<ARTICLE> 5

                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          JUL-31-2000
<PERIOD-END>                               JUL-31-2000
<CASH>                                       3,204,905
<SECURITIES>                                 3,966,263
<RECEIVABLES>                                   16,138
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             7,286,347
<PP&E>                                       2,605,038
<DEPRECIATION>                                 209,171
<TOTAL-ASSETS>                              10,341,270
<CURRENT-LIABILITIES>                        1,213,686
<BONDS>                                        712,559
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          1
<COMMON>                                    30,451,393
<OTHER-SE>                                    (54,118)
<TOTAL-LIABILITY-AND-EQUITY>                10,341,270
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             9,043,956
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           (195,003)
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (8,841,047)
<EPS-BASIC>                                     (0.58)
<EPS-DILUTED>                                   (0.58)