<ARTICLE> 5
<CURRENCY> US DOLLARS
   
       
                                             
<PERIOD-TYPE>                 12-MOS                  3-MOS     
<FISCAL-YEAR-END>             JUN-30-1998           SEP-30-1998
<PERIOD-END>                  JUN-30-1998           SEP-30-1998
<EXCHANGE-RATE>                         1                     1
<CASH>                          2,911,953             2,277,429
<SECURITIES>                            0                     0
<RECEIVABLES>                           0             5,710,101
<ALLOWANCES>                            0                     0
<INVENTORY>                             0                     0
<CURRENT-ASSETS>                2,960,593             8,038,793
<PP&E>                            180,021               180,309
<DEPRECIATION>                     88,091                95,987
<TOTAL-ASSETS>                  4,099,581             9,357,474
<CURRENT-LIABILITIES>           2,326,018             6,648,087
<BONDS>                                 0                     0   
<PREFERRED-MANDATORY>          11,623,056            11,786,321
<PREFERRED>                         6,391                 6,391
<COMMON>                           10,655                10,655
<OTHER-SE>                    (17,866,539)          (12,476,416)
<TOTAL-LIABILITY-AND-EQUITY>    4,099,581             9,357,474
<SALES>                                 0                     0
<TOTAL-REVENUES>                        0             8,580,717
<CGS>                                   0                     0
<TOTAL-COSTS>                  11,106,278             3,124,184
<OTHER-EXPENSES>                        0                     0
<LOSS-PROVISION>                        0                     0
<INTEREST-EXPENSE>                      0                     0
<INCOME-PRETAX>               (10,747,015)            5,492,126
<INCOME-TAX>                            0                     0
<INCOME-CONTINUING>           (10,747,015)            5,492,126
<DISCONTINUED>                          0                     0
<EXTRAORDINARY>                         0                     0
<CHANGES>                               0                     0
<NET-INCOME>                  (10,747,015)            5,492,126
<EPS-PRIMARY>                      (10.70)<F1>             5.00<F1>
<EPS-DILUTED>                      (10.70)                 0.99

<FN>
<F1> The information reported above under "EPS-Primary" represents basic net
     loss per share for the year ended June 30, 1998 and net income per share
     for the three months ended September 30, 1998.
</FN>