<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <CASH> 773,981 <SECURITIES> 0 <RECEIVABLES> 514,125 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,288,106 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 1,288,106 <CURRENT-LIABILITIES> 680,552 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 607,554 <TOTAL-LIABILITY-AND-EQUITY> 1,288,106 <SALES> 122,695 <TOTAL-REVENUES> 122,695 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 70,233 <LOSS-PROVISION> 6,690 <INTEREST-EXPENSE> 1,512 <INCOME-PRETAX> 44,260 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 44,260 <EPS-PRIMARY> .41 <EPS-DILUTED> .41