<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
COMPANY'S CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONTAINED IN THE 
COMPANY'S FORM 10-Q FOR THE PERIOD(S) ENDED OCTOBER 31, 1996 AND IS QUALIFIED 
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                                   
<PERIOD-TYPE>                         9-MOS
<FISCAL-YEAR-END>                                              JAN-31-1997
<PERIOD-START>                                                 FEB-01-1996
<PERIOD-END>                                                   OCT-31-1996
<CASH>                                                           1,290,686
<SECURITIES>                                                    27,968,903
<RECEIVABLES>                                                    4,506,087
<ALLOWANCES>                                                       185,000
<INVENTORY>                                                              0
<CURRENT-ASSETS>                                                34,051,468
<PP&E>                                                           2,352,913
<DEPRECIATION>                                                     466,312
<TOTAL-ASSETS>                                                  36,158,435
<CURRENT-LIABILITIES>                                            3,747,600
<BONDS>                                                                  0
<COMMON>                                                            88,965
<PREFERRED-MANDATORY>                                                    0
<PREFERRED>                                                              0
<OTHER-SE>                                                      32,321,870
<TOTAL-LIABILITY-AND-EQUITY>                                    36,158,435
<SALES>                                                          8,518,926
<TOTAL-REVENUES>                                                 8,518,926
<CGS>                                                            6,122,383
<TOTAL-COSTS>                                                   11,464,086
<OTHER-EXPENSES>                                                    79,684
<LOSS-PROVISION>                                                         0
<INTEREST-EXPENSE>                                                       0
<INCOME-PRETAX>                                                 (2,098,222)
<INCOME-TAX>                                                             0
<INCOME-CONTINUING>                                             (2,098,222)
<DISCONTINUED>                                                           0
<EXTRAORDINARY>                                                          0
<CHANGES>                                                                0
<NET-INCOME>                                                    (2,098,222)
<EPS-PRIMARY>                                                        (0.26)
<EPS-DILUTED>                                                            0