<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<CASH>                                       9,305,051
<SECURITIES>                                         0
<RECEIVABLES>                                  191,710
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            10,097,316
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              12,287,545
<CURRENT-LIABILITIES>                        2,525,404
<BONDS>                                              0
<COMMON>                                       874,471
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                   6,906,612
<TOTAL-LIABILITY-AND-EQUITY>                12,287,545
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             133,674
<INCOME-PRETAX>                            (7,442,852)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (7,442,852)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (7,442,852)
<EPS-PRIMARY>                                  ($0.38)
<EPS-DILUTED>                                  ($0.38)