<ARTICLE> BD <RESTATED> <PERIOD-TYPE> 9-MOS 9-MOS <FISCAL-YEAR-END> DEC-31-1999 DEC-31-1998 <PERIOD-START> JAN-01-1999 JAN-01-1998 <PERIOD-END> SEP-30-1999 SEP-30-1998 <CASH> 0 0 <RECEIVABLES> 50,375,641 56,423,017 <SECURITIES-RESALE> 0 0 <SECURITIES-BORROWED> 0 0 <INSTRUMENTS-OWNED> 0 0 <PP&E> 0 0 <TOTAL-ASSETS> 50,375,641 56,423,017 <SHORT-TERM> 0 0 <PAYABLES> 659,700 259,704 <REPOS-SOLD> 0 0 <SECURITIES-LOANED> 0 0 <INSTRUMENTS-SOLD> 0 0 <LONG-TERM> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 0 0 <OTHER-SE> 49,715,941 56,163,313 <TOTAL-LIABILITY-AND-EQUITY> 50,375,641 56,423,017 <TRADING-REVENUE> 0 0 <INTEREST-DIVIDENDS> 0 0 <COMMISSIONS> 0 0 <INVESTMENT-BANKING-REVENUES> (1,134,309) 3,872,096 <FEE-REVENUE> 0 0 <INTEREST-EXPENSE> 0 0 <COMPENSATION> 0 0 <INCOME-PRETAX> (1,134,309) 3,872,096 <INCOME-PRE-EXTRAORDINARY> (1,134,309) 3,872,096 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (1,134,309) 3,872,096 <EPS-BASIC> (4.93) 14.31 <EPS-DILUTED> (4.93) 14.31