-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ij/twZFxU7YLD1dDDQN9RDlV8ccl2HoGkAeeuiRJO4b8TqktnbG672L6aS1fVcE2 gqXz5+u3EX5wfLm/5WNMXg== 0000950146-99-000061.txt : 19990122 0000950146-99-000061.hdr.sgml : 19990122 ACCESSION NUMBER: 0000950146-99-000061 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990121 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OBJECTIVE COMMUNICATIONS INC CENTRAL INDEX KEY: 0000944310 STANDARD INDUSTRIAL CLASSIFICATION: TELEGRAPH & OTHER MESSAGE COMMUNICATIONS [4822] IRS NUMBER: 541707962 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-53297 FILM NUMBER: 99509430 BUSINESS ADDRESS: STREET 1: 50 INTERNATIONAL DRIVE CITY: PORTSMOUTH STATE: NH ZIP: 03801 BUSINESS PHONE: 6033346700 MAIL ADDRESS: STREET 1: 50 INTERNATIONAL DRIVE CITY: PORTSMOUTH STATE: NH ZIP: 03801 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: APPLEWOOD ASSOCIATES L P CENTRAL INDEX KEY: 0000885787 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 68 WHEATLEY RD CITY: BROOKVILLE STATE: NY ZIP: 11545 BUSINESS PHONE: 2127358600 SC 13D 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 S C H E D U L E 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a). (Amendment No. )(1) OBJECTIVE COMMUNICATIONS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 674421102 -------------- (CUSIP Number) Copy to: Applewood Associates, L.P. Morrison Cohen Singer & Weinstein, LLP 68 Wheatley Road 750 Lexington Avenue Brookville, New York 11545 New York, New York 10022 Telephone (516) 626-3070 Telephone (212) 735-8600 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 31, 1998 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following box |_|. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following page(s)) - ----------------- (1) The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - 1 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Applewood Associates, L.P. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* WC, OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 175,000 shares 3.0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 0 shares 0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 175,000 shares 3.0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 0 shares 0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | PN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 2 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Applewood Capital Corp. | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization New York | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 175,000 shares 3.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 175,000 shares 3.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | CO ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 3 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Irwin Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 175,000 shares 3.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 175,000 shares 3.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 4 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Barry Rubenstein | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 175,000 shares 3.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 175,000 shares 3.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 5 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Barry Fingerhut | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 175,000 shares 3.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 175,000 shares 3.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 6 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Seth Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 175,000 shares 3.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 175,000 shares 3.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 7 of 15 - CUSIP No. 674421102 13D ================================================================================ 1 | Names of Reporting Persons | I.R.S. Identification Nos. of Above Persons (Entities Only) | Jonathan Lieber | - -------------------------------------------------------------------------------- 2 | Check the Appropriate Box if a Member of a Group* (a) |_| | (b) |_| - -------------------------------------------------------------------------------- 3 | SEC Use Only | - -------------------------------------------------------------------------------- 4 | Source of Funds* OO | - -------------------------------------------------------------------------------- 5 | Check Box if Disclosure of Legal Proceedings is Required | Pursuant to Item 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 | Citizenship or Place of Organization United States | - -------------------------------------------------------------------------------- | 7 | Sole Voting Power | | 0 shares 0% Number of |----------------------------------------------------------- Shares | 8 | Shared Voting Power Beneficially | | 175,000 shares 3.0% Owned By |----------------------------------------------------------- Each | 9 | Sole Dispositive Power Reporting | | 0 shares 0% Person |----------------------------------------------------------- With | 10 | Shared Dispositive Power | | 175,000 shares 3.0% - -------------------------------------------------------------------------------- 11 | Aggregate Amount Beneficially Owned By Each Reporting Person | 175,000 shares | - -------------------------------------------------------------------------------- 12 | Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* |_| | - -------------------------------------------------------------------------------- 13 | Percent of Class Represented by Amount in Row (11) | 3.0% | - -------------------------------------------------------------------------------- 14 | Type of Reporting Person* | IN ================================================================================ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 8 of 15 - This statement, dated December 31, 1998, relates to the reporting persons' ownership of the common stock of Objective Communications, Inc. (the "Issuer"). The reporting persons previously filed a statement on Schedule 13G, dated February 12, 1998. ITEM 1. SECURITY AND ISSUER (a) Common Stock, $0.01 par value per share ("Common Stock"), (CUSIP No. 674421102). (b) Bridge warrants (the "Bridge Warrants"), expiring November 27, 2001, entitling the holder to purchase one share of Common Stock at $3.30 per share. (c) Series A warrants (the "Series A Warrants"), expiring December 17, 2001, entitling the holder to purchase one share of Common Stock at $4.00 per share. (d) Objective Communications, Inc. 50 International Drive Portsmith, New Hampshire 03801 (603) 334-6700 ITEM 2. IDENTITY AND BACKGROUND 1. (a) Applewood Associates, L.P., a limited partnership organized under the laws of the State of New York ("Applewood"). (b) Address: c/o Applewood Capital Corp. 68 Wheatley Road Brookville, New York 11545 (c) Principal Business: Investments. (d) No. (e) No. 2. (a) Applewood Capital Corp., a corporation organized under the laws of the State of New York ("Applewood Capital"). (b) Address: c/o Barry Rubenstein 68 Wheatley Road Brookville, New York 11545 (c) Principal Business: Investments. (d) No. (e) No. Applewood Capital is a general partner of Applewood. 3. (a) Barry Rubenstein, a general partner of Applewood and an officer and director of Applewood Capital. (b) Address: 68 Wheatley Road - 9 of 15 - Brookville, New York 11545 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States 4. (a) Irwin Lieber, a general partner of Applewood and an officer and director of Applewood Capital. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States Irwin Lieber is the father of Seth Lieber and Jonathan Lieber. 5. (a) Barry Fingerhut, a general partner of Applewood and an officer and director of Applewood Capital. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. 6. (a) Seth Lieber, a general partner of Applewood and an officer of Applewood Capital. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. 7. (a) Jonathan Lieber, a general partner of Applewood and an officer of Applewood Capital. (b) Address: 767 Fifth Avenue New York, New York 10153 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. - 10 of 15 - ITEM 3. Source and Amount of Funds or Other Consideration. The source of funds for the acquisition of the securities was the general working capital and other funds of Applewood. The amount of funds used in acquiring the securities by Applewood was $1,000,000. ITEM 4. Purpose of Transaction. Other than the reporting persons' purchase or sale of additional securities of the Issuer, no reporting person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein. ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 5,741,035 shares of Common Stock outstanding as reported by the Issuer in its Form 10-Q for the quarter ended September 30, 1998), of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of December 31, 1998:
Shares of Common Percentage of Shares Stock Beneficially of Common Stock Name Owned(2) Beneficially Owned(2) ---- -------- --------------------- Applewood Associates, L.P. 175,000 3.0% Applewood Capital Corp. 175,000(3) 3.0% Barry Rubenstein 175,000(3) 3.0% Irwin Lieber 175,000(3) 3.0% Barry Fingerhut 175,000(3) 3.0% Seth Lieber 175,000(3) 3.0% Jonathan Lieber 175,000(3) 3.0%
(b) Applewood has sole power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. Applewood Capital, by virtue of being a general partner of Applewood, may be deemed to have shared power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. - -------- (2) Includes shares of Common Stock issuable upon the exercise of the Bridge Warrants and the Series A Warrants. (3) The reporting person disclaims beneficial ownership of these securities except to the extent of his/its equity interest therein. - 11 of 15 - Barry Rubenstein, by virtue of being a general partner of Applewood, may be deemed to have shared power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. Irwin Lieber, by virtue of being a general partner of Applewood, may be deemed to have shared power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. Barry Fingerhut, by virtue of being a general partner of Applewood, may be deemed to have shared power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. Seth Lieber, by virtue of being a general partner of Applewood, may be deemed to have shared power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. Jonathan Lieber, by virtue of being a general partner of Applewood, may be deemed to have shared power to vote and to dispose of 175,000 shares of Common Stock (consisting of 175,000 shares issuable upon the exercise of the Bridge Warrants and Series A Warrants), representing approximately 3.0% of the outstanding Common Stock. (c) The following is a description of all transactions in shares of Common Stock of the Issuer by the reporting persons identified in Item 2 of this Schedule 13D effected from October 30, 1998 through December 31, 1998, inclusive:
Date of Number of Shares Purchase or Sale Name of Shareholder Purchase or Sale Purchased or (Sold) Price per Share ------------------- ---------------- ------------------- --------------- Applewood Associates, L.P. 12/30/98 (18,000) $2.28125 12/30/98 (14,400) $2.50 12/31/98 (60,000) $1.875 12/31/98 (36,000) $1.78125 12/31/98 (42,000) $1.75
The shares of Common Stock were sold by Applewood in the over-the-counter market. (d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of such securities. (e) Effective December 31, 1998, the reporting persons ceased to be the beneficial owners of more than five (5%) of the Common Stock. - 12 of 15 - ITEM 6. Contracts Arrangements Understanding or Relationships with Respect to Securities of the Issuer The reporting persons agreed with Barington Capital Group, L.P., the underwriter of the Issuer's initial public offering that the shares of Common Stock underlying the Bridge Warrants are subject to a lock-up agreement for a period of two years from April 8, 1997, and the shares of Common Stock underlying the Series A Warrants were subject to a lock-up agreement for a period of one year from April 8, 1997. ITEM 7. Materials to be Filed as Exhibits Exhibit A. Agreement among the reporting persons, effective as of December 31, 1998, by which they have agreed to file this Schedule 13D and all necessary amendments, as required by Rule 13d- 1(f). - 13 of 15 - SIGNATURE After reasonable inquiry and to the best of his/its knowledge and belief, each of the undersigned hereby certifies that the information set forth in this Schedule is true, complete and correct. Dated: January 15 , 1999 APPLEWOOD ASSOCIATES, L.P. By: Irwin Lieber ------------------------------- Irwin Lieber, A General Partner APPLEWOOD CAPITAL CORP. By: Barry Rubenstein ------------------------------- Barry Rubenstein, President Barry Rubenstein ------------------------------- Barry Rubenstein Irwin Lieber ------------------------------- Irwin Lieber Barry Fingerhut ------------------------------- Barry Fingerhut Seth Lieber ------------------------------- Seth Lieber Jonathan Lieber ------------------------------- Jonathan Lieber ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). - 14 of 15 - JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $.01 per share, of OBJECTIVE COMMUNICATIONS, INC. and that this Agreement be filed as an Exhibit to such statement on Schedule 13D. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement effective as of the 31st day of December, 1998. APPLEWOOD ASSOCIATES, L.P. By: Irwin Lieber ------------------------------- Irwin Lieber, A General Partner APPLEWOOD CAPITAL CORP. By: Barry Rubenstein ------------------------------- Barry Rubenstein, President Barry Rubenstein ------------------------------- Barry Rubenstein Irwin Lieber ------------------------------- Irwin Lieber Barry Fingerhut ------------------------------- Barry Fingerhut Seth Lieber ------------------------------- Seth Lieber Jonathan Lieber ------------------------------- Jonathan Lieber - 15 of 15 - -----END PRIVACY-ENHANCED MESSAGE-----