WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE>           6
<MULTIPLIER>        1
       
                                                  
<PERIOD-TYPE>                                        3 MOS
<FISCAL-YEAR-END>                                                DEC-31-1996
<PERIOD-END>                                                     MAR-31-1996
[CASH]                                                            10,170,000
[SECURITIES]                                                       1,704,000
<RECEIVABLES>                                                        180,000
[ALLOWANCES]                                                               0
[INVENTORY]                                                                0
[CURRENT-ASSETS]                                                  10,530,000
[PP&E]                                                             4,803,000
[DEPRECIATION]                                                     2,177,000
<TOTAL-ASSETS>                                                    14,860,000
[CURRENT-LIABILITIES]                                              1,186,000
[BONDS]                                                                    0
[COMMON]                                                              22,000
[PREFERRED-MANDATORY]                                                      0
[PREFERRED]                                                                0
[OTHER-SE]                                                        12,102,000
[TOTAL-LIABILITY-AND-EQUITY]                                      14,860,000
[SALES]                                                                    0
[TOTAL-REVENUES]                                                     685,000
[CGS]                                                                      0
[TOTAL-COSTS]                                                              0
[OTHER-EXPENSES]                                                           0
[LOSS-PROVISION]                                                           0
<INTEREST-EXPENSE>                                                    41,000
[INCOME-PRETAX]                                                   (2,073,000)
[INCOME-TAX]                                                                0
[INCOME-CONTINUING]                                               (2,073,000)
[DISCONTINUED]                                                              0
[EXTRAORDINARY]                                                             0
[CHANGES]                                                                   0
[NET-INCOME]                                                      (2,703,000)
[EPS-PRIMARY]                                                           (.10)
[EPS-DILUTED]                                                           (.10)