<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> SEP-30-1999 <CASH> 9,589,565 <SECURITIES> 27,857,096 <RECEIVABLES> 230,670 <ALLOWANCES> 2,766 <INVENTORY> 0 <CURRENT-ASSETS> 44,616,075 <PP&E> 1,981,815 <DEPRECIATION> 156,354 <TOTAL-ASSETS> 46,498,973 <CURRENT-LIABILITIES> 5,806,862 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 14,426 <OTHER-SE> 36,432,603 <TOTAL-LIABILITY-AND-EQUITY> 46,498,973 <SALES> 136,127 <TOTAL-REVENUES> 136,127 <CGS> 0 <TOTAL-COSTS> 22,213,954 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 212,587 <INCOME-PRETAX> (21,742,548) <INCOME-TAX> 0 <INCOME-CONTINUING> (21,742,548) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (21,742,548) <EPS-BASIC> (1.96) <EPS-DILUTED> (1.96)