<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1998 <PERIOD-END> MAR-31-1998 <CASH> 556,399 <SECURITIES> 1,286,967 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 2,055,733 <PP&E> 10,679,081 <DEPRECIATION> (6,592,048) <TOTAL-ASSETS> 6,651,063 <CURRENT-LIABILITIES> 3,241,285 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 73,404,101 <OTHER-SE> (71,593,378) <TOTAL-LIABILITY-AND-EQUITY> 6,651,063 <SALES> 0 <TOTAL-REVENUES> 276,187 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 3,983,366 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 72,842 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (3,780,021) <EPS-PRIMARY> (.19) <EPS-DILUTED> (.19)