<TABLE> <S> <C>

<ARTICLE>                     5
<MULTIPLIER>                                             1
<CURRENCY>                                     U.S. Dollar
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                                                   JUN-30-1997
<PERIOD-START>                                                      JUL-01-1996
<PERIOD-END>                                                        JUN-30-1997
<EXCHANGE-RATE>                                                               1 
<CASH>                                                                   10,238 
<SECURITIES>                                                            388,089 
<RECEIVABLES>                                                                 0 
<ALLOWANCES>                                                                  0 
<INVENTORY>                                                                   0 
<CURRENT-ASSETS>                                                        467,112 
<PP&E>                                                                        0 
<DEPRECIATION>                                                                0 
<TOTAL-ASSETS>                                                          467,112 
<CURRENT-LIABILITIES>                                                    35,718 
<BONDS>                                                                       0
<PREFERRED-MANDATORY>                                                    11,200
<PREFERRED>                                                                   0 
<COMMON>                                                                 23,241
<OTHER-SE>                                                                    0 
<TOTAL-LIABILITY-AND-EQUITY>                                            467,112 
<SALES>                                                                       0 
<TOTAL-REVENUES>                                                              0 
<CGS>                                                                         0 
<TOTAL-COSTS>                                                                 0 
<OTHER-EXPENSES>                                                        160,228 
<LOSS-PROVISION>                                                     (2,677,898)
<INTEREST-EXPENSE>                                                        7,453 
<INCOME-PRETAX>                                                      (2,713,267)
<INCOME-TAX>                                                                  0 
<INCOME-CONTINUING>                                                  (2,766,652)
<DISCONTINUED>                                                                0 
<EXTRAORDINARY>                                                          53,385 
<CHANGES>                                                                     0 
<NET-INCOME>                                                         (2,713,267)
<EPS-PRIMARY>                                                              (.58)
<EPS-DILUTED>                                                              (.58)
                                                                     

</TABLE>