<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the unaudited Balance Sheet as of September 30, 1996 and the unaudited Statement of Operations for the nine months ended September 30, 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-END> SEP-30-1996 <CASH> 855999 <SECURITIES> 0 <RECEIVABLES> 87321 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 943320 <PP&E> 705118<F1> <DEPRECIATION> 0 <TOTAL-ASSETS> 1760948 <CURRENT-LIABILITIES> 465117 <BONDS> 2062730 <PREFERRED-MANDATORY> 0 <PREFERRED> 449 <COMMON> 5201 <OTHER-SE> (772549) <TOTAL-LIABILITY-AND-EQUITY> 1760948 <SALES> 46455 <TOTAL-REVENUES> 46455 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1509683 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 112797 <INCOME-PRETAX> (2326049) <INCOME-TAX> 0 <INCOME-CONTINUING> (2326049) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (2326049) <EPS-PRIMARY> (.45) <EPS-DILUTED> (.45) <FN> <F1>Net of accumulated depreciation. </FN>