Filed for Bankruptcy on 12/28/2006
Case #06-17232, filed in the U.S. Bankruptcy Court in the Northern District of Illinois (Chicago)
This company is no longer actively traded on any major stock exchang
http://www.crmz.com/EdgarFilingsCRM.asp?BusinessId=5338468
Investors Hub - Galaxy Minerals Inc. (GAXY) Post #334 >
Galaxy is still in and out of Chapter 11. The 11 has been tossed out twice that I know of. GCA is holding the paper on the Yellow Jacket and Phoenix properties. They are currently in the process of getting a judgment against Galaxy that will include all hard assets including the Yellow Jacket/Phoenix. Kiss those properties good-by!
I don't think this bunch ever planned on mining anything but the investors pockets. You can go back and read my previous posts and warnings during my investigations.
At one time I owned GAXY stock.
I see no hope for share holders getting even a partial return.
I would hope the current stock holders will consult a corporate attorney on what actions can be taken to remove the current board and CEO. Replace with new officers and a reoganisation plan under the chapter 11. Find out if the current and past officers and principals can be charged with criminal or felony fraud charges.
On a side note. I was in the Tubac, Arizona area, not far from the Oro Blanco Dist., last month and ran into a treasure hunter who was for a short time associated with the Galaxy principals and former owners of the Yellow Jacket/Phoenx properties. He had quite a story about their partying all night, every night and their forays into the red light/canal districts in Nogales, Mexico. Then sleeping all day while equipment that was rented sat unused at the mine site or near their R.V. He thought they did this for about a month and then went back to Chicago with according to him about a 100 Lb bale of Whacky Tabacky that they took from a drug runner
