<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 352,293,387 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 488,503 <CURRENT-ASSETS> 354,280,595 <PP&E> 96,663,661 <DEPRECIATION> 662,047 <TOTAL-ASSETS> 465,457,369 <CURRENT-LIABILITIES> 6,186,956 <BONDS> 0 <COMMON> 656,004 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 458,614,409 <TOTAL-LIABILITY-AND-EQUITY> 465,457,369 <SALES> 0 <TOTAL-REVENUES> 3,502,437 <CGS> 0 <TOTAL-COSTS> 7,090,577 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (14,444) <INCOME-TAX> 0 <INCOME-CONTINUING> (14,444) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (14,444) <EPS-PRIMARY> (.00) <EPS-DILUTED> (.00)