<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>