<ARTICLE> 5 <CURRENCY> US <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <EXCHANGE-RATE> 1.00000 <CASH> 4,364,743 <SECURITIES> 2,194,363 <RECEIVABLES> 26,687,383 <ALLOWANCES> (6,924,354) <INVENTORY> 0 <CURRENT-ASSETS> 37,466,427 <PP&E> 2,586,685 <DEPRECIATION> (966,142) <TOTAL-ASSETS> 39,086,970 <CURRENT-LIABILITIES> 1,333,148 <BONDS> 5 <PREFERRED-MANDATORY> 79,968 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (3,597,001) <TOTAL-LIABILITY-AND-EQUITY> 39,086,970 <SALES> 6,257,900 <TOTAL-REVENUES> 6,257,900 <CGS> 0 <TOTAL-COSTS> 3,560,970 <OTHER-EXPENSES> 1,634,307 <LOSS-PROVISION> 3,938,300 <INTEREST-EXPENSE> 3,664,161 <INCOME-PRETAX> (6,539,838) <INCOME-TAX> 0 <INCOME-CONTINUING> (6,539,838) <DISCONTINUED> 0 <EXTRAORDINARY> 1,703,017 <CHANGES> 0 <NET-INCOME> (4,836,821) <EPS-PRIMARY> (0.610) <EPS-DILUTED> (0.610)