<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, 1999 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-30-2000
<PERIOD-START>                             JUL-01-1999
<PERIOD-END>                               SEP-30-1999
<CASH>                                             667
<SECURITIES>                                    24,557
<RECEIVABLES>                                      649
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 1,504
<PP&E>                                             113
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  26,746
<CURRENT-LIABILITIES>                              247
<BONDS>                                         12,300
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,492
<OTHER-SE>                                      12,707
<TOTAL-LIABILITY-AND-EQUITY>                    26,746
<SALES>                                              0
<TOTAL-REVENUES>                                   830
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   320
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 225
<INCOME-PRETAX>                                    285
<INCOME-TAX>                                      (71)
<INCOME-CONTINUING>                                356
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                        (228)
<NET-INCOME>                                       128
<EPS-BASIC>                                        .09
<EPS-DILUTED>                                      .09