<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> JUN-30-1994 <PERIOD-START> JUL-01-1993 <PERIOD-END> JUN-30-1994 <CASH> 9,780,940 <SECURITIES> 0 <RECEIVABLES> 13,037,430 <ALLOWANCES> (11,709,395) <INVENTORY> 25,207,002 <CURRENT-ASSETS> 36,315,977 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 36,315,977 <CURRENT-LIABILITIES> 1,402,032 <BONDS> 0 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 34,913,945 <TOTAL-LIABILITY-AND-EQUITY> 36,315,977 <SALES> 0 <TOTAL-REVENUES> 10,019,039 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 10,317,910 <LOSS-PROVISION> 3,175,000 <INTEREST-EXPENSE> 7,672,694 <INCOME-PRETAX> (11,146,565) <INCOME-TAX> 0 <INCOME-CONTINUING> (11,146,565) <DISCONTINUED> 0 <EXTRAORDINARY> (18,130,945) <CHANGES> 0 <NET-INCOME> (29,277,510) <EPS-PRIMARY> (2.40) <EPS-DILUTED> 0