<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1998 <CASH> 9,790,000 <SECURITIES> 0 <RECEIVABLES> 646,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 10,436,000 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 10,436,000 <CURRENT-LIABILITIES> 479,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,350,384 <OTHER-SE> 8,606,616 <TOTAL-LIABILITY-AND-EQUITY> 10,436,000 <SALES> 0 <TOTAL-REVENUES> 485,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 301,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 184,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 184,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 184,000 <EPS-PRIMARY> .14 <EPS-DILUTED> .14