SECURITIES AND EXCHANGE COMMISSION
                                              WASHINGTON, D.C. 20549

                                                    Form 10-KSB


                                         FOR ANNUAL AND TRANSITION REPORTS
                                      PURSUANT TO SECTIONS 13 OR 15(d) OF THE
                                          SECURITIES EXCHANGE ACT OF 1934

                                 X      Annual Report  Pursuant to Section 13 or
                                        15(d) of The Securities  Exchange Act of
                                        1934

                                    For the fiscal year ended December 31, 1996
                                                        or
                      Transitional Report Pursuant to Section 13 or 15(d) of
                                        The Securities Exchange Act of 1934
                                         For the transition period from to

                                        Commission File Number 033-19522-NY

                                         GENISYS RESERVATION SYSTEMS, INC.
                                          (formerly Robotic Lasers, Inc.)
                       (Exact Name of registrant as specified in its charter)

New Jersey                                                   22-2719541
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                           Identification No.)

2401 Morris Avenue, Union, New Jersey                        07083
(Address of principal executive offices)                    (Zip Code)

Registrant's  telephone number,  including area code: (908) 810-8767  Securities
registered  pursuant to Section  12(b) of the Act:  NONE  Securities  registered
pursuant to Section 12(g) of the Act:
                                     Common Stock, par value $.0001 per share
                                            Class A Redeemable Warrants
                                            Class B Redeemable Warrants

         Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days.
                           Yes - X          No

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated  by  reference in Part III of this Form 10-K or any  amendments  to
this Form 10-K. [X]

   State the aggregate  market value of the voting stock held by  non-affiliates
     of the  registrant.  The  aggregate  market  value  shall  be  computed  by
     reference to the price at which the stock was sold, or the average bid
        and asked  prices of such stock,  as of a specified  date within 60 days
prior to the date of filing.

                  $12,275,802 as of the close of business on March 24, 1997


<PAGE>




                         APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                                PROCEEDINGS DURING THE PRECEDING FIVE YEARS

         Indicate by check mark whether the  registrant  filed all documents and
reports  required  to be  filed by  Section  12,  13 or 15(d) of the  Securities
Exchange Act of 1934 subsequent to the  distribution of securities  under a plan
confirmed by a court.
                                                      Yes No


                                     APPLICABLE ONLY TO CORPORATE REGISTRANTS

         Indicate the number of shares  outstanding of each of the  registrant's
classes of common stock, as of the latest practicable date. The number of shares
outstanding of the registrant's  Common Stock as of March 25, 1997 was 4,330,594
shares.


                                        DOCUMENTS INCORPORATED BY REFERENCE

         List hereunder the following documents if incorporated by reference and
the part of the Form 10-K (e.g.,  Part I, Part II, etc.) into which the document
is  incorporated:  (1) any annual report to  security-holders;  (2) any proxy or
information  statement;  and (3) any prospectus filed pursuant to Rule 424(b) or
(C) under the  Securities Act of 1933.  The listed  documents  should be clearly
described for identification purposes.


1. Rule 424(b) Prospectus dated March 20, 1997 is incorporated herein by
    reference into Parts I, II and III

          3.1      Registrant's Articles of Incorporation
          3.2      Registrant's By-Laws
          4.1      Form of Common Stock Certificate
          4.2      Redeemable Warrant Agreement with Form of Class A  and
                   Class B Warrant
         10.1      Employment Agreement dated October 17, 1996  between
                   Registrant and Joseph Cutrona.
         10.2      Consulting Agreement dated October 18, 1996 between the
                   Registrant and Mark A. Kenny.
         10.3      Employment Agreeement dated October 17, 1996  between
                   Registrant and John Wasko.
         10.4     Copy of lease dated November 1, 1995 between Unicom  and
                  Corporate Travel Link, Inc.
         10.5     Copy of Agreement dated June 22, 1995 between  American
                  Airlines, Inc., and Corporate
                  Travel  Link,  Inc.,  relating  to Sabre  Extension  Program-
                  Associate Distribution and Services Agreement.
         10.6     Copy of Agreement dated June 30, 1995 between  American
                  Airlines, Inc. and Corporate
                  Travel Link,  Inc., relating to Associate Sabre Equipment
                  Lease Agreement.
         10.7     Copy of Agreement dated June 30, 1995 between  American
                  Airlines, Inc., and Corporate
                  Travel Link, Inc. - non-standard system amendment to
                  Corporate Sabre Equipment Lease Agreement.
         10.8     Copy of Script Consulting Agreement dated June 21, 1995
                  between Worldspan, LP and Corporate Travel  Link, Inc.
         10.9     Copy of Script Services agreement dated June 21, 1995
                  between Worldspan, LP and Corporate  Travel  Link, Inc.
         10.10    Copy of Galileo  Services  Display and  Reservation  Agreement
                  dated   August  28,   1995   between   Galileo   International
                  Partnership and Corporate Travel Link, Inc.
         10.11    Copy of  Ancillary  Services  Agreement  dated August 28, 1995
                  between Galileo International Partnership and Corporate Travel
                  Link, Inc.
         10.12    Copy of Worldspan Car Rental Associate Reservation  Agreement
                  between Worldspan, LP and Corporate  Travel Link, Inc.

                                                         1

<PAGE>



         10.13    Copy of Interim Loan Agreement between the Registrant and Loeb
                  Holding Corporation and certain executives of the Registrant.
         10.14    Prosoft Consulting Agreement
         21       List of Subsidiaries



All of the  above-referenced  documents,  with the  exception of the Rule 424(b)
Prospectus, are incorporated herein by reference to the Exhibit bearing the same
number  in the  Registrant's  Registration  Statement  on Form  SB-2,  File  No.
333-15011.

















                                                         1

<PAGE>



                                                      Part I

Item 1.  Business

History

         The  Company  was  incorporated  in  New  Jersey  in  April  1986  as a
wholly-owned subsidiary of JEC Lasers, Inc. ("JEC") to continue the research and
development  of an  ultra-compact,  multi-kilowatt  CO2  laser  begun  under  an
agreement with Loughborough  Consultants Ltd. ("LCL"),  which is affiliated with
Loughborough University of Technology, Loughborough, Leicestershire, England.

         Due to the  uncertain  financial  condition  of JEC  and,  in  order to
preserve the CO2 laser technology which management felt may have had some value,
on May 30, 1986, the Board of Directors of JEC voted to spin-off  Robotic Lasers
into an independent,  publicly-owned  corporation by issuing a stock dividend of
one share of the  Company's  Common  Stock for every  four  shares of JEC common
stock outstanding to all shareholders of record as of July 8, 1986. On September
23,  1988,  the shares were  registered  under the  Securities  Act of 1933,  as
amended.  On June 25,  1986,  the  Company  and JEC signed a Purchase  Agreement
whereby the Company acquired all the assets,  rights and properties  relating to
JEC's CO2 laser research and development  agreement with LCL, subject to certain
liabilities.

         On March 3,  1995,  the  Company  sold all of the  assets,  rights  and
properties  relating to the CO2 laser  research and  development  agreement with
LCL,  subject to certain  liabilities,  to JEC for  $345,593  which  generated a
profit of approximately $246,000.

         On  August  9,  1995,  the  shareholders  of the  Company  approved  an
amendment  to  the  Company's   Certificate   of   Incorporation   to  effect  a
one-for-fifty-five  reverse stock split pursuant to which each fifty-five shares
of the Company's  Common Stock  outstanding  as of its close of business on July
12, 1995 was  replaced  by one share of Common  Stock.  The reverse  stock split
reduced the number of  outstanding  shares of Common  Stock of the Company as of
July 12, 1995 from  30,853,352  to 560,970  (before  July 16,  1996  one-for-two
reverse split) shares of Common Stock.

         On August 11, 1995, the Company acquired Corporate Travel Link, Inc. (a
development-stage  enterprise)  which  was  incorporated  on March 7,  1994,  by
issuing  1,682,924  shares of restricted  New Common Stock of the Company (after
the July 16, 1996  one-for-two  reverse split. See Notes 1 and 3 to December 31,
1996  financial  statements)  in exchange  for 200 shares of the Common Stock of
Corporate  Travel Link ("Travel Link") which  represented all of the authorized,
issued and outstanding shares of common stock of Travel Link.

         Since August 11, 1995,  the  Company's  business  and  operations  have
consisted  solely of the business and operations of Travel Link which  continues
to operate as a wholly-owned subsidiary of the Company.

         On July 16, 1996, the Company's stockholders approved and effectuated a
one-for-two reverse stock split. Such split has been retroactively  reflected in
the  text  of  this  document  and in the  accompanying  consolidated  financial
statements and notes.

General

         The principal business activity of Genisys  Reservation  Systems,  Inc.
("Company")  is  developing a  computerized  limousine  reservation  and payment
system for the business traveler. The management of the Company anticipates that
the  proprietary   software  that  is  being  developed  will  enable  limousine
reservations  to be  completely  computerized  i.e.,  be entirely  automatic and
operate  without human  intervention  except for the initial  inputing of travel
information.  Genisys Reservation  Systems,  Inc. is a development stage company
and has no commercially available products at the present time.

         At the present time, there are four major airline computer  reservation
systems in operation in the United States -- "Sabre,"  "Worldspan," "Apollo" and
"System One" (each reservation system referred to hereinafter as

                                                         2

<PAGE>



a "CRS"). Each CRS allows a travel agency or corporate travel department to make
an airline reservation and receive  instantaneously a confirmation and a printed
airline ticket on any airline.  It is also possible to make a hotel  reservation
with any of the major hotel chains through any CRS and receive an  instantaneous
confirmation  of room  availability.  Additionally,  a travel agent or corporate
travel  manager  may make an  automobile  reservation  with any of the major car
rental  companies  (Hertz,  Avis and the like)  through  any CRS and  receive an
immediate confirmation of the car rental reservation.

         When it comes to limousine  reservations,  however, there is at present
no method for making a  reservation  through a CRS and  receiving  an  immediate
guaranteed confirmation. The usual method of making a limousine reservation in a
destination  city  is to  call a  limousine  company,  if the  corporate  travel
department  or travel agent knows of one.  This use of the  telephone,  with its
attendant inconveniences such as "telephone tag" and missed communications,  can
make securing a confirmed limousine reservation inconvenient.

         The Company seeks to solve the problem by:

         1.       Developing a limousine reservation system that utilizes the
CRS' already in use;

         2.       Developing a way to identify and qualify the best limousine
service providers in the cities that
are the business travelers' most frequent destinations;

         3.       Developing a way to disseminate reservation information to
corporate clients and to limousine service providers with no errors, with
immediate confirmation and without the need to utilize the telephone;

         4.       Developing an automated electronic payment system to
process all fees charged by the Company to its clients;

         5.       Performing the above described tasks with a high degree of
quality control; and

         6. Providing  corporate  clients with precise  management and financial
information, to enable them to ascertain where their money is being spent.

         The Company is developing its own computer  system which will link with
one or more of the CRS's.  The Company's  computer system will be made up of two
systems,  the Genisys  Reservation  System and the Genisys Payment  System.  The
Genisys Reservation System will be a fully automated computer system that allows
travel agents to make  limousine  bookings  directly  through any CRS, much like
hotel and car bookings.  The Genisys  Payment System is an automated  electronic
payment and reporting system which will process and reconcile all purchases made
through the Genisys  Reservation  System.  The Genisys Payment System is not yet
operational.  All hardware required for development and commercial  operation of
the  Company's  Reservation  and  Payment  Systems has been  purchased,  and are
off-the-shelf components not manufactured by the Company.

Employees

         The  Company  presently  employs 5  full-time  employees;  2  executive
officers,  2 marketing  executives,  and 1 office  administrator.  None of these
employees is covered by a collective bargaining agreement.  The Company utilizes
several  software  and  marketing  consultants  on a  part-time  basis  and  one
full-time ground  transportation  industry consultant.  The company believes its
personnel relations to be satisfactory.



                                                         3

<PAGE>



Item 2.  Properties

         The Company presently leases  approximately 1,500 square feet of office
space at 2401 Morris  Avenue,  Union,  New Jersey,  07083.  The  five-year  lese
expires in November 2000 and provides for a monthly  rental of  $2,125.00.  This
property  has  been  leased  from  unaffiliated  third  parties  and  adequately
satisfies the present needs of the Company. The Company anticipates that it will
need approximately 3,500 square feet in additional space in mid 1997.

         A portion of the  additional  space  (approximately  1,500 square feet)
will be used to house the  computer  hardware  system  which runs the  Company's
Reservation and Payment Systems software programs. The balance of the space will
be used for  additional  corporate and sales  offices.  The Company  requires no
manufacturing  facilities  since  it has no  present  plans to  manufacture  any
hardware  items.  All  hardware  related to the  Company's  software  product is
purchased commercially.


Item 3.  Legal Proceedings

         On February  20,  1997,  two  individuals  filed an action  against the
Company and Travel Link in the Superior Court of New Jersey seeking, among other
things,  damages in the  amount of 8% of any  financing  secured by Travel  Link
resulting  from  plaintiffs  efforts and as well as 5% of the  Company's  Common
Stock  allegedly  due for services  rendered in  connection  with the  Company's
acquisition of Travel Link in 1995. The claim for money damages is based upon an
alleged written  agreement  between Travel Link and plaintiffs,  while the claim
for the shares of Common Stock is based upon alleged  oral  representations  and
promises  made by an officer  of Travel  Link.  The  Company  believes  that the
plaintiffs claims are without merit and intends to vigorously defend the action.

         In August 1996, the Company gave notice to one of its former  officers,
Mr.  Steven E.  Pollan,  that it was  canceling  333,216  shares of Common Stock
issued to him for services he was to have provided at the inception of Corporate
Travel Link,  Inc. The Company  believes  that Mr.  Pollan never  provided  such
services; Mr. Pollan has informed the Company, however, that he will contest any
attempt to cancel his shares.


Item 4.  Submission of Matters to a Vote of Security Holders

         A special  meeting of the  shareholders  of the Company was held at the
offices of Paul A.  Wurtzel,  Esq.,  300 Grand  Avenue,  Englewood,  New Jersey,
07631,  on  Wednesday,  August  9,  1995  at  9:30  a.m.  At  the  meeting,  the
shareholders of the Company  approved an amendment to the Company's  Certificate
of Incorporation to effect a one-for-fifty-five  reverse stock split pursuant to
which each fifty-five shares of the Company's Common Stock outstanding as of the
end of business on July 1, 1995 was  replaced by one share of New Common  Stock.
The Reverse Stock Split reduced the number of outstanding shares of Common Stock
of the Company as of July 12, 1995 from 30,853,352 to 560,970.

         The  annual  meeting of  shareholders  of the  Company  was held at the
offices of Corporate  Travel Link, Inc., 2401 Morris Avenue,  3rd Floor,  Union,
New Jersey,  07083,  on Tuesday,  July 16, 1996, at 9:30 a.m. At the meeting the
shareholders of the Company  approved an amendment to the Company's  Certificate
of Incorporation  to effect a one-for-two  reverse stock split pursuant to which
each two shares of the Company's new common stock  outstanding  as of the end of
business of June 25, 1996,  was replaced by one share of Common Stock of Genisys
Reservation  Systems,  Inc.  The  reverse  stock  split  reduced  the  number of
outstanding  shares of common  stock of the  Company as of June 25,  1996,  from
5,669,731 to 2,834,866.



                                                         4

<PAGE>



                                                      Part II


Item 5.  Market for the Registrant's Common Equity and Related Stockholder
Matters.

Market Information

         Prior to 1997, the Company's  Common Stock was eligible to trade in the
over-the  counter market,  however,  the Company was unable to locate any market
markers in its stock.  The Following  table indicates the quarterly high and low
bid prices for the last two years for the Company's  Common Stock,  which became
publicly traded on September 23, 1988:
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>


                                                          Bid Price                Bid Price
                                                              1996                   1995

                           Quarter Ended             High     Low               High    Low
                           March 31                  Not Available              Not Available
                           June 30                   Not Available              Not Available
                           September 30              Not Available              Not Available
                           December 31               Not Available              Not Available
</TABLE>

         The foregoing prices were provided by National Quotation Bureau.

         As of March 20, 1997, the Effective Date of the Company's  Registration
Statement, it's Common Stock, Class A Redeemable Warrants and Class B Redeemable
Warrants are quoted on the Nasdaq Small Cap Market.

         Approximate Number of Equity Security Holders
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                              Approximate Number of
                                                               Holders of Record as
                  Title of Class                                    of March 5, 1997
                  --------------                              ----------------------

                  Common Stock,
                  $.0001 par value                                     769

</TABLE>

         Included  in the number of  stockholders  of record are shares  held in
"nominee" or "street" name.

Dividends

         The Company has never paid any cash  dividends.  The Company  presently
intends to retain any future earnings for use in its operations and,  therefore,
does not expect to pay cash dividends in the foreseeable future.


Item 6.  Management's Discussion and Analysis of Financial Condition
             and Results of Operations.

Components of Revenues and Expenses Revenues.

    The Company is a development-stage  company and has
generated no revenues and has no

                                                         5

<PAGE>



commercial  operations  to date.  The Company did not generate any revenues from
operations  during the fiscal year ended  December  31,  1996.  The Company does
expect to bring its Genisys  Reservation and Payment Systems on-line through two
of the four CRS' in existence  (Sabre and  Worldspan) in mid 1997, at which time
the Company expects to generate  revenues.  The Company  anticipates  completing
development of and bringing a third CRS, Apollo,  on-line in late 1997, which it
expects to increase revenues.

         The  Company  anticipates  that its  Genisys  Reservation  and  Payment
Systems will  generate  revenue from the  following  sources:  (I) a booking fee
charged for use of the Genisys Reservation System and billed through the Genisys
Payment System, (ii) a processing fee generated by charges processed through the
Genisys  Payment System,  (iii) an annual software  licensing fee charged to the
limousine  service  providers  who utilize the Genisys  Reservation  and Payment
Systems.

Expenses.  Cost of service will include all costs directly  attributable  to the
Company's  provision  of services  to its  corporate  clients and the  limousine
service  providers.  The most  significant  component  of cost of service is the
booking fee  charged by the CRS for  reservations  made by the  Genisys  systems
utilizing  the  CRS.  Booking  fees  are a set  amount  charged  by each CRS for
transactions posted through the system. Cost of service also includes the access
and file fees charges by a  commercial  bank acting as the  Company's  Automated
Clearing  House in  distributing  payments made to limousine  service  providers
through the Genisys Payment System.

         General and administrative  expenses include salaries,  commissions and
benefits,  travel costs,  professional fees, rent, telephone and other operating
costs of the Company. The Company has not capitalized any internal  expenditures
with respect to the costs of developing and implementing the Genisys Reservation
and Payment Systems.

Results of Operations

         The Company is in the  development  stage and has not yet generated any
revenues  and has no  commercial  operations  to  date.  The  Company  has  been
unprofitable  since inception and expects to incur  additional  operating losses
over the next several fiscal  quarters.  The Company does not expect to generate
any revenues from  operations  until mid 1997. As reflected in the  accompanying
financial statements,  the Company has incurred losses totaling $1,645,003 since
inception and at December 31, 1996, had a working capital deficit of $600,043.

         Selling, general and administrative expenses were $819,205 for the year
ended  December  31, 1996 as compared to $256,621  for the year ended August 31,
1995.  The  primary  reason for the  difference  between  the two periods is the
commencement of operations during the earlier period when the Company had only 4
part-time  employees for approximately half the period,  while during the latter
period the  Company was  operational  with 5  full-time  employees.  Payroll and
payroll-related  costs  increased  approximately  $250,000  during  1996.  Other
approximate  cost increases  during the 1996 period  consist of consulting  fees
($54,000),   travel  costs   ($23,000),   marketing   costs   ($16,000),   other
administrative  costs ($83,000) and professional  fees ($136,000).  Professional
and consulting fees for the year ended December 31, 1996, totaled $237,000. Such
amount  consisted  of  attorneys  fees of $84,000,  accounting  fees of $42,000,
accrued consulting fees of $36,000 payable to Loeb partners,  $48,000 payable to
John H. Wasko  (accrued  prior to his  becoming  an  employee  of the  Company),
$16,000 in consulting  fees payable to Mark A. Kenny and  miscellaneous  fees of
$11,000. Loeb partners, Mr. Kenny and Mr. Wasko are affiliates of the Company.


Liquidity and Capital Resources

         The Company's  funds have  principally  been provided from Loeb Holding
Corporation,  as escrow agent ("Loeb"),  for Warren D.  Bagatelle,  HSB Capital,
trusts  for  the  benefit  of  families  of  two   principals  of  Loeb  Holding
Corporation,   and  three   unaffiliated   individuals,   LTI  Ventures  Leasing
Corporation and a private offering,

                                                         6

<PAGE>



as described below.

         In  February  1995,  Loeb agreed to loan the Company up to a maximum of
$500,000 as  evidenced  by  Convertible  Notes.  In  addition,  pursuant to five
interim loan  agreements,  Loeb loaned the Company an  additional  $250,000 from
December 1995 through March 1996.  In November and December  1996,  Loeb Holding
Corporation  loaned the Company $210,000 evidenced by a series of eighteen month
term  Promissory  Notes bearing  interest at the annual rate of 10%.  Total loan
proceeds from Loeb and Loeb Holding Corporation to date are $960,000.

         In September 1995,  January 1996 and December 1996, the Company entered
into sale and  lease-back  arrangements  with LTI Ventures  Leasing Corp.  (LTI)
whereby the Company  sold the bulk of its  computer  hardware  and  commercially
purchased  software to LTI. In consideration for the sales, the Company received
a total of  $295,000  and agreed to lease back the  hardware  and  software  for
varying terms at a monthly rental totaling $11,960.

         During the quarter ended March 31, 1996,  the Company sold 5,000 shares
of the Company's restricted Common Stock to a former officer and the director of
the Company for $10,000.  During the same  period,  the Company also sold 25,000
shares  of the  Company's  restricted  Common  Stock to an  unrelated  party for
$50,000.

         Pursuant  to a private  offering,  the  Company  issued  11.5  units to
sixteen  unaffiliated  third  parties in May and June 1996.  Each  $50,000  unit
consists of a $49,000 promissory note and a Class A Redeemable Warrant valued at
$1,000 per unit. Each such warrant entitles the holder to purchase 25,000 shares
of the  Company's  Common  Stock at $5.75  per  share.  The  proceeds  from this
offering  totaled  $575,000 and Class A Redeemable  Warrants to purchase 287,500
shares of Common Stock were issued by the Company.

         In April and June 1996,  the Company  borrowed a total of $30,000  from
two unaffiliated  third parties pursuant to two convertible  notes. The maturity
date is the earlier of January 1, 1998, or the consummation of a public offering
of the  Company's  Common  Stock.  These notes bear interest at a rate of 7% per
annum,  payable on the last day of each calendar quarter of each year commencing
March 31, 1997, to the maturity  date. If the maturity date of these notes shall
occur prior to January 1, 1998, in lieu of the $30,000  payment of the principal
amount due, the principal  amount due shall be converted  into 15,000 fully paid
and non-assessable shares of Common Stock of the Company.

         In November  1996,  the Company  sold  25,000  shares of the  Company's
restricted Common Stock to an unaffiliated party for $50,000.

         At  December  31,  1996,  the Company had cash of $91,548 and a working
capital  deficit of ($600,043).  The Company  intends to fund its operations and
other capital needs for the next twelve (12) months  substantially from revenues
generated by the Company's  planned  operations and the proceeds from its public
offering of stock.

         During the quarters  ended  September 30, 1996,  and December 31, 1996,
Joseph  Cutrona,  President of the Company,  made capital  contributions  to the
Company in the amounts of $41,700 and $35,000  respectively.  In February  1997,
Mr. Cutrona made additional capital contributions totaling $19,700.

         In  February  and March 1997,  the Company  borrowed a total of $65,000
from three  unaffiliated  third  parties  pursuant to three  eighteen (18) month
Promissory  Notes bearing  interest at 10% per annum payable at maturity.  These
notes are secured by 16,250  shares of the  Company's  restricted  Common  Stock
owned by Joseph Cutrona and 16,250 shares owned by Mark A. Kenny.

         On March 26, 1997,  the Company  consummated  a public  offering of its
securities  consisting  of 1,035,000  shares of Common Stock at $5.00 per share,
1,725,000 Class A Redeemable Warrants at $.20 per

                                                         7

<PAGE>



Class A Redeemable Warrant and 1,035,000 Class B Redeemable Warrants at $.10 per
Class  B  Redeemable  Warrant.   The  Net  proceeds  of  such  offering  totaled
$4,657,445.

         Inflation is not expected to have any material effect on the Company.

Item 7.  Financial Statements and Supplementary Data.

         See Pages F-1 through F-16.

Item 8.  Changes In and Disagreements with Accountants on Accounting and
Financial Disclosures

         Not applicable

                                                         8

<PAGE>



                                                     PART III

Item 9.  Directors and Executive Officers of the Registrant

         The following table sets forth certain information with respect to each
of the Company's directors and executive officers.
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                           NAME                      AGE               POSITION

                           Joseph Cutrona            59                President and Director

                           John H. Wasko             58                Chief Financial Officer,
                                                                       Secretary, Treasurer
                                                                       and Director

                           Mark A. Kenny             44                Director

                           Warren D. Bagatelle       58                Chairman and Chief Executive Officer
</TABLE>

         The Company's Executive Committee is empowered to exercise the full
authority of the Board of Directors in  circumstances  when  convening  the full
Board is not practicable. Messrs. Warren D. Bagatelle, John H. Wasko, and Joseph
Cutrona  currently serve as members.  All officers of the Company other than Mr.
Bagatelle devote their full time to the Company's business.

         Joseph  Cutrona has served the Company as  President  and as a Director
since August 1995,  and has served as President and as a Director of Travel Link
since its  inception  on March 11,  1994.  From 1992 to 1995,  Mr.  Cutrona  was
engaged as a  marketing  consultant  of Country  Club  Transportation  Services,
Newark, New Jersey, a company providing limousine  services.  From 1990 to 1992,
he served as Marketing Director of Gem Limousine, Edison, New Jersey, a provider
of  limousine  servies.  From  1978 to  1990,  Mr.  Cutrona  provided  limousine
consulting  services to large  corporations  in the tri-state  area. Mr. Cutrona
graduated from Fairleigh  Dickinson  University,  the University of Maryland and
Sophia University, Osaka Japan.

         John H. Wasko has served the Company as a Director  since  August 1995,
as Secretary since September 1995, and as Treasurer and Chief Financial  Officer
since  April  1996.  Mr.  Wasko has also  served the  Company as  President  and
Chairman of the Board since its inception to August 1995,  and as Treasurer from
April 1986 to  September  1987 and from May 1988 to August  1995.  Mr. Wasko has
also served as Chairman of the Board, President and Director of JEC since it was
organized  in  September  1977.  He was awarded a bachelor of science  degree in
physics in 1963 and a master of science  degree in physics  (summa cum laude) in
1965 from Fairleigh Dickinson University.

         Mark A. Kenny,  currently a consultant  to the  Company,  served as the
Company's  Executive  Vice  President  from August 1995 to October 1996 and as a
Director  since August 1995. He has also served as Executive  Vice  President of
Travel Link from inception,  March 1974 to November 1996 and as a Director since
inception.  From  1974 to  November  1996,  he was a  partner  of  Country  Club
Transportation  Services, a provider of limousine services,  which he co-founded
in 1974.  Mr.  Kenny is one of the original  members of the New Jersey  Business
Travel  Association  and attended Seton Hall  Preparatory  School and Seton Hall
University.  He is  also  a  member  of  the  Association  of  Corporate  Travel
Executives and a charter member of the New Jersey Limousine Association.

         Warren D.  Bagatelle  has been a Director of the Company  since  August
1995, and Chairman of the Board of Directors of the Company and Chief  Executive
Officer since December 1996. Since 1988, he has been a Managing Director at Loeb
Partners  Corporation,  a New York City investment  banking firm and a member of
the New York and American Stock  Exchanges.  Mr. Bagatelle is also a director of
Energy Research

                                                         9

<PAGE>



Corporation,  a company  engaged in the  development  and  commercialization  of
electrical  storage and power generation  equipment,  principally fuel cells and
rechargeable  storage  batteries.  From 1981 to 1987,  he was head of  Corporate
Finance  and  Chairman  of  Josephthal,   Lyon  &  Ross  Incorporated  (formerly
Rosenkrantz,  Lyon & Ross, Inc.) an investment banking firm. Mr. Bagatelle has a
B.A. in economics from Union College and an M.B.A. from Rutgers University.
Item 10.  Executive Compensation

         The  following  tabulation  shows  the total  compensation  paid by the
Company for services in all capacities  during the years ended December 31, 1996
and  1995,  and  August  31,  1995 to the  officers  of the  Company  and  total
compensation for all Officers as a group for such period:
<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                           Annual Compensation                                  Long Term Compensation

                                                                                Awards           Payout
                                                               Other                   Restricted         All
                                                               Annual                 StOptions  LTIP     Other
 Name and                  Year     Salary           Bonus    Compensation      Awards  /SAR's   Payout   Compensation
 --------                  ----     ------           -----    ------------      ------  ------   ------   ------------
Principal Position                                            (Mgmt. Fee)
------------------

Joseph Cutrona             1996      $73,500         $0       $  5,000                   0       0        0        0
President
                           1995     $45,000          $0       $  3,840                   0       0        0        0
                           1995     $28,000          $0       $  3,840                   0       0        0        0

Mark A. Kenny              1996     $42,000          $0       $16,250                    0       0        0        0

                           1995     $44,795          $0       $  3,840                   0       0        0        0

                           1995     $28,000          $0       $  3,840                   0       0        0        0

John H. Wasko              1996     $10,000          $0       $48,000                    0      0         0        0
Chief Financial Officer,
Secretary& Treasurer       1995     $0               $0       $  2,500                   0       0        0        0

                           1995     $0               $0       $  2,500                   0       0        0        0

Warren D. Bagatelle        1996     $0               $0       $36,000(1)                 0       0        0        0
Chief Executive Officer
                           1995     $0               $0       $0                         0       0        0        0

                           1995     $0               $0       $0                         0       0        0        0
</TABLE>

(1) Represents accrued but unpaid consulting fees to Loeb Partners Corporation
 of which Warren D. Bagatelle is Managing Director.


Item 11.  Security Ownership of Certain Beneficial Owners and Management

         The following  tabulation  shows the security  ownership as of December
31, 1996 of (I) each person known to the Company to be the  beneficial  owner of
more than 5% of the Company's  outstanding  Common Stock, (not including 333,216
shares  issued  to Steven  E.  Pollan  which  the  Company  has given  notice of
cancellation  as a  result  of  certain  disputes  between  Mr.  Pollan  and the
Company),  (ii) each Director and officer of the Company and (iii) all Directors
and Officers as a group.

                                                        10

<PAGE>

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>


                                                       NUMBER OF                                          PERCENT
NAME & ADDRESS                                       SHARES OWNED                                OF CLASS

Loeb Holding Corporation
As Escrow Agent (1)
61 Broadway
New York, NY 10006                                   1,242,183                                   37.86%

Warren D. Bagatelle  (2)
Loeb Partners Corporation
61 Broadway
New York, NY 10006                                   1,271,155                                   38.75%

Joseph Cutrona (5)
Genisys Reservation Systems
2401 Morris Avenue
Union, NJ 07083                                      611,133                                     18.63%

Mark A. Kenny (5)
10 Lisa Drive
Chatham, NJ 07928                                    646,133                                     19.70%

John H. Wasko  (3) (4)
Genisys Reservation Systems
2401 Morris Avenue
Union, NJ 07083                                      176,206                                     5.37%

All Officers and Directors
as a group (4 persons)                               2,704,627                                   82.44%

</TABLE>

         (1) Includes  842,183 shares of Common Stock  purchased by Loeb Holding
Corporation, as escrow agent for Warren D. Bagatelle,  Managing Director of Loeb
Partners Corp., HSB Capital (of which Warren Bagatelle is a partner), trusts for
the benefit of families of two principals of Loeb Holding  Corporation and three
unaffiliated  persons and 400,00 shares of Common Stock issuable upon conversion
of two Convertible Notes aggregating $37,500. Loeb Holding Corporation disclaims
any beneficial interest in these shares.

         (2) Includes  842,183 shares of Common Stock  purchased by Loeb Holding
Corporation, as escrow agent for Warren D. Bagatelle,  Managing Director of Loeb
Partners Corp., HSB Capital (of which Warren Bagatelle is a partner), trusts for
the benefit of families of two principals of Loeb Holding  Corporation and three
unaffiliated individuals;  6,739 shares of Common Stock owned directly by Warren
D. Bagatelle; 2,233 shares of Common Stock owned directly by HSB Capital; 20,000
shares of Common Stock pledged by Joseph Cutrona to Warren Bagatelle as security
and 400,000 shares of Common Stock issuable upon  conversion of two  Convertible
Notes aggregating $37,500.

         (3) Includes  29,383  shares of Common Stock owned of record by Joan E.
Wasko, John Wasko's wife, of which Mr. Wasko disclaims beneficial ownership, but
of which he may be deemed beneficial owner.

         (4) Includes a five (5) year option to purchase 25,000 shares of Common
Stock at a price of $0.60 per  share  granted  to Mr.  Wasko by the  Company  on
August  11,  1995,  a five (5) year  option  to  purchase  35,000  shares of the
Company's Common Stock at a price of $2.00 per share granted to Mr. Wasko by the
Company on  November  1, 1996 and 5,333  shares of Common  Stock  issuable  upon
conversion of two

                                                        11

<PAGE>



Convertible Notes aggregating $37,500.

         (5)      Does not give effect to 14,533 shares of Common Stock to be
transferred to Prosoft, Inc. Upon completion of the Genisys Payment System.

Messrs.  Cutrona and Kenny may be deemed to be "parents" and  "promoters" of the
Company,  as those  terms  are  defined  in the  rules  and  regulations  of the
Securities Act of 1933, as amended.  In August 1994 and February  1995,  Messrs.
Cutrona and Kenny each  received  their Common Stock in the Company for services
to be provided to the Company. For accounting purposes the value of these shares
was recorded at $7,840 for each individual. Mr. Pollan received his Common Stock
in August 1994 for services to have been  provided to the Company.  See "Certain
Transactions."


Item 12.  Certain Relationships and Related Transactions

         In August 1994,  Joseph Cutrona and Mark A. Kenny each received a total
of 666,433  shares of the Company's  common stock for services to be provided to
the Company.

         During  February  1995,  the Company issued 45,765 shares of its Common
Stock in repayment of certain liabilities  totaling $251,702.  Those liabilities
include notes payable to Saddle Brook  Investors of $149,633,  note payable plus
accrued  interest  to an officer and  Director  of $34,273 and certain  accounts
payable of $67,796.

         In February 1995, Loeb Holding  Corporation,  as escrow agent ("Loeb"),
for Warren D. Bagatelle,  HSB Capital, trusts for the benefit of families of two
principals  of Loeb  Holding  Corporation  and three  unaffiliated  individuals,
agreed  to loan  the  Company  $500,000  evidenced  by a series  of  Convertible
Promissory  Notes. In September 1995, Loeb converted the Convertible  Promissory
Notes into 841,455 common shares of the Company and two Term  Promissory  Notes,
one in the principal amount of $475,000 and the other in the principal amount of
$25,000.

         The  principal  amount of the $475,000  Term  Promissory  Note is to be
repaid in twelve equal quarterly payments commencing September 1997. Prepayments
may be made at any time without penalty. Interest is accrued at a rate of 9% per
annum and interest  payments are to be made quarterly at the end of each of each
calendar quarter,  or at such earlier date that the Term Promissory Note becomes
due and payable as a result of acceleration, prepayment or as otherwise provided
therein.  Interest  began to run from the date that the monies were  advanced to
the Company.

         The Term  Promissory  Note in the amount of $25,000  and an  additional
Note in the amount of $12,500  issued in December 1995 and discussed  below have
been  modified.  Such Notes  provide for accrued  interest at the rate of 9% per
annum  payable  quarterly   commencing  September  1997  and  unless  previously
converted  the  principal  amount of each  note is to be repaid in twelve  equal
quarterly  installments,  commencing  April 1, 1998,  or on such earlier date as
such notes provide.  The notes are  convertible at the sole option of the holder
into an aggregate of 400,000 common shares of the Company.

         During March 1995, John H. Wasko,  then President of the Company,  upon
exercise  of his  option,  acquired  70,520  shares of the  Common  Stock of the
Company at an exercise price of $0.02145 per share.

         On March 3, 1995,  the  Company  and JEC  signed a  purchase  agreement
whereby JEC acquired all of the assets,  rights and  properties  relating to the
Company's CO2 laser  research and  development  agreement  with LCL,  subject to
certain   liabilities,   in  full  consideration  for  the  forgiveness  of  the
indebtedness of the Company to JEC in the amount of $345,593 owed as of February
28, 1995.

         On August 11, 1995, Robotic Lasers acquired Corporate Travel Link,
Inc. by issuing 1,682,924 shares

                                                        12

<PAGE>



of restricted  New Common Stock of the Company in exchange for the shares of the
common stock of Corporate Travel Link owned by Joseph Cutrona, Mark A. Kenny and
Steven E. Pollan which  represented all the  authorized,  issued and outstanding
shares of common stock of Corporate Travel Link.

         In August 1995, the Company granted Mr. Wasko a five (5) year option to
purchase  25,000  shares  of  Common  stock at a price of $0.60 per share and in
November  1996,  granted Mr.  Wasko a five (5) year  option to  purchase  35,000
shares of Common Stock at a price of $2.00 per share.

         On September 5, 1995, the Company  entered into a three year consulting
and investment banking agreement with Loeb Partners Corporation. Under the terms
of the agreement,  the Company pays Loeb Partners  Corporation $3,000 per month.
Loeb  Partners  Corporation  will  also  receive  a fee  for  arranging  private
financing and acquisitions.  Mr. Warren D. Bagatelle, a Director and Chairman of
the Company, is a Managing Director of Loeb Partners Corporation.

         During  December  1995,  Loeb  agreed  to  loan  the  Company  $250,000
evidenced by a series of Convertible  Promissory Notes ("Convertible  Promissory
Notes"). In November 1996, Loeb converted the Convertible  Promissory Notes into
(I) two Term Promissory  Notes,  one in the principal amount of $237,500 and the
other in the principal  amount of $12,500  issued in December 1995 and discussed
below and (ii) 420,728  shares of Common Stock of the Company,  of which 420,000
shares of Common  Stock are owned by four  unaffiliated  parties.  Loeb  Holding
Corporation did not receive any shares of Common Stock in this transaction.

         The  principal  amount of the $237,500  Term  Promissory  Note is to be
repaid in twelve equal quarterly payments commencing December 1997.  Prepayments
may be made at any time without penalty. Interest is accrued at a rate of 9% per
annum and interest payments are to be made quarterly at the end of each calendar
quarter,  or at such earlier date that the Term  Promissory Note becomes due and
payable  as a  result  of  acceleration,  prepayment  or as  otherwise  provided
therein.  Interest  began to run from the date that the monies were  advanced to
the Company.

         In August  1996,  the  Company  gave  notice to Mr.  Pollan that it was
canceling  the 333,216  shares of Common  Stock which had been issued to him for
services to be provided by the Company. The reason for such cancellation related
to various  claims  made by the  Company  against  Mr.  Pollan that he failed to
provide  services to the  Company.  Mr.  Pollan has informed the Company that he
intends to legally contest any attempt by the Company to cancel his shares.

         During the quarters ended September 30, 1996, and December 31, 1996, in
order to raise  additional  working  capital for the  Company,  Joseph  Cutrona,
President of the Company,  sold a total of 37,600  shares of  restricted  common
stock of the Company  owned by him, to nineteen  unaffiliated  third  parties at
prices ranging from $2.00 to $2.50 per share for total proceeds of $76,500 which
Mr. Cutrona  remitted to the Company in the form of a capital  contribution.  In
February 1997, Mr. Cutrona sold an additional 9,850 shares of restricted  Common
Stock to 7  unaffiliated  third  parties at a price of $2.00 per share for total
proceeds of $19,700, which Mr. Cutrona remitted to the Company in the form of an
additional capital  contribution.  Mr. Mark A. Kenny has agreed to use 23,725 of
his own  shares of  restricted  common  stock of the  Company to  reimburse  Mr.
Cutrona for one-half of the number of shares recently sold by Mr.  Cutrona.  The
Company has agreed to issue an equal number of new shares of  restricted  Common
Stock to Messrs.  Cutrona  and Kenny in six equal  installments  if the  Company
meets certain performance criteria on six specified dates.

         On October 10, 1996,  the  Company,  Joseph  Cutrona,  President of the
Company, Mark A. Kenny and Prosoft, Inc. Signed an agreement whereby Mr. Cutrona
and Mr. Kenny each agreed to transfer  14,533 shares of restricted  Common Stock
owned by them to Prosoft, Inc., or its designees,  upon completion of the design
and  satisfactory  development of the Genisys Payment System.  Prosoft agreed to
accept  the  29,066  shares  valued  at  $3.75  per  share  in  satisfaction  of
$108,997.50 which would be owned to Prosoft, Inc. by the Company upon completion
of the Genisys Payment System.


                                                        13

<PAGE>



         In October and November  1996, and February 1997,  Joseph  Cutrona,  in
recognition  of  extensive  valuable  services  rendered to the Company by three
employees of the Company,  made gifts  aggregating  35,000  shares of restricted
Common  Stock  owned by him to the three  employees,  including a gift of 20,000
shares of restricted Common Stock to John H. Wasko.

         During  November  and  December  1996,  the  Company  and Loeb  Holding
Corporation  signed four  eighteen  (18) month  Promissory  Notes  whereby  Loeb
Holding Corporation loaned the Company the sums of $75,000, $30,000, $10,000 and
$95,000  (totaling  $210,000).  The Promissory Notes which bear interest at 10%,
mature on May 11, 1998, May 25, 1998, June 2, 1998, and June 9, 1998.

         The Company  believes that each of these  transactions was entered into
on terms at least a favorable  to the Company as could have been  obtained  from
unaffiliated third parties.


Item 13.  Exhibits, Financial Statement Schedules and Reports on Form 8-k

(a)      (1)      Financial Statements
                  Included in Part II of this report:

                  Balance Sheets - December 31, 1996 and 1995.

                  Statements of Operations  During the  Development  Stage - For
                  the Period from  Inception  through  December 31, 1996 and the
                  Years Ended December 31, 1996 and August 31, 1995, and for the
                  four months ended December 31, 1995.

                  Statements  of  Cash  Flows - For the  Period  from  Inception
                  through December 31, 1996 and for the Years Ended December 31,
                  1996  and  August  31,  1995,  and for the four  months  ended
                  December 31, 1995.

                  Statement of Changes in  Stockholders'  Equity - For the Years
                  Ended  December 31, 1996 and August 31, 1995, and for the four
                  months ended December 31, 1995.

                  Notes to Financial Statements

         (2)      Financial Statements Schedules
                  There are no schedules  which are applicable or required to be
                  filed for the three years ended December 31, 1996 and 1995 and
                  August 31, 1995 and for the four  months  ended  December  31,
                  1995.

         (3)      Exhibits

          3.1      Registrant's Articles of Incorporation
          3.2      Registrant's By-Laws
          4.1      Form of Common Stock Certificate
          4.2      Redeemable Warrant Agreement with Form of Class A and
                   Class B Warrant
         10.1      Employment Agreement dated October 17, 1996  between
                   Registrant and Joseph Cutrona.
         10.2      Consulting Agreement dated October 18, 1996 between the
                   Registrant and Mark A. Kenny.
         10.3      Employment Agreeement dated October 17, 1996  between
                   Registrant and John Wasko.
         10.4      Copy of lease dated November 1, 1995 between Unicom  and
                   Corporate Travel Link, Inc.
         10.5      Copy of Agreement dated June 22, 1995 between  American
                   Airlines, Inc., and Corporate Travel  Link,  Inc.,
                   relating  to Sabre  Extension  Program -  Associate
                   Distribution and Services Agreement.

                                                        14

<PAGE>



         10.6     Copy of Agreement dated June 30, 1995 between  American
                  Airlines, Inc. and Corporate Travel Link,  Inc., relating to
                  Associate Sabre Equipment Lease Agreement.
         10.7     Copy of Agreement dated June 30, 1995 between  American
                  Airlines, Inc., and Corporate Travel Link, Inc.- non-standard
                  system amendment to Corporate Sabre Equipment Lease Agreement.
         10.8     Copy of Script Consulting Agreement dated June 21, 1995
                  between Worldspan, LP and Corporate Travel  Link, Inc.
         10.9     Copy of Script Services agreement dated June 21, 1995 between
                  Worldspan, LP and Corporate  Travel  Link, Inc.
         10.10    Copy of Galileo  Services  Display and  Reservation  Agreement
                  dated   August  28,   1995   between   Galileo   International
                  Partnership and Corporate Travel Link, Inc.
         10.11    Copy of  Ancillary  Services  Agreement  dated August 28, 1995
                  between Galileo International Partnership and Corporate Travel
                  Link, Inc.
         10.12    Copy of Worldspan Car Rental Associate Reservation  Agreement
                  between Worldspan, LP and Corporate  Travel Link, Inc.

         10.13    Copy of Interim Loan Agreement between the Registrant and Loeb
                  Holding Corporation and certain executives of the Registrant.
         10.14        Prosoft Consulting Agreement
         21        List of Subsidiaries


All of the  above-referenced  documents,  with the  exception of the Rule 424(b)
Prospectus, are incorporated herein by reference to the Exhibit bearing the same
number  in the  Registrant's  Registration  Statement  on Form  SB-2,  File  No.
333-15011.



(b)      (1)      Reports on Form 8-K
                  The  following  report  relating  to  the  fiscal  year  ended
December 31, 1996 was filed:
                  None

                                                        14

<PAGE>


SIGNATURES

                  Pursuant  to  requirements  of  Section  13 or  15(d)  of  the
Securities  Act of 1934,  the  Registrant has duly caused this Annual Report and
any subsequent amendments thereto to be singed on its behalf by the undersigned,
thereunto duly authorized.


March 31, 1997

                        GENISYS RESERVATION SYSTEMS, INC.
                         (formerly Robotic Lasers, Inc.)


                                            /s/  Joseph Cutrona
                                            President and Chairman



         Pursuant to the requirements of the Securities Act of 1934, this Report
has been signed below by the following  persons in their  respective  capacities
with the Registrant and on the dates indicated.


                                            /s/ John H. Wasko
                                            John H. Wasko
                                            Secretary, Treasurer and
                                            Principal Financial Officer



<PAGE>