<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 5,145,634 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,377,150 <PP&E> 365,465 <DEPRECIATION> 177,346 <TOTAL-ASSETS> 5,584,691 <CURRENT-LIABILITIES> 768,991 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 18,534,076 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 5,584,691 <SALES> 0 <TOTAL-REVENUES> 125,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> (1,269,326) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (72,788) <INCOME-PRETAX> (1,071,538) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,071,538) <EPS-PRIMARY> (0.11) <EPS-DILUTED> (0.11)