---------------------------
OMB APPROVAL
---------------------------
OMB Number: 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response......0.5
---------------------------
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
================================================================================
1. Name and Address of Reporting Person*
Sarna David E.Y.
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
Continental Plaza, Building III
433 Hackensack Avenue
- --------------------------------------------------------------------------------
(Street)
Hackensack NJ 07601
- --------------------------------------------------------------------------------
(City) (State) (Zip)
================================================================================
2. Issuer Name and Ticker or Trading Symbol
ObjectSoft Corporation - OSFT
================================================================================
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
================================================================================
4. Statement for Month/Year
03/98
================================================================================
5. If Amendment, Date of Original (Month/Year)
================================================================================
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[x] Director [x] 10% Owner
[x] Officer (give title below [ ] Other (specify below)
Chairman, Co-Chief Executive, Officer & Secretary
-------------------------------------------------
================================================================================
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
================================================================================
<PAGE>
Table I-- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
<TABLE>
<CAPTION>
2. 3. 4. 6.
Trans- Trans- Securities Acquired (A) 5. Owner-
action action or Disposed of (D) Amount of ship 7.
Date Code (Instr. 3, 4 and 5) Securities Form: Nature of
(Instr. 8) ----------------------- Beneficially Direct Indirect
---------- Owned at (D) or Beneficial
1. (Month/ (A) End of Month Indirect Owner-
Title of Security Day/ Amount or Price (Instr. 3 (I) ship
(Instr. 3) Year) Code V (D) and 4) (Instr. 4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value $.0001 per share 03/26/98 S 19,000 D (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.0001 per share 03/27/98 S 4,000 D 2 3/8
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.0001 per share 03/30/98 S 3,000 D (2)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock, par value $.0001 per share 03/31/98 S 1,000 D 2 7/32 685,500(3) D
====================================================================================================================================
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(0ver)
<PAGE>
* If the Form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
Table II-- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
1. 2. 3. 4. 5. 6. 7. 8. 9.
Title of Conver- Trans- Trans- Number of Date Title and Amount Price Number 10.
Derivative sion action action Derivative Exercisable and of Underlying of of deriv- Owner-
Security of Date Code Securities Expiration Date Securities Deriv- ative ship 11.
(Instr. 3) Exer- (Instr. Acquired (A) (Month/Day/Year) (Instr. 3 and 4) ative Secur- Form of Nature
cise (Month/ 8) or Disposed ---------------- ---------------- Secur- ities Deriv- of
Price Day/ ------- (Instr. 3, ity Bene- ative Indirect
of Year) Code V 4, and 5) (Instr. ficially Security: Benefi-
Deriv- ----------- Date Expira- Amount 5) Owned Direct cial
ative (A) (D) Exer- tion Title or at End (D) or Owner-
Secur- cisable Date Number Month Indirect ship
ity of (Instr. (Instr. (Instr.
Shares 4) 4) 4
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Option to Purchase
Common Stock $3.50 7/01/96 6/30/01 Common Stock 50,000 D
- ------------------------------------------------------------------------------------------------------------------------------------
Warrant to Purchase
Common Stock $.50 4/15/93 4/30/00 Common Stock 50,000 100,000 D
====================================================================================================================================
</TABLE>
Explanation of Responses:
(1) Of the 19,000 shares of common stock sold, 12,000 shares were sold at $2
9/16, 2,000 were sold at $2 3/8, 2,000 shares were sold at $2 7/16 and 3,000
shares were sold at $2 1/2.
(2) Of the 3,000 shares of common stock sold, 1,000 shares were sold at $2 3/16
and 2,000 shares were sold at $2 3/8.
(3) Includes 150,000 shares of common stock owned by The David E.Y Sarna Family
Trust of which Mr. Sarna's wife and Melvin Weinberg are the trustees and as to
which shares Mr. Sarna disclaims beneficial ownership.
/S/DAVID E.Y. SARNA APRIL 10, 1998
- ------------------------------- ---------------------
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. April 9, 1998
See 18 U.S.C. 1001 and 15 U.S.C.
Note:File three copies of this Form, one of which must be manually signed. If
space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays
a currently valid OMB Number.
