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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
OBJECTIVE COMMUNICATIONS, INC.
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(Name of Issuer)
Common Stock, $0.01 value per share
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(Title of Class of Securities)
674421 10 2
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(CUSIP Number)
- -----
*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 (the "Act") 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 1 of 7 Pages<PAGE>
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CUSIP No. 674421-10-2 13G Page 2 of 7 Pages
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1. NAME OF REPORTING PERSON -
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Princeton Venture Research, Inc. - 22-2572870
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
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3. SEC USE ONLY
- -----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
State of New Jersey
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5. SOLE VOTING POWER
635,661
NUMBER OF ------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY Not applicable.
OWNED BY ------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 635,661
PERSON ------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER
Not applicable.
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
635,661
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
[]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.2%
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12. TYPE OF REPORTING PERSON
CO
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CUSIP No. 674421-10-2 13G Page 3 of 7 Pages
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1. NAME OF REPORTING PERSON -
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
John B. Torkelsen
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
5. SOLE VOTING POWER
760,661
NUMBER OF ------------------------------------------------
SHARES 6. SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 660,661
PERSON ------------------------------------------------
WITH 8. SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
760,661
- -----------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
[X]
- -----------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
13.4%
- -----------------------------------------------------------------
12. TYPE OF REPORTING PERSON
IN
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CUSIP No. 674421-10-2 13G Page 4 of 7 Pages
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Item 1.
(a) Name of Issuer:
Objective Communications, Inc., a Delaware corporation
(b) Address of Issuer's Principal Executive Office:
75 Rochester Avenue
Portsmouth, NH 03801
Item 2. Name of Person Filing
(a) Name of Person Filing:
-Princeton Venture Research, Inc., a New Jersey
corporation
-John B. Torkelsen ("Mr. Torkelsen")
(b) Address of Principal Business Office:
John B. Torkelsen
c/o Princeton Venture Research, Inc.
5 Vaughn Drive
Princeton, NJ 08540
(c) Citizenship or place of organization:
Princeton Venture Research, Inc.: New Jersey
Mr. Torkelsen: United States
(d) Title Class of Securities:
Common Stock, $0.01 value per share
(e) CUSIP Number:
674421-10-2
Item 3. Category of person filing
Not applicable
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CUSIP No. 674421-10-2 13G Page 5 of 7 Pages
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Item 4. Ownership.
(a) Amount Beneficially Owned:
Princeton Venture Research, Inc.'s beneficial ownership
as of December 31, 1997 included 528,041 shares of the Issuer's
Common Stock, $0.01 par value per share (the "Common Stock") and
107,620 shares of Common Stock issuable upon exercise of
warrants.
Mr. Torkelsen's beneficial ownership as of December 31,
1997 included (i) the 528,041 shares of Common Stock and the
107,620 shares of Common Stock issuable upon the exercise of the
warrants beneficially owned by Princeton Venture Research, Inc.,
of which he is the President and sole shareholder, (ii) 100,000
shares of Common Stock issuable upon exercise of warrants
beneficially owned by Acorn Technology Fund, L.P., of which Mr.
Torkelsen is the Manager of the general partner, and (iii) 20,000
shares of Common Stock beneficially owned by Pamela Torkelsen,
Mr. Torkelsen's wife, and 5,000 shares of Common Stock issuable
upon exercise of warrants owned by Mrs. Torkelsen. Pursuant to
the governing documents of the general partner of Acorn
Technology Fund, L.P., the Manager may not dispose of securities
held by Acorn Technology Fund, L.P. without the prior consent of
the holders of 70% of the membership interests in the general
partner. Mr. Torkelsen owns less than 70% of such interests.
Mr. Torkelsen disclaims beneficial ownership of all shares of
Common Stock and warrants held by Mrs. Torkelsen.
(b) Percent of Class (as of December 31, 1997):
Princeton Venture Research, Inc.: 11.2%
Mr. Torkelsen: 13.4%
(c) Number of Shares to Which Such Person Had:
Princeton Venture Research, Inc:
(i) Sole voting power: 635,661*
(ii) Shared voting power: 0
(iii) Sole dispositive power: 635,661*
(iv) Shared dispositive power: 0
Mr. Torkelsen:
(i) Sole voting power: 760,661*
(ii) Shared voting power: 0
(iii) Sole dispositive power: 660,661*
(iv) Shared dispositive power: 0
* See Item 4(a) above regarding ownership of such shares.
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CUSIP No. 674421-10-2 13G Page 6 of 7 Pages
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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 Members of the
Subsidiary Which Acquired the Securities Being Reported
on by the Parent Holding Company.
Not Applicable.
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 Princeton Venture Research, Inc. and Mr.
Torkelsen each certify that, to the best of such parties'
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not acquired
for the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any
transaction having such purposes or effect.
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CUSIP No. 674421-10-2 13G Page 7 of 7 Pages
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SIGNATURE
After reasonable inquiry and to the best of our knowledge
and belief, we certify that the information set forth in this
statement is true, complete and correct.
Date: November 6, 1998 Princeton Venture Research, Inc.
By: /s/ John B. Torkelsen
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John B. Torkelsen, President
Date: November 6, 1998 /s/ John B. Torkelsen
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John B. Torkelsen
