<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, 1997 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                       1,472,610
<SECURITIES>                                 7,501,257
<RECEIVABLES>                                  615,343
<ALLOWANCES>                                         0
<INVENTORY>                                    213,169
<CURRENT-ASSETS>                            10,441,764
<PP&E>                                       3,290,653
<DEPRECIATION>                             (1,375,822)
<TOTAL-ASSETS>                              14,445,767
<CURRENT-LIABILITIES>                        1,367,300
<BONDS>                                        132,285
<PREFERRED-MANDATORY>                       12,268,689
<PREFERRED>                                          0
<COMMON>                                     3,396,693
<OTHER-SE>                                 (2,792,983)
<TOTAL-LIABILITY-AND-EQUITY>                   603,710
<SALES>                                              0
<TOTAL-REVENUES>                             4,234,688
<CGS>                                                0
<TOTAL-COSTS>                                3,877,326
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                357,362
<INCOME-TAX>                                   154,689
<INCOME-CONTINUING>                            202,673
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   202,673
<EPS-PRIMARY>                                     0.01
<EPS-DILUTED>                                        0