<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-START> OCT-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 6,321,242 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,570,999 <PP&E> 289,926 <DEPRECIATION> 162,871 <TOTAL-ASSETS> 6,722,476 <CURRENT-LIABILITIES> 833,238 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 18,411,076 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 6,722,476 <SALES> 0 <TOTAL-REVENUES> 525,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> (1,249,122) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (86,945) <INCOME-PRETAX> (637,177) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (637,177) <EPS-PRIMARY> (0.06) <EPS-DILUTED> (0.06)