QUARTERLY REPORT ON
FORM 10QSB FOR THE PERIOD ENDED SEPTEMBER 30, 2007

UNITED STATES
                                        SECURITIES AND EXCHANGE COMMISSION
                                              Washington, D.C. 20549

FORM 10-QSB

|[   ] |  | QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|----- |  | ---------------------------------------------------------------------------------

For the quarterly
period ended _________________

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

For the transition
period from July 1, 2007 to September 30, 2007

Commission File
No.000-31355

SUNCREST GLOBAL
ENERGY CORP.(Name of small business issuer in its charter)

|Nevada 
(State or other jurisdiction of incorporation ororganization) |  | 81-0438093 
(I.R.S. Employer Identification No.)
|--------------------------------------------------------------------- |  | ------------------------------------------------

124 North First Street,
Louisville, KY 40202(Address of principal executive
offices)

502-379-4788(Issuers telephone number)

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) as of
September 30, 2007.Yes  [X]      No [   ]

As of October 29, 2007, Suncrest
Global Energy Corp. had a total of 3,003,892 post-split shares of common stock issued and
outstanding.

Transitional small business
disclosure format:  Yes [   ]     No [X]

Suncrest Global Energy Corporation
(the Company) is filing this Transition Report on Form 10-QSB (This Transition
Report) in connection with its change in fiscal year end from June 30 to September 30.
The Company previously reported its change in fiscal year end on a Current Report on Form
8-K, dated December 20, 2007. This Transition Report is identical, in all material
respects, to the Form 10-QSB filed by the Company on November 13, 2007 with regard to the
three months ended September 30, 2007.

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TABLE OF CONTENTS

PART I: FINANCIAL INFORMATIONItem 1.  Financial Statements
      2Item 2. Managements Discussion and Analysis or Plan of Operation
      7Item 3. Controls and Procedures
      7PART II: OTHER INFORMATIONItem 5.  Other Information
      8Item 6.  Exhibits
      8Signatures
      8




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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, 2007 and 2006 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, 2007 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, 2007

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SUNCREST GLOBAL
ENERGY CORP.(A Development Stage Company)

  Balance Sheets

ASSETS
      September 30,
2007
      
      June 30,
2007(Unaudited)Current AssetsCash
      $     6,459
      
      $   11,459Total Current Assets
      6,459
      
      11,459Total Assets
      $     6,459
      
      $   11,459LIABILITIES AND STOCKHOLDERS EQUITYCurrent LiabilitiesAccounts Payable
      $   12,900
      
      $   10,400Total Current Liabilities
      12,900
      
      10,400Total Liabilities
      $   12,900
      
      $   10,400STOCKHOLDERS 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 3,003,847 Shares (Retroactively Restated)
      3,004
      
      3,004Additional Paid-in Capital
      497,426
      
      497,426Deficit Accumulated During the Development Stage
      (506,871
      )
      (499,371
      )Total Stockholders Equity (Deficit)
      (6,441
      )
      1,059Total Liabilities and Stockholders Equity (Deficit)
      $     6,459
      
      $   11,459


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 Operations 
  (Unaudited)

For the three 
months ended 
Sept. 30, 
2007
      
      For the three 
months ended 
Sept. 30, 
2006
      
      From 
Inception on 
July 9, 1996 
to Sept. 30, 2007REVENUES
      $              
      
      $              
      
      $              Cost of Sales
      
      
      
      
      Gross Profit (Loss)
      
      
      
      
      OPERATING EXPENSESEngineering & Consulting
      
      
      
      
      46,269General & Administrative
      7,500
      
      64,636
      
      388,367Total Operating Expenses
      7,500
      
      64,636
      
      434,636Net Operating Income (Loss)
      (7,500
      )
      (64,636
      )
      (434,636
      )OTHER INCOME (EXPENSE)Gain on sale of Property, Plantand Equipment
      
      
      32,569
      
      33,025Interest Expense
      
      
      (2,378
      )
      (89,707
      )Total Other Income (Expense)
      
      
      30,191
      
      (56,682
      )LOSS FROM CONTINUING OPERATIONSAND BEFORE TAXES
      (7,500
      )
      (34,445
      )
      (491,318
      )Income Tax Expense
      
      
      
      
      (900
      )NET LOSS
      $     (7,500
      )
      $   (34,445
      )
      $ (492,218
      )NET LOSS PER SHARE
      $              -
      
      $       (0.01
      )
      $       (0.28
      )WEIGHTED AVERAGE SHARESOUTSTANDING
      3,003,847
      
      3,003,847
      
      1,744,414


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)

For the three 
months ended 
September 30,
      
      From Inception 
on July 9, 1996 
Through 
September 30,2007
      
      2006
      
      2007Cash Flows from Operating Activities:Net Income (Loss)
      $(7,500
      )
      $(34,445
      )
      $(506,871
      )Adjustments to Reconcile net Loss to Net CashProvided by Operations:Stock Issued for Services
      
      
      
      
      10,000Gain on Sale of Assets
      
      
      (32,569
      )
      (33,025
      )Change in Operating Assets and Liabilities:
      
      
      
      
      Increase (Decrease) in:Accounts Payable & Accrued Expenses
      2,500
      
      (234,029
      )
      (20,101
      )Net Cash Provided (Used) by Operating Activities
      (5,000
      )
      (301,043
      )
      (549,997
      )Cash Flows from Investing Activities:Proceeds from sale of Property, Plant and Equipment
      
      
      496,799
      
      497,255Advance Sale Deposit
      
      
      
      
      Net Cash Provided (Used) by Investing Activities
      
      
      496,799
      
      497,255Cash 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 Cash
      (5,000
      )
      7,059
      
      6,459Cash and Cash Equivalents at Beginning of Period
      11,459
      
      1,253
      
      Cash and Cash Equivalents at End of Period
      $ 6,459
      
      $     8,312
      
      $     6,459Supplemental Cash Flow Information:Cash Paid For:Interest
      $     
      
      $          
      
      $          Income Taxes
      $     
      
      $          
      
      $        900Non-Cash Investing and Financing Activities:Assets Contributed by Shareholder
      $     
      
      $          
      
      $ 498,430Stock Issued for Notes Payable
      $     
      
      $          
      
      $   13,200


The accompanying notes
are an integral part of these financial statements.

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Suncrest Global
Energy Corp.(A Development Stage Company) 
Notes to the Financial Statements 
September 30, 2007

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, 2007 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, 2007.

Effective December 20, 2007, our
Board of Directors approved a change in our fiscal year end from June 30 to September 30.
As set forth in the cover page of this report, our Transition Report modifies our
Quarterly Report on From 10-QSB for the three months ended September 30, 2007 that was
previously filed with the Securities and Exchange Commission.

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

We are a development stage company
and we have not recorded revenues in the past two fiscal years. At September 30, 2007, we
had cash of $6,459 and total liabilities of $12,900. Our auditors have expressed doubt
that we can continue as a going concern if we do not obtain financing. Management
anticipates during the next twelve months that we will use our cash to pay for our
minimal operations and legal, accounting and professional services required to prepare
and file our reports with the SEC. However, we will need to raise additional funds during
the next twelve months to satisfy our cash requirements.

Any additional funding will likely
come from loans or equity financing. If we sell our common stock to raise additional
capital, then we expect to issue such stock pursuant to exemptions provided by federal
and state securities laws. The purchasers and manner of issuance will be determined
according to our financial needs and the available exemptions. We do not currently intend
to make a public offering of our stock. We also note that if we issue more shares of our
common stock, then our shareholders may experience dilution in the value per share of
their common stock.

Management has actively sought an
operating company to acquire or with which to merge and we have identified a business
opportunity that we plan to pursue. However, as of the date of this report, we are in
preliminary negotiations and have not entered into a definitive agreement concerning an
acquisition or merger, and management can not assure you that any transaction will be
finalized. 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.

Potential investors must recognize
that because we have limited capital available for investigation of business
opportunities and management has limited experience in business analysis, we may not
discover or adequately evaluate adverse facts about any business opportunity to be
acquired. If we are unable to finalize a merger or acquisition, it is possible that
management may decide not to pursue further acquisition activities and management may
abandon its activities and our shares would become worthless.

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.

During the past fiscal year we have
not recorded research and development expense and do not anticipate those type of
expenses in the short term. We do not anticipate hiring employees in the short term, but
this action will be based upon our success in finding a business opportunity.

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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.

Our President also determined that
there were no changes made in our internal controls over financial reporting during the
first quarter of our 2008 fiscal year that have materially affected, or are reasonably
likely to materially affect our internal control over financial reporting.

PART II: OTHER
INFORMATION

ITEM 5.  OTHER INFORMATION

In August 2006 our wholly-owned
subsidiary, Coyote Oil Company, Inc. (Coyote Oil), sold its mini oil refinery
prototype, land and assets related to that property and after that transaction Coyote Oil
did not have any assets or have a plan of operation. On September 28, 2007, Coyote Oils
board of directors and shareholder approved the dissolution of that corporation and
caused a Certificate of Dissolution to be filed with the Nevada Secretary of State, which
became effective October 30, 2007.

ITEM 6.  EXHIBITS

Part I Exhibits

|31.1 |  | Principal
Executive Officer Certification
|---- |  | -----------------------------------------

|31.2 |  | Principal
Financial Officer Certification
|---- |  | -----------------------------------------

|32.1 |  | Section
1350 Certification
|---- |  | --------------------------

|32.2 |  | Section
1350 Certification
|---- |  | --------------------------

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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: February 4, 2008 |  | By:                        
|                       |  |                            

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