content: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549
  
                                ---------------------
                                      FORM 8-K
                                ---------------------
  
                                   CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(D) OF THE
                           SECURITIES EXCHANGE ACT OF 1934
  
  
  
       September 28, 2001                                      000-05667
  ---------------------------                            -------------------------
  Date of Report (Date of                                Commission File Number
  earliest event reported)
  
  
                                LE@P TECHNOLOGY, INC.
                                ---------------------
               (Exact name of registrant as specified in its charter)
  
  
          Delaware                                             64-0769296
  ---------------------------                            -------------------------
  (State or other jurisdiction                           (I.R.S. Employer
  of incorporation or organization)                      Identification Number
  
  
                          5601 N. Doxie Highway, Suite 411
                           For Lauderdale, Florida 33334
              ---------------------------------------------------------
                (Address of Principal Executivde Offices)(Zip Code)
  
  
                                   (954) 771-1772
              ---------------------------------------------------------
                (Registrant's telephone number, including area code)
  
  
  <PAGE>
  
       In  the  discussions  below,  any  statement  of  the  Registrant's  future
  expectations,  including  without  limitation,  plans and  objectives for future
  operations,   future  agreements,   future  economic   performance  or  expected
  operational  developments  and all other  statements  regarding  the  future are
  "forward-looking" statements within the meaning of Section 27A of the Securities
  Act of 1933, as amended,  Section 21E of the Securities Exchange Act of 1934, as
  amended, and as that term is defined in the Private Securities Litigation Reform
  Act of 1995.  The  Registrant  intends that the  forward-looking  statements  be
  subject to the safe harbors created thereby.  These  forward-looking  statements
  are  based  on  the   Registrant's   strategic   plans  and  involve  risks  and
  uncertainties  which may cause  actual  results  to differ  materially  from the
  forward-looking  statements.  The Company does not undertake any  obligations to
  release  publicly any  revisions to such  forward-looking  statements to reflect
  events or  circumstances  after the date hereof or to reflect the  occurrence of
  unanticipated events.
  
  Item 2.  Acquisition or Disposition of Assets.
  
       Effective  September 28, 2001, Le@p  Technology,  Inc. (the  "Registrant"),
  through a wholly-owned limited liability company, acquired certain real property
  located in  Broward  County,  Florida  (the  "Real  Property"),  from Bay Colony
  Associates  Limited  ("Seller").  The Seller is an  affiliate  of M. Lee Pearce,
  M.D., the Chairman of the Board and the majority stockholder of the Company. The
  purchase price for the Real Property was $750,000, subject to adjustment pending
  the outcome of an independent third party appraisal of the Real Property.  Based
  upon such  appraisal,  the final  purchase  price for the Real  Property will be
  between  $600,000  and  $750,000.  The  independent  appraisal is expected to be
  completed in the next thirty days. The Registrant  paid for the Real Property by
  delivery of a short-term  promissory  note in the amount of $37,500 due November
  28, 2001 and a  longer-term  note and  mortgage in the amount of $712,500 due in
  one lump sum on September 28, 2006. The  longer-term  note bears interest at the
  rate of 7% per annum which may be accrued,  at the  Registrant's  option,  until
  September 28, 2004.
  
       The Real Property is zoned light  industrial and consists of  approximately
  one and  one-third  acres and four  structures  which  collectively  consist  of
  approximately 9,000 square feet. The structures are presently  unoccupied and in
  need of repair. The Registrant intends to repair and offer for lease one or more
  of the structures.
  
       The  primary  motivation  for  the  Registrant's  acquisition  of the  Real
  Property  was to  increase  the  amount of its  assets  which do not  constitute
  investments  in  securities  and thereby  enable the  Registrant  to continue to
  qualify for an exclusion  from  investment  company  status under the Investment
  Company Act of 1940 (the "'40 Act").  The  exclusion on which the  Registrant is
  currently  relying  provides  that  no  more  than  45%  of  the  value  of  the
  Registrant's total assets may consist of, and no more than 45% of its net income
  after taxes may be derived from,  investments in securities (other than those of
  wholly-owned and  majority-owned  subsidiaries and certain companies  controlled
  primarily by the Registrant).
  
       Since registration and regulation as an investment company are inconsistent
  with the Registrant's business objectives,  failure to qualify for the exclusion
  would  have a  materially  adverse  effect  on the  Registrant.  The  Registrant
  
                                         2
  
  <PAGE>
  
  
  measures its  relative  asset  holdings as of the end of each fiscal  quarter to
  determine that it is not subject to  registration  and regulation  under the '40
  Act and is currently in the process of making such  determination as it prepares
  its Quarterly  Report on Form 10-QSB for the fiscal quarter ended  September 30,
  2001.
  
  Item 7.  Financial Statements and Exhibits.
  
  (a)(b) In  accordance  with  Instruction  4 of this Item 7, pro forma  financial
  information  required by this Item will be filed by an amendment to this initial
  report on Form 8-K not later than 60 days after the date hereof.
  
  (c)      Exhibits
           --------
  
  10.1 Commercial  Contract and Addendum relating to the purchase and sale of real
       property between Bay Colony Associates  Limited and Le@p Technology,  Inc.,
       as agent for Parkson Property LLC, dated as of September 28, 2001.
  
  10.2 Promissory  Note dated  September  28,  2001,  in the  principal  amount of
       $37,500 executed by Parkson Property LLC.
  
  10.3 Promissory  Note dated  September  28,  2001,  in the  principal  amount of
       $712,500 executed by Parkson Property LLC.
  
  10.4 Mortgage Deed dated September 28, 2001, by Parkson Property LLC in favor of
       Bay Colony Associates, Ltd.
  
                                         3
  
  <PAGE>
  
                                     SIGNATURES
  
  Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
  registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
                                     LE@P TECHNOLOGY, INC.
  
  
  
                                     By:/s/ Robert Tancredi, M.D.
                                        ======================================
                                        Robert Tancredi, M.D.
                                        President
  
  Dated: October 18, 2001
  
                                         4
  
  <PAGE>
  
  
                                   EXHIBIT INDEX
  
  
  EXHIBIT
  NO.                           DOCUMENT DESCRIPTION
  
  10.1      Commercial  Contract and Addendum relating to the purchase and sale of
            real  property  between  Bay  Colony   Associates   Limited  and  Le@P
            Technology,  Inc.,  as agent for  Parkson  Property  LLC,  dated as of
            September 28, 2001.
  
  10.2      Promissory Note dated  September 28, 2001, in the principal  amount of
            $37,500 executed by Parkson Property LLC.
  
  10.3      Promissory Note dated  September 28, 2001, in the principal  amount of
            $712,500 executed by Parkson Property LLC.
  
  10.4      Mortgage Deed dated  September  28, 2001,  by Parkson  Property LLC in
            favor of Bay Colony Associates, Ltd.
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "e315976.txt", "secsgml_size_bytes": 8095}]
metadata_filer: {"company-data": {"conformed-name": "LEAP TECHNOLOGY INC / DE", "cik": "0000110027", "assigned-sic": "8000", "irs-number": "640769296", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-05667", "film-number": "1761782"}, "business-address": {"street1": "5601 NORTH DIXIE HIGHWAY, SUITE 411", "street2": "SUITE 314", "city": "FORT LAUDERDALE", "state": "FL", "zip": "33334", "phone": "9547715402"}, "mail-address": {"street1": "5601 NORTH DIXIE HIGHWAY, SUITE 411", "street2": "SUITE 314", "city": "FORT LAUDERDALE", "state": "FL", "zip": "33334"}, "former-company": [{"former-conformed-name": "FORMERLY FIRST NATIONAL CORP/NV/", "date-changed": "19600201"}, {"former-conformed-name": "SEAL FLEET INC", "date-changed": "19920703"}]}
text: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549
  
                                ---------------------
                                      FORM 8-K
                                ---------------------
  
                                   CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(D) OF THE
                           SECURITIES EXCHANGE ACT OF 1934
  
       September 28, 2001                                      000-05667
  ---------------------------                            -------------------------
  Date of Report (Date of                                Commission File Number
  earliest event reported)
  
                                LE@P TECHNOLOGY, INC.
                                ---------------------
               (Exact name of registrant as specified in its charter)
  
          Delaware                                             64-0769296
  ---------------------------                            -------------------------
  (State or other jurisdiction                           (I.R.S. Employer
  of incorporation or organization)                      Identification Number
  
                          5601 N. Doxie Highway, Suite 411
                           For Lauderdale, Florida 33334
              ---------------------------------------------------------
                (Address of Principal Executivde Offices)(Zip Code)
  
                                   (954) 771-1772
              ---------------------------------------------------------
                (Registrant's telephone number, including area code)
  In  the  discussions  below,  any  statement  of  the  Registrant's  future
  expectations,  including  without  limitation,  plans and  objectives for future
  operations,   future  agreements,   future  economic   performance  or  expected
  operational  developments  and all other  statements  regarding  the  future are
  "forward-looking" statements within the meaning of Section 27A of the Securities
  Act of 1933, as amended,  Section 21E of the Securities Exchange Act of 1934, as
  amended, and as that term is defined in the Private Securities Litigation Reform
  Act of 1995.  The  Registrant  intends that the  forward-looking  statements  be
  subject to the safe harbors created thereby.  These  forward-looking  statements
  are  based  on  the   Registrant's   strategic   plans  and  involve  risks  and
  uncertainties  which may cause  actual  results  to differ  materially  from the
  forward-looking  statements.  The Company does not undertake any  obligations to
  release  publicly any  revisions to such  forward-looking  statements to reflect
  events or  circumstances  after the date hereof or to reflect the  occurrence of
  unanticipated events.
  
  Item 2.  Acquisition or Disposition of Assets.
  
       Effective  September 28, 2001, Le@p  Technology,  Inc. (the  "Registrant"),
  through a wholly-owned limited liability company, acquired certain real property
  located in  Broward  County,  Florida  (the  "Real  Property"),  from Bay Colony
  Associates  Limited  ("Seller").  The Seller is an  affiliate  of M. Lee Pearce,
  M.D., the Chairman of the Board and the majority stockholder of the Company. The
  purchase price for the Real Property was $750,000, subject to adjustment pending
  the outcome of an independent third party appraisal of the Real Property.  Based
  upon such  appraisal,  the final  purchase  price for the Real  Property will be
  between  $600,000  and  $750,000.  The  independent  appraisal is expected to be
  completed in the next thirty days. The Registrant  paid for the Real Property by
  delivery of a short-term  promissory  note in the amount of $37,500 due November
  28, 2001 and a  longer-term  note and  mortgage in the amount of $712,500 due in
  one lump sum on September 28, 2006. The  longer-term  note bears interest at the
  rate of 7% per annum which may be accrued,  at the  Registrant's  option,  until
  September 28, 2004.
  
       The Real Property is zoned light  industrial and consists of  approximately
  one and  one-third  acres and four  structures  which  collectively  consist  of
  approximately 9,000 square feet. The structures are presently  unoccupied and in
  need of repair. The Registrant intends to repair and offer for lease one or more
  of the structures.
  
       The  primary  motivation  for  the  Registrant's  acquisition  of the  Real
  Property  was to  increase  the  amount of its  assets  which do not  constitute
  investments  in  securities  and thereby  enable the  Registrant  to continue to
  qualify for an exclusion  from  investment  company  status under the Investment
  Company Act of 1940 (the "'40 Act").  The  exclusion on which the  Registrant is
  currently  relying  provides  that  no  more  than  45%  of  the  value  of  the
  Registrant's total assets may consist of, and no more than 45% of its net income
  after taxes may be derived from,  investments in securities (other than those of
  wholly-owned and  majority-owned  subsidiaries and certain companies  controlled
  primarily by the Registrant).
  
       Since registration and regulation as an investment company are inconsistent
  with the Registrant's business objectives,  failure to qualify for the exclusion
  would  have a  materially  adverse  effect  on the  Registrant.  The  Registrant
  
                                         2
  measures its  relative  asset  holdings as of the end of each fiscal  quarter to
  determine that it is not subject to  registration  and regulation  under the '40
  Act and is currently in the process of making such  determination as it prepares
  its Quarterly  Report on Form 10-QSB for the fiscal quarter ended  September 30,
  2001.
  
  Item 7.  Financial Statements and Exhibits.
  
  (a)(b) In  accordance  with  Instruction  4 of this Item 7, pro forma  financial
  information  required by this Item will be filed by an amendment to this initial
  report on Form 8-K not later than 60 days after the date hereof.
  
  (c)      Exhibits
           --------
  
  10.1 Commercial  Contract and Addendum relating to the purchase and sale of real
       property between Bay Colony Associates  Limited and Le@p Technology,  Inc.,
       as agent for Parkson Property LLC, dated as of September 28, 2001.
  
  10.2 Promissory  Note dated  September  28,  2001,  in the  principal  amount of
       $37,500 executed by Parkson Property LLC.
  
  10.3 Promissory  Note dated  September  28,  2001,  in the  principal  amount of
       $712,500 executed by Parkson Property LLC.
  
  10.4 Mortgage Deed dated September 28, 2001, by Parkson Property LLC in favor of
       Bay Colony Associates, Ltd.
  
                                         3
  SIGNATURES
  
  Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
  registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
                                     LE@P TECHNOLOGY, INC.
  
                                     By:/s/ Robert Tancredi, M.D.
                                        ======================================
                                        Robert Tancredi, M.D.
                                        President
  
  Dated: October 18, 2001
  
                                         4
  EXHIBIT INDEX
  
  EXHIBIT
  NO.                           DOCUMENT DESCRIPTION
  
  10.1      Commercial  Contract and Addendum relating to the purchase and sale of
            real  property  between  Bay  Colony   Associates   Limited  and  Le@P
            Technology,  Inc.,  as agent for  Parkson  Property  LLC,  dated as of
            September 28, 2001.
  
  10.2      Promissory Note dated  September 28, 2001, in the principal  amount of
            $37,500 executed by Parkson Property LLC.
  
  10.3      Promissory Note dated  September 28, 2001, in the principal  amount of
            $712,500 executed by Parkson Property LLC.
  
  10.4      Mortgage Deed dated  September  28, 2001,  by Parkson  Property LLC in
            favor of Bay Colony Associates, Ltd.