WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  


<ARTICLE>                     5
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                              JUN-30-1997
<PERIOD-END>                                   JUN-30-1997
<CASH>                                           4,492,591
<SECURITIES>                                             0
<RECEIVABLES>                                   71,968,296
<ALLOWANCES>                                             0
<INVENTORY>                                              0
<CURRENT-ASSETS>                                         0
<PP&E>                                           6,311,086
<DEPRECIATION>                                  (1,313,368)
<TOTAL-ASSETS>                                  83,482,740
<CURRENT-LIABILITIES>                           94,060,400
<BONDS>                                                  0
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                              0
<COMMON>                                           176,772
<OTHER-SE>                                     (10,751,432)
<TOTAL-LIABILITY-AND-EQUITY>                    83,482,740
<SALES>                                                  0
<TOTAL-REVENUES>                                    (9,239)
<CGS>                                                    0
<TOTAL-COSTS>                                            0
<OTHER-EXPENSES>                                36,324,640
<LOSS-PROVISION>                                         0
<INTEREST-EXPENSE>                              16,588,261
<INCOME-PRETAX>                                (52,922,140)
<INCOME-TAX>                                    (8,427,030)
<INCOME-CONTINUING>                            (44,495,110)
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                   (44,495,110)
<EPS-PRIMARY>                                        (2.71)
<EPS-DILUTED>                                        (2.71)