<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-START> JAN-01-1995 <PERIOD-END> MAR-31-1995 <CASH> 6,751,779 <SECURITIES> 0 <RECEIVABLES> 161,973 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,913,752 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 10,461,416 <CURRENT-LIABILITIES> 25,396 <BONDS> 0 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 10,456,020 <TOTAL-LIABILITY-AND-EQUITY> 10,481,416 <SALES> 0 <TOTAL-REVENUES> 223,613 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 134,216 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 89,397 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 89,397 <EPS-PRIMARY> .05 <EPS-DILUTED> 0