<ARTICLE>                     5
<LEGEND>
     THIS SCHEDULE  CONTAINS SUMMARY  FINANCIAL  INFORMATION  EXTRACTED FROM THE
     COMPANY'S UNAUDITED FINANCIAL  STATEMENTS DATED AS OF MARCH 31, 1999 AND IS
     QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENT.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                              JUN-30-1999
<PERIOD-START>                                 JUL-01-1998
<PERIOD-END>                                   MAR-31-1999
<CASH>                                         56,092,111
<SECURITIES>                                   0
<RECEIVABLES>                                  50,143
<ALLOWANCES>                                   0
<INVENTORY>                                    2,810,267
<CURRENT-ASSETS>                               0
<PP&E>                                         0
<DEPRECIATION>                                 0
<TOTAL-ASSETS>                                 58,952,521
<CURRENT-LIABILITIES>                          495,590
<BONDS>                                        0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       203,561
<OTHER-SE>                                     58,254,370
<TOTAL-LIABILITY-AND-EQUITY>                   58,952,521
<SALES>                                        0
<TOTAL-REVENUES>                               2,057,717
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                               628,028
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             0
<INCOME-PRETAX>                                1,429,689
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            1,429,689
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   1,429,689
<EPS-PRIMARY>                                  .07
<EPS-DILUTED>                                  .07