<ARTICLE> 5 <PERIOD-TYPE> 9-MOS 12-MOS <FISCAL-YEAR-END> JUL-31-1998 JUL-31-1998 <PERIOD-END> APR-30-1999 JUL-31-1998 <CASH> $3,859,362 $2,197,354 <SECURITIES> 0 0 <RECEIVABLES> 159,629 209,090 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 4,151,915 2,537,784 <PP&E> 2,295,493 1,675,614 <DEPRECIATION> 73,236 41,167 <TOTAL-ASSETS> 7,267,043 5,445,708 <CURRENT-LIABILITIES> 938,460 1,664,569 <BONDS> 635,084 912,817 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 1 1 <COMMON> 16,338,238 9,174,300 <OTHER-SE> 0 0 <TOTAL-LIABILITY-AND-EQUITY> 7,267,043 5,445,708 <SALES> 0 0 <TOTAL-REVENUES> 0 0 <CGS> 0 0 <TOTAL-COSTS> 0 0 <OTHER-EXPENSES> 4,319,895 4,550,313 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 26,991 63,291 <INCOME-PRETAX> 0 0 <INCOME-TAX> 0 0 <INCOME-CONTINUING> 0 0 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (4,346,886) (4,613,604) <EPS-BASIC> (0.34) (0.46) <EPS-DILUTED> (0.34) (0.46)