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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-05-012598.txt : 20050628
<SEC-HEADER>0000950134-05-012598.hdr.sgml : 20050628
<ACCEPTANCE-DATETIME>20050628163641
ACCESSION NUMBER:		0000950134-05-012598
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050616
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20050628
DATE AS OF CHANGE:		20050628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CabelTel International 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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08187
		FILM NUMBER:		05921250

	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:	GREENBRIAR CORP
		DATE OF NAME CHANGE:	19960514

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d26607e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">



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<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT</B>



<P align="center" style="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act</B>


<P align="center" style="font-size: 10pt">Date of Report: June&nbsp;16, 2005<BR>
(Date of Earliest Event Reported)


<P align="center" style="font-size: 24pt"><B>CABELTEL INTERNATIONAL CORPORATION</B>


<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="30%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Nevada</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-08187</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75-2399477</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other<BR>
jurisdiction of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File No.)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>1755 Wittington Place, Suite&nbsp;340<BR>
Dallas, Texas 75234</B><BR>
(Address of principal executive offices)



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



<P align="center" style="font-size: 10pt"><B>972-407-8400</B><BR>
(Registrant&#146;s telephone number, including area code)


<P align="center" style="font-size: 24pt"><B>GREENBRIAR CORPORATION</B>


<DIV align="center" style="font-size: 10pt">(Former Name or Former Address if Changed Since Last Report)</DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the Registrant under any of the following provisions:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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</DIV>

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;8.01. Other Events</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During October&nbsp;2004, CabelTel International Corporation, formerly Greenbriar Corporation (the
&#147;Registrant&#148; or the &#147;Company&#148;) acquired two privately-held U.S. corporations in exchange for 31,500
shares of newly-designated Series&nbsp;J 2% Cumulative Preferred Stock (the &#147;Preferred Stock&#148;) issued to
four individuals in a stock-for-stock exchange of securities (the &#147;Acquisition Agreement&#148;). The
two U.S. corporations collectively own 100% of Tacaruna B.V., a Netherlands company, which in turn
directly and indirectly owns 74.8% of CableTEL AD (formerly known as Cable Bulgaria A.D., a
company incorporated in the Republic of Bulgaria) (&#147;CableTEL AD&#148;), which is engaged in the
telecommunications and information services industry in Bulgaria and certain surrounding countries.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the succeeding nine months since the consummation of the Acquisition Agreement,
Registrant has reviewed the capital requirements involving the ultimate ownership and support of a
direct and indirect interest in CableTEL AD, and management has incurred additional time and
expense in operating a growing business in Bulgaria in the midst of a consolidating communications
industry in eastern Europe. Also, through June&nbsp;24, 2005, CableTEL AD has been involved in
negotiations concerning the acquisition of up to ten other cable networks within Bulgaria. As part
of these considerations Registrant has sought various sources of financing for the future growth
and current operations cost of CableTEL AD.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the same period of time, the Company has discussed a number of possible arrangements
with several entities, including Cable Partners Europe LLC (&#147;CPE&#148;), a Denver, Colorado and London,
England-based entity with telecommunications interests in Europe, including Spain and Belgium. CPE
has publicly indicated it is searching for opportunities for development outside of the European
continent. Such discussions resulted on June&nbsp;16, 2005 in the Company allowing CPE an exclusivity
period of 45&nbsp;days to review the operations of CableTEL AD and to negotiate an arrangement with
either the Company or CableTEL AD for the acquisition by CPE of part of the operations of CableTEL
AD, subject to requisite regulatory approvals and funding of significant sums, as well as the
negotiation and execution of a definitive agreement once some determination is made of the precise
structure of the transaction which is to be tax-favorable to all parties and mutually-agreeable as
to all legal aspects. As of the date of this Report, no definitive agreement has been negotiated,
written or executed binding upon the Company or CPE. Similarly, no letter of intent or other
instrument creating a financial obligation has been issued or executed. A general &#147;Term Sheet
Summary&#148; outlining certain principle concepts has been prepared. The concepts currently discussed
provide an exclusivity period of 45&nbsp;days to CPE (expiring no later than July&nbsp;31, 2005) in which CPE
may complete due diligence and offer an arrangement. The discussions currently center on the cable
operations, but not all assets of CableTEL AD.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although no specific transaction has occurred or been determined, various interpretations
have been issued or written by financial and industry press publications in the telecommunications
industry, specifically in Europe and England, suggesting or stating the announcement of a
&#147;strategic partnership&#148; intended to provide a platform for large-scale investment in the field of
cable television, internet and telephony services in the Bulgarian market&#148; between CableTEL AD and
CPE. At present, no arrangement exists, but CPE does have a period of time to attempt to put
together an arrangement, which period may or may not be extended.



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

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



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly-caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto
duly-authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
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</TR>
<TR>
    <TD valign="top" align="left">Dated: June 28, 2005.&nbsp;</TD>
    <TD colspan="3" align="left">CABELTEL INTERNATIONAL CORPORATION<BR>
(formerly Greenbriar Corporation)<BR>
<BR>
&nbsp;<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/ Gene S. Bertcher
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Gene S. Bertcher, President and&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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


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