<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> JUN-30-1997 <PERIOD-END> MAR-31-1998 <CASH> 32,000 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 32,000 <PP&E> 6,454,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 6,857,000 <CURRENT-LIABILITIES> 28,944,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (22,073,000) <TOTAL-LIABILITY-AND-EQUITY> 6,857,000 <SALES> 0 <TOTAL-REVENUES> 1,000 <CGS> 0 <TOTAL-COSTS> 1,567,000 <OTHER-EXPENSES> 20,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,622,000 <INCOME-PRETAX> (4,208,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,208,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,208,000) <EPS-PRIMARY> 0 <EPS-DILUTED> 0