WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                5
<LEGEND>
THIS DOCUMENT CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THECOMPANY'S 10-QSB DATED NOVEMBER 30, 1996 AND IS QUALIFIED IN ITS
ENTIRETY BYREFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<PERIOD-TYPE>                   03-MOS
<FISCAL-YEAR-END>               AUG-31-1997
<PERIOD-END>                    NOV-30-1996
<CASH>                              327,883
<SECURITIES>                          3,429
<RECEIVABLES>                             0
<ALLOWANCES>                              0
<INVENTORY>                               0
<CURRENT-ASSETS>                    339,287
<PP&E>                               17,238
<DEPRECIATION>                       12,804
<TOTAL-ASSETS>                   18,932,659
<CURRENT-LIABILITIES>                66,833
<BONDS>                                   0
<COMMON>                            261,584
<PREFERRED-MANDATORY>                     0
<PREFERRED>                           2,033
<OTHER-SE>                        4,284,220
<TOTAL-LIABILITY-AND-EQUITY>     18,932,659
<SALES>                                   0
<TOTAL-REVENUES>                          0
<CGS>                                     0
<TOTAL-COSTS>                        79,410
<OTHER-EXPENSES>                          0
<LOSS-PROVISION>                          0
<INTEREST-EXPENSE>                   49,580
<INCOME-PRETAX>                    (123,287)
<INCOME-TAX>                              0
<INCOME-CONTINUING>                (123,287)
<DISCONTINUED>                            0
<EXTRAORDINARY>                           0
<CHANGES>                                 0
<NET-INCOME>                       (123,287)
<EPS-PRIMARY>                         (0.01)
<EPS-DILUTED>                             0
                                                                   
        

</TABLE>