It's looking like mo' money, mo' problems for his Diddyness as the man he allegedly punched in the face over the weekend said Tuesday that their legal fight is definitely on.

Steven Acevedo, 31, told The Post that reports that he and Sean "Diddy" Combs had made up after meeting at the club Butter following their violent scuffle were not true and the gloves are still off.

"Definitely not," he said outside his Manhattan apartment, before slowly drawing his finger across his throat in a menacing gesture directed at the hip-hop mogul, who is a longtime acquaintance.

But at the same time, Combs skipped a scheduled meeting with detectives at the 1st Precinct station house Tuesday afternoon, and his powerhouse attorney, Benjamin Brafman, put out a statement saying Diddy was not going to be arrested.

"We are hopeful this matter will be resolved without the filing of any criminal charges as this was a disagreement among acquaintances, not a criminal assault," he said.

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