<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> MAR-31-1999 <PERIOD-START> APR-01-1998 <PERIOD-END> DEC-31-1998 <CASH> 3,161,613 <SECURITIES> 0 <RECEIVABLES> 310,025 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,559,665 <PP&E> 339,609 <DEPRECIATION> 50,098 <TOTAL-ASSETS> 4,105,412 <CURRENT-LIABILITIES> 616,680 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 5,000 <COMMON> 61,389 <OTHER-SE> 1,253,902 <TOTAL-LIABILITY-AND-EQUITY> 4,105,412 <SALES> 0 <TOTAL-REVENUES> 784,699 <CGS> 0 <TOTAL-COSTS> 2,428,100 <OTHER-EXPENSES> (68,872) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 160,066 <INCOME-PRETAX> (1,734,595) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,734,595) <EPS-PRIMARY> (0.40) <EPS-DILUTED> (0.40)