<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND CONDENSED CONSOLIDATED BALANCE SHEETS
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1998
<PERIOD-START>                             JUL-01-1997
<PERIOD-END>                               DEC-31-1998
<CASH>                                      17,008,757
<SECURITIES>                                42,476,714
<RECEIVABLES>                                  654,406
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            44,732,976
<PP&E>                                      16,639,999
<DEPRECIATION>                               4,497,067
<TOTAL-ASSETS>                              72,606,730
<CURRENT-LIABILITIES>                        9,854,415
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        92,979
<OTHER-SE>                                  62,659,336
<TOTAL-LIABILITY-AND-EQUITY>                72,606,730
<SALES>                                        934,463
<TOTAL-REVENUES>                            11,013,395
<CGS>                                          541,585
<TOTAL-COSTS>                               16,754,400
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              20,897
<INCOME-PRETAX>                            (4,060,422)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (4,060,422)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (4,060,422)
<EPS-PRIMARY>                                    (.44)
<EPS-DILUTED>                                    (.44)