<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>
This schedule contains summary financial  information  extracted from the Annual
Report on Form 10-K for the year ended April 30, 1997 and the  Quarterly  Report
on Form 10-Q for the quarter and six months ended July 31, 1997 and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>                                                       1,000
       
<S>                                                                  <C>
<PERIOD-TYPE>                                                  6-MOS
<FISCAL-YEAR-END>                              APR-30-1998
<PERIOD-START>                                      MAY-1-1997
<PERIOD-END>                                           OCT-31-1997
<CASH>                                                          15,761
<SECURITIES>                                                         0
<RECEIVABLES>                                                    9,000
<ALLOWANCES>                                                         0
<INVENTORY>                                                          0
<CURRENT-ASSETS>                                                15,967
<PP&E>                                                             864
<DEPRECIATION>                                                    (670)
<TOTAL-ASSETS>                                                  25,113
<CURRENT-LIABILITIES>                                            1,752
<BONDS>                                                         (3,553)
<PREFERRED-MANDATORY>                                                0
<PREFERRED>                                                          0
<COMMON>                                                       (38,276)
<OTHER-SE>                                                      (1,245)
<TOTAL-LIABILITY-AND-EQUITY>                                   (25,113)
<SALES>                                                              0
<TOTAL-REVENUES>                                                   353
<CGS>                                                                0
<TOTAL-COSTS>                                                        0
<OTHER-EXPENSES>                                                 2,420
<LOSS-PROVISION>                                                     0
<INTEREST-EXPENSE>                                               1,571<F1>
<INCOME-PRETAX>                                                 (4,666)
<INCOME-TAX>                                                         0
<INCOME-CONTINUING>                                             (4,313)
<DISCONTINUED>                                                       0
<EXTRAORDINARY>                                                      0
<CHANGES>                                                            0
<NET-INCOME>                                                    (4,313)
<EPS-PRIMARY>                                                    (0.33)<F1>
<EPS-DILUTED>                                                    (0.33)<F1>
<FN>
<F1>NON-CASH INTEREST EXPENSE IS COMPRISED OF NON-CASH INTEREST EXPENSE FOR
    CONVERTIBLE DEBENTURE. $0.10 OF THE $0.33 LOSS PER SHARE RELATES TO THE
    AMORTIZED NON-CASH INTEREST EXPENSE.
</FN>