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 * SUMMIT CAPITAL MANAGEMENT LLC 2. Issuer Name and Ticker or Trading Symbol VERAMARK TECHNOLOGIES INC [VERA.OB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 600 UNIVERSITY ST, SUITE 2304 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2007 (Street) SEATTLE, WA 98101 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 par value $0.10 per share     3         D (1) (2) (3)   Common Stock par value $0.10 per share     3         D (1) (4) (5)   Common Stock par value $0.10 per share 01/03/2007   P4 2,500 A $ 0.7875 1,375,100 D (3)   Common Stock par value $0.10 per share 01/04/2007   P4 2,500 A $ 0.795 1,377,600 D (3)   Common Stock par value $0.10 per share 01/09/2007   P4 2,000 A $ 0.795 1,379,600 D (3)   Common Stock par value $0.10 per share 01/11/2007   P4 3,000 A $ 0.815 1,382,600 D (3)   Common Stock par value $0.10 per share 05/03/2007   P4 7,000 A $ 0.8321 1,389,600 D (3)   Common Stock par value $0.10 per share 05/04/2007   P4 20,000 A $ 0.8257 1,409,600 D (3)   Common Stock par value $0.10 per share 05/07/2007   P4 6,000 A $ 0.81 1,415,600 D (3)   Common Stock par value $0.10 per share 06/28/2007   P4 6,500 A $ 0.8123 1,422,100 D (3)   Common Stock par value $0.10 per share 08/10/2007   P4 10,000 A $ 0.7715 1,432,100 D (3)   Common Stock par value $0.10 per share 08/30/2007   P4 11,000 A $ 0.765 1,443,100 D (3)   Common Stock par value $0.10 per share 09/27/2007   P4 18,480 A $ 0.8531 1,461,580 D (3)   Common Stock par value $0.10 per share 10/04/2007   P4 500 A $ 0.8 1,462,080 D (3)   Common Stock par value $0.10 per share 10/08/2007   P4 900 A $ 0.7867 1,462,980 D (3)   Common Stock par value $0.10 per share 10/18/2007   P4 245 A $ 0.77 1,463,225 D (3)   Common Stock par value $0.10 per share 10/19/2007   P4 25 A $ 0.77 1,463,250 D (3)   Common Stock par value $0.10 per share 10/23/2007   P4 11,000 A $ 0.7752 1,474,250 D (3)   Common Stock par value $0.10 per share 10/29/2007   P4 500 A $ 0.8 1,474,750 D (3)   Common Stock par value $0.10 per share 10/31/2007   P4 800 A $ 0.7938 1,475,550 D (3)   Common Stock par value $0.10 per share 11/01/2007   P4 500 A $ 0.805 1,476,050 D (3)   Common Stock par value $0.10 per share 11/26/2007   P4 6,000 A $ 0.82 1,482,050 D (3)   Common Stock par value $0.10 per share 11/29/2007   P4 690 A $ 0.7875 1,482,740 D (3)   Common Stock par value $0.10 per share 12/06/2007   P4 4,000 A $ 0.79 1,486,740 D (5)   Common Stock par value $0.10 per share 12/10/2007   P4 5,500 A $ 0.79 1,492,240 D (5)   Common Stock par value $0.10 per share 12/12/2007   P4 1,150 A $ 0.81 1,493,390 D (5)   Common Stock par value $0.10 per share 12/19/2007   P4 14,500 A $ 0.7151 1,507,890 D (3)   Common Stock par value $0.10 per share 12/20/2007   P4 9,500 A $ 0.7266 1,517,390 D (3)   Common Stock par value $0.10 per share 12/26/2007   P4 2,100 A $ 0.7375 1,519,490 D (3) Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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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
SUMMIT CAPITAL MANAGEMENT LLC 600 UNIVERSITY ST SUITE 2304 SEATTLE, WA 98101	Â	  X	Â	Â

Signatures

/s/ John C. Rudolf		02/14/2008
**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)	The specific transaction date on which the reporting persons became 10% beneficial owners of the registrant's common stock cannot be determined. The reporting persons have only acquired securities of the registrant and have never sold any securities of the registrant as of the date of the filing of this Form 5.
(2)	Summit Capital Management, Summit Capital Partners and Summit Special Situations beneficially owned 1,142,600 shares as of the end of the registrant's fiscal year, December 31, 2006.
(3)	Securities owned directly by Summit Special Situations.
(4)	Farragut beneficially owned 230,000 shares as of the end of the registrant's fiscal year, December 31, 2006.
(5)	Securities owned directly by Farragut.
  Remarks: This Form 5 is being jointly filed on behalf of Summit Capital Management, LLC ("Summit Capital Management"), Summit Capital  Partners, LLC ("Summit Capital Partners"), Summit Special Situations Fund, LP ("Summit Special Situations"), Farragut  Partners LLC ("Farragut") and John C. Rudolf ("Rudolf").  The reporting persons are members of a Section 13(d) group owning  more than 10% of the outstanding common stock of the registrant.  1,278,840 shares of the registrant's securities reported  in this Form 5 are owned directly by Summit Special Situations.  240,650 shares of the registrant's securities reported in  this Form 5 are owned directly by Farragut.  Summit Capital Management is the investment advisor of Summit Capital Partners.   Summit Capital Partners is the general partner of Summit Special Situations.  Rudolf is the Managing Member of Summit  Capital Partners and the President of Summit Capital Management.  Each of the reporting persons other than Summit Special  Situations and Farragut disclaim beneficial ownership of the reported securities except to the extent of its pecuniary  interest therein.  Summit Capital Management, Summit Capital Partners and Summit Special Situations disclaim beneficial  ownership of the reported securities held by Farragut and Farragut disclaims beneficial ownership of the reported securities  held by Summit Capital Management, Summit Capital Partners and Summit Special Situations.

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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