<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS AS REPORTED ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-3O-1998
<CASH>                                         617,094
<SECURITIES>                                10,066,012
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            11,263,272
<PP&E>                                         264,024
<DEPRECIATION>                               (203,483)
<TOTAL-ASSETS>                             (15,097,042)
<CURRENT-LIABILITIES>                        1,431,633
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        271
<COMMON>                                       130,750
<OTHER-SE>                                  13,534,388
<TOTAL-LIABILITY-AND-EQUITY>                16,523,773
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                3,828,212
<OTHER-EXPENSES>                             (444,859)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                            (3,383,353)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (3,383,353)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (3,383,353)
<EPS-PRIMARY>                                   (0.26)
<EPS-DILUTED>                                   (0.26)