<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM UNAUDITED
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          JUN-30-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                      37,047,073
<SECURITIES>                                         0
<RECEIVABLES>                                   74,724
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            37,351,590
<PP&E>                                      10,322,264
<DEPRECIATION>                                 967,828
<TOTAL-ASSETS>                              47,441,678
<CURRENT-LIABILITIES>                        1,994,387
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       226,871
<OTHER-SE>                                  45,068,264
<TOTAL-LIABILITY-AND-EQUITY>                47,441,678
<SALES>                                              0
<TOTAL-REVENUES>                               126,117
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             3,344,190
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                            (3,218,073)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (3,218,073)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (3,218,073)
<EPS-PRIMARY>                                    (.15)
<EPS-DILUTED>                                        0