<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-START> JAN-01-1995 <PERIOD-END> SEP-30-1995 <CASH> 98,313 <SECURITIES> 0 <RECEIVABLES> 2,157 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 118,611 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 2,254,429 <CURRENT-LIABILITIES> 314,603 <BONDS> 314,500 <COMMON> 4,456,308 <PREFERRED-MANDATORY> 340,454 <PREFERRED> 1,052,988 <OTHER-SE> (4,332,321) <TOTAL-LIABILITY-AND-EQUITY> 2,254,429 <SALES> 534 <TOTAL-REVENUES> 534 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 272,673 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 30,584 <INCOME-PRETAX> 604,277 <INCOME-TAX> 103,000 <INCOME-CONTINUING> 504,771 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 504,771 <EPS-PRIMARY> .04 <EPS-DILUTED> .04