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<SEC-DOCUMENT>0000950134-08-002060.txt : 20080208
<SEC-HEADER>0000950134-08-002060.hdr.sgml : 20080208
<ACCEPTANCE-DATETIME>20080208155700
ACCESSION NUMBER:		0000950134-08-002060
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080208
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Changes in Control of Registrant
FILED AS OF DATE:		20080208
DATE AS OF CHANGE:		20080208

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:		08589202

	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>d53794e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


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








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

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

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM
8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date of Report (Date of earliest event reported):
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>February&nbsp;8, 2008</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>CABELTEL INTERNATIONAL CORPORATION<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></B>
</DIV>

<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%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<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 style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&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>
<TR valign="bottom"><!-- Blank Space -->
    <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 colspan="3" valign="top" align="center"><B>1755 Wittington Place, Suite&nbsp;340<BR>
Dallas, Texas<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"><B>75234</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Registrant&#146;s telephone number, including area code
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>972-407-8400</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&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:
</DIV>
<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</TD>
</TR>
</TABLE>
</DIV>


<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>





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







<!-- link2 "Item&nbsp;3.02. Unregistered Sales of Equity Securities" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;3.02.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Unregistered Sales of Equity Securities</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors of CabelTel International Corporation, a Nevada corporation (the
&#147;Company&#148; or the &#147;Issuer&#148; or &#147;GBR&#148;) on October&nbsp;19, 2007 approved and recommended to the
stockholders execution by the Company of a Securities Purchase Agreement effective as of October
19, 2007 (the &#147;Purchase Agreement&#148;) with URC Energy LLC, a Nevada limited liability company for the
issuance to URC Energy LLC of 950,000 shares of Common Stock in exchange for consideration of $3
per share (an aggregate of $2,850,000 in cash). On November&nbsp;5, 2007, by written consent in lieu of
a meeting, stockholders holding 576,387 shares of Common Stock of the Company (approximately 58% of
the class) voted such shares in favor of the approval and ratification of the proposed issuance of
950,000 new shares of Common Stock to URC Energy LLC. The Purchase Agreement is effective for all
purposes as of October&nbsp;19, 2007, although it was not executed by the parties until November&nbsp;16,
2007, following the approval by consent of the holders of 58% of the Common Stock. The Company
caused the preparation of and issuance to all stockholders of the Company of a Schedule&nbsp;14C
Information Statement which is being mailed on or about February&nbsp;8, 2008 to stockholders of record
as of the close of business on November&nbsp;5, 2007. Such Information Statement was submitted in
preliminary form to the Securities and Exchange Commission (the &#147;Commission&#148;) as required by Rule
14c-5 under the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;). Such 950,000 shares will not
be issued to URC Energy LLC until twenty-one (21)&nbsp;calendar days after the date of distribution of
the definitive copies of such Information Statement to the stockholders of the Company (estimated
to be February&nbsp;29, 2008). Pursuant to the terms of the Purchase Agreement, URC Energy LLC will not
be obligated to pay the purchase price of $2,850,000 until such time as certificates representing
such 950,000 shares are available for delivery.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date of approval by the Board of Directors and approval by the majority stockholders
on November&nbsp;5, 2007 and at present, there are 986,939 shares of Common Stock of the Company issued
and outstanding. After giving effect to the issuance of the new 950,000 of Common Stock, an
aggregate of 1,936,939 shares of Common Stock of the Company will be issued and outstanding. There
is no distinction among the existing shares of Common Stock presently outstanding and the new
950,000 shares of Common Stock to be issued to URC Energy LLC. Each share of Common Stock entitles
its holder to one vote on each matter submitted to the stockholders. 950,000 shares of Common Stock
are to be issued to URC Energy LLC pursuant to an exemption from registration afforded by Section
4(2) under the Securities Exchange Act of 1933, as amended. When issued, the certificate(s)
representing the 950,000 shares will contain a restrictive legend and URC Energy LLC in the
Purchase Agreement made certain representations and warranties to the Company concerning its
intended acquisition for investment for the purchasers own account without any view toward further
distribution of such securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No definitive determination has yet been made concerning expenditures or use of the proceeds
of $2,850,000 from the sale of 950,000 shares of Common Stock. At such time as same is received in
exchange for the issuance of certificates representing such 950,000 shares, the expectation of the
Company is to invest such proceeds and hold same as working capital for the Company. A portion of
the net proceeds from the sale and issuance of the 950,000 shares of Common Stock to URC Energy LLC
may be available to pay for seismic studies and other developmental costs in preparation for
drilling and/or actual drilling of development wells on leasehold interest acreage held by the
Company in Cleburne County, Arkansas. The Company may also utilize a portion of such proceeds to
solidify or consolidate its position in various sections of land in Arkansas in order to be the
controlling holder of more than one-half of the acreage in such sections.
</DIV>

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

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



<!-- link2 "Item&nbsp;5.01. Changes in Control of the Registrant" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;5.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Changes in Control of the Registrant</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the time of issuance of such 950,000 shares of Common Stock to URC Energy LLC
(estimated to be on or about February&nbsp;29, 2008), a &#147;deemed&#148; change of control will occur. Such 950,000 shares
of Common Stock, when issued, will constitute approximately 49% of the then issued and outstanding
Common Stock of the Company. URC Energy LLC is a Nevada limited liability company organized by
Articles of Organization filed with the Secretary of State of Nevada on October&nbsp;26, 2006; its sole
member is Syntek West, Inc., a Nevada corporation. One hundred percent (100%) of the issued and
outstanding stock of Syntek West, Inc. is owned by Gene E. Phillips.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gene E. Phillips, Basic Capital Management, Inc., a Nevada corporation (&#147;BCM&#148;), International
Health Products, Inc., a Nevada corporation (&#147;IHPI&#148;), TacCo Financial, Inc., a Nevada corporation
(&#147;TFI&#148;) and its wholly owned subsidiary, JRG Investment Co., Inc., a Nevada corporation (&#147;JRGIC&#148;)
are all &#147;reporting persons&#148; who may be deemed to constitute a &#147;person&#148; within the meaning of
Section&nbsp;13d of the Exchange Act, as three of such corporations are existing owners of shares of
Common Stock of the Company which are the subject of a Schedule&nbsp;13D and amendments thereto file don
behalf of Mr.&nbsp;Phillips and such corporations with the Commission. Reference is made to such
Schedule&nbsp;13D and amendments nos. 1 through 10 thereof, the last of which was filed for event date
November&nbsp;5, 2007 on file with the Commission for a summary of the information contained therein.
As of November&nbsp;5, 2007 (and currently), IHPI own 9,970 shares of Common Stock of the Company
(approximately 1% of the current outstanding), TFI own 228,726 shares of Common Stock of the
Company (approximately 23.18% of the current outstanding) and JRGIC own 156,886 shares of Common
Stock of the Company (approximately 15.9% of the current outstanding) which in the aggregate total
395,582 shares of Common Stock of the Company or approximately 40% of the currently issued and
outstanding shares of Common Stock. After giving effect to the issuance of the 950,000 shares of
Common Stock to URC Energy LLC, such corporations, Mr.&nbsp;Phillips and URC Energy LLC will all in the
aggregate be deemed own collectively approximately 69% of the then issued and outstanding shares of
Common Stock of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The date of the transaction which will result in the deemed change of control will be the date
of actual issuance of the 950,000 shares of Common Stock of the Company in exchange for payment of
$3 per share (a total of $2,850,000). See Item&nbsp;3.02 above. The basis of control is the aggregate
percentage of voting securities of the registrant which will be then owned by the reporting persons
(approximately 69%). At present, there are no arrangements or understandings among members of a
&#147;control group&#148; and their associates with respect to the election of directors or other matters.
Representatives of URC Energy LLC and the other reporting persons have advised the Company that
they have no specific plans or proposals, once the transaction is consummated, to cause a material
change in the membership of the Board of Directors or management of the Company, although URC
Energy LLC has reserved the right, from time to time, to reconsider that position to, in the
future, request that its designees be nominated for election as directors in the future. The
reporting persons have also advised the Company that such reservation should not be viewed as and
there is no present intention to request or make any change in the present Board of Directors or
management of the Company or any plans or proposals to change the number or term of directors or to
fill any vacancies on the Board of Directors of the Company.
</DIV>

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

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



<!-- link1 " SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned hereunto duly-authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Dated: February 8, 2008&nbsp;</TD>
    <TD colspan="3" align="left">CABELTEL INTERNATIONAL CORPORATION<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 Chief&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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



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