<ARTICLE> 5 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-START> JUL-01-1997 <PERIOD-END> JUN-30-1998 <CASH> 4,105,781 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,351,693 <PP&E> 379,190 <DEPRECIATION> 188,526 <TOTAL-ASSETS> 4,641,780 <CURRENT-LIABILITIES> 627,030 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 18,557,636 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 4,641,780 <SALES> 0 <TOTAL-REVENUES> 1,150,000 <CGS> 0 <TOTAL-COSTS> (4,898,087) <OTHER-EXPENSES> (17,909) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (276,832) <INCOME-PRETAX> (3,453,346) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,453,346) <EPS-PRIMARY> (0.35) <EPS-DILUTED> (0.35)