<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE BALANCE SHEET AND STATEMENT OF OPERATION AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                      24,386,872
<SECURITIES>                                   500,000
<RECEIVABLES>                                  371,793
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            25,317,602
<PP&E>                                         430,285
<DEPRECIATION>                                 176,562
<TOTAL-ASSETS>                              25,594,223
<CURRENT-LIABILITIES>                        1,675,673
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  5,000,000
<COMMON>                                    49,622,795
<OTHER-SE>                                (37,445,278)
<TOTAL-LIABILITY-AND-EQUITY>                25,594,223
<SALES>                                              0
<TOTAL-REVENUES>                            17,499,948
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                            25,323,526
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             226,685
<INCOME-PRETAX>                                591,611
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            591,611
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   591,611
<EPS-PRIMARY>                                     0.05
<EPS-DILUTED>                                     0.04