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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 1)(1)
Objectsoft Corporation
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(Name of Issuer)
Common Stock, par value $0.0001 per share
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(Title of Class of Securities)
674427 40 6
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(CUSIP Number)
December 30, 1999
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-(c)
[_] Rule 13d-1(d)
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(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
<PAGE>
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CUSIP No. 674427 40 6 13G Page 2 of 7 Pages
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________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Hudson Venture Associates LLC
13-392 7192
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 291,577
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 291,577
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
291,577(1)
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.8%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 674427 40 6 13G Page 3 of 7 Pages
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________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jay N. Goldberg
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 291,577
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 291,577
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
291,577(1)
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.8%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 674427 40 6 13G Page 4 of 7 Pages
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________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Lawrence A. Howard
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 291,577
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 291,577
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
291,577(1)
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.8%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 674427 40 6 13G Page 5 of 7 Pages
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ITEM 1(A). NAME OF ISSUER:
ObjectSoft Corporation
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
Continental Plaza III
433 Hackensack Avenue
Hackensack, New Jersey 07601
ITEM 2(A). NAME OF PERSON FILING:
This statement is filed on behalf of the following persons
(collectively, the "Reporting Persons"):
i) Hudson Venture Associates LLC ("Hudson")
ii) Jay N. Goldberg; and
iii) Lawrence A. Howard.
This statement relates to the shares of common stock of
ObjectSoft Corporation held by Hudson. Messrs. Goldberg and
Howard are the only members of Hudson.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Principal business address of each Reporting Person:
660 Madison Avenue
New York, New York 10021
ITEM 2(C). CITIZENSHIP:
Hudson is a limited liability corporation organized under
the laws of the State of New York. Messrs. Goldberg and
Howard are United States Citizens.
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, par value $0.0001 per share
ITEM 2(E). CUSIP NUMBER:
674427 40 6
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-
2(B), CHECK WHETHER THE PERSON FILING IS A:
Not Applicable
<PAGE>
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CUSIP No. 674427 40 6 13G Page 6 of 7 Pages
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ITEM 4. OWNERSHIP.
(a) Amount beneficially owned as of December 31, 1999: Each of the
Reporting Persons may be deemed to be the beneficial owner of
291,577 shares of common stock of ObjectSoft Corporation.
Includes 58,333 shares which are subject to currently exercisable
warrants held by the Reporting Persons. (1)
(b) Percent of class: 6.8%
(c) Number of shares as to which each Reporting Person has:
(i) Sole power to vote or direct the vote: 291,577
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 291,577
(iv) Shared power to dispose or direct the disposition of: 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not Applicable
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(1) The Reporting Persons acquired shares of Series G Preferred Stock,
(the "Preferred Stock") of the Issuer pursuant to a subscription agreement,
dated as of December 30, 1999 (the "Subscription Agreement"). Pursuant to the
Subscription Agreement, Hudson purchased 5,000 shares of Preferred Stock and
50,000 warrants to purchase Common Stock (the "Warrants"). The number of shares
of Common stock to be received by the Reporting Persons upon the conversion of
the Preferred Stock is dependent upon the market price of the Common Stock. Each
share of the Preferred Stock may be converted to Common Stock by dividing the
"purchase price" ($100.00 per share) by the "conversion price". The "conversion
price" equals the lesser of (a) $2.6875 or (b) the average of the two lowest
closing bid prices of the Common Stock during the 20 day trading period
immediately preceding the conversion date (the "Lookback Period"). (The Lookback
Period is increased by two trading days on the last trading day of each month,
starting on the first day of the fourth month from the first closing of the
issuance of the Preferred Stock, until the Lookback Period equals a maximum of
thirty trading days.) The shares of Preferred Stock may not be converted until
the earlier of (i)March 29, 2000 and (ii) the effective date of the registration
statement covering the resale of the Common Stock, and thereafter only one-third
of a holder's acquired shares of Preferred Stock may be converted, on a
cumulative basis, during each 30 day period. As a result of this formulation,
the actual number of shares of Common Stock to be issued upon conversion of the
Preferred Stock cannot be determined at this time. The number of shares of
common Stock issuable to Hudson at any time upon conversion may not exceed the
number of shares which, when aggregated with all other shares of Common Stock
then owned of record by Hudson or which Hudson may acquire within 60 days upon
exercise of any outstanding options or warrants of the Issuer, would result in
Hudson owning, in aggregate, more than 9.99% of all of the Issuer's outstanding
Common Stock on the date of conversion.
<PAGE>
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CUSIP No. 674427 40 6 13G Page 7 of 7 Pages
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable
ITEM 10. CERTIFICATION.
By signing below each signatory certifies that, to the best of his/its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
SIGNATURE
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 10, 2000 HUDSON VENTURE ASSOCIATES LLC
By: /s/ Lawrence A. Howard
-----------------------------------
Name: Lawrence A. Howard
Title: Manager
Dated: February 10, 2000 By: /s/ Jay N. Goldberg
-----------------------------------
Jay N. Goldberg
Dated: February 10, 2000 By: /s/ Lawrence A. Howard
-----------------------------------
Lawrence A. Howard
