ObjectSoft Corporation has retained the services of two major organizations to raise additional capital and to market nationwide the firm’s interactive public access terminals, housed in modular kiosks, Chairman David E.Y. Sarna announced today.
Infusion Capital Partners, LLP has been retained by ObjectSoft to raise $5 million in debt financing. This financing is to provide the company the necessary funds to expand the distribution of kiosks in New York City and other cities throughout the U.S.
The prominent real estate firm of Julian J. Studley, Inc. will seek locations for at least 50 more IPAT kiosks in New York City over the next six months. Managing Director Marc Miller will spearhead this effort. Additionally, ObjectSoft plans entry of the IPAT kiosks into the top ten media markets including San Francisco, Seattle, Los Angeles, Chicago, Philadelphia and Memphis within the next twelve months.
“We are starting to receive an enormous amount of attention and inquiries,” explained Sarna. “We are assembling this team to respond to this attention and move strategically with further development and deployment.”
“People are interested in our products and service,” said President George J. Febish. “These two resources will assist in our development and help us to reach our goals efficiently and with the best possible product on the market today. People who use our IPAT kiosks should find the information useful and enjoy the experience.”
ObjectSoft currently maintains SmartStreet IPAT kiosks as a part of the CityAccess program in New York City. SmartStreet IPATs bring information and regulations, forms and services to New Yorkers directly from City mainframe computers using multi-media technologies. Using an ATM-type screen, visitors and residents also can access hundreds of pages of information on attractions, dining, theater, hotel accommodations and customized transit maps.
SmartStreet also allows the user to design and print custom maps. ObjectSoft currently has SmartStreet IPAT kiosks in the Department of Health building at 125 Worth Street, Manhattan; The St. George’s Terminal of the Staten Island Ferry, The Bronx and Brooklyn Municipal Buildings, Queens Borough Hall and the New York Hall of Science in Queens.
Founded in 1990, ObjectSoft is a leader in providing information and Internet-based services and has pioneered secure credit card processing of electronic commerce. ObjectSoft is a publicly held company listed on Nasdaq. For more information on ObjectSoft, visit their website at .
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.Details