<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> JUN-30-1999 <PERIOD-START> JUL-01-1998 <PERIOD-END> JUN-30-1999 <CASH> 3,185,077 <SECURITIES> 0 <RECEIVABLES> 568,223 <ALLOWANCES> 12,803,000 <INVENTORY> 0 <CURRENT-ASSETS> 4,052,199 <PP&E> 1,098,289 <DEPRECIATION> 1,481,439 <TOTAL-ASSETS> 30,117,620 <CURRENT-LIABILITIES> 64,252,629 <BONDS> 1,520,189 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,455 <OTHER-SE> (35,653,743) <TOTAL-LIABILITY-AND-EQUITY> 30,117,620 <SALES> 0 <TOTAL-REVENUES> 182,665,715 <CGS> 0 <TOTAL-COSTS> 212,825,860 <OTHER-EXPENSES> 15,336,386 <LOSS-PROVISION> 6,196,384 <INTEREST-EXPENSE> 5,145,212 <INCOME-PRETAX> (50,641,743) <INCOME-TAX> 0 <INCOME-CONTINUING> (50,641,743) <DISCONTINUED> 0 <EXTRAORDINARY> 130,977 <CHANGES> 0 <NET-INCOME> (50,510,766) <EPS-BASIC> (3.49) <EPS-DILUTED> (3.49)