<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> JUN-30-1999 <PERIOD-END> DEC-31-1998 <CASH> 611 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 183,184 <PP&E> 17,554,538 <DEPRECIATION> 23,355 <TOTAL-ASSETS> 17,773,352 <CURRENT-LIABILITIES> 7,317,086 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 3,325,000 <COMMON> 54,331,687 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 17,773,352 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 442,013 <OTHER-EXPENSES> 63,570 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 63,570 <INCOME-PRETAX> (505,583) <INCOME-TAX> 0 <INCOME-CONTINUING> (505,583) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (505,583) <EPS-PRIMARY> (.02) <EPS-DILUTED> (.02)