<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>                                                   0<F1>
<PP&E>                                                                       864
<DEPRECIATION>                                                   (670)
<TOTAL-ASSETS>                                               25,113
<CURRENT-LIABILITIES>                                          0<F1>
<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<F2>
<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)<F2>
<EPS-DILUTED>                                                   (0.33)<F2>
<FN>
<F1>REGISTRANT HAS AN UNCLASSIFIED BALANCE SHEET
<F2>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>