<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 454,757 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 819,408 <CURRENT-LIABILITIES> 267,869 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 551,539 <TOTAL-LIABILITY-AND-EQUITY> 819,408 <SALES> 0 <TOTAL-REVENUES> 85 <CGS> 0 <TOTAL-COSTS> (4,401) <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 6,385 <INCOME-PRETAX> 2,069 <INCOME-TAX> 0 <INCOME-CONTINUING> 2,069 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,069 <EPS-PRIMARY> .18 <EPS-DILUTED> .18