WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

EXHIBIT 27

<ARTICLE>                                        5
         

  
<PERIOD-TYPE>                                3-MOS
<FISCAL-YEAR-END>                      JUN-30-1996  
<PERIOD-END>                           MAR-31-1996 
<CASH>                                      222,818
<SECURITIES>                               105,330  
<RECEIVABLES>                              329,054  
<ALLOWANCES>                                     0  
<INVENTORY>                             17,496,539 
<CURRENT-ASSETS>                        18,768,161  
<PP&E>                                   1,081,165
<DEPRECIATION>                                   0  
<TOTAL-ASSETS>                          21,927,400  
<CURRENT-LIABILITIES>                      205,108
<BONDS>                                 13,623,133  
<COMMON>                                   452,295  
<PREFERRED-MANDATORY>                            0  
<PREFERRED>                                      0  
<OTHER-SE>                               4,067,416  
 
<TOTAL-LIABILITY-AND-EQUITY>           21,927,400  
<SALES>                                  4,163,000  
<TOTAL-REVENUES>                         4,163,000
<CGS>                                    3,361,000
<TOTAL-COSTS>                            3,861,000
<OTHER-EXPENSES>                                 0
<LOSS-PROVISION>                                 0  
<INTEREST-EXPENSE>                         402,000  
<INCOME-PRETAX>                            (94,000)
<INCOME-TAX>                               (20,000)
<INCOME-CONTINUING>                       (114,000)  
<DISCONTINUED>                                   0 
<EXTRAORDINARY>                                  0  
<CHANGES>                                        0  
<NET-INCOME>                              (114,000)   
<EPS-PRIMARY>                                 (.02)  
<EPS-DILUTED>                                 .
                                         1