<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-31-1998  
<PERIOD-END>                           JUN-30-1998 
<CASH>                                 13,732,860
<SECURITIES>                           1,953,159
<RECEIVABLES>                          109,220
<ALLOWANCES>                           0
<INVENTORY>                            0
<CURRENT-ASSETS>                       15,795,239 
<PP&E>                                 899,859
<DEPRECIATION>                         0
<TOTAL-ASSETS>                         24,791,370
<CURRENT-LIABILITIES>                  372,355
<BONDS>                                0 
<COMMON>                               524,157
<PREFERRED-MANDATORY>                  0    
<PREFERRED>                            0
<OTHER-SE>                             20,654,922                
<TOTAL-LIABILITY-AND-EQUITY>           24,791,370
<SALES>                                0
<TOTAL-REVENUES>                       2,293,649
<CGS>                                  0
<TOTAL-COSTS>                          1,386,474
<OTHER-EXPENSES>                       0
<LOSS-PROVISION>                       0
<INTEREST-EXPENSE>                     0
<INCOME-PRETAX>                        883,246
<INCOME-TAX>                           162,000
<INCOME-CONTINUING>                    721,246
<DISCONTINUED>                         0   
<EXTRAORDINARY>                        0
<CHANGES>                              0
<NET-INCOME>                           721,246 
<EPS-PRIMARY>                          0 
<EPS-DILUTED>                          0