<ARTICLE> 5 <PERIOD-TYPE> 3-MOS 6-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 <PERIOD-START> APR-01-1997 JAN-01-1997 <PERIOD-END> JUN-30-1997 JUN-30-1997 <CASH> 0 16,014,232 <SECURITIES> 0 9,125,577 <RECEIVABLES> 0 7,274,660 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 0 33,130,278 <PP&E> 0 4,328,851 <DEPRECIATION> 0 0 <TOTAL-ASSETS> 0 37,934,960 <CURRENT-LIABILITIES> 0 25,594,223 <BONDS> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 0 147,836 <OTHER-SE> 0 10,498,277 <TOTAL-LIABILITY-AND-EQUITY> 0 37,934,960 <SALES> 0 0 <TOTAL-REVENUES> 8,806,575 17,575,721 <CGS> 4,238,804 8,832,832 <TOTAL-COSTS> 11,042,099 20,313,753 <OTHER-EXPENSES> 0 0 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 161,443 854,160 <INCOME-PRETAX> 0 0 <INCOME-TAX> 0 0 <INCOME-CONTINUING> 0 0 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (6,150,930) (10,974,946) <EPS-PRIMARY> $(.39) $(.69) <EPS-DILUTED> 0 0