<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> MAR-31-1999 <CASH> 951,000 <SECURITIES> 1,463,000 <RECEIVABLES> 803,000 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,294,000 <PP&E> 242,034 <DEPRECIATION> 78,966 <TOTAL-ASSETS> 3,633,000 <CURRENT-LIABILITIES> 1,301,000 <BONDS> 0 <PREFERRED-MANDATORY> 2,328,000 <PREFERRED> 2,000 <COMMON> 6,000 <OTHER-SE> (4,000) <TOTAL-LIABILITY-AND-EQUITY> 3,633,000 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,055,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (2,021,000) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (2,021,000) <EPS-PRIMARY> (0.36) <EPS-DILUTED> (0.36)