News

ObjectSoft names new chief

April 1, 2002

HACKENSACK, N.J. -- ObjectSoft Corp., maker of the FastTake entertainment kiosk, named S. Michael Rudolph as chairman, president and chief executive officer. Rudolph replaces David E.Y. Sarna, ObjectSoft's long-time leader, who resigned from the company.

Earlier this month, ObjectSoft stock (OSFT) was delisted from the Nasdaq after failing to maintain a price of at least $1 per share, the minimum requirement for being listed. The company appealed the delisting to the Nasdaq Listing Qualifications Panel and lost. ObjectSoft's stock had fallen from its March 2000 high of $8 to about 6 cents per share at the beginning of April, 2001. The stock now trades on the OTC Bulletin Board as OSFT.OB. Prices have risen slightly to 14 cents per share.

Rudolph brings more than 25 years experience in the financial services industry to ObjectSoft. He founded the Edgehill Group Inc., a California-based financial advisory and consulting services organization, and has held senior management positions at Wells Fargo and Charles Schwab & Co.

Rudolph believes the company has the underpinnings of a successful model for its kiosk business.

"We will explore various options to accelerate the development of this business, including raising additional capital and evaluating strategic alternatives to maximize value for our shareholders," Rudolph said.

Founded in 1990, ObjectSoft provides information and transactional services through public access kiosks, which enable organizations to interact with the general public through Internet-connected computers. The company's current kiosk product, called FastTake, allows users to search and review movie titles, sample movie trailers, and purchase other goods and services from the kiosk.