<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   YEAR                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1995
<PERIOD-END>                               DEC-31-1996             DEC-31-1995
<CASH>                                      10,620,477               3,365,603
<SECURITIES>                                    43,795                  43,795
<RECEIVABLES>                                1,241,430                  43,642
<ALLOWANCES>                                         0                       0
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                            11,905,702               3,453,522
<PP&E>                                     159,713,568                 675,515
<DEPRECIATION>                                 111,334                  37,671
<TOTAL-ASSETS>                             171,533,207               4,170,437
<CURRENT-LIABILITIES>                        2,805,665                 120,305
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                 45,652,120                       0
<COMMON>                                     6,781,384               6,170,117
<OTHER-SE>                                 119,548,227                       0
<TOTAL-LIABILITY-AND-EQUITY>               171,533,207               4,170,437
<SALES>                                        233,682                       0
<TOTAL-REVENUES>                               575,281                 152,383
<CGS>                                                0                       0
<TOTAL-COSTS>                                2,831,815               2,272,368
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                   0                       0
<INCOME-PRETAX>                            (2,256,534)             (2,119,985)
<INCOME-TAX>                                     2,338                       0
<INCOME-CONTINUING>                        (2,194,637)             (2,119,985)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                               (2,194,637)             (2,119,985)
<EPS-PRIMARY>                                    (.17)                   (.23)
<EPS-DILUTED>                                        0                       0