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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, 2007

[ ]

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

(State or other jurisdiction of incorporation or organization)

81-0438093

(I.R.S. Employer Identification No.)

3353 South Main, #584, Salt Lake City, Utah 84115

(Address of principal executive offices)

801-323-2395

(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).

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]

TABLE OF CONTENTS

PART I: FINANCIAL INFORMATION

Item 1. Financial Statements

Item 2. Management’s Discussion and Analysis or Plan of Operation

Item 3. Controls and Procedures

PART II: OTHER INFORMATION

Item 5. Other Information

Item 6. Exhibits

Signatures

______________________________

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

SUNCRST GLOBAL ENERGY CORP.

(A Development Stage Company)

Balance Sheets


		ASSETS
			September 30,	June 30,
			2007	2007
			(Unaudited)

Current Assets
Cash			$ 6,459	$ 11,459

Total Current Assets			6,459	11,459

Total Assets			$ 6,459	$ 11,459


	LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
Accounts Payable			$ 12,900	$ 10,400

Total Current Liabilities			12,900	10,400

Total Liabilities			12,900	10,400

STOCKHOLDERS' EQUITY
Preferred Stock, Authorized 5,000,00 Shares, $.01 Par Value,
Issued and Outstanding 0 Shares
Common Stock, Authorized 70,000,000 Shares, $.001 par Value,
Issue and Outstanding 3,003,847 Shares (Retroactively Restated)			3,004	3,004
Additional Paid-in Capital			497,426	497,426
Deficit Accumulated During the Development Stage			(506,871)	(499,371)

Total Stockholders' Equity (Deficit)			(6,441)	1,059

Total Liabilities and Stockholders' Equity (Deficit)			$ 6,459	$ 11,459

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

SUNCREST GLOBAL ENERGY CORP.

(A development Stage Company)

Statements of Operations

(Unaudited)


	For the three	For the three	From
	months ended	months ended	Inception on
	Sept. 30,	Sept. 30,	July 9, 1996
	2007	2006	to Sept. 30, 2007

REVENUES	$ -	$ -	$ -

Cost of Sales	-	-	-

Gross Profit (Loss)	-	-	-

OPERATING EXPENSES
Engineering & Consulting	-	-	46,269
General & Administrative	7,500	64,636	388,367

Total Operating Expenses	7,500	64,636	434,636

Net Operating Income (Loss)	(7,500)	(64,636)	(434,636)

OTHER INCOME (EXPENSE)
Gain on sale of Property, Plant
and Equipment	-	32,569	33,025
Interest Expense	-	(2,378)	(89,707)
Total Other Income (Expense)	-	30,191	(56,682)

LOSS FROM CONTINUING OPERATIONS
AND 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 SHARES
OUTSTANDING	3,003,847	3,003,847	1,744,414

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

Suncrest Global Energy Corp.

(A Development Stage Company)

Statements of Cash Flows

(Unaudited)


			From Inception
	For the three		on July 9, 1996
	months ended		Through
	September 30,		September 30,
	2007	2006	2007
Cash Flows from Operating Activities:
Net Income (Loss)	$ (7,500)	$ (34,445)	$ (506,871)
Adjustments to Reconcile net Loss to Net Cash
Provided by Operations:
Stock Issued for Services	-	-	10,000
Gain 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	497,255
Advance Sale Deposit	-	-	-
Net Cash Provided (Used) by Investing Activities	-	496,799	497,255

Cash Flows from Financing Activities:
Cash from Advance	-	-	5,000
Proceeds from Issuance of Common Stock	-	-	6,800
Proceeds from Notes Payable	-	-	281,098
Principal Payments on Notes Payable	-	(188,697)	(233,697)
Net Cash Provided (Used) by Financing Activities	-	(188,697)	59,201

Increase (Decrease) in Cash	(5,000)	7,059	6,459

Cash and Cash Equivalents at Beginning of Period	11,459	1,253	-

Cash and Cash Equivalents at End of Period	$ 6,459	$ 8,312	$ 6,459

Supplemental Cash Flow Information:
Cash Paid For:
Interest	$ -	$ -	$ -
Income Taxes	$ -	$ -	$ 900
Non-Cash Investing and Financing Activities:
Assets Contributed by Shareholder	$ -	$ -	$ 498,430
Stock Issued for Notes Payable	$ -	$ -	$ 13,200

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

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.

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

Part II Exhibits

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)

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.

Date: November 8, 2007

SUNCREST GLOBAL ENERGY CORP.

By: /s/ John W. Peters

John W. Peters

President, Principal Executive Officer,

Principal Financial Officer, and Director