<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> JUN-30-1999 <CASH> 14,001 <SECURITIES> 24,874 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 40,861 <PP&E> 18,455 <DEPRECIATION> 5,277 <TOTAL-ASSETS> 57,236 <CURRENT-LIABILITIES> 2,819 <BONDS> 7,300 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 114 <OTHER-SE> 47,003 <TOTAL-LIABILITY-AND-EQUITY> 57,236 <SALES> 0 <TOTAL-REVENUES> 125 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 7,386 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 209 <INCOME-PRETAX> (6,864) <INCOME-TAX> 0 <INCOME-CONTINUING> (6,864) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (6,864) <EPS-BASIC> (.69) <EPS-DILUTED> (.69)