<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q
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>                                         205,838
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                 31,296,961
<CURRENT-ASSETS>                               205,838
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              32,003,956
<CURRENT-LIABILITIES>                        3,043,106
<BONDS>                                              0
<PREFERRED-MANDATORY>                        4,571,351
<PREFERRED>                                          0
<COMMON>                                     4,899,030
<OTHER-SE>                                   3,718,450
<TOTAL-LIABILITY-AND-EQUITY>                32,003,956
<SALES>                                      1,844,278
<TOTAL-REVENUES>                             1,854,174
<CGS>                                        1,903,789
<TOTAL-COSTS>                                2,624,305
<OTHER-EXPENSES>                               720,516
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              (770,131)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          (770,131)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (770,131)
<EPS-PRIMARY>                                   (0.18)
<EPS-DILUTED>                                        0