<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF WATERSIDE CAPITAL CORPORATION AS PRESENTED IN THE FORM
10-Q FOR THE QUARTER ENDED SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS' LEGEND.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                            JUN-30-1998
<PERIOD-START>                               JUL-01-1998
<PERIOD-END>                                 SEP-30-1998
<CASH>                                               200
<SECURITIES>                                      13,279
<RECEIVABLES>                                        348
<ALLOWANCES>                                           0
<INVENTORY>                                            0
<CURRENT-ASSETS>                                     587
<PP&E>                                               119
<DEPRECIATION>                                         0
<TOTAL-ASSETS>                                    14,109
<CURRENT-LIABILITIES>                              1,049
<BONDS>                                                0
<PREFERRED-MANDATORY>                                  0
<PREFERRED>                                            0
<COMMON>                                           1,421
<OTHER-SE>                                        11,618
<TOTAL-LIABILITY-AND-EQUITY>                      14,109
<SALES>                                                0
<TOTAL-REVENUES>                                     678
<CGS>                                                  0
<TOTAL-COSTS>                                          0
<OTHER-EXPENSES>                                     322
<LOSS-PROVISION>                                       0
<INTEREST-EXPENSE>                                     0
<INCOME-PRETAX>                                      356
<INCOME-TAX>                                          49
<INCOME-CONTINUING>                                  307
<DISCONTINUED>                                         0
<EXTRAORDINARY>                                        0
<CHANGES>                                           (302)
<NET-INCOME>                                           5
<EPS-PRIMARY>                                        0.0
<EPS-DILUTED>                                        0.0