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

 

Date of Report: October 24, 2007

(Date of earliest event reported)

 

LE@P TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

0-5667

 

65-0769296

 

 

 

 

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

 

 

 

 

 

 

 

 

 

 

5601 N. Dixie Highway, Suite 411

 

 

 

 

Ft. Lauderdale, FL

 

33334

 

 

 

 

 

(Address of principal executive offices

 

(Zip Code)

 

Registrant’s telephone number, including area code:

 

(954) 771-1772

 

 

 

 

 

 

 

 

NOT APPLICABLE

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o

Pre-commencement communications pursuant to Rule 13e-4( c) under the Exchange Act (17 CFT 240.13e-4( c))

 

 

 

 

Items 1.01 Entry into a Material Definitive Agreement

 

On October 24, 2007, Bay Colony Associates, Ltd., an entity wholly owned by Dr. Pearce and the holder of a promissory note dated March 17, 2006 in the original principal amount of $562,500 made by Parkson Property, LLC, the Company’s subsidiary, agreed to extend the maturity date of the note from January 8, 2008 until January 8, 2010. The principal and all accrued interest, at the rate of 7% per annum, under the note are due in one lump sum on the extended maturity date, and all of the other terms of the note remain unmodified. A copy of the renewal promissory note is filed herewith as Exhibit 10.1. The extension of the maturity date of the note permits the Company to use funds that would otherwise have been used to repay the note for acquisition, working capital, or other purposes.

Item 9.01 Financial Statements and Exhibits

 

(d)

Exhibits

 

10.1

Renewal Promissory Note dated October 24, 2007 in the principal amount of $562,500 executed by Parkson Property, LLC in favor of Bay Colony Associates, Ltd.

 

 

 

 

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.

 

 

 

 

 

 

 

 

 

Date: October 24, 2007

 

By: /s/ Donald Ciappenelli

 

 

Name:    Donald Ciappenelli

 

 

Title:      Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

EXHIBIT LIST

 

 

 

 

 

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