<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED BALANCE SHEET AT OCTOBER 31, 1999 AND THE CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED OCTOBER 31, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH CONDENSED CONSOLIDATED FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUL-31-2000 <PERIOD-START> AUG-01-1999 <PERIOD-END> OCT-31-1999 <CASH> 113,190 <SECURITIES> 0 <RECEIVABLES> 217,521 <ALLOWANCES> 1,000 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 394,278 <DEPRECIATION> 363,502 <TOTAL-ASSETS> 3,823,7000 <CURRENT-LIABILITIES> 0 <BONDS> 4,637,975 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,723,774 <OTHER-SE> (4,395,647) <TOTAL-LIABILITY-AND-EQUITY> 3,823,700 <SALES> 0 <TOTAL-REVENUES> 171,655 <CGS> 0 <TOTAL-COSTS> 367,525 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 120,666 <INCOME-PRETAX> (195,870) <INCOME-TAX> 0 <INCOME-CONTINUING> (195,870) <DISCONTINUED> 38,297 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (157,573) <EPS-BASIC> (.15) <EPS-DILUTED> (.15)