<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 1,452,130 <SECURITIES> 2,020,392 <RECEIVABLES> 122,637 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,117,185 <PP&E> 4,305,873 <DEPRECIATION> 992,468 <TOTAL-ASSETS> 7,484,431 <CURRENT-LIABILITIES> 2,868,003 <BONDS> 848,922 <PREFERRED-MANDATORY> 0 <PREFERRED> 2,546,994 <COMMON> 33,960,256 <OTHER-SE> (32,800,458) <TOTAL-LIABILITY-AND-EQUITY> 7,484,431 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 8,409,831 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 65,240 <INCOME-PRETAX> (8,475,071) <INCOME-TAX> 0 <INCOME-CONTINUING> (8,475,071) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (8,475,071) <EPS-BASIC> (1.40) <EPS-DILUTED> (1.40)