ObjectSoft Signs Master Lease Agreement with RCC Finance Group [.14329]
/FROM PR NEWSWIRE NEW YORK 800-776-8090/
TO BUSINESS AND TECHNOLOGY EDITORS:
ObjectSoft Signs Master Lease Agreement with RCC Finance Group
HACKENSACK, N.J., Dec. 30 /PRNewswire/ -- ObjectSoft Corporation
(Nasdaq: OSFT) Chairman David E. Y. Sarna announced that ObjectSoft has
completed an initial $1,000,000 Master Lease Agreement with Teaneck, NJ based
RCC Finance Group Ltd.
The five-year lease initially provides $350,000 which ObjectSoft will use
to fund the manufacture of 35 FastTake kiosks and related infrastructure.
These kiosks are expected to generate up to $300,000 in annual sales for the
company. Additional financing is expected as more sales are made in the
coming months.
"We are delighted to serve as the funding source for ObjectSoft's
innovative FastTake kiosks," said Barry Cooper, RCC's president and CEO.
"RCC's innovative leasing programs allows us to conserve capital, preventing
dilution of shareholder's equity," said David E. Y. Sarna, ObjectSoft's
Chairman and Co-CEO.
Separately, Sarna announced that ObjectSoft is on-track to deliver the
first FastTake kiosks to customers in January and early February.
About ObjectSoft
Founded in 1990, ObjectSoft Corporation provides information and services
through public access kiosks. The Company's products, FastTake and SmartSign
kiosks enable organizations to interact with the general public in high
density pedestrian traffic areas. ObjectSoft is a publicly held company
listed on Nasdaq. For more information on ObjectSoft, visit their website at
objectsoftcorp.com.
About RCC Finance Group Ltd.
Founded in 1980, and headquartered in Teaneck, NJ, RCC is a leader in
Multinational equipment finance for emerging growth companies. RCC provides
sophisticated secured leasing products ranging generally in the size of
$500,000 to $50 Million. RCC is privately held. For more information on RCC,
contact Gene Verba at 201.833.4480 ext 105.
This press release contains certain forward-looking statements concerning
ObjectSoft which are subject to a number of known and unknown risks that could
cause actual results, performance and achievements to differ materially from
those described or implied in the forward-looking statements. Among such
risks are those discussed in the Company's Registration Statement on Form SB-2
and its Quarterly Report on Form 10-QSB and include, but are not limited to,
limited operating history, recent establishment of new business divisions,
dependence on new and untested product, risks related to technological factors
and potential manufacturing difficulties.
SOURCE ObjectSoft Corporation
/CONTACT: Brian Bailey of Rubenstein Associates Public Relations,212-843-9258,
for ObjectSoft/
/Company News On-Call: prnewswire.com or
fax,800-758-5804, ext. 124404/
/Web site: objectsoftcorp.com
Dec-30-1998 12:17 GMT
Symbols:
US;OSFT
Source PRN PR NewsWire
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