<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1997 <CASH> 4,844,024 <SECURITIES> 0 <RECEIVABLES> 11,382 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,906,116 <PP&E> 1,425,700 <DEPRECIATION> (522,784) <TOTAL-ASSETS> 7,406,414 <CURRENT-LIABILITIES> 221,773 <BONDS> 0 <PREFERRED-MANDATORY> 119,085 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 7,406,414 <SALES> 229,678 <TOTAL-REVENUES> 229,678 <CGS> 0 <TOTAL-COSTS> 3,890,845 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (3,482,481) <INCOME-TAX> 0 <INCOME-CONTINUING> (3,482,481) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,482,481) <EPS-PRIMARY> (.30) <EPS-DILUTED> (.30)