<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>FORM S-8 </TITLE>
<META NAME="date" CONTENT="11/07/2006">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:492pt"><P style="margin:0pt" align=center>As filed with the Securities and Exchange Commission on November 22, 2006</P>
<P style="margin:0pt" align=center>Registration No. 333-___________</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>UNITED STATES</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>Washington, D.C. 20549</P>
<P style="line-height:20pt; margin:0pt; font-size:18pt" align=center><B>FORM S-8 </B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:20pt; margin:0pt; font-size:18pt" align=center><B><U>GTREX Capital, Inc.</U></B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=221.4></TD><TD width=221.4></TD></TR>
<TR><TD valign=top width=295.2><P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B><U>DELAWARE</U></B></P>
</TD><TD valign=top width=295.2><P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B><U>13-4171971</U></B></P>
</TD></TR>
<TR><TD valign=top width=295.2><P style="margin:0pt" align=center>(State or other jurisdiction of</P>
<P style="margin:0pt" align=center>Incorporation or organization)</P>
</TD><TD valign=top width=295.2><P style="margin:0pt" align=center>(I.R.S. Employer Identification Number)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>GTREX Capital, Inc.</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>43180 Business Park Dr., Suite 202</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B><U>Temecula, California 92590</U></B></P>
<P style="margin:0pt" align=center>(Address of principal executive offices) &nbsp;(Zip code)</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>COMPENSATION PLAN FOR EMPLOYEES, OFFICERS, DIRECTORS AND <U>CONSULTANTS</U></B></P>
<P style="margin:0pt" align=center>(Full title of plan)</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Gary Nerison</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>GTREX Capital, Inc.</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>43180 Business Park Drive, Suite 202</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B><U>Temecula, California &nbsp;92590</U></B></P>
<P style="margin:0pt" align=center>(Name and address of agent for service) </P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B><U>(951) 587-9100</U></B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>(Telephone number, including area code of agent for service) </P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Copy to: </B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>James Parsons</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>10900 NE 4th Street</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>Bellevue, WA</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>(425) 451-8036</P>
<P style="margin:0pt" align=center><BR></P>
<P style="margin:0pt" align=center>CALCULATION OF REGISTRATION FEE</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=421.8></TD></TR>
<TR><TD width=562.4><P style="margin:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proposed Maximum &nbsp;&nbsp;&nbsp;Proposed Maximum &nbsp;&nbsp;&nbsp;</P>
<P style="margin:0pt">Title Of Securities &nbsp;&nbsp;&nbsp;Amount To Be &nbsp;&nbsp;&nbsp;&nbsp;Offering Price &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aggregate &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount of</P>
<P style="margin:0pt"><U>To Be Registered</U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registered<SUP>(1)</SUP></U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Per Share <SUP>(2)</SUP></U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Offering Price</U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration Fee</U></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt">Common Stock &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140,000,000 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$.003 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$420,000.00 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44.94</P>
<P style="margin:0pt">($0.001 Par Value)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt">(1) Represents 140,000,000 shares of Common Stock to be issued to employees and consultants as compensation for services rendered </P>
<P style="margin-top:5pt; margin-bottom:5pt">(2) Estimated solely for the purpose of determining the amount of registration fees and pursuant to Rules 457(c) and 457(h) of the General Rules and Regulations under the Securities Act of 1933. </P>
<P style="margin:12pt" align=center><BR>
<BR></P>
<P style="margin:0pt" align="center">1</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin-top:12pt; margin-bottom:12pt; font-size:12pt; page-break-before:always" align=center><B>PART I</B></P>
<P style="line-height:14pt; margin-top:12pt; margin-bottom:12pt; font-size:12pt" align=center><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
<P style="line-height:14pt; margin-top:12pt; margin-bottom:-14pt; font-size:12pt"><B>Item 1.</B></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:10pt; text-indent:36pt; font-size:12pt"><B>&nbsp;&nbsp;Plan Information</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>The documents containing the information specified in Item 1 will be sent or given to participants in the Plan as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the &quot;Securities Act&quot;). Such documents are not being filed with the Securities and Exchange Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in the Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify><B>Item 2. &nbsp;Registrant Information and Employee Plan Annual Information</B></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>Upon written or oral request, any of the documents incorporated by reference in Item 3 of Part II of this Registration Statement (which documents are incorporated by reference in this Section 10(a) Prospectus), other documents required to be delivered by eligible employees, non-employee directors and consultants, pursuant to Rule 428(b) are available without charge by contacting:</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>Gary Nerison</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>GTREX Capital, Inc.</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>43180 Business Park Drive, Suite 202</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>Temecula, California &nbsp;92590</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>PART II</B></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><B>Item 3. &nbsp;Incorporation of Documents by Reference</B></P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin-top:12pt; margin-bottom:12pt; font-size:12pt" align=justify>The following documents filed with the Securities and Exchange Commission (the &quot;Commission&quot;) by GTREX Capital, Inc., a California corporation (the &quot;Company&quot;), are incorporated herein by reference: </P>
<P style="line-height:14pt; margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; font-size:12pt" align=justify>(a)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; padding-left:54pt; font-size:12pt" align=justify>The Company's latest Annual Report on Form 10-K for the year ended December 31, 2005, as filed with the Securities and Exchange Commission on April 27, 2006; </P>
<P style="line-height:14pt; margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; font-size:12pt" align=justify>(b)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; padding-left:54pt; font-size:12pt" align=justify>The reports of the Company filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;) since the fiscal year ended December 31, 2005; </P>
<P style="margin:12pt" align=center><BR>
2</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin-top:12pt; margin-bottom:-14pt; padding-left:54pt; text-indent:-18pt; font-size:12pt; page-break-before:always" align=justify>(c)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; padding-left:54pt; font-size:12pt" align=justify>The description of the Company's common stock contained in its Form 10-K filed April 27, 2006 (File No. 814-00697), including any amendment or report filed for the purpose of updating such description.</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>All other documents filed by the Company after the date of this Registration Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or de-registers all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing such documents.</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>We will furnish to each person to whom this Prospectus is delivered, upon written or oral request, a copy of any or all of the documents referred to by reference. &nbsp;Requests should be addressed to: Gary Nerison, GTREX Capital, Inc., 43180 Business Park Drive, Suite 202, Temecula, California &nbsp;92590. &nbsp;Our telephone number is (951) 587- 9100.</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>The public may read and copy any materials we file with the Securities and Exchange Commission at the SEC&#146;s Public Reference Room located at 100 F Street, NE, Washington, DC 20549. &nbsp;The public may obtain information on the operation of the Public Reference Room by calling 1-(800)-SEC-0330. &nbsp;The Commission maintains a World Wide Web site on the Internet at http://www.sec.gov that contains reports, proxy and information statements and other information regarding us and other registrants that file electronically with the Commission.</P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt"><B>Item 4. Description of Securities: </B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Not Applicable </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt"><B>Item 5. Interests of Named Experts and Counsel: </B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">None</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><B>Item 6. Indemnification for Directors and Officers: </B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=justify>The Company's articles of incorporation, as amended, contain the following indemnification provision: &nbsp;The corporation shall indemnify its officers, directors and stockholders from all liability of any type or sort whatever, as may exist as a direct or indirect result of their status or actions as such officer, director or stockholder, except as may arise due to the gross negligence or willful misconduct of any such person. &nbsp;The Company may purchase indemnification insurance for officers and directors. </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=justify>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the registrant pursuant to the foregoing provisions, the registrant has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is therefore unenforceable. </P>
<P style="margin:5pt" align=justify><BR>
  </P>
</DIV><DIV style="width:492pt"><P style="margin:0pt" align="center">3</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt; page-break-before:always"><B>Item 7. Exemption from Registration Claimed: </B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">Not Applicable </P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><B>1tem 8. Exhibits: </B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=justify>The exhibits to this Registration Statement are listed in the index to Exhibits on Page 7. </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt"><B>Item 9. Undertakings: </B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:-14pt; text-indent:36pt; font-size:12pt" align=justify>(a)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:5pt; text-indent:72pt; font-size:12pt" align=justify>The undersigned registrant hereby undertakes: </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-36pt; font-size:12pt" align=justify>(1)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:5pt; padding-left:108pt; font-size:12pt" align=justify>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:-14pt; padding-left:144pt; text-indent:-36pt; font-size:12pt" align=justify>(i)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:5pt; padding-left:144pt; font-size:12pt" align=justify>To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:-14pt; padding-left:144pt; text-indent:-36pt; font-size:12pt" align=justify>(ii)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:5pt; padding-left:144pt; font-size:12pt" align=justify>To reflect in the prospectus any facts or events which, individually or together, represent a fundamental change in the information set forth in this Registration Statement; </P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:144pt; text-indent:-36pt; font-size:12pt" align=justify>(iii)</P>
<P style="line-height:14pt; margin:0pt; padding-left:144pt; font-size:12pt" align=justify>To include any additional or changed material information on the plan of distribution; provided, however, that paragraph 1(I) and 1(ii) do not apply if the information required to included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement. </P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-36pt; font-size:12pt" align=justify>(2)</P>
<P style="line-height:14pt; margin:0pt; padding-left:108pt; font-size:12pt" align=justify>That for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-36pt; font-size:12pt" align=justify>(3)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:5pt; padding-left:108pt; font-size:12pt" align=justify>&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered hereunder that remain unsold at the termination of the offering. </P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:-14pt; padding-left:72pt; text-indent:-36pt; font-size:12pt" align=justify>(b)</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:5pt; padding-left:72pt; font-size:12pt" align=justify>The undersigned company hereby undertakes that for purposes of determining any liability under the Securities Act of 1933, each filing of the company's annual report pursuant to Section 13(a) or Section 15(d) of the Securities and Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </P>
<P style="margin:5pt" align=justify><BR>
<BR></P>
</DIV><DIV style="width:492pt"><P style="margin:0pt" align="center">4</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
  <P style="margin:0pt" align="center">&nbsp;</P>
</DIV><DIV style="width:432pt">
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:72pt; text-indent:-36pt; font-size:12pt" align=justify>(c)</P>
<P style="line-height:14pt; margin:0pt; padding-left:72pt; font-size:12pt" align=justify>&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Company pursuant to the above-described provisions or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.</P>
<P style="margin:0pt"><BR></P>
<P style="margin:5pt" align=center><BR>
<BR></P>
</DIV><DIV style="width:492pt"><P style="margin:0pt" align="center">5</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt; page-break-before:always" align=center><B>SIGNATURES</B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=justify>Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable ground to believe that it meets all of the requirements for filing on form S-8, and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Temecula, California, on November 22, 2006. </P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=165></TD></TR>
<TR><TD width=220><P style="line-height:14pt; margin:0pt; font-size:12pt"><B>GTREX Capital, Inc.</B></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><I>By:<U>/s/ Gary Nerison</U></I></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</B></P>
</TD></TR>
</TABLE>
<P style="margin:5pt"><BR></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; padding-left:162pt; font-size:12pt">&nbsp;&nbsp;<BR>
</P>
<P style="margin:5pt" align=center><BR></P>
<P style="margin:5pt"><BR></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Pursuant to the requirements of the Securities Act of 1933, the registration statement has been signed by the following persons in the capacities and on the date(s) indicated.</P>
<TABLE style="font-size:10pt" cellspacing=0 height="298"><TR>
  <TD width=131.4 height="1"></TD><TD width=189 height="1"></TD>
  <TD width=122.4 height="1"></TD></TR>
<TR><TD valign=top width=175.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Signature</P>
</TD><TD valign=top width=252 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Title</P>
</TD><TD valign=top width=163.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Date</P>
</TD></TR>
<TR><TD valign=bottom width=175.2 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=bottom width=252 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=bottom width=163.2 height="16"><P style="font-size:2pt"></P></TD></TR>
<TR><TD valign=top width=175.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Robert McCoy</P>
</TD><TD valign=top width=252 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Director</P>
</TD><TD valign=top width=163.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">November 22, 2006</P>
</TD></TR>
<TR><TD valign=top width=175.2 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=252 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=163.2 height="16"><P style="font-size:2pt"></P></TD></TR>
<TR><TD valign=top width=175.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Gary Halverson</P>
</TD><TD valign=top width=252 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Director</P>
</TD><TD valign=top width=163.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">November 22, 2006</P>
</TD></TR>
<TR><TD valign=top width=175.2 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=252 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=163.2 height="16"><P style="font-size:2pt"></P></TD></TR>
<TR><TD valign=top width=175.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">James Bickel</P>
</TD><TD valign=top width=252 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Director</P>
</TD><TD valign=top width=163.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">November 22, 2006</P>
</TD></TR>
<TR><TD valign=top width=175.2 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=252 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=163.2 height="16"><P style="font-size:2pt"></P></TD></TR>
<TR><TD valign=top width=175.2 height="33"><P style="line-height:14pt; margin:0pt; font-size:12pt">Gary Nerison</P>
</TD><TD valign=top width=252 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Chairman and Chief Executive Officer</P>
</TD><TD valign=top width=163.2 height="33"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">November 22, 2006</P>
</TD></TR>
<TR><TD valign=top width=175.2 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=252 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=163.2 height="16"><P style="font-size:2pt"></P></TD></TR>
<TR><TD valign=top width=175.2 height="11"><P style="line-height:14pt; margin:0pt; font-size:12pt">Douglas Perkins</P>
</TD><TD valign=top width=252 height="11"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">Director</P>
</TD><TD valign=top width=163.2 height="11"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt">November 22, 2006</P>
</TD></TR>
<TR><TD valign=top width=175.2 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=252 height="16"><P style="font-size:2pt"></P></TD>
  <TD valign=top width=163.2 height="16"><P style="font-size:2pt"></P></TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:5pt" align=center><BR>
<BR></P>
</DIV><DIV style="width:492pt"><P style="margin:0pt" align="center">6</P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt; page-break-before:always" align=center><B>INDEX TO EXHIBITS</B></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=68.4></TD><TD width=374.4></TD></TR>
<TR><TD valign=bottom width=91.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Exhibit</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><U>No. &nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=499.2><P style="line-height:14pt; margin:0pt; font-size:12pt"><U>Description</U></P>
</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:14pt; margin:0pt; font-size:12pt">5.1</P>
</TD><TD valign=top width=499.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Opinion of Counsel, regarding the legality of the securities registered hereunder.</P>
</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:14pt; margin:0pt; font-size:12pt">10.1</P>
</TD><TD valign=top width=499.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Compensation Plan for Employees, Officers, Directors and Consultants</P>
</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:14pt; margin:0pt; font-size:12pt">23.1</P>
</TD><TD valign=top width=499.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Consent of Independent Auditors</P>
</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:14pt; margin:0pt; font-size:12pt">23.2</P>
</TD><TD valign=top width=499.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Consent of Counsel (Included as part of Exhibit 5.1)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin:0pt; font-size:12pt; page-break-before:always"><B>EXHIBIT 5.1</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>PARSONS LAW FIRM</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>ATTORNEYS AT LAW</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>2070 SKYLINE TOWER</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>10900 NE 4<SUP>th</SUP> STREET</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>BELLEVUE, WASHINGTON &nbsp;98004</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>(425) 451-8036 &nbsp;&nbsp;FAX (425) 451-8568</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center><B>www.parsonslaw.biz</B></P>
<P style="margin:0pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=221.4></TD><TD width=221.4></TD></TR>
<TR><TD valign=top width=295.2><P style="line-height:13pt; margin:0pt; font-size:11pt"><B>James B. Parsons*</B></P>
<P style="line-height:12.55pt; margin:0pt; font-size:11pt"><B>jparsons@parsonslaw.biz</B></P>
</TD><TD valign=top width=295.2><P style="line-height:13pt; margin:0pt; font-size:11pt" align=right><B>*Also admitted in Oregon and</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=right><B>the Northern Mariana Islands</B></P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">November 16, 2006</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">Board of Directors</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">GTREX Capital, Inc.</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">To Whom it May Concern:</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">In my capacity as counsel for GTREX Capital, Inc. (&quot;GTEX&quot;), I have participated in the corporate proceedings relative to the authorization and issuance by the Company of a maximum of 140,000,000 shares of common stock pursuant to the Compensation Plan for Employees, Officers, Directors and Consultants as set out and described in the Company's Registration Statement on Form S-8 under the Securities Act of 1933 (the &quot;Registration Statement&quot;). </P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">Based upon the foregoing and upon my examination of originals (or copies certified to our satisfaction) of such corporate records of the Company and other documents as I have deemed necessary as a basis for the opinions hereinafter expressed, and assuming the accuracy and completeness of all information supplied me by the Company, having regard for the legal considerations which I deem relevant, I opine that:</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:-18pt; font-size:12pt">1.</P>
<P style="line-height:14pt; margin:0pt; padding-left:36pt; font-size:12pt">The Company is a corporation duly organized and validly existing under the laws of the State of Delaware; </P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:-18pt; font-size:12pt">2.</P>
<P style="line-height:14pt; margin:0pt; padding-left:36pt; font-size:12pt">The Company has taken all requisite corporate action and all action required by the laws of the State of Delaware with respect to the authorization, issuance and sale of common stock to be issued pursuant to the Registration Statement; </P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:36pt; text-indent:-18pt; font-size:12pt">3.</P>
<P style="line-height:14pt; margin:0pt; padding-left:36pt; font-size:12pt">The maximum of 140,000,000 shares of common stock, when issued and distributed pursuant to the Registration Statement, will be validly issued, fully paid and nonassessable. </P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">I hereby consent to the use of this opinion as an exhibit to the Registration Statement and to the references to my firm in the Registration Statement.</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">Very Truly Yours,</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">PARSONS LAW FIRM</P>
<P style="margin:0pt"><BR>
<BR></P>
</DIV><DIV style="width:432pt">
<P style="line-height:14pt; margin:0pt; font-size:12pt"><U>/s/ James B. Parsons</U></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">James B. Parsons</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">JBP:aqs</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR>
<BR></P>
</DIV><DIV style="width:492pt">
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
</DIV><DIV style="width:432pt"><P style="line-height:14pt; margin:0pt; font-size:12pt; page-break-before:always"><B>EXHIBIT 23.1</B></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B><U>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</U></B></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt">To the Board of Directors of</P>
<P style="line-height:13pt; margin:0pt; font-size:11pt">Gtrex Capital, Inc.</P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=justify>Aliso Viejo, California</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=justify>We hereby consent to the incorporation by reference in this Registration Statement of Gtrex Capital, Inc., on Form S-8, of our audit report dated April 17, 2006, (which includes an emphasis paragraph relating to the Company&#146;s ability to continue as a going concern) of Gtrex Capital, Inc., for the year ended December 31, 2005 and 2004, and to all references to our firm as experts included in this Registration Statement.</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt"><U>/s/ Chisholm, Bierwolf &amp; Nilson</U></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">Chisholm, Bierwolf &amp; Nilson</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">Bountiful, Utah</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt">November 22, 2006</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
  <HR NOSHADE ALIGN="left" COLOR="#000000">
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
</DIV></BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "gtrexs82006.htm", "description": "SECURITIES TO BE OFFERED TO EMPLOYEES IN EMPLOYEE BENEFIT PLANS", "secsgml_size_bytes": 37120}]
{"company-data": {"conformed-name": "GTREX CAPITAL, INC.", "cik": "0000944020", "assigned-sic": "7389", "irs-number": "134171971", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-138928", "film-number": "061237154"}, "business-address": {"street1": "43180 BUSINESS PARK DRIVE SUITE 202", "city": "TEMECULA", "state": "X1", "zip": "92590", "phone": "951-587-9100"}, "mail-address": {"street1": "43180 BUSINESS PARK DRIVE SUITE 202", "city": "TEMECULA", "state": "X1", "zip": "92590"}, "former-company": [{"former-conformed-name": "GTREX INC", "date-changed": "20040225"}, {"former-conformed-name": "APOLLO HOLDINGS INC", "date-changed": "20010404"}]}
FORM S-8
As filed with the Securities and Exchange Commission on November 22, 2006
Registration No. 333-___________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
GTREX Capital, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE
13-4171971
(State or other jurisdiction of
Incorporation or organization)
(I.R.S. Employer Identification Number)
GTREX Capital, Inc.
43180 Business Park Dr., Suite 202
Temecula, California 92590
(Address of principal executive offices)  (Zip code)
COMPENSATION PLAN FOR EMPLOYEES, OFFICERS, DIRECTORS AND
CONSULTANTS
(Full title of plan)
Gary Nerison
GTREX Capital, Inc.
43180 Business Park Drive, Suite 202
Temecula, California  92590
(Name and address of agent for service)
(951) 587-9100
(Telephone number, including area code of agent for service)
Copy to:
James Parsons
10900 NE 4th Street
Bellevue, WA
(425) 451-8036
CALCULATION OF REGISTRATION FEE
Proposed Maximum    Proposed Maximum
Title Of Securities    Amount To Be     Offering Price              Aggregate                        Amount of
To Be Registered
Registered
(1)
Per Share
(2)
Offering Price
Registration Fee
Common Stock           140,000,000          $.003                         $420,000.00                     $44.94
($0.001 Par Value)
(1) Represents 140,000,000 shares of Common Stock to be issued to employees and consultants as compensation for services rendered
(2) Estimated solely for the purpose of determining the amount of registration fees and pursuant to Rules 457(c) and 457(h) of the General Rules and Regulations under the Securities Act of 1933.
1
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.
Plan Information
The documents containing the information specified in Item 1 will be sent or given to participants in the Plan as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act"). Such documents are not being filed with the Securities and Exchange Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in the Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
Item 2.  Registrant Information and Employee Plan Annual Information
Upon written or oral request, any of the documents incorporated by reference in Item 3 of Part II of this Registration Statement (which documents are incorporated by reference in this Section 10(a) Prospectus), other documents required to be delivered by eligible employees, non-employee directors and consultants, pursuant to Rule 428(b) are available without charge by contacting:
Gary Nerison
GTREX Capital, Inc.
43180 Business Park Drive, Suite 202
Temecula, California  92590
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.  Incorporation of Documents by Reference
The following documents filed with the Securities and Exchange Commission (the "Commission") by GTREX Capital, Inc., a California corporation (the "Company"), are incorporated herein by reference:
(a)
The Company's latest Annual Report on Form 10-K for the year ended December 31, 2005, as filed with the Securities and Exchange Commission on April 27, 2006;
(b)
The reports of the Company filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") since the fiscal year ended December 31, 2005;
2
(c)
The description of the Company's common stock contained in its Form 10-K filed April 27, 2006 (File No. 814-00697), including any amendment or report filed for the purpose of updating such description.
All other documents filed by the Company after the date of this Registration Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or de-registers all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing such documents.
We will furnish to each person to whom this Prospectus is delivered, upon written or oral request, a copy of any or all of the documents referred to by reference.  Requests should be addressed to: Gary Nerison, GTREX Capital, Inc., 43180 Business Park Drive, Suite 202, Temecula, California  92590.  Our telephone number is (951) 587- 9100.
The public may read and copy any materials we file with the Securities and Exchange Commission at the SEC's Public Reference Room located at 100 F Street, NE, Washington, DC 20549.  The public may obtain information on the operation of the Public Reference Room by calling 1-(800)-SEC-0330.  The Commission maintains a World Wide Web site on the Internet at http://www.sec.gov that contains reports, proxy and information statements and other information regarding us and other registrants that file electronically with the Commission.
Item 4. Description of Securities:
Not Applicable
Item 5. Interests of Named Experts and Counsel:
None
Item 6. Indemnification for Directors and Officers:
The Company's articles of incorporation, as amended, contain the following indemnification provision:  The corporation shall indemnify its officers, directors and stockholders from all liability of any type or sort whatever, as may exist as a direct or indirect result of their status or actions as such officer, director or stockholder, except as may arise due to the gross negligence or willful misconduct of any such person.  The Company may purchase indemnification insurance for officers and directors.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the registrant pursuant to the foregoing provisions, the registrant has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is therefore unenforceable.
3
Item 7. Exemption from Registration Claimed:
Not Applicable
1tem 8. Exhibits:
The exhibits to this Registration Statement are listed in the index to Exhibits on Page 7.
Item 9. Undertakings:
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or events which, individually or together, represent a fundamental change in the information set forth in this Registration Statement;
(iii)
To include any additional or changed material information on the plan of distribution; provided, however, that paragraph 1(I) and 1(ii) do not apply if the information required to included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2)
That for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered hereunder that remain unsold at the termination of the offering.
(b)
The undersigned company hereby undertakes that for purposes of determining any liability under the Securities Act of 1933, each filing of the company's annual report pursuant to Section 13(a) or Section 15(d) of the Securities and Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
4
(c)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Company pursuant to the above-described provisions or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable ground to believe that it meets all of the requirements for filing on form S-8, and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Temecula, California, on November 22, 2006.
GTREX Capital, Inc.
By:
/s/ Gary Nerison
Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, the registration statement has been signed by the following persons in the capacities and on the date(s) indicated.
Signature
Title
Date
Robert McCoy
Director
November 22, 2006
Gary Halverson
Director
November 22, 2006
James Bickel
Director
November 22, 2006
Gary Nerison
Chairman and Chief Executive Officer
November 22, 2006
Douglas Perkins
Director
November 22, 2006
6
INDEX TO EXHIBITS
Exhibit
No.
Description
5.1
Opinion of Counsel, regarding the legality of the securities registered hereunder.
10.1
Compensation Plan for Employees, Officers, Directors and Consultants
23.1
Consent of Independent Auditors
23.2
Consent of Counsel (Included as part of Exhibit 5.1)
EXHIBIT 5.1
PARSONS LAW FIRM
ATTORNEYS AT LAW
2070 SKYLINE TOWER
10900 NE 4
th
STREET
BELLEVUE, WASHINGTON  98004
(425) 451-8036   FAX (425) 451-8568
www.parsonslaw.biz
James B. Parsons*
jparsons@parsonslaw.biz
*Also admitted in Oregon and
the Northern Mariana Islands
November 16, 2006
Board of Directors
GTREX Capital, Inc.
To Whom it May Concern:
In my capacity as counsel for GTREX Capital, Inc. ("GTEX"), I have participated in the corporate proceedings relative to the authorization and issuance by the Company of a maximum of 140,000,000 shares of common stock pursuant to the Compensation Plan for Employees, Officers, Directors and Consultants as set out and described in the Company's Registration Statement on Form S-8 under the Securities Act of 1933 (the "Registration Statement").
Based upon the foregoing and upon my examination of originals (or copies certified to our satisfaction) of such corporate records of the Company and other documents as I have deemed necessary as a basis for the opinions hereinafter expressed, and assuming the accuracy and completeness of all information supplied me by the Company, having regard for the legal considerations which I deem relevant, I opine that:
1.
The Company is a corporation duly organized and validly existing under the laws of the State of Delaware;
2.
The Company has taken all requisite corporate action and all action required by the laws of the State of Delaware with respect to the authorization, issuance and sale of common stock to be issued pursuant to the Registration Statement;
3.
The maximum of 140,000,000 shares of common stock, when issued and distributed pursuant to the Registration Statement, will be validly issued, fully paid and nonassessable.
I hereby consent to the use of this opinion as an exhibit to the Registration Statement and to the references to my firm in the Registration Statement.
Very Truly Yours,
PARSONS LAW FIRM
/s/ James B. Parsons
James B. Parsons
JBP:aqs
EXHIBIT 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors of
Gtrex Capital, Inc.
Aliso Viejo, California
We hereby consent to the incorporation by reference in this Registration Statement of Gtrex Capital, Inc., on Form S-8, of our audit report dated April 17, 2006, (which includes an emphasis paragraph relating to the Company's ability to continue as a going concern) of Gtrex Capital, Inc., for the year ended December 31, 2005 and 2004, and to all references to our firm as experts included in this Registration Statement.
/s/ Chisholm, Bierwolf & Nilson
Chisholm, Bierwolf & Nilson
Bountiful, Utah
November 22, 2006