<ARTICLE> 5 <LEGEND> The schedule contains summary financial information extracted from the Company's balance sheets as of December 31, 1997 and March 31, 1998 and the Statements of Operations for the year ended December 31, 1997 and the three months ended March 31, 1998 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR 3-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1998 <PERIOD-START> JAN-01-1997 JAN-01-1998 <PERIOD-END> DEC-31-1997 MAR-31-1998 <CASH> 7,831 4,857 <SECURITIES> 0 0 <RECEIVABLES> 0 0 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 7,880 5,004 <PP&E> 7,263 10,058 <DEPRECIATION> 56 93 <TOTAL-ASSETS> 16,098 15,258 <CURRENT-LIABILITIES> 5,893 7,738 <BONDS> 0 0 <PREFERRED-MANDATORY> 15,970 15,970 <PREFERRED> 0 0 <COMMON> 50 50 <OTHER-SE> (5,806) (8,491) <TOTAL-LIABILITY-AND-EQUITY> 16,098 15,258 <SALES> 163 100 <TOTAL-REVENUES> 163 100 <CGS> 0 715 <TOTAL-COSTS> 4,294 2,863 <OTHER-EXPENSES> (154) (78) <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 0 0 <INCOME-PRETAX> (3,977) (2,685) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (3,977) (2,685) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (3,977) (2,685) <EPS-PRIMARY> 0.80 0.54 <EPS-DILUTED> 0.80 0.54