<ARTICLE> 5 <PERIOD-TYPE> YEAR 6-MOS <FISCAL-YEAR-END> DEC-31-1996 DEC-31-1997 <PERIOD-START> JAN-01-1996 JAN-01-1997 <PERIOD-END> DEC-31-1996 JUN-30-1997 <CASH> 14,737,806 4,971,916 <SECURITIES> 4,857,163 6,523,710 <RECEIVABLES> 3,275,518 4,352,334 <ALLOWANCES> 383,350 581,219 <INVENTORY> 60,543 80,270 <CURRENT-ASSETS> 23,528,266 16,535,286 <PP&E> 3,462,153 5,644,834 <DEPRECIATION> 783,355 1,625,579 <TOTAL-ASSETS> 26,468,158 22,147,854 <CURRENT-LIABILITIES> 6,634,922 7,656,583 <BONDS> 0 991,268 <PREFERRED-MANDATORY> 23,153,494 23,264,467 <PREFERRED> 932,385 932,385 <COMMON> 46,450 88,617 <OTHER-SE> (4,299,093) (10,785,466) <TOTAL-LIABILITY-AND-EQUITY> 26,468,158 22,147,854 <SALES> 0 0 <TOTAL-REVENUES> 14,012,388 13,366,177 <CGS> 0 0 <TOTAL-COSTS> 2,185,524 3,054,277 <OTHER-EXPENSES> 15,843,408 17,119,451 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 0 0 <INCOME-PRETAX> (3,789,245) (6,371,786) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (3,789,245) (6,371,786) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (3,789,245) (6,371,786) <EPS-PRIMARY> 0 0 <EPS-DILUTED> 0 0