<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 1,711,000 <SECURITIES> 0 <RECEIVABLES> 450,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 5,733,000 <CURRENT-LIABILITIES> 98,000 <BONDS> 0 <COMMON> 1,434,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 3,694,000 <TOTAL-LIABILITY-AND-EQUITY> 5,733,000 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 141,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> (84,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (84,000) <EPS-PRIMARY> 0 <EPS-DILUTED> (.07)