<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <CASH> 475,287 <SECURITIES> 9,082,923 <RECEIVABLES> 1,114,120 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 10,697,930 <PP&E> 1,314,808 <DEPRECIATION> 509,905 <TOTAL-ASSETS> 11,820,020 <CURRENT-LIABILITIES> 3,907,268 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 781 <COMMON> 6,589 <OTHER-SE> 7,792,682 <TOTAL-LIABILITY-AND-EQUITY> 11,820,020 <SALES> 251,535 <TOTAL-REVENUES> 338,034 <CGS> 6,549 <TOTAL-COSTS> 6,549 <OTHER-EXPENSES> 706,363 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 13,688 <INCOME-PRETAX> (388,566) <INCOME-TAX> 0 <INCOME-CONTINUING> (388,566) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (388,566) <EPS-PRIMARY> (.07) <EPS-DILUTED> (.07)