<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 3,608,000 <SECURITIES> 0 <RECEIVABLES> 6,772,000 <ALLOWANCES> 159,000 <INVENTORY> 0 <CURRENT-ASSETS> 10,752,000 <PP&E> 10,903,000 <DEPRECIATION> 1,507,000 <TOTAL-ASSETS> 70,291,000 <CURRENT-LIABILITIES> 8,549,000 <BONDS> 71,911,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 37,000 <OTHER-SE> (10,412,000) <TOTAL-LIABILITY-AND-EQUITY> 70,291,000 <SALES> 23,168,000 <TOTAL-REVENUES> 23,168,000 <CGS> 0 <TOTAL-COSTS> 12,134,000 <OTHER-EXPENSES> 10,428,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,154,000 <INCOME-PRETAX> (5,548,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (5,548,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (5,548,000) <EPS-PRIMARY> (1.55) <EPS-DILUTED> (1.55)