<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> MAR-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 1,201,000 <SECURITIES> 0 <RECEIVABLES> 2,243,000 <ALLOWANCES> (976,000) <INVENTORY> 9,111,000 <CURRENT-ASSETS> 0<F1> <PP&E> 409,000 <DEPRECIATION> (300,000) <TOTAL-ASSETS> 12,471,000 <CURRENT-LIABILITIES> 0<F1> <BONDS> 21,641,000 <COMMON> 332,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 2,000,000 <OTHER-SE> (20,136,000) <TOTAL-LIABILITY-AND-EQUITY> 12,471,000 <SALES> 15,000 <TOTAL-REVENUES> 315,000 <CGS> 11,000 <TOTAL-COSTS> 28,000 <OTHER-EXPENSES> 273,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 643,000 <INCOME-PRETAX> (629,000) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (629,000) <EPS-PRIMARY> (.24) <EPS-DILUTED> (.24) <FN> <F1>CURRENT ASSETS AND CURRENT LIABILITIES VALUES ARE ZERO BECAUSE OF AN UNCLASSIFIED BALANCE SHEET </FN>