The product of glycolysis is pyruvate. If the cell is in o2 rich environment, pyruvate will go to the mitochondria and undergo aerobic respiration (via kreb's). If the cell is in an anaerobic environment, it will stay in the cytosol and undergo anaerobic respiration and will be converted to lactate. The point of anaerobic respiration is that during this process, you use up NADH to create NAD+, which is required for glycolysis. Since you regenerate the NAD+, you can undergo glycolysis and generate a couple of ATPs.
Its 2:26AM, so please forgive me if that didnt make sense.
