Ownership Submission
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)

130 VANTIS #140
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2007
(Street)


ALISO VIEJO, CA 92656
4. If Amendment, Date Original Filed(Month/Day/Year)
02/21/2008
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 100 D $ 0 (1) 20,966,396 D  
Common Stock 08/02/2007   J 600 D $ 0 (1) 20,965,796 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 08/02/2007   J 35,610 D $ 0 (1) 24,525,779 I (2) Pres., Eagle Consulting Grp, Inc.
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 3,501,100 (3) 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.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. 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. 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
130 VANTIS #140
ALISO VIEJO, CA 92656
  X   X   CEO  

Signatures

ROBERT P. ATWELL 03/07/2008
**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.
(2) Disposed transaction of 35,610 inadvertantly coded Direct ownership rather than Indirect ownership of Eagle Consulting Group, Inc.
(3) Correction of Securities Beneficially Owned.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

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