<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> SEP-30-1997 <PERIOD-START> OCT-01-1996 <PERIOD-END> DEC-31-1996 <CASH> 6,481,000 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 8,230,000 <PP&E> 1,640,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 8,230,000 <CURRENT-LIABILITIES> 572,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 7,658,000 <TOTAL-LIABILITY-AND-EQUITY> 8,230,000 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 358,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 514,000 <INCOME-TAX> 0 <INCOME-CONTINUING> 156,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 156,000 <EPS-PRIMARY> .03 <EPS-DILUTED> .03