<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>                        3-MOS
<FISCAL-YEAR-END>                    DEC-31-1998
<PERIOD-END>                         MAR-31-1998
<CASH>                               13563040
<SECURITIES>                         2178277 
<RECEIVABLES>                        53255
<ALLOWANCES>                         0
<INVENTORY>                          0
<CURRENT-ASSETS>                     15794572
<PP&E>                               907530
<DEPRECIATION>                       0 
<TOTAL-ASSETS>                       25565159
<CURRENT-LIABILITIES>                760355
<BONDS>                              0
<COMMON>                             524157
<PREFERRED-MANDATORY>                0
<PREFERRED>                          0 
<OTHER-SE>                           20740627
<TOTAL-LIABILITY-AND-EQUITY>         25565159
<SALES>                              0
<TOTAL-REVENUES>                     892525
<CGS>                                0
<TOTAL-COSTS>                        407604 
<OTHER-EXPENSES>                     0
<LOSS-PROVISION>                     0
<INTEREST-EXPENSE>                   0 
<INCOME-PRETAX>                      478245
<INCOME-TAX>                         180000
<INCOME-CONTINUING>                  298245
<DISCONTINUED>                       0
<EXTRAORDINARY>                      0 
<CHANGES>                            0 
<NET-INCOME>                         298245
<EPS-PRIMARY>                        0
<EPS-DILUTED>                        0