaller reporting company) | Smaller reporting company [X] |

----

----

|   |   |                                                                                                     |
|--------|--------|----------------------------------------------------------------------------------------------------------|
| 1.     |   | Report of Independent Registered Public Accounting Firm (Dale Matheson Carr-Hilton Labonte LLP);    |
| 2.     |   | Report of Independent Registered Public Accounting Firm (Mendoza Berger & Company);             |
| 3.     |   | Audited Financial Statements for the Years Ended December 31, 2011 and 2010, including:             |
|   | a.     | Balance Sheets at December 31, 2011 and 2010;                                                       |
|   | b.     | Statements of Operations for the years ended December 31, 2011 and 2010;                            |
|   | c.     | Statement of Stockholders’ Deficit for the period from January 1, 2010 to December 31, 2011;  |
|   | d.     | Statements of Cash Flows for the years ended December 31, 2011 and 2010; and                        |
|   | e.     | Notes to Financial Statements.                                                                           |

----

----

----

|                                                                                                                                                        |   | December 31, 2011 |       |   | December 31, 2010 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|------------|--------|-------------------|--------|
|                                                                                                                                                        |   |              |       |   |              |   |
| ASSETS                                                                                                                                                      |   |              |       |   |              |   |
|                                                                                                                                                        |   |              |       |   |              |   |
| Current assets                                                                                                                                              |   |              |       |   |              |   |
| Cash                                                                                                                                                        |   | $                 | 707        |   |              | $      | 5,400 |   |
| Accounts receivable                                                                                                                                         |   |              | 4,999      |   |              |   | 5,611 |   |
| Prepaids                                                                                                                                                    |   |              | -          |   |              |   | 999 |   |
| Total current assets                                                                                                                                        |   | $                 | 5,706      |   |              | $      | 12,010 |   |
|                                                                                                                                                        |   |              |       |   |              |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                                       |   |              |       |   |              |   |   |   |
|                                                                                                                                                        |   |              |       |   |              |   |   |   |
| Current liabilities                                                                                                                                         |   |              |       |   |              |   |   |   |
| Accounts payable                                                                                                                                            |   | $                 | 7,120      |   |              | $      | 56,019 |   |
| Accrued liabilities                                                                                                                                         |   |              | 20,438     |   |              |   | 53,011 |   |
| Note payable                                                                                                                                                |   |              | 20,264     |   |              |   | - |   |
| Due to related parties                                                                                                                                      |   |              | 139,684    |   |              |   | 84,813 |   |
| Total current liabilities                                                                                                                                   |   |              | 187,506    |   |              |   | 193,843 |   |
|                                                                                                                                                        |   |              |       |   |              |   |   |   |
| Stockholders' deficit                                                                                                                                       |   |              |       |   |              |   |   |   |
| Common stock $0.001 par value, 200,000,000 common shares authorized, 95,183,198 issued and outstanding at  December 31, 2011 ( 2010 - 89,883,198) |   |              | 95,183     |   |              |   | 89,883 |   |
| Additional paid in capital                                                                                                                                  |   |              | 1,228,565  |   |              |   | 1,167,085 |   |
| Accumulated deficit                                                                                                                                         |   |              | (1,517,213 | )      |              |   | (1,452,213 | ) |
| Accumulated other comprehensive income                                                                                                                      |   |              | 11,665     |   |              |   | 13,412 |   |
| Total stockholders' deficit                                                                                                                                 |   |              | (181,800   | )      |              |   | (181,833 | ) |
| Total liabilities and stockholders' deficit                                                                                                                 |   | $                 | 5,706      |   |              | $      | 12,010 |   |

----

|                                                              |   | Year ended December 31, |       |
|-------------------------------------------------------------------|--------|-------------------------|------------|
|                                                              |   | 2011                    |       |   | 2010 |   |
|                                                              |   |                    |       |   |   |   |
| Royalty income                                                    |   | $                       | 41,699     |   |   | $ | 50,379 |   |
|                                                              |   |                    |       |   |   |   |   |   |
| General and administrative expenses                               |   |                    | 138,328    |   |   |   | 93,594 |   |
| Loss before other items                                           |   |                    | (96,629    | ) |   |   | (43,215 | ) |
|                                                              |   |                    |       |   |   |   |   |   |
| Other items                                                       |   |                    |       |   |   |   |   |   |
| Interest expense                                                  |   |                    | (4,054     | ) |   |   | (706 | ) |
| Gain on extinguishment of debt                               |   |                    | 35,683     |   |   |   | - |   |
|                                                              |   |                    |       |   |   |   |   |   |
| Net loss                                                          |   | $                       | (65,000    | ) |   | $ | (43,921 | ) |
|                                                              |   |                    |       |   |   |   |   |   |
| Net loss per share - basic and diluted                            |   | $                       | (0.00      | ) |   | $ | (0.00 | ) |
|                                                              |   |                    |       |   |   |   |   |   |
| Weighted average number of shares outstanding - basic and diluted |   |                    | 92,584,020 |   |   |   | 89,883,198 |   |

----

|                         |   |          |       |   |       |   |   |    |   |   |        |   |   | Accumulated   |       |   |   |   |
|------------------------------|--------|---------------|------------|--------|------------|--------|--------|---------|--------|--------|-------------|--------|--------|---------------|------------|--------|--------|--------|
|                         |   | Common shares |       |   | Additional |   |   |    |   |   | Other       |   |   |          |       |
|                         |   | Number of     |       |   |       |   |   | Paid-in |   |   | Accumulated |   |   | Comprehensive |       |   |   |   |
|                         |   | Shares        |       |   | Amount     |   |   | Capital |   |   | Deficit     |   |   | Income        |       |   | Total  |   |
|                         |   |          |       |   |       |   |   |    |   |   |        |   |   |          |       |   |   |   |
| Balance at January 1, 2010   |   |          | 89,883,198 |   |       | $      | 89,883 |    |   | $      | 1,167,085   |   |   | $             | (1,408,292 | )      |   | $      | 13,412 |   |   | $ | (137,912 | ) |
| Net loss                     |   |          | -          |   |       |   | -      |    |   |   | -           |   |   |          | (43,921    | )      |   |   | - |   |   |   | (43,921 | ) |
|                         |   |          |       |   |       |   |   |    |   |   |        |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2010 |   |          | 89,883,198 |   |       |   | 89,883 |    |   |   | 1,167,085   |   |   |          | (1,452,213 | )      |   |   | 13,412 |   |   |   | (181,833 | ) |
| Shares issued for debt       |   |          | 5,300,000  |   |       |   | 5,300  |    |   |   | 61,480      |   |   |          | -          |   |   |   | - |   |   |   | 66,780 |   |
| Net loss                     |   |          | -          |   |       |   | -      |    |   |   | -           |   |   |          | (65,000    | )      |   |   | - |   |   |   | (65,000 | ) |
| Comprehensive loss           |   |          | -          |   |       |   | -      |    |   |   | -           |   |   |          | -          |   |   |   | (1,747 | ) |   |   | (1,747 | ) |
|                         |   |          |       |   |       |   |   |    |   |   |        |   |   |          |       |   |   |   |   |   |   |   |   |   |
| Balance at December 31, 2011 |   |          | 95,183,198 |   |       | $      | 95,183 |    |   | $      | 1,228,565   |   |   | $             | (1,517,213 | )      |   | $      | 11,665 |   |   | $ | (181,800 | ) |

----

|                                         |   | Year ended December 31, |    |
|----------------------------------------------|--------|-------------------------|---------|
|                                         |   | 2011                    |    |   | 2010 |   |
|                                         |   |                    |    |   |   |   |
| Cash flows from operating activities:        |   |                    |    |   |   |   |
|                                         |   |                    |    |   |   |   |
| Net loss                                     |   | $                       | (65,000 | ) |   | $ | (43,921 | ) |
|                                         |   |                    |    |   |   |   |   |   |
| Non cash items:                              |   |                    |    |   |   |   |   |   |
| Gain on extinguishment of debt               |   |                    | (35,683 | ) |   |   | - |   |
| Changes in operating assets and liabilities: |   |                    |    |   |   |   |   |   |
| Accounts receivable                          |   |                    | 612     |   |   |   | (725 | ) |
| Prepaids                                     |   |                    | 999     |   |   |   | - |   |
| Accounts payable                             |   |                    | 51,817  |   |   |   | (3,055 | ) |
| Accrued liabilities                          |   |                    | (32,573 | ) |   |   | (2,902 | ) |
| Accrued interest                             |   |                    | 4,056   |   |   |   | - |   |
| Due to related party                         |   |                    | 35,579  |   |   |   | (6,935 | ) |
| Net cash used in operating activities        |   |                    | (40,193 | ) |   |   | (57,538 | ) |
|                                         |   |                    |    |   |   |   |   |   |
| Cash flows from financing activities         |   |                    |    |   |   |   |   |   |
| Note payable                                 |   |                    | 20,000  |   |   |   | - |   |
| Due to related parties                       |   |                    | 15,500  |   |   |   | 49,500 |   |
| Net cash from financing                      |   |                    | 35,500  |   |   |   | 49,500 |   |
| Net decrease in cash                         |   |                    | (4,693  | ) |   |   | (8,038 | ) |
| Cash, beginning                              |   |                    | 5,400   |   |   |   | 13,438 |   |
| Cash, ending                                 |   | $                       | 707     |   |   | $ | 5,400 |   |
|                                         |   |                    |    |   |   |   |   |   |
| Cash paid for:                               |   |                    |    |   |   |   |   |   |
| Income tax                                   |   | $                       | -       |   |   | $ | - |   |
| Interest                                     |   | $                       | -       |   |   | $ | - |   |
|                                         |   |                    |    |   |   |   |   |   |
| Non-cash transactions:                       |   |                    |    |   |   |   |   |   |
| Shares issued for debt                       |   | $                       | 53,000  |   |   | $ | - |   |

----

----

|                                                                                                                                                         |   | December 31, |    |   | December 31, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|--------------|--------|
|                                                                                                                                                         |   | 2011         |    |   | 2010         |   |
| Due to a company controlled by a director – unsecured, 0% interest, due on demand                                                                      |   | $            | 37,579  |   |         | $      | 1,500 |   |
| Due to a company controlled by a relative of a major shareholder – unsecured, 0%  interest, due on demand                                    |   |         | 33,107  |   |         |   | 33,107 |   |
| Due a major shareholder – unsecured, 8% interest, due on demand                                                                                        |   |         | 15,165  |   |         |   | - |   |
| Convertible notes due to a major shareholder and a company controlled by a relative of a major shareholder – unsecured, 7% interest, due on demand (a) |   |         | 53,833  |   |         |   | 50,206 |   |
| Due to related parties                                                                                                                                       |   | $            | 139,684 |   |         | $      | 84,813 |   |

----

|                            |   | December 31, 2011 |    |   | December 31, 2010 |   |
|---------------------------------|--------|-------------------|---------|--------|-------------------|--------|
|                            |   |              | $       |   |              |   | $ |   |
| Net and comprehensive loss      |   |              | (65,000 | )      |              |   | (43,921 | ) |
| Statutory tax rate              |   |              | 40.7    | %      |              |   | 42.7 | % |
| Expected income tax recovery    |   |              | (26,455 | )      |              |   | (18,754 | ) |
| Permanent differences           |   |              | (14,523 | )      |              |   | - |   |
| Effect of changes in tax rates  |   |              | 15,807  |   |              |   | 7,774 |   |
| Increase in valuation allowance |   |              | 25,171  |   |              |   | 10,980 |   |
|                            |   |              | -       |   |              |   | - |   |

|                                                       |   | December 31, 2011 |    |   | December 31, 2010 |   |
|------------------------------------------------------------|--------|-------------------|---------|--------|-------------------|--------|
|                                                       |   |              | $       |   |              |   | $ |   |
| Deferred income tax assets                                 |   |              |    |   |              |   |   |   |
|     Non-capital losses carried forward |   |              | 54,441  |   |              |   | 29,270 |   |
| Less:  Valuation allowance                       |   |              | (54,441 | )      |              |   | (29,270 | ) |
| Net deferred income tax assets                             |   |              | -       |   |              |   | - |   |

----

| 1.  | Financial Statements |
|----------|----------------------|

| 2.  | Financial Statement Schedules |
|----------|-------------------------------|

| 3.  | Exhibits |
|----------|----------|

| Exhibit | Description                                                                                                                                                                                                                                                                                                   | Status      |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|
| 3.1     | Articles of Incorporation filed as an exhibit to GlobeTrac’s registration statement on Form SB-2 filed on August 2, 2001, and incorporated herein by reference.                                                                                                                                         | Filed       |
| 3.2     | Bylaws filed as an exhibit to GlobeTrac’s registration statement on Form SB-2 filed on August 2, 2001, and incorporated herein by reference.                                                                                                                                                            | Filed       |
| 3.3     | Certificate of Amendment to Articles of Incorporation changing the Issuer’s name to GlobeTrac Inc. filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April 15, 2003, and incorporated herein by reference.                                                                                  | Filed       |
| 3.4     | Notification of Dissolution for Globetrac Limited dated March 14, 2007 filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April 16, 2007, and incorporated herein by reference.                                                                                                                    | Filed       |
| 10.1    | Master Distributorship Agreement dated June 19, 2002 among WebTech Wireless International, WebTech Wireless Inc. and Global Axxess Corporation Limited filed as an attached exhibit to GlobeTrac’s Form 8-K (Current Report) filed on September 11, 2002, and incorporated herein by reference.         | Filed       |
| 10.2    | Loan Agreement dated November 27, 2002 between GlobeTrac Inc. and David Patriquin with attached promissory note dated November 27, 2002, filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April 15, 2003, and incorporated herein by reference.                                                  | Filed       |
| 10.3    | Amendment Letter Agreement dated June 4, 2003, between WebTech Wireless International Inc. and Globetrac Limited for the purpose of amending terms of the Master Distributorship Agreement filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April 7, 2004, and incorporated herein by reference. | Filed       |
| 10.4    | Amendment Letter Agreement dated March 8, 2004 between WebTech Wireless International Inc. and Globetrac Limited for the purpose of amending terms of the Master Distributorship Agreement filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April 7, 2004, and incorporated herein by reference. | Filed       |
| 10.5    | Letter Agreement dated November 26, 2004, among Global Axxess Corporation Limited, WebTech Wireless International and WebTech Wireless Inc. filed as an exhibit to GlobeTrac’s Form 8-K filed on December 22, 2004, and incorporated herein by reference.                                               | Filed       |
| 10.6    | Termination and Transfer Agreement dated for reference November 1, 2004, among Global Axxess Corporation Limited, WebTech Wireless International and WebTech Wireless Inc. filed as an exhibit to GlobeTrac’s Form 8-K filed on November 14, 2005, and incorporated herein by reference.                | Filed       |
| 10.7    | Letter Agreement dated June 9, 2011, among GlobeTrac Inc., Angelo Scola, and Thermoforte Green, LLC. filed as an exhibit to GlobeTrac’s Form 8-K filed on June 10, 2011, and incorporated herein by reference                                                                                           |  Filed |
| 10.8    | Letter Agreement dated September 26, 2011, among GlobeTrac Inc., David Bernard, and Michael Avatar filed as an exhibit to GlobeTrac’s Form 8-K filed on September 30, 2011, and incorporated herein by reference                                                                                        | Filed       |
| 10.10   | License agreement with an option to purchase with Teak Shield Corp. and its owners Robert and Marion Diefendorf, titled Technology License Agreement with Option to Purchase                                                                                                                                  | Filed       |
| 14      | Code of Ethics filed as an exhibit to GlobeTrac’s Form 10-KSB filed on April 15, 2003, and incorporated herein by reference.                                                                                                                                                                            | Filed       |
| 31      | Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                     | Included    |
| 32      | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                       | Included    |

| 101.INS** | XBRL Instance filed as an exhibit to Globetrac’s Form 10-K filed on March 30, 2012 and incorporated herein by reference.                                  |   Filed |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------|
| 101.SCH** | XBRL Taxonomy Extension Schema. Filed as an exhibit to Globetrac’s Form 10-K filed on March 30, 2012 and incorporated herein by reference.                |   Filed |
| 101.CAL** | XBRL Taxonomy Extension Calculation Linkbase. Filed as an exhibit to Globetrac’s Form 10-K filed on March 30, 2012 and incorporated herein by reference.  |   Filed |
| 101.DEF** | XBRL Taxonomy Extension Definition Linkbase. Filed as an exhibit to Globetrac’s Form 10-K filed on March 30, 2012 and incorporated herein by reference.   |   Filed |
| 101.LAB** | XBRL Taxonomy Extension Label Linkbase. Filed as an exhibit to Globetrac’s Form 10-K filed on March 30, 2012 and incorporated herein by reference.        |   Filed |
| 101.PRE** | XBRL Taxonomy Extension Presentation Linkbase. Filed as an exhibit to Globetrac’s Form 10-K filed on March 30, 2012 and incorporated herein by reference. |   Filed |

----

|   |               |      | POLY SHIELD TECHNOLOGIES INC.                    |
|--------|--------------------|-----------|--------------------------------------------------|
|   |               |      |                                             |
|   |               |      |                                             |
|   |               |      |                                             |
| Date:  | September 10, 2012 | By:  | /s/ Mitchell R. Miller                           |
|   |               |      | MITCHELL R. MILLER                               |
|   |               |      | Chief Executive Officer and President            |
|   |               |      | (Principal Executive Officer)                    |
|   |               |      |                                             |
|   |               |      |                                             |
|   |               |      |                                             |
| Date:  | September 10, 2012 | By:  | /s/ John da Costa                                |
|   |               |      | JOHN DA COSTA                                    |
|   |               |      | Chief Financial Officer, Secretary and Treasurer |
|   |               |      | (Principal Financial Officer)                    |

|   |               |      |                                             |
|--------|--------------------|-----------|--------------------------------------------------|
|   |               |      |                                             |
|   |               |      |                                             |
| Date:  | September 10, 2012 | By:  | /s/ Mitchell R. Miller                           |
|   |               |      | MITCHELL R. MILLER                               |
|   |               |      | Chief Executive Officer and President            |
|   |               |      | Director                                         |
|   |               |      |                                             |
|   |               |      |                                             |
|   |               |      |                                             |
| Date:  | September 10, 2012 | By:  | /s/ John da Costa                                |
|   |               |      | JOHN DA COSTA                                    |
|   |               |      | Chief Financial Officer, Secretary and Treasurer |
|   |               |      | Director                                         |