<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 603 <SECURITIES> 24,737 <RECEIVABLES> 1,066 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 27,348 <PP&E> 26,060 <DEPRECIATION> (3,880) <TOTAL-ASSETS> 50,390 <CURRENT-LIABILITIES> 7,883 <BONDS> 0 <PREFERRED-MANDATORY> 87,165 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (53,253) <TOTAL-LIABILITY-AND-EQUITY> 50,390 <SALES> 0 <TOTAL-REVENUES> 2,932 <CGS> 0 <TOTAL-COSTS> 10,081 <OTHER-EXPENSES> 2,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 466 <INCOME-PRETAX> (10,727) <INCOME-TAX> 0 <INCOME-CONTINUING> (10,727) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (10,727) <EPS-PRIMARY> (0.82) <EPS-DILUTED> 0