<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1997 <CASH> 6,841,069 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,944,117 <PP&E> 1,413,440 <DEPRECIATION> (444,531) <TOTAL-ASSETS> 9,490,796 <CURRENT-LIABILITIES> 365,594 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 118,885 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 9,104,146 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 1,243,876 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (1,209,622) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,209,622) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,209,622) <EPS-PRIMARY> (.11) <EPS-DILUTED> (.11)