<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AS OF JULY 31, 1999 AND THE CONSOLIDATED STATEMENTS
OF OPERATIONS AND RETAINED EARNINGS (ACCUMULATED DEFICIT) FOR THE YEAR ENDED
JULY 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH CONSOLIDATED
FINANCIAL STATEMENTS.
</LEGEND>

                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          JUL-31-1999
<PERIOD-START>                             AUG-01-1998
<PERIOD-END>                               JUL-31-1999
<CASH>                                         360,769
<SECURITIES>                                         0
<RECEIVABLES>                                  190,321
<ALLOWANCES>                                     1,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                         393,134
<DEPRECIATION>                                 360,944
<TOTAL-ASSETS>                               4,132,063
<CURRENT-LIABILITIES>                                0
<BONDS>                                      4,769,850
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     1,723,744
<OTHER-SE>                                 (4,238,074)
<TOTAL-LIABILITY-AND-EQUITY>                 4,132,063
<SALES>                                              0
<TOTAL-REVENUES>                               797,538
<CGS>                                                0
<TOTAL-COSTS>                                2,122,696
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                               437,297
<INTEREST-EXPENSE>                             507,785
<INCOME-PRETAX>                            (1,325,158)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (1,325,158)
<DISCONTINUED>                                 238,591
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (1,086,567)
<EPS-BASIC>                                   (1.05)
<EPS-DILUTED>                                   (1.05)