<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AND STATEMENT OF OPERATION AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                       3,365,609
<SECURITIES>                                 4,500,000
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             8,216,279
<PP&E>                                       1,689,995
<DEPRECIATION>                                  88,708
<TOTAL-ASSETS>                              10,626,955
<CURRENT-LIABILITIES>                        4,616,315
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    49,622,782
<OTHER-SE>                                (51,324,275)
<TOTAL-LIABILITY-AND-EQUITY>                10,626,955
<SALES>                                              0
<TOTAL-REVENUES>                                36,262
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                            12,975,391
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              75,071
<INCOME-PRETAX>                           (13,158,566)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                              (13,158,566)
<EPS-PRIMARY>                                   (1.02)
<EPS-DILUTED>                                   (1.02)