<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited financial statements contained in the Company's quarterly report on
Form 10-Q for the quarter ended March 31, 1996 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                         878,785
<SECURITIES>                                 6,965,458
<RECEIVABLES>                                  579,584
<ALLOWANCES>                                         0
<INVENTORY>                                    136,329
<CURRENT-ASSETS>                             8,866,166
<PP&E>                                       2,521,696
<DEPRECIATION>                               (876,891)
<TOTAL-ASSETS>                              12,760,414
<CURRENT-LIABILITIES>                        1,169,040
<BONDS>                                        132,285
<PREFERRED-MANDATORY>                       12,682,750
<PREFERRED>                                          0
<COMMON>                                     3,802,071
<OTHER-SE>                                 (5,145,426)
<TOTAL-LIABILITY-AND-EQUITY>               (1,343,355)
<SALES>                                              0
<TOTAL-REVENUES>                             4,627,384
<CGS>                                                0
<TOTAL-COSTS>                                2,967,031
<OTHER-EXPENSES>                               231,024
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              1,429,329
<INCOME-TAX>                                   579,653
<INCOME-CONTINUING>                            849,676
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   849,676
<EPS-PRIMARY>                                     0.03
<EPS-DILUTED>                                        0