<ARTICLE> 5 <MULTIPLIER> 1 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> DEC-31-1996 <CASH> 2,153,000 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,180,000 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 2,180,000 <CURRENT-LIABILITIES> 1,041,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 12,737,000 <OTHER-SE> (11,598,000) <TOTAL-LIABILITY-AND-EQUITY> 2,180,000 <SALES> 0 <TOTAL-REVENUES> 732,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 443,000 <INCOME-PRETAX> (287,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (287,000) <DISCONTINUED> 0 <EXTRAORDINARY> (1,508,000) <CHANGES> 0 <NET-INCOME> (1,795,000) <EPS-PRIMARY> (.64) <EPS-DILUTED> (.64)