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 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(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * ATWELL ROBERT P 2. Issuer Name and Ticker or Trading Symbol Camelot Entertainment Group, Inc. [CMEG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO (Last) (First) (Middle) 2020 MAIN STREET, #990 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2007 (Street) IRVING, CA 92614 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Reporting (check applicable line) _X_ Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (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 09/12/2007   J4 3,000,000 D $ 0.004 20,966,496 D   Common Stock 08/02/2007   J 36,310 D $ 0 (1) 24,525,779 D   Preferred Series A 12/31/2007   P 4,401,090 A $ 0.004 9,501,090 D   Preferred Series B 12/31/2007   P 980,957 A $ 0.004 6,080,957 D   Common Stock 12/31/2007   P 0 A $ 0 (1) 200 I Spouse Common Stock 12/13/2007   J4 1,600,000 D $ 0.004 22,925,779 I Pres., Eagle Consulting Grp, Inc. Common Stock 12/13/2007   J 5,191,287 D $ 0 (1) 17,734,492 I Pres., Eagle Consulting Grp, Inc. Common Stock 08/02/2007   J 600 A $ 0 (1) 9,707,386 I Mgr., The Atwell Group, LLC Common Stock 08/02/2007   J 35,610 A $ 0 (1) 9,742,996 I Mgr., The Atwell Group, LLC Common Stock 08/02/2007   J 1,100 A $ 0 (1) 9,744,096 I Mgr., The Atwell Group, LLC Common Stock 08/02/2007   J 51,000 A $ 0 (1) 9,795,096 I Mgr., The Atwell Group, LLC Common Stock 08/02/2007   J 25,700 A $ 0 (1) 9,820,796 I Mgr., The Atwell Group, LLC Common Stock 08/02/2007   J 5,000 A $ 0 (1) 9,825,796 I Mgr., The Atwell Group, LLC Common Stock 12/13/2007   J 5,191,287 A $ 0 (1) 15,017,083 I Mgr., The Atwell Group, LLC Common Stock 12/13/2007   P4 10,000 A $ 0.004 15,027,083 I Mgr., The Atwell Group, LLC Common Stock 05/07/2007   P4 1,000 A $ 0.04 35,001,100 I Pres., The Corporate Solution, Inc. Common Stock 08/02/2007   J 1,100 D $ 0 (1) 3,500,000 I Pres., The Corporate Solution, Inc. Common Stock 05/07/2007   P4 25,000 A $ 0.04 25,700 I Pres., Love Bug Management Corp. Common Stock 08/02/2007   J 25,700 D $ 0 (1) 0 I Pres., Love Bug Management Corp. Common Stock 08/02/2007   J 5,000 D $ 0 (1) 0 I Pres., Asyst.com, Inc. Common Stock 05/07/2007   P4 18,000 A $ 0.04 51,000 I Mr. Atwell is controller of sep acct. Common Stock 08/02/2007   J 51,000 D $ 0 (1) 0 I Mr. Atwell is controller of sep acct. Common Stock 03/27/2007   J4 850,000 D $ 0.04 4,329,333 I Mr. Atwell is controller of sep acct. Common Stock 05/04/2007   J4 300,000 D $ 0.004 4,029,333 I Mr. Atwell is controller of sep acct. Common Stock 07/09/2007   J4 500,000 D $ 0.004 3,529,333 I Mr. Atwell is controller of sep acct. Common Stock 08/07/2007   J4 979,333 D $ 0.004 2,550,000 I Mr. Atwell is controller of sep acct. Common Stock 11/30/2007   J4 2,191,500 D $ 0.004 358,500 I Mr. Atwell is controller of sep acct.

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SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction 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 (Month/Day/Year)

7. Title and Amount of Underlying Securities (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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ATWELL ROBERT P 2020 MAIN STREET, #990 IRVING, CA 92614	  X	  X	  CEO	Â

Signatures

ROBERT P. ATWELL		02/20/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	All price entries of zero (for both Acquired and Disposed securities) denote the securities were transferred from a few trading accounts into one specific trading account.

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