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<SEC-DOCUMENT>0000950134-04-019826.txt : 20041223
<SEC-HEADER>0000950134-04-019826.hdr.sgml : 20041223
<ACCEPTANCE-DATETIME>20041223103407
ACCESSION NUMBER:		0000950134-04-019826
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20041223
DATE AS OF CHANGE:		20041223
GROUP MEMBERS:		GENE E PHILLIPS
GROUP MEMBERS:		INTERNATIONAL HEALTH PRODUCTS INC
GROUP MEMBERS:		JRG INVESTMENT CO INC
GROUP MEMBERS:		TACCO FINANCIAL INC

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GREENBRIAR CORP
		CENTRAL INDEX KEY:			0000105744
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-SKILLED NURSING CARE FACILITIES [8051]
		IRS NUMBER:				752399477
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-38763
		FILM NUMBER:		041222651

	BUSINESS ADDRESS:	
		STREET 1:		1755 WITTINGTON PLACE
		STREET 2:		SUITE 340
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		9724078400

	MAIL ADDRESS:	
		STREET 1:		1755 WITTINGTON PLACE
		STREET 2:		SUITE 340
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDICAL RESOURCE COMPANIES OF AMERICA
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESPAC INVESTORS TRUST
		DATE OF NAME CHANGE:	19900605

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BASIC CAPITAL MANAGEMENT INC
		CENTRAL INDEX KEY:			0000916476
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				752332719
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		1800 VALLEY VIEW LANE
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75234
		BUSINESS PHONE:		4695224200
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>d21154bsc13dza.htm
<DESCRIPTION>AMENDMENT TO SCHEDULE 13D
<TEXT>
<HTML>
<HEAD>
<TITLE>sc13dza</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<TABLE align="right" width="160" border="1" cellspacing="0" cellpadding="1">
<TR><TD align="center" nowrap>OMB APPROVAL</TD></TR>
<TR><TD nowrap>OMB Number: 3235-0145</TD></TR>
<TR><TD nowrap>Expires: December 31, 2005</TD></TR>
<TR><TD nowrap>Estimated average burden<BR>
hours per response...15</TD></TR></TABLE>

<BR clear="right">
<BR clear="right">

<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B><BR>
<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B></DIV>
<P align="center" style="font-size: 18pt"><B>SCHEDULE 13D</B>

<P align="center"><B>Under the Securities Exchange Act of 1934<BR>
(Amendment No. 7)*</B>

<P><DIV align="center" style="font-size: 24pt">Greenbriar Corporation</DIV>
<HR size="1" noshade>
<DIV align="center" style="font-size: 10pt">(Name of Issuer)</DIV>

<P><DIV align="center" style="font-size: 10pt">Common Stock, par value $0.01 per share<BR>
<HR size="1" noshade>
(Title of Class of Securities)</DIV>

<P><DIV align="center" style="font-size: 10pt">393648-40-7<BR>
<HR size="1" noshade>
(Cusip Number)</DIV>

<P> <DIV align="center" style="font-size: 10pt"> Ken L. Joines<BR>
1800 Valley View Lane, Suite 300<BR>
Dallas, Texas 75234<BR>
214-750-5800<BR>
214-361-0964 (Facsimile)<BR>
<HR size="1" noshade>
(Name, Address and Telephone Number of Person<BR>Authorized to Receive Notices and Communications)</DIV>
<P><DIV align="center" style="font-size: 10pt">December 14, 2004<BR>
<HR size="1" noshade>
(Date of Event Which Requires Filing of this Statement)</DIV>
<P align="left" style="font-size: 10pt">If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &#167;&#167;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. <FONT face="wingdings">&#111;</FONT>
<P>
<P align="left" style="font-size: 10pt"><B>Note:</B> Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See &#167;240.13d-7 for other parties to whom copies are to be sent.
<P>
<P align="left" style="font-size: 10pt"><SUP>*</SUP> The remainder of this cover page shall be filled out for a reporting person&#146;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
<P>
<P align="left" style="font-size: 10pt">The information required on the remainder of this cover page shall not be deemed to be &#147;filed&#148; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&#147;Act&#148;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="7">CUSIP No. 393648-40-7 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:&nbsp;&nbsp;Basic Capital Management, Inc.</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;
FEI 75-2332719</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):&nbsp;&nbsp;WC/OO</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:&nbsp;&nbsp;Nevada</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number of&nbsp;&nbsp;Shares&nbsp;&nbsp;Beneficially&nbsp;&nbsp;Owned by&nbsp;&nbsp; Each Reporting&nbsp;&nbsp;Person With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially Owned by Each Reporting Person:&nbsp;&nbsp;-0-</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;-0-%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See Instructions):&nbsp;&nbsp;CO</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="7">CUSIP No. 393648-40-7 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:&nbsp;&nbsp;TacCo Financial, Inc.</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;
FEI 75-2442090</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):&nbsp;&nbsp;AF/OO</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:&nbsp;&nbsp;Nevada</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number of&nbsp;&nbsp;Shares&nbsp;&nbsp;Beneficially&nbsp;&nbsp;Owned by&nbsp;&nbsp; Each Reporting&nbsp;&nbsp;Person With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:&nbsp;&nbsp;228,726</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive
Power:&nbsp;&nbsp;228,726</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially Owned by Each Reporting Person: &nbsp;&nbsp;385,612</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp;&nbsp; <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;39.47%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See Instructions):&nbsp;&nbsp;CO</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="7">CUSIP No. 393648-40-7 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:&nbsp;&nbsp;JRG Investment Co.</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;
FEI 75-2383811</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):&nbsp;&nbsp;AF/OO</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:&nbsp;&nbsp;Nevada</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number of&nbsp;&nbsp;Shares&nbsp;&nbsp;Beneficially&nbsp;&nbsp;Owned by&nbsp;&nbsp; Each Reporting&nbsp;&nbsp;Person With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:&nbsp;&nbsp;156,886</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive Power:&nbsp;&nbsp;156,886</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially Owned by Each Reporting Person: &nbsp;&nbsp;156,886</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp;&nbsp; <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;16.06%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See Instructions):&nbsp;&nbsp;CO</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="7">CUSIP No. 393648-40-7 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:&nbsp;&nbsp;Gene E. Phillips</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;
</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):&nbsp;&nbsp;WC/OO</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:&nbsp;&nbsp;U.S.</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number of&nbsp;&nbsp;Shares&nbsp;&nbsp;Beneficially&nbsp;&nbsp;Owned by&nbsp;&nbsp; Each Reporting&nbsp;&nbsp;Person With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially Owned by Each Reporting Person: &nbsp;&nbsp;-0-</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp;&nbsp; <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;0.0%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See Instructions):&nbsp;&nbsp;CO</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="7">CUSIP No. 393648-40-7 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:&nbsp;&nbsp;International Health Products, Inc.</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities only):&nbsp;&nbsp;
FEI 75-2302531</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):&nbsp;&nbsp;AF/OO</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:&nbsp;&nbsp;Nevada</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number of&nbsp;&nbsp;Shares&nbsp;&nbsp;Beneficially&nbsp;&nbsp;Owned by&nbsp;&nbsp; Each Reporting&nbsp;&nbsp;Person With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:&nbsp;&nbsp;9,970</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive Power:&nbsp;&nbsp;9,970</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive Power:&nbsp;&nbsp;-0-</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially Owned by Each Reporting Person: &nbsp;&nbsp;9,970</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):&nbsp;&nbsp; <FONT face="wingdings">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by Amount in Row (11):&nbsp;&nbsp;1.0%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See Instructions):&nbsp;&nbsp;CO</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt"><B>Item&nbsp;1. Security and Issuer</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No.&nbsp;7 to Statement on Schedule&nbsp;13D (this &#147;Amendment No.&nbsp;7&#148;) relates to shares
of Common Stock, par value $0.01 per share (the &#147;Shares&#148;) of Greenbriar Corporation, a Nevada
corporation (the &#147;Company&#148; or the &#147;Issuer&#148; or &#147;GBR&#148;), and amends the original Statement on Schedule
13D as amended by Amendment Nos. 1 through 6 to Statement on Schedule&nbsp;13D (collectively the
&#147;Amended Statement&#148;) filed by the &#147;Reporting Persons&#148; described below. The principal executive
offices of the Issuer are located at 1755 Wittington Place, Suite&nbsp;340, Dallas, Texas 75234. The
Shares are currently listed and traded on the American Stock Exchange, Inc. The CUSIP number of
the Shares is 393648-40-7.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment No.&nbsp;7 is being filed due to the acquisition by one of the Reporting Persons of
200,130 Shares on December&nbsp;14, 2004.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;2. Identity and Background</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;2 of the Amended Statement is further amended by restating the first portion of such item
as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)-(c) and (f). This Amendment No.&nbsp;7 is being filed on behalf of Basic Capital Management,
Inc., a Nevada corporation (&#147;BCM&#148;), International Health Products, Inc., a Nevada corporation
(&#147;IHPI&#148;), TacCo Financial, Inc. (formerly Institutional Capital Corporation), a Nevada corporation
(&#147;TFI&#148;), JRG Investment Co., Inc., a Nevada corporation (&#147;JRGIC&#148;), which became a wholly-owned
subsidiary of TFI effective for tax and accounting purposes at July&nbsp;31, 2004 &#091;see Item&nbsp;6 below&#093;,
and Gene E. Phillips, an individual. All of BCM, IHPI, TFI, JRGIC and Gene E. Phillips are
collectively referred to as the &#147;Reporting Persons.&#148; The Reporting Persons may be deemed to
constitute a &#147;Person&#148; within the meaning of Section&nbsp;13d of the Securities Exchange Act of 1934, as
amended. BCM is beneficially owned by a trust established for the benefit of the children of Gene
E. Phillips (the &#147;May Trust&#148;) who, although he is not an officer or director of BCM, continues to
have substantial contact with the management of BCM and has a significant influence on matters as a
representative of the May Trust. IHPI is owned by a separate trust established for the benefit of
the wife and children of Gene E. Phillips (the &#147;Martin Trust&#148;). IHPI is managed by Ken L. Joines
who also manages other private entities owned by Mr.&nbsp;Phillips or his family trusts. Mr.&nbsp;Joines
consults on a regular basis with Mr.&nbsp;Phillips regarding investments in marketable securities by
IHPI. IHPI generally makes such investments with funds borrowed from BCM. TFI is managed by the
same personnel who manage IHPI and other private companies owned by Gene E. Phillips or his family
trusts. These personnel consult on a regular basis with Mr.&nbsp;Phillips regarding investments in
marketable securities owned by TFI. TFI has generally made such investments with funds borrowed
from BCM. Each of TFI and JRG has its principal executive offices located at 555 Republic Drive,
Suite&nbsp;490, Plano, Texas 75074. IHPI has its principal office at 1755 Wittington Place, Dallas,
Texas 75234.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Source and Amount of Funds or Other Consideration</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the acquisition by TFI of 200,130 Shares and the Warrant and Stock Option
Agreement described in Items 5 and 6 below, TFI gave aggregate credits (acknowledged partial
payment) of $784,374.50 to certain obligors under certain indebtedness owed to TFI. No other funds
were required of TFI.


<P align="center" style="font-size: 10pt">1
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interest in Securities of the Issuer</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;According to the latest information available as of September&nbsp;30, 2004, the total number
of issued and outstanding Shares is believed to be 977,093 Shares, and the Reporting Persons own
and hold directly the following Shares as of December&nbsp;14, 2004:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="66%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>No. of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Approximate</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned Directly</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percent of Class</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">BCM</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">IHPI</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">TFI</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228,726</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">23.41</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">JRGIC</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">156,886</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16.06</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Gene E. Phillips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">395,582</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">40.49</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="4" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="4" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule&nbsp;13d-3 under the Exchange Act, each of the directors of IHPI may be deemed to
beneficially own the Shares held directly by IHPI; each of the directors of TFI (and JRGIC) may be
deemed to beneficially own the Shares held directly by TFI and JRGIC. Those individuals and the
number of Shares deemed beneficially owned pursuant to Rule&nbsp;13d-3 and the approximate percent of
class, as well as the relationship, are set forth in the following table as of December&nbsp;14, 2004:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="55%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Name of Director or</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>No. of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Approximate</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Manager</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Entity</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Beneficially Owned</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percent of Class</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Ryan T. Phillips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">BCM</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Mickey Ned Phillips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">BCM</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">-0-</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Ken L. Joines</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">IHPI</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">J.T. Tackett</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">TFI and JRGIC</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">385,612</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">39.47</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px">E. Wayne Starr</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">TFI and JRGIC</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">385,612</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">39.47</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="1" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left"><DIV style="margin-left:20px; text-indent:-10px">Total Shares beneficially owned by
Reporting Persons and individuals
listed above:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">395,452</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">40.49</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="4" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><HR size="4" noshade>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each of the directors of IHPI share voting and dispositive power over the 9,970 Shares
held directly by IHPI. Each of the directors of TFI share voting and dispositive power over the
228,726 Shares held directly by TFI. Each of the directors of JRGIC share voting and dispositive
power over the 156,886 Shares held by JRGIC.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;During the sixty calendar days ended December&nbsp;14, 2004, except for the transactions
described below, the Reporting Persons and their executive officers and directors did not engage in
any transaction in the Shares or any other equity interest derivative thereof.


<P align="center" style="font-size: 10pt">2
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;14, 2004, TFI acquired from Gainesville Real Estate LLC, a Texas limited
liability company (&#147;Gainesville&#148;), 200,130 Shares for a credit upon certain obligations of one or
more debtors, including Warwick Summit Square, Inc. (&#147;Warwick&#148;) in the amount of $730,474.50. See
also Item&nbsp;6 below for information involving this transaction and TFI&#146;s acquisition of a Warrant
(not presently exercisable) from Richard D. Morgan covering 170,000 Shares for a credit of $11,900,
and a Stock Option covering 40,000 Shares of GBR for a credit of $42,000.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;No person other than the Reporting Persons or members of their respective Boards of
Directors is known to have the right to receive or the power to direct receipt of dividends from,
or the proceeds of sale of, the Shares of GBR held by any of the Reporting Persons.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Contracts, Arrangements, Understandings or Relationships with respect to securities of the Issuer</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;6 of the Amended Statement is hereby further amended by adding the following at the end
of current Item&nbsp;6 in place of the last paragraph thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;14, 2004, TFI received by assignment and transfer 200,130 Shares of GBR from
Gainesville by crediting certain indebtedness of Warwick and other Richard D. Morgan affiliates to
TFI in the amount of $730,474.50 ($3.65 per Share). TFI also received an assignment from Richard
D. Morgan of a Warrant to purchase 170,000 Shares at an exercise price of $3.58 per Share (the
&#147;Warrant&#148;) and credited certain indebtedness pursuant to which Richard D. Morgan was obligated for
the amount of $11,900. The Warrant is not presently exercisable and will not become exercisable
until or unless stockholder approval of a specified transaction occurs prior to October&nbsp;1, 2005,
and a possible recission does not occur by that date; in either of those events, the Warrant will
become null and void by its terms. If the specified transaction is approved by the stockholders of
GBR, and if no recission of such transaction occurs, the Warrant will then be exercisable until
October&nbsp;31, 2009, and covers 170,000 Shares subject to certain adjustment in the event of a
reorganization of GBR. The transfer of the Warrant to TFI was consented to by GBR. TFI also
received an assignment and transfer from Richard D. Morgan of a Stock Option Agreement covering
40,000 Shares dated December&nbsp;16, 2003, and rights, benefits and privileges of Richard D. Morgan
arising thereunder. In consideration of the assignment of such Stock Option Agreement (which was
consented to by GBR), TFI gave a credit of $42,000 to Richard D. Morgan pursuant to certain
indebtedness owed to TFI. The Exercise Price under the Stock Option Agreement is $2.60 per Share,
and it is impracticable at this point in time to suggest that such Options should be exercised; the
Options are exercisable until December&nbsp;15, 2008.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth above, the Reporting Persons do not have any contracts, arrangements,
understandings or relationships, legal or otherwise, with any person with respect to any securities
of the Issuer, including but not limited to, transfer or voting of any of the securities, finders&#146;
fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of
profits or losses, or the giving or withholding of proxies.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Material to be Filed as Exhibits</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.


<P align="center" style="font-size: 10pt">3
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After reasonable inquiry and to the best of the respective knowledge or belief, the
undersigned certify that the information set forth in this Amendment No.&nbsp;7 to Schedule&nbsp;13D is true,
complete and correct.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dated: December&nbsp;21, 2004.

<P><DIV style="position: relative; float: left; margin-right: 1%; width: 45%">
<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="4" align="left">BASIC CAPITAL MANAGEMENT, INC.<BR>
&nbsp;</TD>
    <TD valign="top" align="left">&nbsp;</TD>
</TR><TR>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Scott Lewis
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Scott Lewis, Executive Vice President and&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">TACCO FINANCIAL, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Mary K. Willett
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Mary K. Willett, Vice President and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<DIV style="position: relative; float: right; margin-left: 1%; width: 45%">
<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">INTERNATIONAL HEALTH PRODUCTS, INC. <BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Ken L. Joines
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Ken L. Joines, President and Treasurer  &nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><BR>
JRG INVESTMENT CO., INC. <BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Mary K. Willett
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Mary K. Willett, Vice President and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Gene E. Phillips
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Gene E. Phillips&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
</DIV>
<BR clear="all"><BR>


<P align="center" style="font-size: 10pt">4
</DIV>

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