<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-31-1999
<PERIOD-END>                         SEP-30-1999
<CASH>                               15,819,456
<SECURITIES>                         1,528,694
<RECEIVABLES>                        81,265
<ALLOWANCES>                         0
<INVENTORY>                          0
<CURRENT-ASSETS>                     17,429,415
<PP&E>                               845,408
<DEPRECIATION>                       0
<TOTAL-ASSETS>                       23,338,580
<CURRENT-LIABILITIES>                503,222
<BONDS>                              0
<COMMON>                             524,157
<PREFERRED-MANDATORY>                0
<PREFERRED>                          0
<OTHER-SE>                           20,321,697
<TOTAL-LIABILITY-AND-EQUITY>         23,338,580
<SALES>                              0
<TOTAL-REVENUES>                     2,458,921
<CGS>                                0
<TOTAL-COSTS>                        1,481,299
<OTHER-EXPENSES>                     0
<LOSS-PROVISION>                     0
<INTEREST-EXPENSE>                   0
<INCOME-PRETAX>                      978,050
<INCOME-TAX>                         350,000
<INCOME-CONTINUING>                  628,050
<DISCONTINUED>                       0
<EXTRAORDINARY>                      0
<CHANGES>                            0
<NET-INCOME>                         628,050
<EPS-BASIC>                        0
<EPS-DILUTED>                        0