<ARTICLE> 5 <MULTIPLIER> 1 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> APR-30-1998 <PERIOD-START> MAY-01-1997 <PERIOD-END> OCT-31-1997 <CASH> 59,710 <SECURITIES> 0 <RECEIVABLES> 18,617 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 453,311 <PP&E> 310,041 <DEPRECIATION> 276,183 <TOTAL-ASSETS> 3,491,839 <CURRENT-LIABILITIES> 2,754,297 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 5,000 <COMMON> 9,062 <OTHER-SE> 723,480 <TOTAL-LIABILITY-AND-EQUITY> 3,491,839 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 538,395 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 100,719 <INCOME-PRETAX> 1,243,439 <INCOME-TAX> 0 <INCOME-CONTINUING> 1,243,439 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,243,439 <EPS-PRIMARY> 0.08 <EPS-DILUTED> 0.08