PELICAN PROPERTIES INTERNATIONAL CORP
                               TICKER SYMBOL: PELP

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

      [ X  ]   Quarterly Report Under Section 13 or 15(d) of the
               Securities Exchange Act of 1934

               For the quarterly period ended March 31, 2001

      [    ]   Transition Report Under Section 13 or 15(d) of
               the Exchange Act

               For the transition period from _____ to _____.

                         Commission file number 0-23075

                     PELICAN PROPERTIES INTERNATIONAL CORP.
                     ---------------------------------------
        (Exact Name of Small Business Issuer as Specified in Its Charter)

             Florida                                     65-0616879
   ----------------------------                 -----------------------------
   (State or Other Jurisdiction                (IRS Incorporation or Employer
        of Organization)                            Identification Number)

                                 2 Fenwick Road
                                    Suite 100
                           Fort Monroe, Virginia 23651
                      -------------------------------------
                     (Address of Principal Executive Office)

                                 (757) 224-5234
                 ----------------------------------------------
                (Issuer's Telephone Number, Including Area Code)

Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                           Yes   [ X ]   No [  ]

                     APPLICABLE ONLY TO ISSUERS INVOLVED IN
                        BANKRUPTCY PROCEEDINGS DURING THE
                              PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13, or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court.

                           Yes   [ X ]   No [  ]


                      APPLICABLE ONLY TO CORPORATE ISSUERS

The number of shares outstanding of the issuer's common stock, par value $.001
per share as of April 30, 2001 was 5,975,851.

Transitional Small Business Disclosure Format: Yes [  ]  No [ X ]


<PAGE>


                     PELICAN PROPERTIES INTERNATIONAL CORP.
                                and SUBSIDIARIES

                                Table of Contents

PART I.  FINANCIAL INFORMATION
------------------------------

ITEM. 1  Financial Statements

         Condensed Consolidated Balance Sheets                      Page 3
         March 31, 2001 and December 31, 2000

         Condensed Consolidated Statements of Operations--          Page 4
         Three Months Ended March 31, 2001 and March 31, 2000

         Condensed Consolidated Statements of Cash Flows            Page 5
         Three Months Ended March 31, 2001 and March 31, 2000

         Notes to Condensed Consolidated Financial Statements       Pages 6 - 7

ITEM 2 - Management Discussion and Analysis of Financial

                  Condition and Results of Operations               Pages 7 - 8


PART II - OTHER INFORMATION
---------------------------

ITEM 1 - Legal Proceedings                                          Pages 9 - 10

ITEM 2 - Changes in Securities                                      Page 10

ITEM 3 - Defaults upon Senior Securities                            Page 10

ITEM 4  - Submission of Matter to Vote of Security Holders          Page 10

ITEM 5 - Other Information                                          Page 10

ITEM 6 - Exhibits and Reports on Form 8-K                           Page 11


<PAGE>


                  PELICAN PROPERTIES INTERNATIONAL CORP.
                             AND SUBSIDIARIES

                     CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                                    March 31       December 31
                                                                                      2001            2000
                                                                                  ------------    ------------
                                                                                   Unaudited
<S>                                                                               <C>             <C>
                                  ASSETS
CURRENT ASSETS
Cash                                                                              $     84,687    $    268,361
Accounts receivable, net of allowance for doubtful accounts                             75,137         185,227
Supplies                                                                                94,981         111,638
Prepaid expenses                                                                        25,588          23,825
Other current assets                                                                   123,031         108,348
                                                                                  ------------    ------------
                                                       TOTAL CURRENT ASSETS            403,424         697,399

PROPERTY AND EQUIPMENT, net of accumulated depreciation
of $2,017,794 and $1,796,895 respectively                                           16,133,889      16,316,385

OTHER ASSETS
DEFERRED LOAN COSTS, NET OF ACCUMULATED                                                149,464         186,451
AMORTIZATION OF $62,774 and $33,787
DEFERRED FRANCHISE COSTS, NET OF ACCUMULATED                                            17,304          17,622
AMORTIZATION OF $1,696 AND $1,378
DEPOSITS AND OTHER                                                                      60,839         173,094
                                                                                  ------------    ------------
                                                                                       227,607         377,167
                                                                                  ------------    ------------
                                                                                  $ 16,764,920    $ 17,390,951
                                                                                  ============    ============

                   LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Current maturities of long-term debt                                              $  1,916,516    $  1,916,515
Accounts payable and accrued liabilities                                             1,645,563       1,557,273
Obligation for renovations                                                             646,495         646,495
Other current liabilities                                                                   --          49,196
                                                                                  ------------    ------------
                                                  TOTAL CURRENT LIABILITIES          4,208,574       4,169,479



LONG-TERM DEBT, less current maturities                                              7,378,813       7,397,801

DEFERRED INCOME TAXES                                                                2,702,000       2,911,000
COMMITMENTS AND CONTINGENCIES                                                               --              --

STOCKHOLDER'S EQUITY
Preferred Stock, 1,000,000 shares authorized; none issued or outstanding
Common Stock, par value $.001; 100,000,000 shares authorized;
  5,975,851 shares issued and outstanding                                                5,975           5,975
Additional paid-in capital                                                           3,393,216       3,393,216
Accumulated deficit                                                                   (923,658)       (486,520)
                                                                                  ------------    ------------
                                                 TOTAL STOCKHOLDERS' EQUITY          2,475,533       2,912,671
                                                                                                  ------------

                                 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY       $ 16,764,920    $ 17,390,951
                                                                                  ============    ============
</TABLE>

      See accompanying notes to condensed consolidated financial statements

                                       3
<PAGE>

                     PELICAN PROPERTIES INTERNATIONAL CORP.
                                AND SUBSIDIARIES

                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                      Three Months Ended     Three Months Ended
                                                           March 31              March 31
                                                             2001                 2000
                                                          -----------          -----------
                                                           Unaudited            Unaudited
<S>                                                       <C>                  <C>
REVENUES

Rooms                                                     $   929,441          $   997,200
Food and beverage                                             225,426              230,956
Rental income                                                  93,789              113,336
Other                                                          59,138               87,973
                                                          -----------          -----------

                                   TOTAL REVENUES           1,307,794            1,429,465
                                                          -----------          -----------


OPERATING COSTS & EXPENSES
Rooms                                                         271,094              309,168
Food and beverage                                             200,347              271,922
Other operating expenses                                      231,692              263,290
Corporate expenses                                            259,250              300,819
Sales and marketing expenses                                  116,495              139,809
Reservations expense                                              458                1,778
Advertising expense                                             1,511                   --
Franchise expense                                              28,978               25,507
Engineering expense                                           116,993              131,851
Utilities expense                                             147,963              125,028
                                                          -----------          -----------
        TOTAL OPERATING COSTS & EXPENSES                    1,374,781            1,569,172

LOSS FROM OPERATIONS BEFORE TAXES, INSURANCE,                 (68,987)            (139,707)
INTEREST, DEPRECIATION, AND AMORTIZATION

Taxes and Insurance                                           102,227              102,437
Interest expense                                              219,597              202,268
Depreciation and amortization                                 257,327              221,159
                                                          -----------          -----------

LOSS BEFORE INCOME TAX BENEFIT                               (646,138)            (665,571)
                                                          -----------          -----------

INCOME TAX BENEFIT                                            209,000              223,000
                                                          -----------          -----------

                                         NET LOSS         $  (437,138)         $  (442,571)
                                                          ===========          ===========


BASIC AND DILUTED COST
                                                          -----------          -----------
PER COMMON SHARE                                                (0.07)               (0.07)
                                                          ===========          ===========
</TABLE>
      See accompanying notes to condensed consolidated financial statements

                                       4

<PAGE>



                          PELICAN PROPERTIES INTERNATIONAL CORP.
                                     AND SUBSIDIARIES

                     CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                            Three Months Ended   Three Months Ended
                                                                                                 March 31             March 31
                                                                                                   2001                 2000
                                                                                                   ----                 ----
                                                                                                Unaudited            Unaudited
<S>                                                                                                <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss                                                                                           $(437,138)         $(442,571)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Depreciation and amortization                                                                        257,327            221,159

Changes in:
    Investments
Accounts receivable, net                                                                             110,090             43,935
Supplies                                                                                              16,657             26,019
Prepaid expenses                                                                                      (1,763)             2,798
Tax refund receivable                                                                                     --            228,000
Other current assets                                                                                 (14,683)                --
                                                                                                                      ---------
Other assets                                                                                         113,132            (15,767)
Accounts payable and accrued liabilities                                                              88,290             35,066
Other current liabilities                                                                            (37,196)           149,060
Deferred income taxes                                                                               (209,000)           (73,000)
Income taxes payable                                                                                 (12,000)          (150,000)
Other liabilities                                                                                         --              8,063
                                                                                                   ---------          ---------

                                       NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES          (126,284)            32,762

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment                                                                (38,403)           (55,483)

CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of borrowings                                                                              (18,987)              (409)
                                                                                                   ---------          ---------

                                                                      NET DECREASE IN CASH          (183,674)           (23,130)

CASH AT BEGINNING OF PERIOD                                                                          268,361             69,037
                                                                                                   ---------          ---------


CASH AT END OF PERIOD                                                                              $  84,687          $  45,907
                                                                                                   =========          =========
</TABLE>
      See accompanying notes to condensed consolidated financial statements

                                       5

<PAGE>


             PELICAN PROPERTIES INTERNATIONAL CORP. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                        THREE MONTHS ENDED MARCH 31, 2001
                                   (UNAUDITED)

NOTE 1 - BASIS OF PRESENTATION
------------------------------

         The accompanying condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-QSB and Article 10 of
Regulation S-X. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements. The quarterly financial information included herein is
unaudited. However, in the opinion of management, all adjustments, considered
necessary for a fair presentation have been included. Operating results for the
three months ended March 31, 2001, are not necessarily indicative of the results
that may be expected for the year ending December 31, 2001. A description of the
Company's accounting policies and other financial information is included in its
audited consolidated financial statements for the year ended December 31, 2000.
The accompanying condensed consolidated financial statements should be read in
conjuction with the 2000 financial statements which can be found in the
Company's annual report on form 10-KSB for 2000.

         The March 31, 2001 condensed consolidated financial statements include
the accounts of Pelican Properties International Corp. and its wholly owned
subsidiaries Ohio Key I, Inc., Ohio Key II, Inc., Old Point Comfort Hotel, LLC.,
Palmer Inn, Princeton, LLC., McLure House Hotel & Conference Center, LLC,
Purchasing Concepts, Inc., and Vintage Hotels Corporation (the "Company"). All
significant inter-company transactions have been eliminated in consolidation.

NOTE 2 - LOSS PER SHARE
-----------------------

         Basic and diluted loss per share amounts are equal because the Company
has a net loss and consideration of the redeemable preferred stock, options,
warrants and their equivalents would result in anti-dilutive effects to earnings
per share.

NOTE 3 - LONG TERM DEBT
-----------------------

Current maturities of the Long - Term debt include the following obligations:
Palmer Inn, Princeton, LLC $55,680 McLure House Hotel & Conference Center, LLC
(dba Ramada Plaza City Center Hotel) $34,408 Old Point Comfort Hotel, LLC
$1,675,000 Former Owner of Chamberlin Hotel $151,427

NOTE 4 - SUBSEQUENT EVENT
-------------------------

         The Ramada Plaza City Center Hotel has secured a commitment of $109,000
from a financial institution to finance the renovations required by the
restaurant lessee. Construction is expected to begin in May 2001.

                                       6
<PAGE>


NOTE 5 - CONTINUING OPERATIONS
------------------------------

         The accompanying condensed consolidated financial statements have been
prepared assuming the Company will continue as a going concern. As shown in the
accompanying condensed consolidated financial statements, the Company reported a
net loss of $(437,138) for the three months ended March 31, 2001, and had a
working capital deficiency and accumulated deficit of approximately $(3,805,150)
and $(924,000), respectively.

           The Company's continuation as a going concern is dependent upon its
ability to generate sufficient cash flow from operations or to obtain sufficient
external financing to meet its obligations on a timely basis. The Company plans
to improve operating cash flow and liquidity by improving occupancy rates at
Ramada Plaza and Palmer Inn, and by reducing operating losses at the Chamberlin
Hotel, either through the sale of the property or through a joint venture. There
can be no assurance that the Company will be successful in achieving profitable
operations or have the ability to secure financing needed to meet its
obligations as they become due, or that such financing, if available, will be on
terms and conditions favorable to the Company. Additionally, there can be no
assurance that the Company will realize proceeds from a sale, refinancing, or
joint venture of the Chamberlin Hotel, should such a sale, refinancing or joint
venture occur, in an amount necessary to eliminate its working capital deficit
and repay its debt. The condensed consolidated financial statements do not
include any adjustments that might result from the outcome of this uncertainty.

Item 2 Management's Discussion and Analysis of Financial Condition and Results
--------------------------------------------------------------------------------
       of Continuing Operations
       ------------------------

         The following discussions should be read in conjunction with the
financial statements and notes thereto appearing elsewhere in this report:

         Certain matters discussed in this Quarterly Report on Form 10-QSB are
"forward-looking statements" intended to qualify for the safe harbors from
liability established by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements can generally be identified as such because the
context of the statement will include words such as the Company "believes",
"anticipates", "expects" or words of similar import. Similarly, statements that
describe the Company's future plans, objectives or goals are also
forward-looking statements. Such forward-looking statements are subject to
certain risks and uncertainties which could cause actual results to differ
materially from those currently anticipated. Shareholders, potential investors
and other readers are urged to consider these factors in evaluating the
forward-looking statements and are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements included herein are
made as of the date of this report, and the Company undertakes no obligation to
publicly update such forward-looking statements to reflect subsequent events or
circumstances.

RESULTS OF OPERATIONS
---------------------

Three Months Ended March 31, 2001 compared to Three Months Ended March 31, 2000
--------------------------------------------------------------------------------
for Continuing Operations
-------------------------

         For the three-month period ended March 31, 2001, total revenues were
$1,307,794 as compared to $1,429,465 in the three-month period ended March 31,
2000. Total costs and expenses were $1,953,933 for the three-month period ended
March 31, 2001 as compared to $2,095,036 for the three-month period ended March
31, 2000. The Gross Profit, defined as total revenues less rooms, food and
beverage, and other operating expenses, for the three-month period ended March
31, 2001 was $604,661 as compared to $585,085 for the three-month period ended
March 31, 2000. Total revenues decreased for the three-month period ended March
31, 2001, by 8.5% from the three-month period ended March 31, 2000. Factors
affecting this decrease were several severe winter storms that caused the
cancellation of travel along the mid-Atlantic to northeastern state area,
increased competition in the Princeton, New Jersey area, and a reduction of
reservations in our current markets.

                                       7
<PAGE>

         Total operating expenses decreased by 16.7% to $703,133 in the
three-month period ended March 31, 2001 from $633,189 in the three-month period
ended March 31, 2000. Corporate Office expenses decreased in the three-month
period ended March 31, 2001 by 13.8% to $259,250 from $300,819 in the
three-month period ended March 31, 2000. Sales and Marketing expenses decreased
in the three-month period ended March 31, 2001 by 16.7% to $116,495 from
$139,809 in the three-month period ended March 31, 2000. Interest expense
increased in the three-month period ended March 31, 2001 to $219,597 from
$202,268 in the three-month period ended March 31, 2000. Depreciation and
amortization expense increased for the three-month period ended March 31, 2001
to $257,327 from $221,159 in the three-month period ended March 31, 2000. The
control of costs by management enabled the company to realize a more modest loss
in the first quarter, 2001, as compared to that in the first quarter, 2000. Such
a comparison shows a reduction of costs of $141,103, which is a 6.8% difference
from the first quarter of 2000. Increased interest expense is the direct result
of re-financing activities in 2000. Increased depreciation costs are the result
of increased fixed assets.

         Loss before Income Tax Benefit was $(646,138) in the three-month period
ended March 31, 2001 as compared to $(665,571) in the three-month period ended
March 31, 2000. Net Loss was $(437,138) in the three- month period ended March
31, 2001 as compared to $(442,571) in the three-month period ended March 31,
2000.

Liquidity and Capital Resources
-------------------------------

         The Company's working capital deficiency increased from December 31,
2000 by $333,070. As of March 31, 2001 the Company had net accounts receivable
of $75,137 as compared to $185,227 at December 31, 2000. As of March 31, 2001
the Company had accounts payable and accrued expenses of $1,645,563 as compared
to $1,557,273 at December 31, 2000. The working capital deficit has increased
due to the increase of accrued liabilities such as withholding taxes and
accounts payable. The decrease in net accounts receivable is due to fewer
holiday bookings.

ADDITIONAL FACTS TO CONSIDER
----------------------------

Outlook
-------

         Historically the mid-atlantic hotel region has experienced improved
performance during the second and third quarters of the financial year. We
expect all three hotel locations to meet or exceed the approved budget for 2001
during these quarters. The Ramada City Center has a commitment for bookings from
a tobacco litigation trial starting in August, 2001. Several steps have been
taken to reduce and to consolidate costs at each hotel location, as well as the
corporate office. In addition to the foregoing factors, the Company plans to
improve operating cash flow and liquidity by reducing operating losses at the
Chamberlin Hotel, either through the sale of the Chamberlin Hotel or through a
joint venture. There can be no assurance that the Company will be successful in
those efforts.



                                       8

<PAGE>

PART II - OTHER INFORMATION
---------------------------

Legal Proceedings

         (a) In June, 1999, the Company's subsidiaries Ohio Key I, Inc. and Ohio
Key II, Inc. (collectively, "Ohio Key") filed suit against JCB Financial
Corporation, James C. Barggren, Chamberlin Hotel, L.L.C., and The Chamberlin
Hotel Company in the Circuit Court for the City of Hampton, State of Virginia.
When Ohio Key purchased The Chamberlin Hotel, Ohio Key assumed two notes in the
aggregate principal amount of $3,000,000 payable to The Chamberlin Hotel
Company, which were secured by two deeds of trust (the "Deeds of Trust"). Said
notes were paid, in full, on or about February 4, 1999. Despite such payment,
The Chamberlin Hotel Company assigned the Deeds of Trust to JCB Financial
Corporation, a corporation controlled by James C. Barggren. Subsequent to such
assignment, JCB Financial Corporation refused to satisfy said Deeds of Trusts in
the public records. Ohio Key filed the subject litigation (i) to have the Deeds
of Trust judicially determined to be satisfied and discharged, and (ii) to
obtain a determination as to what amounts of money, if any, were owed by Ohio
Key to James C. Barggren and his affiliates (collectively, "Barggren").

         On October 6, 2000, the parties agreed to settle this case. Pursuant to
such settlement, the parties agreed, among other things, that (i) as of October
6, 2000, the principal balance due Barggren was $1,536,276 together with
interest in the amount of $15,151 for a total of $1,551,427, (ii) Ohio Key would
pay Barggren as soon as possible the principal sum of $1,400,000 plus accrued
interest, (iii) JCB Financial Corporation would satisfy the Deeds of Trust, and
(iv) at such time as the matters set forth in (ii) and (iii) were fulfilled, the
Court would enter an order dismissing this case and the Court would retain
jurisdiction to enforce the settlement and to enter any other appropriate
orders.

         On or about October 13, 2000, and as a result of the settlement, Ohio
Key paid Barggren the principal sum of $1,400,000 plus accrued interest and JCB
Financial Corporation satisfied the Deeds of Trust in the public records.

         In the above litigation, the Court appointed a consultant to prepare a
report ("Report") regarding the indebtedness and claims by and between Ohio Key
and Barggren. The final Report states that Barggren owes Ohio Key the sum of
$265,678.88. Ohio Key and Barggren agreed in such litigation that the
appropriateness of the Report would be submitted to "fast track" arbitration. In
October 2000, James C. Barggren and JCB Financial Corp. requested arbitration
with respect to the Report and any credits or setoffs Barggren may be entitled
to for unpaid principal or interest. No hearings have been held, nor have any
hearings been scheduled, in said arbitration proceedings.

         (b) On June 30, 2000, an Order was entered in a suit filed by
PYA/Monarch, Inc. against the Company in the Circuit Court for the City of
Virginia Beach, Virginia. The Order provided for the entry of a default judgment
against the Company in the sum of $72,138.02, with interest thereon at the rate
of twenty-four per cent (24%) per annum from March 22, 2000, and reasonable
attorney's fees in the amount of $18,000. The Company was not aware of such
Order, or the existence of the underlying lawsuit, until months after the entry
of the Order. Upon becoming aware of such lawsuit, the Company filed a motion to
set aside the default judgment on the basis that the Company was not the proper
party defendant and that the proper defendant should have been the Company's
subsidiary, Old Point Comfort Hotel, L.L.C. ("Old Point"). At the hearing on
such motion, PYA/Monarch Inc. agreed to voluntarily dismiss this lawsuit and to
file appropriate pleadings stating that the default judgment against the Company
is a nullity. Also, at such hearing, Old Point agreed to sign a Confession of
Judgment Note in the original principal amount of $77,500 and said note was
subsequently delivered to PYA/Monarch, Inc.

                                       9
<PAGE>

         (c) On November 30, 2000, Ohio Key I, Inc. filed suit against Monroe
County in the Circuit Court for the Sixteenth Judicial Circuit In and For Monroe
County, Florida. The subject matter of this suit is the Sunshine Key RV Resort
and Marina (the "Park") located in Big Pine Key, Florida; the Park was sold by
Ohio Key I, Inc. on June 4, 1998. The nature of this litigation is, among other
things, a request for monetary damages in the amount of $10,000,000 based upon
Monroe County's alleged improper code enforcement activities that resulted in
Ohio Key I, Inc. selling the Park at below market value. The causes of action in
the complaint are based upon, among other things, defamation, and abuse of
process, malicious prosecution and tortuous interference with a contractual
relationship. Monroe County has filed a motion to dismiss the complaint and the
hearing on such motion has been scheduled for May 1, 2001.

            (d) In October, 2000, Linda Lutz filed suit against Palmer Inn,
Princeton, LLC and Vintage Hotels Corporation, among others, in the Superior
Court of New Jersey in Middlesex County. The nature of this litigation is, among
other things, a request for unspecified monetary damages based upon the alleged
sexual harassment by the defendants, in the form of pregnancy discrimination.
The causes of action in the Complaint are based upon, among other things, sexual
harassment, retaliation and disparate treatment. The Palmer Inn, Princeton, LLC
and Vintage Hotels Corporation have filed answers to the Complaint and no
hearings have been scheduled in this litigation.

            (e) In November, 2000, Betty J. Dempsey filed suit against Ohio Key
I, Inc., Ohio Key II, Inc., McLure House Hotel & Conference Center, LLC, and the
City of Wheeling. The nature of this litigation is a request for monetary
damages in the amount of $50,000 based upon the plaintiff's alleged slip and
fall on a crack in a sidewalk adjacent to the Ramada Plaza City Center. The
causes of action in the Complaint are based upon negligence. The City of
Wheeling has filed a cross claim seeking contribution or indemnity against Ohio
Key I, Inc., Ohio Key II, Inc., and McLure House Hotel & Conference Center, LLC.
This matter has been referred to the Company's insurance carrier, and Ohio Key
I, Inc., Ohio Key II, Inc., and McLure House Hotel & Conference Center, LLC,
have filed a cross claim seeking contribution or indemnity against the City of
Wheeling. No hearings have been scheduled in this litigation.

Item 2. Changes in Securities

        Not applicable

Item 3. Defaults Upon Senior Securities

        Not applicable

Item 4. Submission of Matter to a Vote of Security Holders

        Not applicable

Item 5. Other Information

         Not applicable


                                       10

<PAGE>

Item 6. Exhibits and Reports on Form 8-K


         Not applicable

        Reports on Form 8-K

         Not applicable

<PAGE>

                                   SIGNATURES

In accordance with Section 13 or 15 (d) of the Securities Exchange Act of 1934,
Pelican Properties International, Corp. has caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                 PELICAN PROPERTIES INTERNATIONAL, CORP.



DATE:    May 15 , 2001                  By: /s/ C. John Knorr
         -------------                     -----------------------------------
                                           C. John Knorr, Chairman












                                       11