<ARTICLE> 5 <LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> JUN-30-1999 <CASH> 50,907,296 <SECURITIES> 0 <RECEIVABLES> 25,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 51,254,060 <PP&E> 4,148,482 <DEPRECIATION> (586,766) <TOTAL-ASSETS> 56,000,685 <CURRENT-LIABILITIES> 1,449,265 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 17,185 <OTHER-SE> 54,534,235 <TOTAL-LIABILITY-AND-EQUITY> 56,000,685 <SALES> 0 <TOTAL-REVENUES> 27,171 <CGS> 0 <TOTAL-COSTS> 5,989,799 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 216,182 <INCOME-PRETAX> (6,129,059) <INCOME-TAX> 2,824,069 <INCOME-CONTINUING> (3,304,990) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,304,990) <EPS-BASIC> (0.25) <EPS-DILUTED> (0.25)