<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> JUN-30-1998 <PERIOD-END> JUN-30-1998 <CASH> 91,431 <SECURITIES> 960,991 <RECEIVABLES> 384,059 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 942,674 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 2,063,651 <CURRENT-LIABILITIES> 2,802 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 8,092,136 <OTHER-SE> 2,060,849 <TOTAL-LIABILITY-AND-EQUITY> 2,063,651 <SALES> 0 <TOTAL-REVENUES> 516,600 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 126,796 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 77,317 <INCOME-PRETAX> 467,121 <INCOME-TAX> 467,121 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 467,121 <EPS-PRIMARY> .06 <EPS-DILUTED> .06