<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> MAY-31-1999 <CASH> 0 <SECURITIES> 0 <RECEIVABLES> 7,074,456 <ALLOWANCES> (7,039,478) <INVENTORY> 0 <CURRENT-ASSETS> 480,000 <PP&E> 73,667 <DEPRECIATION> (44,825) <TOTAL-ASSETS> 508,844 <CURRENT-LIABILITIES> 19,389,764 <BONDS> 0 <PREFERRED-MANDATORY> 175,089 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (18,897,230) <TOTAL-LIABILITY-AND-EQUITY> 508,844 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 471,798 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 62,747 <INCOME-PRETAX> (534,545) <INCOME-TAX> 0 <INCOME-CONTINUING> (534,545) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (534,545) <EPS-PRIMARY> (0.01) <EPS-DILUTED> (0.01)