<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 217,502 <SECURITIES> 0 <RECEIVABLES> 239,575 <ALLOWANCES> 0 <INVENTORY> 591,615 <CURRENT-ASSETS> 1,302,237 <PP&E> 1,463,540 <DEPRECIATION> (45,096) <TOTAL-ASSETS> 17,416,902 <CURRENT-LIABILITIES> 2,098,468 <BONDS> 5,168,249 <PREFERRED-MANDATORY> 223,787 <PREFERRED> 1,052,988 <COMMON> 4,966,529 <OTHER-SE> 3,809,428 <TOTAL-LIABILITY-AND-EQUITY> 17,416,902 <SALES> 631,832 <TOTAL-REVENUES> 631,832 <CGS> 425,262 <TOTAL-COSTS> 425,262 <OTHER-EXPENSES> 451,398 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 213,621 <INCOME-PRETAX> 514,259 <INCOME-TAX> 17,300 <INCOME-CONTINUING> 496,959 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 496,959 <EPS-PRIMARY> .04 <EPS-DILUTED> .03