<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <EXCHANGE-RATE> 1 <CASH> 61,789 <SECURITIES> 702,000 <RECEIVABLES> 18,807 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 783,661 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 1,128,661 <CURRENT-LIABILITIES> 0 <BONDS> 0 <COMMON> 4,851 <PREFERRED-MANDATORY> 0 <PREFERRED> 109,356 <OTHER-SE> 286,144 <TOTAL-LIABILITY-AND-EQUITY> 1,128,661 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 22,636 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 252,839 <INCOME-TAX> 0 <INCOME-CONTINUING> 252,839 <DISCONTINUED> 0 <EXTRAORDINARY> 127,336 <CHANGES> 0 <NET-INCOME> 125,503 <EPS-PRIMARY> .01 <EPS-DILUTED> .01