<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> JUN-30-1999 <CASH> 30,045,049 <SECURITIES> 12,005,745 <RECEIVABLES> 260,062 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 42,459,074 <PP&E> 1,605,087 <DEPRECIATION> 417,186 <TOTAL-ASSETS> 43,796,975 <CURRENT-LIABILITIES> 4,271,549 <BONDS> 0 <COMMON> 173,666 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 39,351,761 <TOTAL-LIABILITY-AND-EQUITY> 43,796,975 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 11,506,079 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (10,429,892) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (10,429,892) <EPS-BASIC> (.60) <EPS-DILUTED> (.60)