<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> NOV-30-1998 <PERIOD-END> NOV-30-1998 <CASH> 1,015 <SECURITIES> 8,515,526 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 8,731,541 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 8,731,541 <CURRENT-LIABILITIES> 350,027 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 1 <COMMON> 10,560 <OTHER-SE> 6,669,944 <TOTAL-LIABILITY-AND-EQUITY> 8,731,541 <SALES> 0 <TOTAL-REVENUES> 106,750 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 40,944 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 40,806 <EPS-PRIMARY> 0.04 <EPS-DILUTED> 0.00