<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>                        9-MOS
<FISCAL-YEAR-END>                    DEC-31-1998
<PERIOD-END>                         SEP-30-1998
<CASH>                               14,551,345             
<SECURITIES>                         1,815,400            
<RECEIVABLES>                        151,475         
<ALLOWANCES>                         0                    
<INVENTORY>                          0   
<CURRENT-ASSETS>                     16,518,220                 
<PP&E>                               902,375   
<DEPRECIATION>                       0
<TOTAL-ASSETS>                       23,665,680               
<CURRENT-LIABILITIES>                410,205          
<BONDS>                              0      
<COMMON>                             524,157           
<PREFERRED-MANDATORY>                0               
<PREFERRED>                          0              
<OTHER-SE>                           20,146,710                     
<TOTAL-LIABILITY-AND-EQUITY>         23,665,680      
<SALES>                              0                    
<TOTAL-REVENUES>                     3,640,632             
<CGS>                                0          
<TOTAL-COSTS>                        1,863,693          
<OTHER-EXPENSES>                     0             
<LOSS-PROVISION>                     0           
<INTEREST-EXPENSE>                   0           
<INCOME-PRETAX>                      1,748,519               
<INCOME-TAX>                         500,000        
<INCOME-CONTINUING>                  1,248,519           
<DISCONTINUED>                       0       
<EXTRAORDINARY>                      0          
<CHANGES>                            0        
<NET-INCOME>                         1,248,519           
<EPS-PRIMARY>                        0    
<EPS-DILUTED>                        0