<ARTICLE> 5 <MULTIPLIER> 1 <CURRENCY> US DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <EXCHANGE-RATE> 1 <CASH> 1,024,036 <SECURITIES> 0 <RECEIVABLES> 57,552 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,081,588 <PP&E> 11,947,352 <DEPRECIATION> 1,062,139 <TOTAL-ASSETS> 13,251,110 <CURRENT-LIABILITIES> 476,497 <BONDS> 11,076,350 <PREFERRED-MANDATORY> 0 <PREFERRED> 1,661,452 <COMMON> 815,200 <OTHER-SE> (778,389) <TOTAL-LIABILITY-AND-EQUITY> 13,251,110 <SALES> 0 <TOTAL-REVENUES> 1,159,299 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 526,956 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 716,640 <INCOME-PRETAX> (84,297) <INCOME-TAX> 0 <INCOME-CONTINUING> (84,297) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (84,297) <EPS-PRIMARY> (0.10) <EPS-DILUTED> (0.10)