<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> JUL-31-2000 <PERIOD-START> AUG-01-1999 <PERIOD-END> JAN-31-2000 <CASH> 44,586,059 <SECURITIES> 0 <RECEIVABLES> 2,307,805 <ALLOWANCES> 150,000 <INVENTORY> 0 <CURRENT-ASSETS> 47,084,661 <PP&E> 3,136,935 <DEPRECIATION> 439,512 <TOTAL-ASSETS> 52,211,255 <CURRENT-LIABILITIES> 2,506,822 <BONDS> 7,347,487 <PREFERRED-MANDATORY> 0 <PREFERRED> 16,539 <COMMON> 16,244 <OTHER-SE> 41,522,345 <TOTAL-LIABILITY-AND-EQUITY> 52,211,255 <SALES> 3,463,636 <TOTAL-REVENUES> 3,463,636 <CGS> 324,471 <TOTAL-COSTS> 324,471 <OTHER-EXPENSES> 15,743,858 <LOSS-PROVISION> 140,000 <INTEREST-EXPENSE> 373,840 <INCOME-PRETAX> (12,774,049) <INCOME-TAX> 0 <INCOME-CONTINUING> (12,774,049) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,902,983) <EPS-BASIC> (1.61) <EPS-DILUTED> (0.56)