<ARTICLE> 5 <PERIOD-TYPE> 3-MOS 9-MOS <FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 <PERIOD-START> JUL-01-1996 JAN-01-1996 <PERIOD-END> SEP-30-1996 SEP-30-1996 <CASH> 0 27,205,515 <SECURITIES> 0 7,048,657 <RECEIVABLES> 0 4,048,069 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 0 380,881 <PP&E> 0 4,079,880 <DEPRECIATION> 0 316,275 <TOTAL-ASSETS> 0 43,079,277 <CURRENT-LIABILITIES> 0 16,079,442 <BONDS> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 0 143,038 <OTHER-SE> 0 25,780,174 <TOTAL-LIABILITY-AND-EQUITY> 0 43,079,277 <SALES> 0 0 <TOTAL-REVENUES> 6,134,818 16,811,836 <CGS> 2,977,252 7,872,092 <TOTAL-COSTS> 7,217,281 53,545,449 <OTHER-EXPENSES> (200,579) 272,260 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 42,168 817,382 <INCOME-PRETAX> (4,302,462) (45,150,827) <INCOME-TAX> 0 0 <INCOME-CONTINUING> 0 0 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (4,302,462) (45,150,827) <EPS-PRIMARY> (.31) (3.737) <EPS-DILUTED> 0 0