<ARTICLE> 5

                                                  
<PERIOD-TYPE>                   3-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999             DEC-31-1999
<PERIOD-START>                             APR-01-1999             JAN-01-1999
<PERIOD-END>                               JUN-30-1999             JUN-30-1999
<CASH>                                     108,686,020             108,686,020
<SECURITIES>                                58,940,865              58,940,865
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<COMMON>                                         4,736                   4,736
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<CGS>                                                0                       0
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<LOSS-PROVISION>                                     0                       0
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<INCOME-TAX>                                         0                       0
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<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                               (5,017,354)             (5,721,894)
<EPS-BASIC>                                      (.11)                   (.13)
<EPS-DILUTED>                                    (.11)                   (.13)