UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-QSB  [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended September 30, 2006   [  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  Commission File No.000-31355  SUNCREST GLOBAL ENERGY CORP. (Name of small business issuer in its charter)  Nevada  81-0438093 (State of incorporation) (I.  R.  S.  Employer Identification No.)  3353 South Main, #584, Salt Lake City, Utah 84115 (Address of principal executive offices) (Zip code)  Issuer’s telephone number:(702) 946-6760  Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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  [   ]  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  [X]   No  [   ]  As of October 26, 2006 Suncrest Global Energy Corp. had a total of 39,050,000 shares of common stock issued and outstanding.  Transitional small business disclosure format:  Yes [  ]  No [X]  1  TABLE OF CONTENTS  PART I: FINANCIAL INFORMATION  Item 1.  Financial Statements 2  Item 2. Management’s Discussion and Analysis or Plan of Operation 7  Item 3. Controls and Procedures 7  PART II: OTHER INFORMATION  Item 4.  Submission of Matters to a Vote of Security Holders 8  Item 6.  Exhibits 8  Signatures 8   ______________________________  PART I: FINANCIAL INFORMATION  ITEM 1.  FINANCIAL STATEMENTS  The financial information set forth below with respect to our statements of operations for the three month period ended September 30, 2006 and 2005 is unaudited.  This financial information, in the opinion of management, includes all adjustments consisting of normal recurring entries necessary for the fair presentation of such data.  The results of operations for the three month period ended September 30, 2006 are not necessarily indicative of results to be expected for any subsequent period.      Suncrest Global Energy Corp.  (Formerly Galaxy Specialties, Inc.)  (A Development Stage Company)  Financial Statements  September 30, 2006  2


SUNCREST GLOBAL ENERGY CORP.(A Development Stage Company)Balance SheetsASSETSSeptember 30,June 30,20062006(Unaudited)Current AssetsCash$                  8,312$1,253Total Current Assets8,3121,253Property, Plant and Equipment, net-464,230Total Assets$ 8,312$465,483LIABILITIES AND STOCKHOLDERS' EQUITYCurrent LiabilitiesAccounts Payable$                         -$           146,700Accrued Expenses10087,429Notes Payable-188,697Total Current Liabilities100422,826Total Liabilities100422,826STOCKHOLDERS' EQUITYPreferred Stock, Authorized 5,000,00 Shares, $.01 Par Value,Issued and Outstanding 0 SharesCommon Stock, Authorized 70,000,000 Shares, $.001 par Value,Issue and Outstanding 39,050,000 Shares39,05039,050Additional Paid-in Capital461,380461,380Deficit Accumulated During the Development Stage(492,218)(457,773)Total Stockholders’ Equity8,21242,657Total Liabilities and Stockholders’ Equity$              8,312$         473,211  The accompanying notes are an integral part of these financial statements.


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SUNCREST GLOBAL ENERGY CORP.
(Formerly Galaxy Specialties, Inc.)(A Development Stage Company)Statements of Operations(Unaudited)For the three monthsFor the three monthsFrom Inception onended Sept. 30,ended Sept. 30,July 9, 199620062005to Sept. 30, 2006REVENUES$                              -$                             -$                        -Cost of Sales---Gross Profit (Loss)---OPERATING EXPENSESEngineering & Consulting--46,269General & Administrative64,6362,732388,367Total Operating Expenses64,6362,732434,636Net Operating Income (Loss)(64,636)(2,732)(434,636)OTHER INCOME (EXPENSE)Gain on sale of Property, Plantand Equipment32,569-33,025Interest Expense(2,378)(4,828)(89,707)Total Other Income (Expense)30,191(4,828)(56,682)INCOME FROM CONTINUING OPERATIONS(34,445)(7,560)(491,318)AND BEFORE TAXESIncome Tax Expense--(900)Net Income (Loss)$                   34,445)$                    (7,560)$          492,218)NET LOSS PER SHARE$                             -$                             -$               (0.02)WEIGHTED AVERAGE SHARESOUTSTANDING39,050,00039,050,00021,064,779  The accompanying notes are an integral part of these financial statements.


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SUNCREST GLOBAL ENERGY CORP.(A Development Stage Company)Statements of Cash Flows(Unaudited)From Inception onFor the three months endedJuly 9, 1996September 30,Through20062005September 30, 2006Cash Flows from Operating Activities:Net Income (Loss)$       (34,445)$        (7,560)$        (492,218)Adjustments to Reconcile net Loss to Net CashProvided by Operations:Stock Issued for Services--10,000Gain on Sale of Assets(32,569)(32,569)Change in Operating Assets and Liabilities:---Increase (Decrease) in:Accounts Payable & Accrued Expenses(234,029)11,828(32,901)Net Cash Provided (Used) by Operating Activities(301,043)4,268(547,688)Cash Flows from Investing Activities:Proceeds from sale of Property, Plant and Equipment496,799-496,799Advance Sale Deposit-(10,000)-Net Cash Provided (Used) by Investing Activities496,799(10,000)496,799Cash Flows from Financing Activities:Cash from Advance--5,000Proceeds from Issuance of Common Stock--6,800Proceeds from Notes Payable--281,098Principal Payments on Notes Payable(188,697)-(233,697)Net Cash Provided (Used) by Financing Activities(188,697)-59,201Increase (Decrease) in Cash7,059(5,732)8,312Cash and Cash Equivalents at Beginning of Period1,2538,981-Cash and Cash Equivalents at End of Period$          8,312$          3,249$                   8,312Supplemental Cash Flow Information:Cash Paid For:Interest$                  -$                   -$                           -Income Taxes$                  -$                   -$                      900


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Suncrest Global Energy Corp. (A Development Stage Company) Notes to the Financial Statements September 30, 2006   GENERAL  Suncrest Global Energy Corp.  (the Company) has elected to omit substantially all footnotes to the financial statements for the three months ended September 30, 2006 since there have been no material changes (other than indicated in other footnotes) to the information previously reported by the Company in their Annual Report filed on the Form 10-KSB for the twelve months ended June 30, 2006  UNAUDITED INFORMATION  The information furnished herein was taken from the books and records of the Company without audit.  However, such information reflects all adjustments which are, in the opinion of management, necessary to properly reflect the results of the interim period presented.  The information presented is not necessarily indicative of the results from operations expected for the full fiscal year.


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In this quarterly report references to “Suncrest Global,” “we,” “us,” and “our” refer to Suncrest Global Energy Corp.  SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS  The Securities and Exchange Commission (“SEC”) encourages companies to disclose forward-looking information so that investors can better understand future prospects and make informed investment decisions.  This report contains these types of statements.  Words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “project,” or “continue” or comparable terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report.  All forward-looking statements reflect our present expectation of future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.  ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION  During 2004 and 2005 our business plan was to develop a manufacturing and marketing plan to sell a turnkey mini oil refinery or waste oil refinery to prospective customers.  Our wholly owned subsidiary, Coyote Oil Company, Inc.  owned a mini oil refinery prototype, land and assets related to the property located in Green River, Utah.  However, on August 7, 2006 Coyote Oil completed the sale of its mini oil refinery prototype and the land and assets to Ecodomaine Refining, Inc., a Utah corporation (“Ecodomaine”).  As a result of the disposal of the mini refinery, our business plan moving forward is to seek, investigate, and, if warranted, acquire an interest in a business opportunity.  Based on current economic and regulatory conditions, management believes that it is possible, if not probable, for a company like ours, without many assets or liabilities, to negotiate a merger or acquisition with a viable private company.  The opportunity arises principally because of the high legal and accounting fees and the length of time associated with the process of “going public.”  However, should a merger or acquisition prove unsuccessful, it is possible that we may decide not to pursue further acquisition activities and management may abandon its activities and our shares would become worthless.  As of the date of this filing, we have not identified any assets or business opportunities for acquisition.  However, our board of directors has proposed a 13-to-1 reverse split of our common stock in order to position the company so that it is more attractive as a merger or acquisition candidate.  (See Part II, Item 4 below).  Potential investors must recognize that because of limited capital available for investigation of business opportunities and management’s limited experience in business analysis, we may not discover or adequately evaluate adverse facts about any business opportunity to be acquired.  All risks inherent in new and inexperienced enterprises are inherent in our plan.  It is emphasized that our management may effect transactions having a potentially adverse impact upon our shareholders pursuant to the authority and discretion of our board of directors to complete acquisitions without submitting any proposal to the stockholders for their consideration.  Management anticipated that the sale of the mini refinery would provide proceeds for a five year period after the closing based upon yearly installments to be paid by Ecodomaine.  However, Ecodomaine made one final lump sum payment of $410,000 for the mini refinery and we used a portion of the $464,230 proceeds to pay off debt and will use the remainder for operations.At September 30, 2006, we had $8,312 cash on hand and total liabilities of $100 and we may need to raise additional funds during the next twelve months to satisfy our cash requirements.  ITEM 3.  CONTROLS AND PROCEDURES  We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC.  This information is accumulated and communicated to our executive officers to allow timely decisions regarding required disclosure. Our President, who acts in the capacity of principal executive officer and principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report.  Based on that evaluation, he concluded that our disclosure controls and procedures were effective.


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Our President also determined that there were no changes made in our internal controls over financial reporting during the first quarter of our 2007 fiscal year that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.  PART II: OTHER INFORMATION  ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS  On October 20, 2006, our board of directors proposed by resolution a 13-to-1 reverse split of our common stock.  On October 23, 2006 (the “Record Date”) stockholders holding 27,241,000 shares of common stock, representing 69.8% of our outstanding common stock, executed and delivered a written consent approving and adopting the reverse split.We filed with the SEC a  preliminary information statement on Schedule 14C on November 8, 2006.  In accordance with Rule 14c-2 under the Exchange Act, the proposal will not be effective until 20 days after the date the definitive information statement is mailed to our stockholders.  ITEM 6.  EXHIBITS  Part I Exhibits 31.1 Principal Executive Officer Certification 31.2 Principal Financial Officer Certification 32.1 Section 1350 Certification  Part II Exhibits 2.1 Agreement and Plan of Reorganization between Suncrest Global and Coyote Oil, dated June 10, 2003 (Incorporated by reference to exhibit 2.1 of Form 8-K, as amended, filed June 16, 2003) 3.1 Restated Articles of Incorporation (Incorporated by reference to exhibit 3.1 of Form 10-KSB, filed October 15, 2003) 3.2 Restated bylaws of Suncrest Global (Incorporated by reference to exhibit 3.2 of Form 10-KSB, filed October 15, 2003) 10.1 Asset Purchase Agreement between Coyote Oil Company, Inc. and Ecodomaine Refining, Inc., dated March 30, 2004(Incorporated by reference to exhibit 10.1 to Form 8-K filed August 10, 2006)   SIGNATURES  In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.   SUNCREST GLOBAL ENERGY CORP.     Date: November 9, 2006 By: /s/ John W. Peters John W. Peters President, Principal Executive Officer, Principal Financial Officer, and Director


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