<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the unaudited financial statements dated February 28, 1999 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> AUG-31-1999 <PERIOD-END> FEB-28-1999 <CASH> 1,087 <SECURITIES> 8,641,834 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 8,642,921 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 9,244,341 <CURRENT-LIABILITIES> 796,998 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 1 <COMMON> 10,560 <OTHER-SE> 8,315,315 <TOTAL-LIABILITY-AND-EQUITY> 8,404,109 <SALES> 0 <TOTAL-REVENUES> 232,498 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 75,963 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 156,535 <INCOME-TAX> 50,000 <INCOME-CONTINUING> 106,535 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 106,535 <EPS-PRIMARY> 0.10 <EPS-DILUTED> 0.10