<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 18,670 <SECURITIES> 15,649 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 35,102 <PP&E> 17,703 <DEPRECIATION> 3,448 <TOTAL-ASSETS> 49,357 <CURRENT-LIABILITIES> 2,208 <BONDS> 8,302 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 96 <OTHER-SE> 38,751 <TOTAL-LIABILITY-AND-EQUITY> 49,357 <SALES> 0 <TOTAL-REVENUES> 265 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 10,019 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 417 <INCOME-PRETAX> (8,592) <INCOME-TAX> 0 <INCOME-CONTINUING> (8,592) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (8,592) <EPS-PRIMARY> (.90) <EPS-DILUTED> (.90)