<ARTICLE> 5 <MULTIPLIER> 1 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUN-30-1999 <PERIOD-START> JUL-1-1999 <PERIOD-END> SEP-30-1999 <CASH> 56,751,444 <SECURITIES> 0 <RECEIVABLES> 1,445,626 <ALLOWANCES> 178,075 <INVENTORY> 0 <CURRENT-ASSETS> 58,517,930 <PP&E> 3,024,987 <DEPRECIATION> 469,032 <TOTAL-ASSETS> 79,609,390 <CURRENT-LIABILITIES> 8,237,295 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 27,977 <OTHER-SE> 70,847,658 <TOTAL-LIABILITY-AND-EQUITY> 79,609,390 <SALES> 1,387,934 <TOTAL-REVENUES> 1,387,934 <CGS> 2,202,237 <TOTAL-COSTS> 2,202,237 <OTHER-EXPENSES> 11,796,310 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 46,119 <INCOME-PRETAX> (12,687,019) <INCOME-TAX> 0 <INCOME-CONTINUING> (12,687,019) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,687,019) <EPS-BASIC> (1.22) <EPS-DILUTED> (1.22)