WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE> 5
       
                                     
<PERIOD-TYPE>                           6-MOS
<FISCAL-YEAR-END>                               JUN-30-1997
<PERIOD-END>                                    DEC-31-1996
<CASH>                                            2,335,874
<SECURITIES>                                              0
<RECEIVABLES>                                        29,008
<ALLOWANCES>                                              0
<INENTORY>                                                0
<CURRENT-ASSETS>                                  2,453,222
<PP&E>                                               21,198

<DEPRECIATION>                                            0
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<CURRENT-LIABILITIES>                               252,977
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<COMMON>                                              5,277
<OTHER-SE>                                          825,963
[TOTAL-LIABILITIES-AND-EQUITY]                    3,203,693
<SALES>                                                   0
<TOTAL-REVENUES>                                          0
<CGS>                                                     0
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<INCOME-CONTINUING>                                 (24,459)
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<EPS-PRIMARY>                                           .32
<EPS-DILUTED>                                           .32