SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, D.C. 20549
                             FORM 10-QSB\A
                            AMENDMENT NO. 1

[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

               FOR THE QUARTERLY PERIOD ENDED: September 30, 2000

                                  OR

[ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM _________ TO _________


                    Commission File Number 1-15497
                        RecycleNet Corporation
         (Exact name of small business issuer in its charter)

                    Utah                               87-0301924
      (State or other jurisdiction of     (IRS  Employer Identification No.)
       incorporation or organization)


              7 Darren Place, Guelph, ON N1H 6J2, CANADA
     (Address of principal executive offices, including Zip Code)

                             519-767-2913
                   (Registrant's telephone number,)

Check whether the issuer (1) filed all reports required to be filed by
Sections 13 or 15(d) of the Exchange Act during the past 12 months (or
for such shorter period that the  registrant was required to file such
reports), and (2) has been subject to such filing requirements for the
past 90 days.

YES  [X]   NO [ ]

The number of common shares outstanding at September 30, 2000: 39,505,043

The number of class N shares outstanding at September 30, 2000: 66,591,781

<PAGE>


                    PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS



                RECYCLENET CORPORATION AND SUBSIDIARIES

                     INDEX TO FINANCIAL STATEMENTS

                                                                      Page

 Condensed Consolidated Balance Sheets - September 30, 2000 and
   December 31, 1999 (Unaudited)                                      F-2

 Condensed Consolidated Statements of Operations for the Three and
   Nine Months Ended September 30, 2000 and 1999 (Unaudited)          F-3

 Condensed Consolidated Statements of Cash Flows for the Nine Months
   Ended September 30, 2000 and 1999 (Unaudited)                      F-4

 Notes to Condensed Consolidated Financial Statements                 F-5


                                F-1


                RECYCLENET CORPORATION AND SUBSIDIARIES
                CONDENSED CONSOLIDATED BALANCE  SHEETS
                              (Unaudited)


                                                 September 30,  December 31,
                                                       2000        1999
                                                   ----------   ----------
                                ASSETS
Current Assets
 Cash                                              $  122,322   $   61,167
 Trade accounts receivable, net of $5,617 and
  $2,168 allowance for doubtful accounts,
  respectively                                         64,664       30,289
 Note receivable                                       17,500       15,000
                                                   ----------   ----------
   Total Current Assets                               204,486      106,456
                                                   ----------   ----------
Computer Equipment                                     21,372       13,693
 Less accumulated depreciation                         (8,774)      (3,520)
                                                   ----------   ----------
   Net Equipment                                       12,598       10,173
                                                   ----------   ----------
Total Assets                                       $  217,084   $  116,629
                                                   ==========   ==========

                 LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
 Trade accounts payable                            $   21,395   $   18,023
 Accrued liabilities                                    6,000        2,650
 Deferred revenue                                      61,106       43,328
                                                   ----------   ----------
   Total Current Liabilities                           88,501       64,001
                                                   ----------   ----------
Stockholders' Equity
 Class N common shares (and Class X shares of
  Amalco) - $0.01 par value; 70,896,789 shares
  authorized; 66,591,781 shares and 68,130,269
  shares outstanding, respectively                    665,918      681,303
 Common shares - $0.01 par value; 79,103,211
  shares authorized; 39,505,043 shares and
  10,643,947 shares issued and outstanding,
  respectively                                        395,050      106,439
 Additional paid-in capital                           196,745      447,926
 Accumulated deficit                               (1,129,130)  (1,183,040)
                                                   ----------   ----------
   Total Stockholders' Equity                         128,583       52,628
                                                   ----------   ----------
Total Liabilities and Stockholders' Equity         $  217,084   $  116,629
                                                   ==========   ==========

See the accompanying notes to condensed consolidated financial statements.

                                F-2

                RECYCLENET CORPORATION AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS  OF OPERATIONS
                              (Unaudited)
<TABLE>
<CAPTION>

                                       For the Three Months      For the Nine Months
                                        Ended September 30,      Ended September 30,
                                          2000        1999        2000         1999
                                       ----------  ----------  -----------  -----------
<S>                                   <C>         <C>         <C>          <C>
Sales                                  $  783,475  $  198,826  $ 1,685,814  $   316,280
Cost of Sales                             645,021     157,587    1,291,356      178,595
                                       ----------  ----------  -----------  -----------
Gross Profit                              138,454      41,239      394,458      137,685
                                       ----------  ----------  -----------  -----------
Operating Expenses
 General and administrative expenses      108,333      69,782      342,517      181,201
 Exchange gain                               (218)          -       (1,969)      (4,628)
 Impairment of marketing rights                 -           -            -      196,932
 Professional fees (paid with stock)            -           -            -      423,917
 Merger and acquisition expensed
   (paid with stock)                            -     400,000            -      400,000
                                       ----------  ----------  -----------  -----------
Total Operating Expenses                  108,115     469,782      340,548    1,197,422
                                       ----------  ----------  -----------  -----------
Net Income (Loss)                      $   30,339  $ (428,543) $    53,910  $(1,059,737)
                                       ==========  ==========  ===========  ===========
Basic Income (Loss) Per
  Common Share                         $     0.00  $    (0.05) $      0.00  $     (0.18)
                                       ==========  ==========  ===========  ===========
Diluted Income (Loss) Per
  Common Share                         $     0.00  $    (0.05) $      0.00  $     (0.18)
                                       ==========  ==========  ===========  ===========
</TABLE>
See the accompanying notes to condensed consolidated financial statements.

                                F-3


                RECYCLENET CORPORATION AND SUBSIDIARIES
                CONSOLIDATED STATEMENTS  OF CASH FLOWS
                              (Unaudited)
                                                   For the Nine Months
                                                   Ended September 30,
                                                 ------------------------
                                                    2000         1999
                                                 -----------  -----------
Cash Flows From Operating Activities
 Net income (loss)                               $    53,910  $(1,059,737)
 Adjustments to reconcile net loss to net
  cash used by operating activities:
   Depreciation                                        5,254        2,318
   Impairment of marketing rights                          -      196,932
   Common stock issued for services                        -      823,932
   Exchange gain                                      (1,969)      (4,628)
 Changes in assets and liabilities:
   Accounts receivable                               (34,375)     (24,513)
   Receivable from supplier                           (2,500)     (15,000)
   Accounts payable                                    3,372       (1,239)
   Accrued liabilities                                 3,350            -
   Deferred revenue                                   17,778       10,451
                                                 -----------  -----------
Net Cash Provided by (Used in)
 Operating Activities                                 44,820      (71,484)
                                                 -----------  -----------
Cash Flows From Investing Activities
 Purchase of equipment                                (7,679)      (8,342)
 Cash from acquisition of metalworld.com, Inc.        22,045            -

Net Cash Provided by (Used in) Investing         -----------  ------------
 Activities                                           14,366        (8,342)
                                                 -----------  ------------
Cash Flows From Financing Activities
 Proceeds of issuance of common shares                     -       109,475
                                                 -----------  ------------
Net Cash Provided by Financing Activities                  -       109,475
                                                 -----------  ------------
Effect of Exchange Rate Changes on Cash                1,969         8,914
                                                 -----------  ------------
Increase (Decrease) in Cash                           61,155        38,563

Cash at Beginning of Period                           61,167        55,257
                                                 -----------  ------------
Cash at End of Period                            $   122,322  $     93,820
                                                 ===========  ============

Non Cash Investing and Financing Activities - During March 1999, the
Company issued 833,717 common shares as compensation for services
valued at $423,917. Also during March 1999, the Company issued 386,900
shares to acquire Andela Products Limited and 7,877,421 shares to
acquire Garbalizer Machinery Corporation.

On July 14, 2000, the Company purchased all of the common stock of
metalworld.com, Inc. by issuing 27,322,608 shares of common stock. The
sole asset of metalworld.com, Inc. was $22,045 in cash.

See the accompanying notes to condensed consolidated financial statements.

                                F-4

                       RECYCLENET CORPORATION
       NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                             (UNAUDITED)


NOTE 1-ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

The accompanying condensed financial statements have been prepared  by
RecycleNet   Corporation  and  are  unaudited.  In  the   opinion   of
management,  the  accompanying unaudited financial statements  contain
all  adjustments  (consisting  of only normal  recurring  adjustments)
necessary for fair presentation in accordance with generally  accepted
accounting principles in the United States.

The  accompanying  unaudited interim  financial statements  have  been
condensed pursuant to the  rules and regulations of the Securities and
Exchange  Commission; therefore, certain information  and  disclosures
generally  included  in financial statements have  been  condensed  or
omitted.  These   financial statements should be read  in  conjunction
with  the  Company's  annual  financial  statements  included  in  the
Company's  annual report on Form 10-KSB as of December 31,  1999.  The
financial  position and results of operations of the  interim  periods
presented are not necessarily indicative of the results to be expected
for the year ending December 31, 2000.

Basis  of  Presentation  -  RecycleNet  Corporation  (RecycleNet)  was
incorporated  on December 22, 1997 under the laws of the  Province  of
Ontario,  Canada.  On March 19, 1999, RecycleNet was reorganized  into
Amalco,  a newly-formed, wholly-owned Ontario subsidiary of Garbalizer
Machinery  Corporation  (Garbalizer), a Utah  corporation,  under  the
terms  of  a  stock exchange agreement dated February  25,  1999  (the
Agreement).  Under  the terms of the Agreement,  the  shareholders  of
RecycleNet  exchanged each outstanding common share of RecycleNet  for
3.869  Class X shares (equity participating and non-voting) of  Amalco
and  3.869  Class  N  (voting  non-equity  participating)  shares   of
Garbalizer. The RecycleNet shareholders were issued 70,896,789 Class N
and  Class  X  shares. The Class N and Class X shares are  convertible
into  common shares on the basis of one Class N share and one Class  X
share  for each common share at the option of the Class N and Class  X
shareholders.   Prior  to  closing  the  Agreement,   the   Garbalizer
shareholders  held  7,877,427 common shares, after a  2-for-3  reverse
stock split, which remained outstanding after the reorganization.  The
RecycleNet  shareholders held the equivalent  of  90%  of  the  common
shares after the reorganization.

For  financial  reporting  purposes,  RecycleNet  was  considered  the
accounting acquirer. These financial statements have been restated for
all  periods presented for the effects of the 3.869-for-1 stock  split
and  for  the conversion of the RecycleNet common shares into Class  N
and  Class  X  shares.  In connection with the  Agreement,  Garbalizer
transferred all of its existing assets and operations to a corporation
under  the  control of its principal shareholder in exchange  for  the
assumption   by  that  corporation  of  all  of  the  liabilities   of
Garbalizer.  Garbalizer  thereby became a shell  corporation  with  no
operations  and no assets prior to the transaction. The common  shares
of  Garbalizer which remained outstanding were accounted for as having
been  issued in the transaction and were valued at zero which was  the
fair  value  of  the  net  assets of Garbalizer.  The  acquisition  of
Garbalizer was accounted for under the purchase method of accounting.

Consolidation  -  On March 19, 1999, Garbalizer changed  its  name  to
RecycleNet   Corporation.  The  accompanying  consolidated   financial
statements  include the accounts of RecycleNet Corporation  (the  Utah
corporation)  from  the  date  of its  acquisition,  the  accounts  of
RecycleNet  (the Ontario corporation renamed Amalco), the accounts  of
Andela  Products  Limited from the date of its  acquisition,  and  the
accounts of Metalworld.com, Inc. from the date of its acquisition. The
consolidated  entity is referred to hereafter as the  Company.  Inter-
company   accounts   and   transactions  have   been   eliminated   in
consolidation.

                                F-5

Note  Receivable  - At September 30, 2000, the Company  had  loaned  a
total  of $17,500 to Andela Tool & Machine. Repayment of the  loan  is
expected  by  December  31, 2000. The loan is unsecured,  non-interest
bearing and payment terms have not been established.

Revenue  Recognition  - Revenue from services are  recognized  as  the
services are performed. Web site advertising services are charged on a
monthly basis without guarantee of the number of customers viewing the
web  site.  Revenues  from the Internet Portal Services  business  are
derived  from individual custom packages that include any  combination
of  the  following services: subscription fees, HTML linking services,
advertising,  and web page construction. Each package  is  unique  and
distinctions  between  services are not made for accounting  purposes.
The  portal service revenues are derived from a combination  of  fees,
which  are  negotiated individually with each customer.  The  customer
buys  a combination of services specific to his needs, upon which  the
fees are based. The Company charges a per-client, per-month repetitive
service fee, regardless of the services provided. With respect to  the
Internet portal sites that facilitate e-commerce trading, the  company
only  charges  a  monthly  fee  for  services  that  are  provided  to
customers.  The Company does not charge sellers or buyers a percentage
of the value of their transactions nor does the Company charge a back-
end  fee.  Customer payments received in advance of providing services
are   recorded   as   deferred  revenue  and   are   then   recognized
proportionately as services are performed.

Sales  of  equipment  over the Internet are  recognized  on  the  date
payment  is  received  and any right of return  by  the  customer  has
expired.

NOTE 2-BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

  Basic income (loss) per common share was calculated by dividing, net
income   (loss)  by  the  weighted-average  number  of  common  shares
outstanding, Diluted income (loss) per common share was calculated  to
give  effect to potentially issuable common shares except during  loss
periods when those potentially issuable shares were anti-dilutive.

The following table shows the weighted average number of common shares
used  in the calculation of basic and diluted income (loss) per common
share:

<TABLE>
<CAPTION>
                                             For the Three Months       For the Nine Months
                                              Ended September 30,       Ended September 30,
                                            ------------------------  ------------------------
                                               2000         1999         2000         1999
                                            -----------  -----------  -----------  -----------
<S>                                        <C>          <C>          <C>          <C>
   Net income (loss)                        $    30,339  $  (428,543) $    53,910  $(1,059,737)
                                            ===========  ===========  ===========  ===========
  Weighted-average number of common
   shares used in basic income (loss) per
   common share calculation                  35,184,349    9,140,404   18,920,084    6,052,352
  Incremental potentially issuable common
   shares from assumed conversion of
   Class N common shares                     66,754,687            -   67,632,101            -
                                            -----------  -----------  -----------  -----------
  Weighted-average number of common
   shares and dilutive potential common
   shares used in diluted income (loss)
   per common share calculation             101,939,036    9,140,404   86,552,185    6,052,352
                                            ===========  ===========  ===========  ===========
</TABLE>
                                F-6

For the three and nine months ended September 30, 1999, 69,633,812 and
72,721,864  Class N (and Class X) shares, respectively, were  excluded
from the calculation of diluted loss per share.

NOTE 3-ACQUISITION OF METALWORLD.COM, INC.

The   Company  acquired  all  of  the  outstanding  common  stock   of
metalworld.com,  Inc. ("metalworld") by issuing 27,322,608  shares  of
common  stock primarily to Inter-Continental Recycling, Inc. and  Paul
Roszel  on  July  14,  2000.  Inter-Continental  Recycling,  Inc.   is
beneficially  owned by Paul Roszel, who is the President and  majority
shareholder  of  the  Company. Due to the fact that  the  Company  and
metalworld  are  entities  under common  ownership,  the  purchase  of
metalworld  has  been  accounted for  under  the  purchase  method  of
accounting  at  historical cost in a method similar to  a  pooling  of
interests.  The  only  asset  held  by  metalworld  at  the  date   of
acquisition was $22,045 in cash and metalworld had no liabilities. The
operations  of  metalworld  have been  included  in  the  accompanying
consolidated financial statements from July 14, 2000.

NOTE 4-STOCKHOLDERS' EQUITY

During  the  nine months ended September 30, 2000, 1,538,488  Class  N
common  shares  (and  Class X shares of Amalco)  were  converted  into
1,538,488 common shares.

NOTE 5-SEGMENT INFORMATION

The  Company has operations in two segments of its Internet  business,
namely:  Internet  Portal Services and Internet  Sales  of  Equipment.
Information  regarding the operations and assets of  these  reportable
business segments follows:

                                         Portal    Equipment
                                        Services     Sales         Total
                                       ----------  -----------  -----------
For the Nine Months September 30, 2000
   Sales                               $  399,009  $ 1,286,805  $ 1,685,814
   Net income (loss)                       54,551         (641)      53,910
   Assets                                 217,084            -      217,084
For the Nine Months Ended September
 30, 1999
   Sales                               $  151,565  $   164,715  $   316,280
                                                                ===========
   Segment profit (loss)                  (38,622)        (266) $   (38,888)
   Corporate expenses                                            (1,020,849)
                                                                -----------
   Net loss                                                      (1,059,737)
   Assets                                 116,629            -      116,629

During the quarter ended June 30, 2000, the Company internally changed
the  basis of segmentation from operating in only one segment  to  the
two  segments  presented  above. As can be  seen  above,  prior-period
segment  information  has  been  restated  to  conform  to  the   2000
presentation.

                                F-7

NOTE 6-SUBSEQUENT EVENTS

At  December  31, 2000, fiberglass.com, inc., a Utah corporation,  met
certain  criteria  for acquisition and on January 2, 2001,  RecycleNet
Corporation  acquired  all  of  the  outstanding  capital   stock   of
fiberglass.com, inc. The fiberglass.com shares were acquired primarily
from   current  holders  of  Class  N  shares  of  the  Company.   The
consideration  for  the acquisition was 32,500,650  shares  of  common
stock.  The  acquisition will be accounted for as a reorganization  of
entities under common control and recorded at the historical  cost  of
the  assets of fiberglass.com, inc. The assets of fiberglass.com, inc.
included  $108,798  in cash, the Internet portal, "Fiberglass  World,"
the  Internet  portal, "House of Glass," as well as the  domain  names
fiberglass.com,  glasschange.com,  and  glasschange.net    and   other
intangible  assets  relating to customers' access  to  these  Internet
portals.   There  were  no  outstanding  liabilities   or   debts   in
fiberglass.com, inc.

                                F-8

ITEM  2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL  CONDITION
AND RESULTS OF OPERATION

Cautionary Statement Regarding Forward-Looking Statements
---------------------------------------------------------
Certain  statements contained in this Section and  elsewhere  in  this
Form  10-QSB  regarding  matters that are  not  historical  facts  are
forward-looking  statements (as such term is defined  in  the  Private
Securities  Litigation  Reform Act of 1995).   Because  such  forward-
looking statements include risks and uncertainties, actual results may
differ  materially from those expressed or implied  by  such  forward-
looking statements. All statements that address operating performance,
events  or developments  that  management  expects  or anticipates  to
incur  in  the  future,  including statements relating  to  sales  and
earnings   growth  or  statements  expressing  general optimism  about
future operating results, are forward-looking statements. The forward-
looking  statements   are  based  on management's  current  views  and
assumptions   regarding future events and operating performance.  Many
factors could cause actual results to differ materially from estimates
contained   in   management's   forward-looking    statements.     The
differences may be caused by a variety of factors, including  but  not
limited  to  adverse  economic   conditions,   competitive  pressures,
inadequate  capital, unexpected costs, lower revenues, net income  and
forecasts,  the  possibility  of fluctuation  and  volatility  of  our
operating  results  and financial condition, inability  to  carry  out
marketing   and  sales plans and loss of key executives,  among  other
things.

Overview
--------
The  following  discussion of the financial condition and  results  of
operations  of  the  Company should be read in  conjunction  with  the
financial statements and notes related thereto, included elsewhere  in
this report.

RecycleNet  Corporation provides "Global Access to Recycling  Markets"
(GARM)  through  Internet portals that facilitate e-commerce  trading.
The  Company's  web sites are described in "Description  of  Business"
above.

Results of Operations
---------------------
RecycleNet   Corporation   (an  Ontario   Private   Corporation)   was
incorporated  on December 22, 1997 and purchased the ongoing  business
proprietorship of Mr. Paul Roszel. The Company operated  its  business
activities  and  continued  to expand its  operations  throughout  the
following   period.  RecycleNet  Corporation  (Ontario),   since   its
inception, has provided Internet services and has received all of  its
sales revenue from these activities.

On  March  19,  1999,  RecycleNet Corporation  (Ontario)  completed  a
reverse share acquisition with the Garbalizer Machinery Corporation, a
Utah  corporation.  None  of  the  previous  business  activities   of
Garbalizer Machinery Corporation were continued on in the new  parent.
Consequently,   none   of  the  operations  of  Garbalizer   Machinery
Corporation are discussed in the following financial analysis.

Revenues  from the Internet Portal Services business are derived  from
individual  custom  packages  that  include  any  combination  of  the
following   services:  subscription  fees,  HTML   linking   services,
advertising,  and web page construction. Each package  is  unique  and
distinctions  between  services are not made for accounting  purposes.
The  portal service revenues are derived from a combination  of  fees,
which  are  negotiated individually with each customer.  The  customer
buys  a combination of services specific to his needs, upon which  the
fees are based. The fees are recorded in total dollar amounts, as  the
Company  has no reasonable method available to subdivide the  revenues
on  its books. We believe there is no material difference in fees from
the various aspects of its web site services segment and therefore the
web  site  fees  from  the  individual  services  are  not  separately
identified.  The  business  model  requires  a  per-client,  per-month
repetitive  service  fee,  regardless of the services  provided.  With
respect  to  the  Internet  portal sites  that  facilitate  e-commerce
trading, the Company only charges a monthly fee for services that  are
provided to customers.  The Company does not charge sellers or  buyers
a  percentage of the value of their transactions nor does the  Company
charge a back-end fee.

The   two  other  business  segments,  Application  Services  Provider
services  (formerly known as "proprietary exchange software")  and  E-
commerce  Services  are  still  in  development,  except  for  selling
equipment  over the Internet. See "Business Segment 2"  and  "Business
Segment 3" in "Description of Business" above.

Throughout  the  reporting periods shown hereafter, common  stock  was
issued  for  various items (i.e. business and start-up  costs,  merger
costs   and  professional  fees).  United  States  generally  accepted
accounting  principles  requires  that  we  value  these   shares   at
reasonable current values when issued. The consolidated statements  of
operations reflect these expenses paid with stock as well as  services
and office facilities contributed by principal stockholders. To assist
the  readers  of  these financial statements, we have reported  normal
operational  sales and expenses and also itemized expenses  paid  with
stock   and   services   and  facilities  contributed   by   principal
stockholders. The expenses resulting from the issuance of common stock
and  from  the contributed services and facilities did not reduce  our
cash balances throughout the reporting periods.

Sales  Revenues  - Sales revenues recorded for the 3rd  quarter  ended
September 30, 2000 of $783,500 were $584,700 or 294% over the  similar
quarter in 1999.  Correspondingly, year to date revenues of $1,685,800
in  the  year 2000 were $1,369,500 or 433% over the similar period  in
1999.   Revenues derived from our portal business of $143,000 in  2000
were 159% over the same 3 month period ended September 30, 1999 and  9
month  revenues in 2000 of $399,000 were 163% over the similar  period
in 1999.

Sales  generated  from Andela Products Limited have been  strong  this
year  with  three month revenues ended September 30, 2000 of  $640,500
compared  to  $143,700 in the same period of 1999,  a  346%  increase.
Similarly,  year  to  date sales to Sept 30, 2000 of  $1,286,800  were
$1,122,100 over the results recorded in 1999.

Our Internet Marketing Program at Andela Products Limited has resulted
in  increased sales activities throughout this year.  Since we have no
history of strong sales over more than one year, we are not sure  that
these  sales  levels will continue into 2001 at the  current  rate  or
whether we are experiencing a bubble of sales activity this year.

Since  our  gross profit is being generated from our portal  business,
management  is  concentrating  on  increasing  these  revenues  on   a
continuing basis.

Our  first  full time sales person was added in January  of  1999  and
three  additional sales people were added later in 1999.  Progress  in
adding   sales   personnel  in  1999  has  resulted  in  substantially
increasing  sales revenues and as we add additional personnel  in  the
future, we look forward to continued sales revenue increases.

Gross  Profit - Gross Profit generated in the 3 months ended September
30, 2000 of $138,500 increased $97,300 or 236% over the similar period
in  1999.  Correspondingly, Gross Profit of $394,500 for the 9  months
this year was $256,800 or 186% over the similar period ended September
30, 1999.

This  Gross  Profit  is  being generated  essentially  by  our  portal
business as discussed above in our Sales Revenues section.  Management
continues  to  emphasize increased revenues in  this  section  of  our
business and we expect revenues to further increase both with  present
staff levels and also with additional personnel.

Operating Expenses - General & Administration Expenses of $108,300 for
the  3  months ended September 30, 2000 were $38,500 over the  similar
period  in 1999, while year to date expenses of $342,500 in 2000  were
$161,300 over the same period of 1999.

Salaries  and  related benefits comprise the largest  portion  of  the
expenses and account for $73,200 of the $108,300 expenses for the last
three months ended September 30, 2000 and $232,400 of the year to date
numbers.

Salaries  and  related  benefits increased by $110,800  for  the  nine
months  ended September 30, 2000 over the nine months ended  September
30,  1999.  This increase reflects the additional personnel that  were
added to our staff throughout 1999 at various times, but who have been
employed throughout the year 2000.  Our legal and accounting fees have
been  $5,700 higher in the 9 month period of 2000 over 1999  primarily
to  reflect  our  continuing  efforts to  maintain  current  quarterly
filings  and  to  respond  to our Securities and  Exchange  Commission
requirements.   Management is monitoring close control  on  all  other
expenses in order to improve operations.

The Company acquired Andela Products Ltd. by issuing 386,900 shares of
Class  N and Class X common stock on March 11, 1999. The common shares
issued  were recorded at their fair value of $196,932. The acquisition
was  accounted  for  using  the purchase  method  of  accounting.  The
acquisition was for the purpose of obtaining marketing rights to glass
recycling  equipment  produced  by  Andela  T  &  M  which  had   been
transferred  to  Andela Products Ltd. Accordingly, the purchase  price
was  allocated  entirely  to  the  marketing  rights.  Based  upon  an
assessment  of the estimated net future cash flows from the  marketing
rights,  as  evidenced by the lack of gross profit from  the  sale  of
glass  recycling  equipment after the purchase, management  determined
that  the  marketing rights were impaired and were written off  during
1999.

During  March  1999,  the Company issued 833,717 Class  N  shares  for
managerial, legal, accounting and operating services. The shares  were
recorded at their fair value of $423,917 or $0.51 per share based upon
the  price  shares  were issued for cash during that  same  time.  The
shares  were issued to individuals who consisted of employees  of  the
Company's  ISP  service provider, the president  of  the  Company,  an
employee of Inter-Continental, which is an affiliate of the Company, a
lawyer, and the internal accountant for the Company, as follows:

     Name                               Number of Shares
     -----                              ----------------
     Keith Winter                           10,832
     Mike Tansca                            10,832
     Mikael Prydz                          181,940
     John Robb                             386,900
     Gregory Hertzberger                    30,952
     Richard Ivanovick                     210,667
     Other rounding differences              1,594
                                        ----------
                                           833,717
                                        ==========

In  conjunction with the reorganization of RecycleNet, Mr. Paul Roszel
converted  2,000,000 Class N and Class X common shares into  2,000,000
common  shares  on  August 19, 1999. The shareholder  contributed  the
common shares to the Company and the shares were then reissued to  Mr.
John  C.  Brewer,  formerly  the  President  of  Garbalizer  Machinery
Corporation,  for  his  services and  assistance  in  the  merger  and
reorganization. The common shares issued were recorded at  their  fair
value  of  $400,000 or $0.20 per share based upon the market value  at
which  the  Company's  common  shares were  trading  at  the  time  of
issuance. The cost of the related services was charged to expense.

The profession fees and the merger and acquisitions expenses paid with
common  stock were one-time costs and will not continue and  were  not
incurred in 2000. These expenses were not paid out in cash and did not
reduce  our  bank  and cash balances nor did it affect  our  liquidity
position.


Net  Income  (Loss)  -The Net Profit results for  this  quarter  ended
September  30,  2000  of $30,300 is the 3rd consecutive  quarter  that
RecycleNet  Corporation has achieved a Profit.   In  the  1st  quarter
ended  March  31,  2000, Net Profit was $6,400 while the  2nd  quarter
ended  June  30,  2000  the Profit of $17,200  was  recorded,  a  169%
increase  over the first quarter.  Now we have a 76% increase  in  Net
Profit  or $13,100 over the 2nd quarter.  Sales Revenues of RecycleNet
are  continuing to surpass our expense levels resulting in Profits and
positive  cash  flow.  Management will continue to  encourage  revenue
growth  from our sales personnel while maintaining tight cost controls
on our operations.

The  year  1999 to September 30 recorded substantial losses,  most  of
this  attributed  to  the  issuance of stock  for  services  rendered.
Included  in  the  loss  of  $1,059,700 in  1999  was  $1,020,849  for
professional  fees,  impairment of marketing  rights  and  merger  and
acquisition costs.  Please note that these expenses did not affect our
cash flow, nor did it weaken our current financial condition.

Liquidity and Capital Resources
-------------------------------
The  Company's cash position of $122,300 is at its highest level since
inception, and represents an increase of $61,200 from the December 31,
1999  balance  of $61,200 and also a similar increase of $62,300  from
the June 30,2000 position.

Accounts  Receivable have increased $10,600 from  the  June  30,  2000
balance  of $54,100 and reflects directly the increase in our  monthly
sales activities.  The note receivable from our supplier, Andela  Tool
and Machinery, was reduced by a $5,000 payment during this quarter.

During  the  quarter, $7,700 was expended to purchased another  laptop
computer  and  a  projector that can transmit  data  from  our  laptop
computer screen for presentation purposes.

Conversely,  trade accounts payable have increased  $16,500  from  the
June 30, 2000 balance and represents only current payables.

Deferred  Revenue also continued to increase to $61,100 from June  30,
2000  balance of $49,900 and the December 31, 1999 balance of $43,300.
This  is  directly attributable to our increased sales  activity  with
more  services  being  sold at higher values and also  these  services
being  paid by the customer in advance.  These revenues will be  taken
into  income  proportionately each month in the future as  we  deliver
these services to our customers.

Management's  effort  during the 9 months to September  30,  2000  has
produced  Net Profits of $53,900 during the period.  Our current  cash
balance of $122,300 compared to our opening January 1, 2000 balance of
$61,200 is a marked improvement of our financial position.

With   no  current  bank  loan  obligations  and  no  long-term   debt
securities,  and  only  small  amounts  of  current  liabilities,  our
positive  cash flow continues to increase our already strong financial
position.  Management will reinvest this positive cash flow  into  our
business   to   improve  our  business  activities   while   improving
shareholder value.

Acquisition  of fiberglass.com - At December 31, 2000, fiberglass.com,
inc., a Utah corporation, met certain criteria for acquisition and  on
January   2,  2001,  RecycleNet  Corporation  acquired  all   of   the
outstanding  capital stock of fiberglass.com, inc. The  fiberglass.com
shares  were acquired primarily from current holders of Class N shares
of  the  Company. The consideration for the acquisition was 32,500,650
shares  of common stock. The acquisition will be accounted  for  as  a
reorganization  of entities under common control and recorded  at  the
historical  cost of the assets of fiberglass.com, inc. The  assets  of
fiberglass.com,  inc. included $108,798 in cash, the Internet  portal,
"Fiberglass World," the Internet portal, "House of Glass," as well  as
the  domain names fiberglass.com, glasschange.com, and glasschange.net
and  other  intangible assets relating to customers' access  to  these
Internet  portals. There were no outstanding liabilities or  debts  in
fiberglass.com, inc.

The fiberglass.com shares were acquired primarily from current holders
of  Class  N  shares  of  the registrant.   The  class  N  shares  are
convertible  into  common shares of the registrant  on  a  one-for-one
basis   at  the  discretion  of  the  holders  thereof.   The  largest
shareholder  of  fiberglass.com, inc. was Inter-Continental  Recycling
Inc.,  which  received 15,637,852 common shares of the registrant,  or
48%  of the shares issued by it, in the acquisition. Inter-Continental
Recycling,  Inc.,  owns 58,033,269 Class N shares of  the  registrant,
which  is  87.34% of the currently outstanding Class N shares  of  the
Company.  Inter-Continental is beneficially owned by Paul Roszel,  the
President  and a director of the registrant.  In addition, Mr.  Roszel
owns  of  record 5,526,312 Class N shares, or 8.3% of the  outstanding
class  N  shares  of  the registrant and he and his wife  received  an
aggregate  of  1,785,750 common shares of the  Company,  directly  and
indirectly, in exchange for their shares in fiberglass.com, inc.

Richard  Ivanovick,  an  officer and director of  the  Company,  holds
directly and indirectly an aggregate of 636,422 Class N shares of  the
registrant and received 2,857,200 common shares in exchange for shares
in fiberglass.com, inc. owned by him. Keith A. Deck, a director of the
Company  received  200,004 common shares in  exchange  for  shares  on
fiberglass.com, inc. owned by him.


ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Competition  for  Internet products and services, advertising  and  e-
commerce  is  intense.   The  Company expects  that  competition  will
continue to intensify.  Barriers to entry are minimal, and competitors
can  launch new Web sites at a relatively low cost. It competes for  a
share  of  a  customer's advertising/promotional  budget  with  online
services  and  traditional off-line media, such  as  print  and  trade
associations.

Competitors  may  develop  Internet  products  or  services  that  are
superior  to  or  have greater market acceptance  than  the  Company's
solutions.   If  it  is  unable to compete  successfully  against  its
competitors,  business condition, financial condition,  and  operating
results will be adversely affected.


Many  of the Company's competitors have much greater brand recognition
and  greater financial, marketing and other resources. This may  place
it  at  a  disadvantage  in  responding to  its  competitors'  pricing
strategies,  technological advances, advertising campaigns,  strategic
partnerships and other initiatives.


                      PART II - OTHER INFORMATION

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

A report on form 8-K was filed on August 14, 2000. The Company
reported Item 2: The acquisition of metalworld.com, Inc.


                              SIGNATURES

Pursuant to the requirements of the Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.


RECYCLENET CORPORATION

March 16, 2001

                             BY:    /s/ Paul Roszel
                                 ---------------------------------------
                                  Paul Roszel, President
                                  and Chairman of the Board of Directors

March 16, 2001
                             BY:    /s/ Richard Ivanovick
                                 ---------------------------------------
                                  Richard Ivanovick, C.A.,
                                  Chief Financial and Accounting Officer