<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ITEM 1 FINANCIAL STATEMENTS ITEM 4 N AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> MAR-31-1996 <CASH> 10,974,019 <SECURITIES> 0 <RECEIVABLES> 127,800 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 11,283,698 <PP&E> 1,326,640 <DEPRECIATION> 480,758 <TOTAL-ASSETS> 12,401,959 <CURRENT-LIABILITIES> 2,704,831 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 9,697,128 <TOTAL-LIABILITY-AND-EQUITY> 12,401,959 <SALES> 190,141 <TOTAL-REVENUES> 190,141 <CGS> 0 <TOTAL-COSTS> 3,213,823 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 58,916 <INCOME-PRETAX> (3,015,320) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,015,320) <EPS-PRIMARY> (.50) <EPS-DILUTED> (.50)