Chandler, Ariz., October 5, 2012-- Leaplab Corporation (Pink Sheets: LLAB) announced today that it has settled claims made by John Ayers in connection with the Company's acquisition of Direct ROI, LLC and Flying Change, Inc.
Under the terms of the Settlement Agreement, which was approved by the Company's Board of Directors and shareholders, the Company transferred to Mr. Ayers 100% of the equity interest in each of Direct ROI, LLC and Flying Change, Inc., and Mr. Ayers returned to the Company all of the Company common stock issued to him in connection with the Company's acquisition of Direct ROI, LLC and Flying Change, Inc. The Company also agreed to change its corporate name and to relinquish all its rights to the Leaplab corporate name to Mr. Ayers. The Company and Mr. Ayers exchanged mutual general releases. Neither the Company nor Mr. Ayers admitted any wrongdoing in connection with the acquisition transaction.

Mr. Ayers has resigned as an officer and director of the Company, Heather Holloway has resigned as Secretary and Jeff Johnson has resigned as director.