<ARTICLE> 5 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 21,379,845 <SECURITIES> 0 <RECEIVABLES> 93,225 <ALLOWANCES> 4,290 <INVENTORY> 0 <CURRENT-ASSETS> 21,538,138 <PP&E> 823,128 <DEPRECIATION> (238,527) <TOTAL-ASSETS> 22,130,008 <CURRENT-LIABILITIES> 590,896 <BONDS> 7,608 <PREFERRED-MANDATORY> 0 <PREFERRED> 1,280 <COMMON> 9,377 <OTHER-SE> 21,520,847 <TOTAL-LIABILITY-AND-EQUITY> 21,531,504 <SALES> 0 <TOTAL-REVENUES> 143,541 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 5,601,125 <LOSS-PROVISION> 4,290 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> (5,265,183) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (5,265,183) <EPS-PRIMARY> (0.90) <EPS-DILUTED> (0.90)