<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> DEC-31-1998 <CASH> 19,802,033 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 312,398 <PP&E> 3,055,604 <DEPRECIATION> 2,330,876 <TOTAL-ASSETS> 20,933,695 <CURRENT-LIABILITIES> 19,577,843 <BONDS> 0 <PREFERRED-MANDATORY> 5,000,000 <PREFERRED> 0 <COMMON> 9,417 <OTHER-SE> (3,665,776) <TOTAL-LIABILITY-AND-EQUITY> 20,933,695 <SALES> 0 <TOTAL-REVENUES> 2,903,299 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 29,783,285 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 9,153 <INCOME-PRETAX> (29,558,052) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (29,558,052) <EPS-PRIMARY> (3.17) <EPS-DILUTED> 0