<ARTICLE>    5
<LEGEND>
This schedule contains summary financial information extracted from the 
unaudited financial statements contained in the Company's Form 10-QSB and is 
qualified in its entirety by reference to such financial statements.
</LEGEND>
       
                                    
<PERIOD-TYPE>                          6-MOS
<FISCAL-YEAR-END>                      DEC-31-1996  
<PERIOD-END>                           JUN-30-1996 
<CASH>                                  7,770,794
<SECURITIES>                            2,584,174
<RECEIVABLES>                             107,217
<ALLOWANCES>                                    0
<INVENTORY>                                     0
<CURRENT-ASSETS>                       10,462,185 
<PP&E>                                  1,060,645
<DEPRECIATION>                                  0
<TOTAL-ASSETS>                         19,220,195
<CURRENT-LIABILITIES>                     965,371
<BONDS>                                         0 
<COMMON>                                  471,157
<PREFERRED-MANDATORY>                           0    
<PREFERRED>                                     0
<OTHER-SE>                             14,621,276                
<TOTAL-LIABILITY-AND-EQUITY>           19,220,195
<SALES>                                         0
<TOTAL-REVENUES>                        1,550,455
<CGS>                                           0
<TOTAL-COSTS>                             813,780
<OTHER-EXPENSES>                                0
<LOSS-PROVISION>                                0
<INTEREST-EXPENSE>                              0
<INCOME-PRETAX>                           728,174
<INCOME-TAX>                              255,000
<INCOME-CONTINUING>                       473,174
<DISCONTINUED>                                  0   
<EXTRAORDINARY>                                 0
<CHANGES>                                       0
<NET-INCOME>                              473,174 
<EPS-PRIMARY>                                 .05 
<EPS-DILUTED>                                 .05