<ARTICLE> 5
       
                                                                       
<PERIOD-TYPE>                   YEAR                      3-MOS                
<FISCAL-YEAR-END>                          DEC-31-1995               DEC-31-1996
<PERIOD-START>                             JAN-09-1995               JAN-01-1996
<PERIOD-END>                               DEC-31-1995               MAR-31-1996
<CASH>                                     123,357,510               104,010,918
<SECURITIES>                                         0                         0
<RECEIVABLES>                                        0                         0
<ALLOWANCES>                                         0                         0
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<DEPRECIATION>                                 130,852                   328,293
<TOTAL-ASSETS>                             149,618,649               166,369,727
<CURRENT-LIABILITIES>                        2,396,404                 1,836,672
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<PREFERRED>                                          0                         0
<COMMON>                                       221,309                   228,531
<OTHER-SE>                                 147,000,936               164,304,524
<TOTAL-LIABILITY-AND-EQUITY>               149,618,649               166,369,727
<SALES>                                              0                         0
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<CGS>                                                0                         0
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<INCOME-PRETAX>                            (1,307,422)                 (429,310)
<INCOME-TAX>                                         0                         0
<INCOME-CONTINUING>                        (1,307,422)                 (429,310)
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<EXTRAORDINARY>                                      0                         0
<CHANGES>                                            0                         0
<NET-INCOME>                               (1,307,422)                 (429,310)
<EPS-PRIMARY>                                    (.10)                     (.02)
<EPS-DILUTED>                                    (.10)                     (.02)