<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 3,284,024 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,102,440 <PP&E> 71,714 <DEPRECIATION> 0 <TOTAL-ASSETS> 5,213,362 <CURRENT-LIABILITIES> 2,389,702 <BONDS> 0 <COMMON> 61,719 <PREFERRED-MANDATORY> 0 <PREFERRED> 8,075 <OTHER-SE> 2,753,866 <TOTAL-LIABILITY-AND-EQUITY> 5,213,362 <SALES> 0 <TOTAL-REVENUES> 1,500,000 <CGS> 0 <TOTAL-COSTS> 3,586,094 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (1,962,563) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,962,563) <EPS-PRIMARY> (0.16) <EPS-DILUTED> 0