<SUBMISSION>
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<CONFORMED-NAME>5B TECHNOLOGIES CORP
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<FISCAL-YEAR-END>1231
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<FILM-NUMBER>2505100
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<STREET1>100 SUNNYSIDE BLVD
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<STATE>NY
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<PHONE>5166776100
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<FORMER-CONFORMED-NAME>PARAMOUNT FINANCIAL CORP
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<Page>


                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 8-K/A

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


       Date of Report (Date of earliest event reported): December 31, 2001
--------------------------------------------------------------------------------

                           5B Technologies Corporation
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

                       DELAWARE                                0-27190
                       --------                                -------
             (State or Other Jurisdiction                    (Commission
                   of Incorporation)                        File Number)


                   100 Sunnyside Boulevard, Woodbury, NY 11797
--------------------------------------------------------------------------------
                    (Address of Principal Executive Offices)

                  Registrant's telephone number, (516) 677-6100


                                 Not Applicable
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)




<Page>




                    INFORMATION TO BE INCLUDED IN THE REPORT


ITEM 5.  OTHER EVENTS.
--------------------------------------------------------------------------------

         On December 31, 2001, 5B Technologies Corporation and La Vista
Investors LLC settled all claims relating to an action commenced by La Vista
against the company.

         The foregoing summary is subject to the full text of the press release
with respect thereto, a copy of which is attached hereto as Exhibit 99.1, which
exhibit is incorporated herein by reference.


ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
--------------------------------------------------------------------------------

(c)      Exhibit included herein:

         99.1     Press Release, dated January 9, 2002.





                                   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.

                                     5B TECHNOLOGIES CORPORATION



Date:  January 9, 2002               By:  /s/ Glenn Nortman
       ---------------                    -----------------
                                          Glenn Nortman, Chief Executive Officer



                                       2

</TEXT>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a2067549zex-99_1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

<Page>

                                                                    EXHIBIT 99.1


Contact:
Glenn Nortman
Chief Executive Officer
5B Technologies Corporation
Phone:  (516) 677-6100

                5B TECHNOLOGIES CORPORATION ANNOUNCES SETTLEMENT

                               OF LA VISTA LAWSUIT



WOODBURY, NY, JANUARY 9, 2002- 5B Technologies Corporation (NASDAQ:FIVEC)
announced today the settlement of the lawsuit between the Company and La Vista
Investors LLC.

The lawsuit had been instituted by La Vista in January 2001 in connection with
$1,000,000 of the Company's Series B Preferred Stock previously purchased by La
Vista. The terms of the settlement include payment to La Vista of $360,000 in
cash (of which $200,000 was provided by 5B's insurance carrier), a 10%
promissory note for $360,000 with principal payments in January 2003 and July
2003, and a Warrant (having an aggregate value of $150,000) to purchase 300,000
shares of 5B common stock at an exercise price of $.00001 per share.
Additionally, as part of the settlement, La Vista converted $140,000 of the
Series B Preferred Stock held by La Vista to 280,000 shares of 5B's common stock
at a conversion value of $.50 per share of common stock. The balance of the
Series B Preferred Stock held by La Vista, together with a warrant originally
issued in connection with the Preferred Stock, was returned to the Company as
part of the settlement. The Management of 5B expects the settlement to have a
favorable impact on fourth quarter 2001 results and shareholders equity for the
year ended December 31, 2001.

Glenn Nortman, Chief Executive Officer of 5B Technologies Corporation, stated,
"We are pleased to be able to amicably settle our issues with La Vista. Their
investment in 5B was critical to helping the Company through the difficult
business environment of the past year. I believe that the settlement of this
lawsuit will benefit the Company and its shareholders by increasing our
shareholder's equity and by having a positive impact on our fourth quarter
results".


<Page>



ABOUT 5B TECHNOLOGIES CORPORATION 5B Technologies Corporation is a comprehensive
business solutions provider, offering customers a wide range of integrated
services, including customized design and development of Internet infrastructure
and commerce solutions, information technology consulting, local area network
and web site security, and systems integration.

DISCLAIMER:
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS AS DEFINED IN THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995. READERS ARE CAUTIONED NOT TO PLACE
UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS. ACTUAL RESULTS MAY DIFFER
MATERIALLY FROM THOSE INDICATED BY THESE FORWARD-LOOKING STATEMENTS AS A RESULT
OF RISKS AND UNCERTAINTIES IMPACTING THE COMPANY'S BUSINESS INCLUDING INCREASED
COMPETITION; THE ABILITY OF THE COMPANY TO EXPAND ITS OPERATIONS THROUGH EITHER
ACQUISITIONS OR INTERNAL GROWTH, TO ATTRACT AND RETAIN QUALIFIED PROFESSIONALS,
AND TO EXPAND COMMERCIAL AND INVESTMENT BANKING RELATIONSHIPS AS BOTH A SOURCE
OF FUNDING AND STOCK SUPPORT; THE AVAILABILITY OF COMPUTER EQUIPMENT;
TECHNOLOGICAL OBSOLESCENCE; GENERAL ECONOMIC CONDITIONS; AND OTHER RISKS
DETAILED TIME TO TIME IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION (SEC).

                                       ###

</TEXT>
</DOCUMENT>
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