The police report from last week's CHRIS BROWN / FRANK OCEAN parking lot altercation has hit the Internet . . . and you'll never believe this, but it doesn't make Chris sound like a nice guy.

Frank told the police that during the fight, Chris threatened to SHOOT HIM . . . saying,"We can bust on you, too!"

He also said he heard someone call him a GAY SLUR.  (--The one that starts with an "F" and rhymes with SAGET.)  But he couldn't say for sure if it was Chris or one of his boys.  

Frank said the fight lasted two or three minutes . . . and as we'd heard, it was over a prime parking spot at a recording studio.  Frank said the fight began after he confronted Chris about taking his spot.

 At some point, Chris tried to shake his hand . . . but when Frank refused, Chris PUNCHED HIM in the face.  And that's when the brawl got going.  Frank said Chris' boys shoved him around, and he suffered minor cuts on his finger and head.

According to the report, Frank told police he wanted to press charges . . . but apparently he had a change of heart, because earlier this week he announced that he was just going to drop it.