<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q
SEPTEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                       1,354,111
<SECURITIES>                                         0
<RECEIVABLES>                                        0 
<ALLOWANCES>                                         0
<INVENTORY>                                 26,481,036
<CURRENT-ASSETS>                             1,354,111
<PP&E>                                               0 
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              28,307,200
<CURRENT-LIABILITIES>                        2,516,349
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     9,228,265
<OTHER-SE>                                  (2,201,021)
<TOTAL-LIABILITY-AND-EQUITY>                28,307,200
<SALES>                                      7,020,876
<TOTAL-REVENUES>                             7,061,282
<CGS>                                        7,248,129
<TOTAL-COSTS>                               13,664,388
<OTHER-EXPENSES>                             2,089,411
<LOSS-PROVISION>                             4,326,848
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                             (6,603,106)
<INCOME-TAX>                                         0 
<INCOME-CONTINUING>                         (6,603,106)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                (6,603,106)
<EPS-PRIMARY>                                    (1.01)
<EPS-DILUTED>                                        0