<ARTICLE>                     5

<LEGEND>
This schedule contains summary financial information extracted from the
registrant's audited consolidated financial statements for the fiscal year ended
June 30, 2000 and is qualified  in its  entirety by reference to such  financial
statements.


<CURRENCY>                      U.S. Dollars


                             
<PERIOD-TYPE>                   Year
<FISCAL-YEAR-END>                              JUN-30-2000
<PERIOD-START>                                  JUL-1-1999
<PERIOD-END>                                   JUN-30-2000
<EXCHANGE-RATE>                                          1
<CASH>                                           3,129,593
<SECURITIES>                                     2,155,617
<RECEIVABLES>                                      953,163
<ALLOWANCES>                                             0
<INVENTORY>                                              0
<CURRENT-ASSETS>                                 6,508,165
<PP&E>                                           1,573,140
<DEPRECIATION>                                           0
<TOTAL-ASSETS>                                   8,885,397
<CURRENT-LIABILITIES>                            1,012,070
<BONDS>                                                  0
<PREFERRED-MANDATORY>                                    0
<PREFERRED>                                          7,336
<COMMON>                                            79,024
<OTHER-SE>                                       6,818,801
<TOTAL-LIABILITY-AND-EQUITY>                     8,885,397
<SALES>                                                  0
<TOTAL-REVENUES>                                 5,117,111
<CGS>                                                    0
<TOTAL-COSTS>                                   13,676,892
<OTHER-EXPENSES>                                         0
<LOSS-PROVISION>                                         0
<INTEREST-EXPENSE>                                  29,247
<INCOME-PRETAX>                                 (8,183,438)
<INCOME-TAX>                                             0
<INCOME-CONTINUING>                             (8,183,438)
<DISCONTINUED>                                           0
<EXTRAORDINARY>                                          0
<CHANGES>                                                0
<NET-INCOME>                                    (8,183,438)
<EPS-BASIC>                                          (1.10)
<EPS-DILUTED>                                        (1.10)