<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> SEP-30-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 6,275,000 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 7,930,000 <PP&E> 1,650,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 7,930,000 <CURRENT-LIABILITIES> 267,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 50,000 <OTHER-SE> 7,613,000 <TOTAL-LIABILITY-AND-EQUITY> 7,930,999 <SALES> 0 <TOTAL-REVENUES> 337,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 332,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 5,000 <INCOME-TAX> 5,000 <INCOME-CONTINUING> 5,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 5,000 <EPS-PRIMARY> 0 <EPS-DILUTED> 0