FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported 		UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  

OMB APPROVAL
OMB Number: 3235-0362
Expires: January 31, 2008
Estimated average burden
hours per response... 1.0
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Gelmon Michael J

2. Issuer Name and Ticker or Trading Symbol

BANYAN CORP /OR/ [BANY]

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Executive Officer

(Last)          (First)          (Middle)

8 FISHERMAN'S POINT ELBOW VALLEY,  ROCKY VIEW MD NO 44

3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2007 
(Street)

CALGARY, A0 T3Z 1B1

(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person


Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock, no par value                 8646233   (1) (2) (3) (4) D    

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Buy   $.0002   2/15/2006     A   150000       2/15/2006   2/15/2011   Common Stock, no par value   150000   $0   150000   (1) (3) D    

Explanation of Responses:
( 1)  Share amounts reflect a one for one hundred reverse stock split effective September 5, 2007.
( 2)  All shares are pledged as security for a loan.
( 3)  Includes 150,000 immediately exercisable options. All options listed were exercisable as of December 31, 2007.
( 4)  On June 28, 2007, the reporting person was issued 8,250,000 shares of common stock in consideration for services rendered valued at $247,500 ($.0003 per share), including the waiver of his annual bonus payable with respect to the issuer's diagnostic testing business segment for 2006, and personally signing several guaranty and pledge agreements since 2004 including a pledge of all of the shares of the issuer owned of record by the reporting person as security for a loan. On August 21, 2007, the reporting person returned the 8,250,000 shares to the issuer for cancellation to reduce the number of shares issued and outstanding and to enable to the issuer to issue shares to certain investors upon conversion of their convertible notes. The issuer reissued the 8,250,000 shares to the reporting person on November 1, 2007.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Gelmon Michael J
8 FISHERMAN'S POINT ELBOW VALLEY
ROCKY VIEW MD NO 44
CALGARY, A0 T3Z 1B1 		X X Chief Executive Officer

Signatures
Michael J. Gelmon 1/18/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Banyan (CE) (USOTC:BNYN)
Historical Stock Chart
Von Nov 2024 bis Dez 2024 Click Here for more Banyan (CE) Charts.
Banyan (CE) (USOTC:BNYN)
Historical Stock Chart
Von Dez 2023 bis Dez 2024 Click Here for more Banyan (CE) Charts.