<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 65,430 <SECURITIES> 0 <RECEIVABLES> 7,244,048 <ALLOWANCES> 7,204,048 <INVENTORY> 0 <CURRENT-ASSETS> 105,430 <PP&E> 73,669 <DEPRECIATION> (29,028) <TOTAL-ASSETS> 150,071 <CURRENT-LIABILITIES> 19,888,457 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 117,136 <OTHER-SE> (19,876,837) <TOTAL-LIABILITY-AND-EQUITY> 150,071 <SALES> 4,279 <TOTAL-REVENUES> 4,279 <CGS> 0 <TOTAL-COSTS> 632,252 <OTHER-EXPENSES> (10,000) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 49,586 <INCOME-PRETAX> (667,559) <INCOME-TAX> 0 <INCOME-CONTINUING> (667,559) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (667,559) <EPS-PRIMARY> (0.03) <EPS-DILUTED> (0.03)