<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEETS AT JUNE 30, 1998 AND SEPTEMBER 30, 1998 AND THE STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 1998 AND FOR THE THREE MONTHS
PERIOD ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   YEAR                   3-MOS
<FISCAL-YEAR-END>                          JUN-30-1998             SEP-30-1998
<PERIOD-START>                             JUL-01-1997             JUL-01-1998
<PERIOD-END>                               JUN-30-1998             JUN-30-1999
<CASH>                                      19,810,656              11,183,520
<SECURITIES>                                51,302,916              51,876,427
<RECEIVABLES>                                  184,180                 262,575
<ALLOWANCES>                                     5,400                   5,400
<INVENTORY>                                    362,738                 540,243
<CURRENT-ASSETS>                            62,248,367              54,253,278
<PP&E>                                      21,079,307              28,657,992
<DEPRECIATION>                               2,630,706               3,494,521
<TOTAL-ASSETS>                              94,578,127              93,535,575
<CURRENT-LIABILITIES>                        5,109,226              10,397,601
<BONDS>                                     70,394,201              70,506,897
<PREFERRED-MANDATORY>                       39,133,924              39,825,629
<PREFERRED>                                          0                       0
<COMMON>                                         4,318                   4,318
<OTHER-SE>                                           0                       0
<TOTAL-LIABILITY-AND-EQUITY>                94,578,127              93,535,575
<SALES>                                        568,942               1,723,787
<TOTAL-REVENUES>                               568,942               1,723,787
<CGS>                                        1,023,904               2,707,298
<TOTAL-COSTS>                                1,023,904               2,707,298
<OTHER-EXPENSES>                             1,716,695               3,602,680
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                               9,709               2,644,737
<INCOME-PRETAX>                             (2,055,094)             (7,173,386)
<INCOME-TAX>                                         0                       0
<INCOME-CONTINUING>                         (2,055,094)             (7,173,386)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                (2,055,094)             (7,173,386)
<EPS-PRIMARY>                                   (0.600)                  (1.66)
<EPS-DILUTED>                                        0                       0
        

</TABLE>