<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> SEP-30-1995 <CASH> 4,075 <SECURITIES> 2,714,812 <RECEIVABLES> 1,475,685 <ALLOWANCES> 64,000 <INVENTORY> 0 <CURRENT-ASSETS> 2,765,157 <PP&E> 12,760 <DEPRECIATION> 12,760 <TOTAL-ASSETS> 4,204,622 <CURRENT-LIABILITIES> 247,145 <BONDS> 0 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 3,957,477 <TOTAL-LIABILITY-AND-EQUITY> 4,204,622 <SALES> 0 <TOTAL-REVENUES> 202,873 <CGS> 0 <TOTAL-COSTS> 286,414 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (83,541) <INCOME-TAX> 0 <INCOME-CONTINUING> (83,541) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (83,541) <EPS-PRIMARY> (2.02) <EPS-DILUTED> (2.02)