<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACED FROM THE BALANCE
SHEET, THE STATEMENT OF OPERATIONS, AND THE STATEMENT OF CASH FLOWS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUL-31-2001
<PERIOD-START>                             AUG-01-2000
<PERIOD-END>                               OCT-31-2000
<CASH>                                          47,693
<SECURITIES>                                   118,906
<RECEIVABLES>                                    3,902
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               171,350
<PP&E>                                          15,818
<DEPRECIATION>                                 (5,411)
<TOTAL-ASSETS>                                 208,007
<CURRENT-LIABILITIES>                            6,274
<BONDS>                                        123,920
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             2
<OTHER-SE>                                      77,813
<TOTAL-LIABILITY-AND-EQUITY>                   208,007
<SALES>                                              0
<TOTAL-REVENUES>                                 3,252
<CGS>                                                0
<TOTAL-COSTS>                                   33,650
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 810
<INCOME-PRETAX>                               (29,588)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (29,588)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (29,588)
<EPS-BASIC>                                     (1.93)
<EPS-DILUTED>                                   (1.93)