<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from financial
statements for the nine month period ended March 31, 1996 and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-START>                              JUL-1-1996
<PERIOD-END>                               MAR-31-1997
<CASH>                                       4,863,237
<SECURITIES>                                         0
<RECEIVABLES>                                  267,870
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             5,190,244
<PP&E>                                         408,182
<DEPRECIATION>                                 222,174
<TOTAL-ASSETS>                               5,452,192
<CURRENT-LIABILITIES>                        1,464,570
<BONDS>                                      1,090,506
<PREFERRED-MANDATORY>                        2,680,591
<PREFERRED>                                          0
<COMMON>                                       117,540
<OTHER-SE>                                   (451,015)
<TOTAL-LIABILITY-AND-EQUITY>                 5,452,192
<SALES>                                         22,184
<TOTAL-REVENUES>                               640,046
<CGS>                                                0
<TOTAL-COSTS>                                4,040,794
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             301,200
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (3,525,506)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (3,525,506)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0