UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 AMENDMENT NO. 1
                                       on
                                   FORM 10-KSB

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

[X]   ANNUAL REPORT  PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
      ACT OF 1934 (Fee Required) for the fiscal year ended December 31, 1997

                                       OR

[_]   TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR 15(d)  OF THE  SECURITIES
      EXCHANGE  ACT OF 1934 (No Fee  Required)  for the  transition  period from
      ___________ to ___________

                         Commission File Number 1-10751

                             OBJECTSOFT CORPORATION
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                                             No. 22-3091075
-------------------------------                              -------------------
(State or other jurisdiction of                               (I.R.S. employer
 incorporation or organization)                              identification no.)

Continental Plaza III, 433 Hackensack Ave., Hackensack, NJ               07601
----------------------------------------------------------            ----------
      (Address of principal executive offices)                        (Zip Code)

       Registrant's telephone number, including area code: (201) 343-9100
                          


        Securities registered pursuant to section 12(b) of the Act: None

           Securities registered pursuant to section 12(g) of the Act:

     Title of each class               Name of each exchange on which registered
     -------------------               -----------------------------------------
Common Stock, $.0001 par value                              None
Class A Redeemable Warrants                                 None

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  Exchange  Act  during the past 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 [_]

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will 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-KSB or any
amendment to this Form 10-KSB. [X]

State the  aggregate  market  value of the voting  stock held by  non-affiliates
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 the past 60
days.
                                                                As of the Close
          Title of Class            Aggregate Market Value      of Business on
          --------------            ----------------------      --------------
Common Stock, $.0001 par value           $6,867,213.75           March 25, 1998

Indicate the number of shares outstanding of each of the registrant's classes of
common stock, as of the latest practicable date.

                                                                As of the Close
          Title of Class            Shares Outstanding          of Business on
          --------------            ------------------          --------------
Common Stock, $.0001 par value            4,082,676              March 25, 1998


Transitional Small Business Disclosure Format (check one):  YES [_]     NO [X]

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None


<PAGE>



PART I

ITEM 3.  LEGAL PROCEEDINGS

           On January 15, 1998, Infusion Capital Partners,  LLC ("Infusion"),  a
firm  that  was  engaged  to  seek  financing  opportunities  for  the  Company,
instituted a lawsuit for alleged breach of contract,  indemnification  and legal
fees  against  the  Company by filing a praecipe to issue writ of summons in the
Court of Common Pleas,  Philadelphia  County. On March 3, 1998, Infusion filed a
complaint  against the Company  asserting claims for breach of contract,  fraud,
unjust enrichment,  promissory estoppel and equitable estoppel.  Infusion sought
on all claims  compensatory  damages allegedly in excess of $50,000,  reasonable
attorneys fees and costs, an accounting, and a disgorgement of fees and profits,
and on its fraud claim Infusion  additionally  sought punitive damages in excess
of $50,000.  The parties  settled the lawsuit on April 23, 1998 by the Company's
payment of $10,000 to  Infusion  and the  Company's  provision  to Infusion of a
warrant to purchase  37,500  shares of common stock (the "Common  Stock") of the
Company, par value $.0001 per share,  exercisable for three years from April 23,
1998 at $4.87 per share.

PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
WITH SECTION 16(A) OF THE EXCHANGE ACT

           The executive officers and directors of the Company are as follows:


NAME                        AGE            POSITION
----                        ---            --------
David E. Y. Sarna1          48             Chairman, Secretary and Director
George J. Febish(1)         49             President, Treasurer and Director
Daniel E. Ryan(1)(2)(3)(4)  50             Director
Gunther L. Less(2)(4)       67             Director

----------------
1 Member of Executive Committee.
2 Member of Audit Committee.
3 Member of Compensation Committee.
4 Member of Stock Option Plan Committee

           David E. Y. Sarna  together  with Mr.  Febish  founded the Company in
1990. Mr. Sarna has been the Chairman,  Co- Chief Executive  Officer,  Secretary
and a director of the Company since December 1990. He has also been, since 1994,
a Contributing Editor of Datamation magazine.  Prior to co-founding the Company,
Mr. Sarna  founded  Image  Business  Systems  Corporation,  a computer  software
development   company,  in  1988.  Prior  to  founding  Image  Business  Systems
Corporation, Mr. Sarna was formerly Executive Vice-President and a co-founder of
International Systems Services Corp., a computer software company that developed
ISS Three(TM).  From 1976 to 1981, Mr. Sarna was employed by Price  Waterhouse &
Co., as a management consultant,  beginning as a senior consultant and rising to
the position of senior manager.  From 1970 to 1976 Mr. Sarna was employed by IBM
Corporation in technical and sales  positions.  Mr. Sarna began his professional
career  at  Honeywell  in  1968.  Mr.  Sarna  holds a BA  degree  from  Brandeis
University  and  did  graduate  work  at the  Technion  -  Israel  Institute  of
Technology.  Mr.  Sarna is a  Certified  Systems  Professional  and a  Certified
Computer  Programmer.  He is the  co-author,  with Mr.  Febish,  of PC  Magazine
Windows Rapid Application  Development (published by Ziff- Davis Press in 1994),
several other books and over 50 articles  published in  professional  magazines.
Mr. Sarna is also the  co-inventor of patented  software for the  recognition of
bar-codes.

           George J. Febish together with Mr. Sarna founded the Company in 1990.
Mr. Febish has been the President,  Co-Chief Executive Officer,  Treasurer and a
director of the Company since  December  1990.  He has also been,  since 1994, a
Contributing  Editor of Datamation  magazine.  Prior to co-founding the Company,
Mr. Febish was Executive  Vice  President and Chief  Operating  Officer of Image
Business Systems Corporation, a computer software development company, from 1988
to 1990. Prior to joining Image Business Systems Corporation, Mr. Febish was the
Director of Marketing at ISS, a computer  software  company that  developed  ISS
Three(TM).  Prior to joining  ISS,  Mr.  Febish was the Eastern  Regional  Sales
Manager for Bool & Babbage.  In 1970, Mr. Febish began his  professional  career
with New York Life  Insurance  Company.  Mr. Febish holds a BS degree from Seton
Hall  University.  He is the co-author,  with Mr. Sarna, of PC Magazine  Windows
Rapid Application Development and the author of numerous published articles.



                                        2

<PAGE>



           Daniel E. Ryan has been a  director  since  1991.  Mr.  Ryan has been
employed by New York Life Insurance Company since July, 1965 where,  since 1981,
he has held the title of Corporate Vice  President.  Mr. Ryan is the head of the
Service  Center  Development of New York Life  Insurance  Company's  Information
Systems  organization.  Mr.  Ryan holds an MBA in Computer  Science  from Baruch
College and a BS/BA in Industrial Management from Manhattan College. Mr. Ryan is
a Certified Systems Professional.

           Gunther L. Less has been a director  of the  Company  since  December
1996. Mr. Less owns and operates GLL TV Enterprises,  through which he has acted
as the producer and host of "Journey to  Adventure," a  travel-documentary  show
that has appeared in syndication on broadcast and cable television  networks for
over 35  years.  He also  acts as a  special  media  consultant  to the  airline
industry and has held various  executive and consulting  positions in the travel
industry,  including  as an Agency  Manager for American  Express,  President of
Planned  Travel,  Inc., a  subsidiary  of Diners  Club,  Inc.,  System Sales and
Marketing Manager for Avis Rent-A-Car and  Manager-External  Affairs for Olympic
Airways and personal consultant to the late Aristotle Onassis, and consultant to
Hyatt  International  Corporation.  He is also a past  president of the American
Association of Travel Editors. Mr. Less is the designee of Renaissance Financial
Securities  Corporation  ("Renaissance"),   the  underwriter  of  the  Company's
securities  in the initial  public  offering  completed  in  November  1996 (the
"Public Offering").

           The  Company's  officers  are  elected  annually  and  serve  at  the
discretion of the Board of Directors for one year subject to any rights provided
in employment  agreements.  Certain  employment  agreements are described  below
under "Executive Compensation - Employment Agreements".

           Section 16(a) of the Securities  Exchange Act of 1934 (the "Act"), as
amended,  requires  the  Company's  Executive  Officers and  Directors,  and any
persons who own more than 10% of any class of the  Company's  equity  securities
which are  registered  under the Act to file certain  reports  relating to their
ownership of such  securities  and changes in such ownership with the Securities
and Exchange  Commission  and NASDAQ,  and to furnish the Company with copies of
such reports. To the Company's knowledge,  all Section 16(a) filing requirements
applicable to such  Officers,  Directors and owners of over 10% of the Company's
equity  securities  registered under the Act, during the year ended December 31,
1997, have been satisfied.

MEETINGS AND COMMITTEES OF THE BOARD OF DIRECTORS

           During  the  fiscal  year  ended  December  31,  1997,  the  Board of
Directors held two meetings and took certain actions on seven other occasions by
written consent. During such year, no director attended fewer than 75 percent of
the  aggregate  of (i) the number of  meetings  of the Board of  Directors  held
during  the period he served on the Board,  and (ii) the number of  meetings  of
committees  of the Board of  Directors  held during the period he served on such
committees.

           The Stock Option  Committee was composed of Mr.  Daniel E. Ryan.  The
function of this committee is to administer the Company's 1996 Stock Option Plan
(the "1996 Plan"). The Stock Option Committee met once during fiscal 1997.

           The  Compensation  Committee,  composed  of Mr.  Daniel E. Ryan,  has
authority over the salaries,  bonuses and other compensation arrangements of the
executive  officers of the  Company,  and it also has the  authority to examine,
administer  and make  recommendations  to the Board of Directors with respect to
benefit  plans and  arrangements  (other than the stock  option  plans which are
administered  by the Stock Option  Committee) of the Company.  The  Compensation
Committee met twice during fiscal 1997.

           From January 1, 1997  through  March 22,  1997,  the Audit  Committee
during fiscal 1997 was composed of Mr. Daniel E. Ryan and Mr. Julius Goldfinger.
On March 22, 1997 Mr. Goldfinger  resigned as a member of the Board of Directors
and of the Audit  Committee.  Until February 19, 1998 there was a vacancy on the
Audit Committee, and at which time Mr. Gunther L. Less was appointed as a member
of  the  Audit  Committee.   The  Audit  Committee's  function  is  to  nominate
independent  auditors,  subject to  approval by the Board of  Directors,  and to
examine and consider matters related to the audit of the Company's accounts, the
financial  affairs and  accounts of the  Company,  the scope of the  independent
auditors'  engagement  and  their  compensation,  the  effect  on the  Company's
financial  statements of any proposed changes in generally  accepted  accounting
principles,  disagreements,  if any, between the Company's  independent auditors
and  management,  and matters of concern to the independent  auditors  resulting
from the audit,  including the results of the  independent  auditors'  review of
internal accounting controls. The Audit Committee met once during fiscal 1997.

           The Board of Directors has no standing nominating committee.


                                        3

<PAGE>



NON-EMPLOYEE DIRECTORS' COMPENSATION

           Until March 1996,  non-employee  directors of the Company received no
compensation  for  attendance  at Board  meetings or  committee  meetings of the
Board;  however,  each  non-employee  director was reimbursed for  out-of-pocket
expenses  incurred in  connection  with  attendance at meetings or other Company
business.

           In March 1996 the Board of Directors  adopted the 1996 Plan  pursuant
to which each non-employee director of the Company on the date the 1996 Plan was
approved by  Stockholders,  was granted an option to purchase  10,000  shares of
Common  Stock.  Thereafter  when  each  non-employee  director  first  becomes a
director,  such  individual  is granted an option to purchase  10,000  shares of
Common  Stock.  In  addition,  immediately  following  each  Annual  Meeting  of
Stockholders at which directors are elected,  each non-employee  director of the
Company and is then a director  is granted an option to  purchase an  additional
5,000 shares of Common Stock (the "Formula Grants").  The exercise price of each
share of Common Stock under any option granted to a non-employee  director under
the 1996 Plan shall be equal to the fair market value of a share of Common Stock
subject to such option on the date of the grant.

           During the fiscal year ended December 1997,  Gunther L. Less received
an option to purchase 10,000 shares of Common Stock at a purchase price of $5.25
upon  becoming a  non-employee  director on January 1, 1997.  Following the 1997
Annual Meeting of Stockholders on May 14, 1997, Daniel E. Ryan and Mr. Less each
received as a Formula  Grant an option to purchase  5,000 shares of Common Stock
at a purchase price of $5.25.

ITEM 10.  EXECUTIVE COMPENSATION

           The  following  table sets forth  information  concerning  annual and
long-term compensation, paid or accrued, for the Chief Executive Officer and for
each other executive officer of the Company whose compensation exceeded $100,000
in fiscal 1997 (the "Named  Executive  Officers") for services in all capacities
to the Company during the last three fiscal years.

                         SUMMARY COMPENSATION TABLE (1)


<TABLE>
<CAPTION>
                                       Annual Compensation
                                  -----------------------------
                                                                   Long-Term   
                                                                  Compensation 
                                                       Other       Awards(1)   
Name and                                               Annual      Securities  
Principal                                             Compen-      Underlying     All Other
Position                          Year   Salary(2)   sation (3)   Options/SARs  Compensation
--------                          ----   ------      ----------   ------------  ------------
<S>                               <C>    <C>                         <C>               
David E.Y. Sarna, Chairman,       1997   $208,000        --          50,000          --
Secretary and Co-Chief            1996   $208,000        --          50,000          --
Executive Officer                 1995   $200,000        --            --            --


George J. Febish, President,      1997   $208,000        --          50,000          --
Treasurer and Co-Chief            1996   $208,000        --          50,000          --
Executive Officer                 1995   $200,000        --            --            --
</TABLE>

----------------

(1)   None of the Named Executive  Officers received any Restricted Stock Awards
      or LTIP Payouts in 1995, 1996 or 1997.

(2)   Includes  $107,220 that was accrued but not paid to each of Messrs.  Sarna
      and Febish in 1995. At December 31, 1995, the total amount of compensation
      accrued  but not paid to each of Messrs.  Sarna and Febish,  inclusive  of
      prior years, was $195,844.  Such amounts were  subsequently  paid in full,
      with  $100,000 and $50,000  paid to each of Messrs.  Sarna and Febish from
      the proceeds of a bridge loan offering of notes and warrants  completed in
      June 1996 and an offering of units of Common Stock and warrants  completed
      in  August  1996,  respectively,  and  the  balance  paid  from  operating
      revenues.



                                        4

<PAGE>



(3)   As to each individual  named, the aggregate  amounts of personal  benefits
      not included in the Summary Compensation Table do not exceed the lesser of
      either  $50,000 or 10% of the total annual  salary and bonus  reported for
      the Named Executive Officer.

STOCK OPTIONS

         There were no grants of stock  options  nor stock  appreciation  rights
("SARs") to the Named Executive Officers during fiscal 1997. There were no stock
option nor SAR  exercises  during  fiscal 1997 and no SARs were  outstanding  at
December 31, 1997.

EMPLOYMENT AGREEMENTS

         The Company entered into an employment  agreement with each of David E.
Y. Sarna and George J. Febish,  effective as of July 1, 1996,  which  expires on
December 31, 2001. The employment  agreements  each provide for a current annual
base salary of $208,000.  Each of the employment  agreements also provides for a
bonus of 5% per annum of the Company's Earnings Before  Depreciation,  Interest,
Taxes and Amortization.  In addition, on an annual basis, the Board of Directors
will  consider  paying an additional  bonus to each of Messrs.  Sarna and Febish
that is based upon the increase in the  Company's  gross  revenues,  taking into
account any increase in the Company's expenses. The annual base salary under the
current agreements may be increased at the discretion of the Board of Directors.
The agreements  provide for (i) a severance payment of the base compensation and
bonus  of the  prior  full  fiscal  year and  payment  of all  medical,  health,
disability and insurance  benefits then payable by the Company for the longer of
(a) the remainder of the term of the employment  agreement or (b) 12 months,  as
well as (ii) the base compensation and bonus accrued to the date of termination,
upon the  occurrence  of (x)  termination  by the  Company  without  cause,  (y)
termination  by the  employee  for good reason or (z) a change in control of the
Company,  if the employee  resigns  after the  occurrence  of the such change in
control.  Each of the employment  agreements limit the severance  payments to an
amount  that is less than the amount  that would  cause an excise tax or loss of
deduction  under the rules  relating  to golden  parachutes  under the  Internal
Revenue Code.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

         The following table sets forth, as of April 7, 1998,  information  with
respect to the  beneficial  ownership of the Company's  Common Stock by (i) each
person known by the Company to beneficially  own more than 5% of the outstanding
shares of Common  Stock,  (ii) each  director of the Company,  (iii) each of the
Named Executive Officers (as such term is herein defined) and (iv) all directors
and executive officers of the Company as a group.



                                        Number of Shares of
Name and                                Common Stock
Address of                              Beneficially            Percentage
Beneficial Owners(1)                    Owned(2)                Ownership(3)
--------------------                    --------                ------------

David E. Y. Sarna (4) (5)                  792,500               18.95%

George J. Febish (4) (6)                   907,500                21.7%

Melvin Weinberg, Esq. (7)                  300,000                7.35%
c/o Parker Chapin Flattau &
Klimpl, LLP
1211 Avenue of the Americas
New York, New York  10036

Daniel E. Ryan (8)                          15,000                 *

Gunther L. Less (8)                         15,000                 *

All officers and directors as            1,730,000               40.11%
a group (4 persons) (3)(9)
-----------

*    Less than 1%.




                                        5

<PAGE>




(1)   Unless otherwise  indicated,  the business address of each of the officers
      and directors is c/o ObjectSoft  Corporation,  Continental  Plaza III, 433
      Hackensack Avenue, Hackensack, New Jersey 07601.

(2)   Unless  otherwise  noted, the Company believes that all persons named have
      sole  voting and  investment  power  with  respect to all shares of Common
      Stock listed as owned by them.

(3)   Each person's percentage interest is determined assuming that all options,
      warrants and convertible  securities that are held by such person (but not
      by anyone else) and which are  exercisable or  convertible  within 60 days
      have been exercised for or converted into Common Stock.

(4)   Includes,  for each of Messrs. Sarna and Febish,  immediately  exercisable
      warrants  to  purchase  50,000  shares  of Common  Stock  and  immediately
      exercisable  options to purchase  50,000  shares of Common  Stock  granted
      under the Company's 1996 Plan.

(5)   Includes 150,000 shares held by The David E. Y. Sarna Family Trust ("Sarna
      Trust"),  of  which  Rachel  Sarna,  the  wife of Mr.  Sarna,  and  Melvin
      Weinberg,  Esq. are the trustees.  The children of Mr. and Mrs.  Sarna are
      the sole beneficiaries.  Mr. Sarna disclaims  beneficial  ownership of the
      shares held by the Sarna Trust.

(6)   Includes 150,000 shares held by The George J. Febish Family Trust ("Febish
      Trust"),  of which  Janis  Febish,  the  wife of Mr.  Febish,  and  Melvin
      Weinberg,  Esq. are the trustees.  The children of Mr. and Mrs. Febish are
      the sole beneficiaries.  Mr. Febish disclaims  beneficial ownership of the
      shares held by the Febish Trust.

(7)   Melvin  Weinberg,  Esq.,  by virtue of his shared  dispositive  power as a
      trustee  over the shares of Common  Stock held by both the Sarna Trust and
      the Febish  Trust  (collectively  the  "Family  Trusts"),  may be deemed a
      beneficial   owner  of  a  total  of  300,000   shares  of  Common  Stock,
      representing the aggregate share holdings of the Family Trusts.  The Sarna
      Trust  was  set up by Mr.  Sarna  for the  benefit  of his  children.  Mr.
      Weinberg  and Mrs.  Sarna  are  trustees  of the  Sarna  Trust  and  share
      dispositive  power with respect to the shares of Common Stock owned by the
      Sarna Trust, but Mrs. Sarna has the sole voting power with respect to such
      shares.  The Febish Trust was set up by Mr.  Febish for the benefit of his
      children.  Mr.  Weinberg and Mrs.  Febish are trustees of the Febish Trust
      and share  dispositive  power with  respect to the shares of Common  Stock
      owned by the Febish Trust,  but Mrs. Febish has the sole voting power with
      respect to such shares. Mr. Weinberg disclaims beneficial ownership of the
      shares of Common Stock held by the Family Trusts.

(8)   Includes, for each of Messrs. Ryan and Less, immediately exercisable stock
      options  to  purchase  15,000  shares of Common  Stock  granted  under the
      Company's 1996 Plan.

(9)   Includes  130,000  shares of Common  Stock  which  certain of the  current
      Executive  Officers  and  Directors  have a right to acquire  pursuant  to
      presently  exercisable  stock  options and 100,000  shares of Common Stock
      which certain of the current Executive Officers and Directors have a right
      to acquire pursuant to presently exercisable warrants.


ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

EXTENSION OF EXPIRATION DATES OF CERTAIN WARRANTS

           Messrs.  Sarna and Febish received certain warrants (the "Warrants ")
to purchase 50,000 shares of Common Stock, exercisable until April 30, 1998. The
Company  extended  the  exercise  date of the  Warrants  to  April  30,  2000 in
consideration  of their  waiver of the  registration  rights with respect to the
Company's  1996 Public  Offering  and their  agreement to enter into an 18 month
lock-up agreement with Renaissance.

LOAN TO OFFICER

           On January 2, 1997 the Company  extended  to Mr.  Sarna a loan in the
amount of  $440,000  (the  "Loan "). The Loan was  approved  by the Board of the
Directors of the Company, with Mr. Sarna abstaining.  Subsequently, the Board of
Directors, with Mr. Sarna abstaining,  unanimously agreed to extend the maturity
date of the Loan from November 30, 1997 to May 31, 1998.  Mr. Sarna utilized the
funds for a block purchase of 80,000 shares of the Company's Common Stock from


                                        6

<PAGE>



the market maker,  who was also the  underwriter of the Public  Offering,  in an
open market transaction.  In March 1998, Mr. Sarna executed a Security Agreement
in favor of the Company in which he pledged as  collateral  for the Loan certain
contract rights to receive an option to acquire certain marketable securities.










                                        7

<PAGE>


                                    SIGNATURE
                                    ---------

In accordance  with Section 13 or 15(d) of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                         OBJECTSOFT CORPORATION



                                         By:  /s/ David E. Y. Sarna
                                            ------------------------------------
                                            David E. Y. Sarna
                                            Chairman, Co-Chief Executive Officer


Dated: April 29, 1998





                                        8