<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM FINANCIAL STATEMENTS ENCLOSED AS ITEM 22 IN THIS REGISTRATION STATEMENT. </LEGEND> <MULTIPLIER> 1 <CURRENCY> U.S. Dollars <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> JUL-31-1997 <PERIOD-START> AUG-01-1996 <PERIOD-END> JAN-31-1997 <EXCHANGE-RATE> 1 <CASH> 295,774 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 7,373,634 <PP&E> 79,179 <DEPRECIATION> 18,981 <TOTAL-ASSETS> 7,433,832 <CURRENT-LIABILITIES> 2,265,707 <BONDS> 0 <PREFERRED-MANDATORY> 30,000 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 2,005,932 <TOTAL-LIABILITY-AND-EQUITY> 7,433,832 <SALES> 4,029,908 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 3,621,637 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 76,629 <INCOME-PRETAX> (97,756) <INCOME-TAX> 26,658 <INCOME-CONTINUING> (71,098) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (71,098) <EPS-PRIMARY> (0.02) <EPS-DILUTED> (0.02)