<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 981,932 <SECURITIES> 8,462,130 <RECEIVABLES> 184,434 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 9,759,866 <PP&E> 3,304,274 <DEPRECIATION> 176,813 <TOTAL-ASSETS> 14,903,543 <CURRENT-LIABILITIES> 1,844,293 <BONDS> 200,930 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 23,188,363 <OTHER-SE> (10,330,043) <TOTAL-LIABILITY-AND-EQUITY> 14,903,543 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> (4,430,164) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (3,843,689) <INCOME-TAX> 0 <INCOME-CONTINUING> (3,843,689) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,843,689) <EPS-PRIMARY> (0.71) <EPS-DILUTED> (0.71)