<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 444,306 <SECURITIES> 1,787,908 <RECEIVABLES> 3,418 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,235,632 <PP&E> 4,451,095 <DEPRECIATION> 9,698 <TOTAL-ASSETS> 6,677,029 <CURRENT-LIABILITIES> 33,277 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 7,565,416 <OTHER-SE> (921,664) <TOTAL-LIABILITY-AND-EQUITY> 6,677,029 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 158,583 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (158,583) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (158,583) <EPS-PRIMARY> (0.01) <EPS-DILUTED> (0.01)