<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEETS OF THE COMPANY AS OF DECEMBER 31, 1997 AND MARCH 31, 1998 </LEGEND> <PERIOD-TYPE> YEAR 3-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1998 <PERIOD-START> JAN-01-1997 JAN-01-1998 <PERIOD-END> DEC-31-1997 MAR-31-1998 <CASH> 274,000 66,759,659 <SECURITIES> 0 0 <RECEIVABLES> 469,000 3,502,985 <ALLOWANCES> (10,000) (10,000) <INVENTORY> 0 940,000 <CURRENT-ASSETS> 1,287,000 71,957,272 <PP&E> 22,197,000 33,796,973 <DEPRECIATION> (2,877,000) (4,402,272) <TOTAL-ASSETS> 21,086,000 137,770,348 <CURRENT-LIABILITIES> 8,108,000 12,149,089 <BONDS> 42,649,000 139,936,749 <PREFERRED-MANDATORY> 1,000,000 1,000,000 <PREFERRED> 0 0 <COMMON> 14,000 92,655 <OTHER-SE> 11,824,000 53,712,223 <TOTAL-LIABILITY-AND-EQUITY> 21,086,000 137,770,348 <SALES> 0 0 <TOTAL-REVENUES> 1,555,000 1,880,026 <CGS> 0 0 <TOTAL-COSTS> 31,037,000 25,412,384 <OTHER-EXPENSES> 0 0 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 4,356,000 3,419,282 <INCOME-PRETAX> (33,636,000) (26,657,969) <INCOME-TAX> 0 (25,000) <INCOME-CONTINUING> (33,636,000) (26,682,969) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (33,706,000) (26,682,969) <EPS-PRIMARY> (5.19) (3.65) <EPS-DILUTED> (5.19) (3.65)