<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