<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JUL-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 243,500 <SECURITIES> 5,500,400 <RECEIVABLES> 1,002,900 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 6,897,200 <PP&E> 2,136,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 9,049,400 <CURRENT-LIABILITIES> 582,500 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 4,960,600 <OTHER-SE> 3,506,300 <TOTAL-LIABILITY-AND-EQUITY> 9,049,400 <SALES> 2,054,900 <TOTAL-REVENUES> 2,213,800 <CGS> 0 <TOTAL-COSTS> 1,667,800 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 546,000 <INCOME-TAX> 207,900 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 338,100 <EPS-PRIMARY> .10 <EPS-DILUTED> .08