<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAY-31-1996 <PERIOD-START> JUN-01-1995 <PERIOD-END> NOV-30-1995 <EXCHANGE-RATE> 1 <CASH> 185,913 <SECURITIES> 33,413,474 <RECEIVABLES> 106,497 <ALLOWANCES> (51,753) <INVENTORY> 0 <CURRENT-ASSETS> 33,915,476 <PP&E> 146,024 <DEPRECIATION> (106,131) <TOTAL-ASSETS> 33,955,369 <CURRENT-LIABILITIES> 1,127,100 <BONDS> 2,000,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 77,578 <OTHER-SE> 30,750,491 <TOTAL-LIABILITY-AND-EQUITY> 33,955,369 <SALES> 382,843 <TOTAL-REVENUES> 382,843 <CGS> 0 <TOTAL-COSTS> 1,032,905 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 118,964 <INCOME-PRETAX> 138,643 <INCOME-TAX> (233,485) <INCOME-CONTINUING> 372,128 <DISCONTINUED> 268,749 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 640,777 <EPS-PRIMARY> 0.080 <EPS-DILUTED> 0.080