<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> APR-01-1996 <PERIOD-END> JUN-30-1997 <CASH> 777,461 <SECURITIES> 948,000 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,782,958 <PP&E> 57,259 <DEPRECIATION> 12,728 <TOTAL-ASSETS> 1,916,290 <CURRENT-LIABILITIES> 148,554 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 2,000 <COMMON> 89,373 <OTHER-SE> 1,676,363 <TOTAL-LIABILITY-AND-EQUITY> 1,916,290 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 415,064 <OTHER-EXPENSES> 430,213 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (809,715) <INCOME-TAX> 0 <INCOME-CONTINUING> (809,715) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (809,715) <EPS-PRIMARY> (0.09) <EPS-DILUTED> (0.09)