<ARTICLE>                     5

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              JUN-30-2000
<PERIOD-START>                                 JUL-01-1999
<PERIOD-END>                                   DEC-31-1999
<CASH>                                            767,106
<SECURITIES>                                   58,029,360
<RECEIVABLES>                                           0
<ALLOWANCES>                                     (380,000)
<INVENTORY>                                             0
<CURRENT-ASSETS>                                        0
<PP&E>                                            417,888
<DEPRECIATION>                                    291,220
<TOTAL-ASSETS>                                 61,891,295
<CURRENT-LIABILITIES>                          48,488,341
<BONDS>                                                 0
<PREFERRED-MANDATORY>                                   0
<PREFERRED>                                             0
<COMMON>                                       13,402,954
<OTHER-SE>                                              0
<TOTAL-LIABILITY-AND-EQUITY>                   61,891,295
<SALES>                                                 0
<TOTAL-REVENUES>                                3,274,408
<CGS>                                                   0
<TOTAL-COSTS>                                           0
<OTHER-EXPENSES>                                1,405,770
<LOSS-PROVISION>                                        0
<INTEREST-EXPENSE>                              1,546,047
<INCOME-PRETAX>                                   322,591
<INCOME-TAX>                                       11,983
<INCOME-CONTINUING>                               310,608
<DISCONTINUED>                                          0
<EXTRAORDINARY>                                         0
<CHANGES>                                               0
<NET-INCOME>                                      310,608
<EPS-BASIC>                                          .178
<EPS-DILUTED>                                        .178