UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 14F-1

INFORMATION STATEMENT
PURSUANT TO SECTION 14(f) OF THE
SECURITIES EXCHANGE ACT OF 1934
AND RULE 14f-1 THEREUNDER

PROTEO, INC.
(Exact name of registrant as
specified in its corporate charter)

000-27039
Commission File No.

NEVADA 88-0292249
(IRS Employer
(State of Incorporation) Identification No.)

2775 MESA VERDE DRIVE EAST, #F101
COSTA MESA, CA 92626
(Address of principal executive offices)

(949) 979-7074
(Issuer's telephone number)

PROTEO, INC.
2775 MESA VERDE DRIVE EAST, #F101
COSTA MESA, CA 92626
(949) 979-7074

INFORMATION STATEMENT PURSUANT TO
SECTION 14(f) OF THE SECURITIES
EXCHANGE ACT OF 1934 AND RULE 14f-1 THEREUNDER

GENERAL

This Information Statement is being mailed on or about January 11,
2002 to the holders of shares of common stock, par value $0.001 (the "Common
Stock") of Proteo, Inc., a Nevada corporation ("Proteo" or the "Company"), as of
January 1, 2002. You are receiving this Information Statement in connection
with the elections of persons designated by the current Board of Directors of
the Company to a majority of the seats on the Board (the "Board").

On December 28, 2001, the Company entered into a Shell Acquisition
Agreement with Proteo, Inc. which results in a restructuring of the Company's
management, Board of Directors, and ownership.

In accordance with the Shell Acquisition Agreement, Proteo, Inc. acquired
176,660,280 shares of the Company's common stock from Sitestar Corporation,
representing approximately 90% of the issued and outstanding common stock of the
Company. As part of the Agreement, the existing directors of the Company
resigned and appointed Oliver Wiedow, Birge Bargmann, Holger Pusch, Ulrich Gl
ser, Hartmut Weigelt and Joerg Alte to the Board of Directors. Those directors
elected Joerg Alte as President and Chief Financial Officer and Ulrich Gl ser as
Secretary.

The name of the Company is being changed to Proteo, Inc. The name of the
acquiring entity is being changed from Proteo, Inc. to Proteo Marketing, Inc.

Immediately upon completion of the reverse stock split and the name change,
the Company will issue an aggregate of 20,286,512 shares to the shareholders of
Proteo Marketing, Inc. in consideration for their Proteo Marketing, Inc. shares.
This will result in approximately 21,953,179 shares issued and outstanding.

YOU ARE URGED TO READ THIS INFORMATION STATEMENT CAREFULLY. YOU ARE NOT,
HOWEVER, REQUIRED TO TAKE ANY ACTION.

VOTING SECURITIES AND PRINCIPAL HOLDERS THEREOF

Voting Securities of the Company
- ------------------------------------

As of January 4, 2002, there were 196,000,000 shares of Common Stock issued
and outstanding. Each share of Common Stock entitles the holder thereof to one
vote on each matter which may come before a meeting of the shareholders. As
part of the reorganization, the Company will undertake a one for one hundred
fifty reverse stock split of the common stock, resulting in approximately
1,306,667 shares issued and outstanding after the split.

Security Ownership of Certain Beneficial Owners and Management
- ---------------------------------------------------------------------

The following table sets forth, as of January 4, 2002, certain information
with respect to the Company's equity securities owned of record or beneficially
by (i) each Officer and Director of the Company; (ii) each person who owns
beneficially more than 5% of each class of the Company's outstanding equity
securities; and (iii) all Directors and Executive Officers as a group. The
address for all of the following entities and individuals is c/o Proteo, Inc.,
2775 Mesa Verde Drive East, #F101, Costa Mesa, CA 92626. The numbers reflect a
proposed 1 for 150 reverse stock split of the Company's common stock and the
issuance of 20,286,512 newly issued shares to the shareholders of Proteo
Marketing, Inc. in exchange for their Proteo Marketing, Inc. shares.

Name and Address of Amount and Nature of Percent
Title of Class. . . . . . . . . . . . . . . . . . . Beneficial Owner Beneficial Ownership (1) of Class
- --------------------------------------------------- ---------------------- ------------------------ --------
Common. . . . . . . . . . . . . . . . . . . . . . . Proteo Marketing, Inc. 1,177,735 5.4%
Stock
Common. . . . . . . . . . . . . . . . . . . . . . . Oliver Wiedow 10,680,000 48.6%
Stock
Common. . . . . . . . . . . . . . . . . . . . . . . Birge Bargmann 2,000,000 9.3%
Stock
Common. . . . . . . . . . . . . . . . . . . . . . . Holger Pusch 20,000 0.1%
Stock
Common. . . . . . . . . . . . . . . . . . . . . . . Ulrich Glaser 100,000 0.5%
Stock
Common. . . . . . . . . . . . . . . . . . . . . . . Hartmut Weigelt 150,000 0.7%
Stock
Common. . . . . . . . . . . . . . . . . . . . . . . Joerg Alte 140,000 0.6%
Stock
All officers and directors as a group (6 persons) 13,090,000 60.6%

(1) Based on 21,593,179 shares outstanding after the reverse stock split and
the issuance of shares to Proteo Marketing, Inc. shareholders

Changes in Control
- --------------------

On December 28, 2001, the Company entered into the Shell Acquisition
Agreement which resulted in a restructuring of the Company's management, Board
of Directors, and ownership, and a change in control of the Company.

DIRECTORS AND EXECUTIVE OFFICERS

Legal Proceedings
- ------------------

The Company is not aware of any legal proceedings in which any director,
officer, or any owner of record or beneficial owner of more than five percent of
any class of voting securities of the Company, or any affiliate of any such
director, officer, affiliate of the Company, or security holder, is a party
adverse to the Company or has a material interest adverse to the Company.

Directors and Executive Officers
- -----------------------------------

The following table sets forth the names and ages of the current and
incoming directors and executive officers of the Company, the principal offices
and positions with the Company held by each person and the date such person
became a director or executive officer of the Company. The executive officers
of the Company are elected annually by the Board of Directors. The directors
serve one year terms until their successors are elected. The executive officers
serve terms of one year or until their death, resignation or removal by the
Board of Directors. Unless described below, there are no family relationships
among any of the directors and officers.

Name Age Positions

Joerg Alte . . . . . . . . . . 39 President, Chief Executive Officer, Chief Financial Officer, and Director

Professor Oliver Wiedow, MD. 44 Director

Birge Bargmann . . . . . . . . 39 Director

Holger Pusch . . . . . . . . 44 Director

Ulrich Glaser. . . . . . . . 43 Secretary and Director

Hartmut Weigelt, Ph.D. . . . 55 Director

BIOGRAPHICAL INFORMATION:

JOERG ALTE, currently serves as the President, Chief Executive Officer,
Chief Financial Officer and Director of the Company. Mr. Alte is a German
lawyer by training and practice. After studying law and passing his second
state examination, he worked for more than three years at a German law office
predominantly engaged in economic and corporate laws with both public and
private company clients engaged in international business. Subsequently, Mr.
Alte worked as a legal advisor with a German diagnostic company, where he also
practiced German and U.S. Securities laws. From November 1998 to April 2000,
Mr. Alte served as President and CEO for Sangui BioTech International, Inc., a
publicly traded company.

PROF. OLIVER WIEDOW, M.D., currently serves as a Director of the Company.
For the last 13 years, Prof. Wiedow has served as physician and scientist at the
University of Kiel, Germany. Currently, Prof. Wiedow is a Professor of
dermatology, venerology and allergology at the university's dermatological
clinic. Mr. Wiedow discovered Elafin in human skin and has researched its
biological effects. He has knowledge in bio-chemics, which is needed for the
production of Elafin.

BIRGE BARGMANN, currently serves as a Director of the Company. For the
last ten years, Ms. Bargmann has worked as a medical technique assistant engaged
in the Elafin project at the dermatological clinic of the University of Kiel.
She co-developed and carried out procedures to detect and to clean up Elafin.

HOLGER PUSCH, currently serves as a Director of the Company. Mr. Pusch is
presently employed by Agfa-Gaevert. For the last 15 years, Mr. Pusch has worked
as a Director of Marketing and Distribution and as a division leader for major
German companies. As Director of Distribution Export, he is currently
responsible for the division of business with investment goods of (WHICH ONE?) a
well-known German company mainly engaged in imaging technologies.

ULRICH GLASER, currently serves as Secretary and as a Director of the
Company. Before joining Proteo AG as Chief Executive Officer in May 2001, Mr.
Glaser was sales and marketing manager at Draeger ProTech Gmb H in L beck,
Germany. In addition to his degrees in economics and engineering, he has a
Master of Business Marketing (MBM) degree from the Technical University of
Berlin.

HARTMUT WEIGELT, PH.D., currently serves as a Director of the Company.
Since 1996, Mr. Weigelt has served as the managing director of Eco Impact GmbH
which he co-founded. Mr. Weigelt also currrently serves as a consultant for
EuroAmerican GmbH of Mulheim, Germany. Between 1995 and 1996, Mr. Weigelt was
the Director of Environmental Agency for the city of Dortmund, Germany. From
1992 to 1994 Mr. Weigelt served as the managing directgor of Environmental
Resources Management GmbH. From 1989 to 1992 Mr. Weigelt worked as the Director
for Environmental Risk-Analysis and Business Coordination for Gerling AG (a
large German insurance company). From 1987 to 1989 Mr. Weigelt worked as the
Director for Drug-Development-Coordination of Schering AG (a German
pharmaceutical company). Between 1972 to 1985, Mr. Weigelt worked for
Max-Planck-Institute for Systems-Physiology. Mr. Weigelt was also a co-founder
of the first German private university, Witten/Herdecke. Mr. Weigelt studied
chemistry and biology and graduated with a M.Sc., Ph.D., and D.Sc. in biology.

Certain Relationships and Related Transactions
- --------------------------------------------------

The Company has agreed to pay Prof. Wiedow, a director of the Company,
three percent (3%) of the gross revenues of Company from products based on
patents where he was the principal inventor. Furthermore, the Company has
agreed to pay licensing fees in the amount of $100,000 per year and a refund for
all expenses needed to maintain the patents (e.g., patent fees, lawyers fees,
etc).

AstraZeneca, Inc. (formerly Zeneca, Inc., formerly ICI Pharmaceuticals,
Inc.) has held the patents for Elafin (Proteo's primary product) for several
years and has significantly contributed to the current knowledge. Therefore, the
Company has agreed to pay AstraZeneca Inc. 2% of the gross revenues of Proteo
and the Subsidiary from products based on patents in which Prof. Wiedow was the
principal inventor.

The officers and directors of the Company may be engaged in other
businesses, either individually or through partnerships and corporations in
which they have ownership interests, hold offices or serve on Boards of
Directors.

The Company will attempt to resolve any such conflicts of interest in favor
of the Company. The officers and directors of the Company are accountable to the
Company and the Company's shareholders as fiduciaries.

Compliance with Section 16(a) of the Securities Exchange Act of 1934
- ------------------------------------------------------------------------------

Section 16(a) of the Securities Exchange Act of 1934 requires the Company's
directors and executive officers and persons who own more than ten percent of a
registered class of the Company's equity securities to file with the SEC initial
reports of ownership and reports of changes in ownership of Common Stock and
other equity securities of the Company. Officers, directors and greater than
ten percent shareholders are required by SEC regulations to furnish the Company
with copies of all Section 16(a) forms they file.

To the Company's knowledge, there are no delinquencies in filing such
forms.

Board Meetings and Committees
- --------------------------------

During the fiscal year ended December 31, 2001, the Board of Directors did
not meet, but unanimously consented to the transactions contemplated by the
Shell Acquisition Agreement.

There are presently no committees of the Board of Directors.

COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS

Executive Officers and Directors
- -----------------------------------

To date, there has been no consideration paid to the newly elected officers
and directors of the Company.

A director who is an employee does not receive any cash compensation as a
director. There is no plan in place for compensation of persons who are
directors who are not employees of the Company.

Summary Compensation Table
- ----------------------------

The Summary Compensation Table shows certain compensation information for
services rendered in all capacities for the fiscal years ended December 31, 1998
and 1999. Other than as set forth herein, no executive officer's salary and
bonus exceeded $100,000 in any of the applicable years. The following
information includes the dollar value of base salaries, bonus awards, the number
of stock options granted and certain other compensation, if any, whether paid or
deferred.

SUMMARY COMPENSATION TABLE

ANNUAL COMPENSATION LONG TERM COMPENSATION
---------------------- AWARDS PAYOUTS
-------------------------------
OTHER RESTRICTED SECURITIES ALL
NAME AND ANNUAL STOCK UNDERLYING LTIP OTHER
PRINCIPAL SALARY BONUS COMPENSATION AWARDS OPTIONS PAYOUTS COMPESATION
POSITION YEAR ($) ($) ($) ($) SARS (#) ($) ($)
- ---------------------------------------------------------------------------------------------------------------------------

Earl T. Shannon 2000 $ 60,000 -0- -0- -0- 500,000 -0- -0-
(President,
Secretary,
Treasurer, Director) 1999 $ 60,000 -0- -0- -0- 500,000 -0- -0-

Robert W. Tupper 2000 -0- -0- -0- -0- 500,000 -0- -0-
(Director)
1999 -0- -0- -0- -0- -0- -0- -0-

Matthew Gilbert 2000 -0- -0- -0- -0- 500,000 -0- -0-
(Director)
1999 -0- -0- -0- -0- -0- -0- -0-

(1) All of these parties are no longer affiliated with the Company.

OPTION/SAR GRANTS IN LAST FISCAL YEAR
(INDIVIDUAL GRANTS)

NUMBER OF SECURITIES PERCENT OF TOTAL
UNDERLYING OPTIONS/SAR'S GRANTED
OPTIONS/SAR'S GRANTED TO EMPLOYEES IN FISCAL EXERCISE OF BASE PRICE
NAME (#) YEAR ($/SH) EXPIRATION DATE
---------------------- ----------------------- ------------------------ ---------------

Earl T. Shannon 500,000 33.3% $0.15 10/27/05

Ronald W. Tupper 500,000 33.3% $0.15 10/27/05

Matthew Gilbert 500,000 33.3% $0.15 10/27/05

(1) These options have all been terminated.

AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR
AND FY-END OPTION/SAR VALUES

NUMBER OF UNEXERCISED VALUE OF UNEXERCISED IN
SECURITIES UNDERLYING THE-MONEY OPTION/SARS
SHARES ACQUIRED ON VALUE OPTIONS/SARS AT FY-END (#) AT FY-END ($)
NAME EXERCISE (#) REALIZED ($) EXERCISABLE/UNEXERCISABLE EXERCISABLE/UNEXERCISABLE
---------------------- ------------------------ -------------------------- --------------------------

Earl T. Shannon -0- -0- -0- -0-

Ronald W. Tupper -0- -0- -0- -0-

Matthew Gilbert -0- -0- -0- -0-

Compensation of Directors
- ---------------------------

The Directors have not received any compensation for serving in such
capacity, and the Company does not currently contemplate compensating its
Directors in the future for serving in such capacity.

By order of the Board of Directors

/s/ Joerg Alte
Joerg Alte
President