Banyan Corp /OR/ - Annual Statement of Changes in Beneficial Ownership (5)

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

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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(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Gelmon Cory H	2. Issuer Name and Ticker or Trading Symbol BANYAN CORP /OR/ [BANY]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director __ X __ 10% Owner __ X __ Officer (give title below) _____ Other (specify below) President and CFO
(Last) (First) (Middle) 3019 ROXBORO GLEN ROAD SW	3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY) 12/31/2007
(Street) CALGARY, A0 T2S1T9 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)	4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value							8651872 ⁽¹⁾ ⁽²⁾ ⁽³⁾ ⁽⁴⁾ ⁽⁵⁾	D

*Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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 (MM/DD/YYYY)		7. Title and Amount of Securities Underlying Derivative Security (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)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option to Buy	$.0002	2/15/2006		A	150000		2/15/2006	2/15/2011	Common Stock, no par value	150000 ⁽¹⁾ ⁽³⁾	$0	150000	D

Explanation of Responses:
( 1)	Share amounts reflect a one for one hundred reverse stock split effective September 5, 2007.
( 2)	All shares are pledged as security for a loan except for 639 shares (see footnote 5).
( 3)	Includes 150,000 immediately exercisable options. All options listed were exercisable as of December 31, 2007.
( 4)	On June 28, 2007, the reporting person was issued 8,250,000 shares of common stock in consideration for services rendered valued at $247,500 ($.0003 per share), including the waiver of his annual bonus payable with respect to the issuer's diagnostic testing business segment for 2006, and personally signing several guaranty and pledge agreements since 2004 including a pledge of all of the shares of the issuer owned of record by the reporting person as security for a loan. On July 10, 2007, the reporting person returned the 8,250,000 shares to the issuer for cancellation to reduce the number of shares issued and outstanding and to enable to the issuer to issue shares to certain investors upon conversion of their convertible notes. The issuer reissued the 8,250,000 shares to the reporting person on November 1, 2007.
( 5)	Includes 639 shares owned by members of the reporting person's immediate family.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Gelmon Cory H 3019 ROXBORO GLEN ROAD SW CALGARY, A0 T2S1T9	X	X	President and CFO

Signatures
Cory H. Gelmon		1/18/2008
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	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).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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