Galaxy Minerals Inc. (f/k/a GAXY)

[Baboquivari]

It is my understanding that the SEC is involved in a full investigation of Galaxy's antics. A mining engineer I know who knows someone who worked for gaxy says the SEC is taking depositions in Washington D.C. from everyone who was/is involved with the corp. I also understand that there is a very long list of other names involved that are being investigated as leads. There is no specific info as to what they are investigating except that it may be centered around excessive stock compenstion for small services provided by principals and friends. As an example (if you worked for a company two days doing mapping and were awarded 5,000,000 or 10,000,000 shares as payment).
Goldstein is posting over on the Raging Bull forum.
All of you investors should go there and ask him what is going on. If nothing else he may not tell the truth and that can possibly be used against him in the future if the share holders decide to bring legal action against the principals. http://ragingbull.lycos.com/mboard/boards.cgi?board=BB%3AGAXY&origsymbols=gaxy
Read a few of the posts and it will become apparent that several posters over there are principal members in Galaxy as both stillatim and scottgoldstein_1 being scott goldstein is.
If this investigation continues to hold water, I believe that we may see indictments and possibly prison sentences for certain officers and other members of the Corp. and associated businesses.
I understand that there is no activity on the Yellow Jacket/Phoenix property and that the road is in very bad shape. I was told some of the fence has been stolen and one of the tunnels is being used by Coyotes to hide smuggled illegal aliens in.
I would speculate that the principals are hanging on to what money is left to use for legal fees and defence attorneys.
Needless to say none of this is good news.