<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS FOR THE PERIOD ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                       6,999,535
<SECURITIES>                                         0<F1>
<RECEIVABLES>                                        0<F1>
<ALLOWANCES>                                         0<F1>
<INVENTORY>                                          0<F1>
<CURRENT-ASSETS>                             7,072,367
<PP&E>                                         341,393
<DEPRECIATION>                                 188,019
<TOTAL-ASSETS>                               7,413,760
<CURRENT-LIABILITIES>                          242,838
<BONDS>                                              0<F1>
<PREFERRED-MANDATORY>                                0<F1>
<PREFERRED>                                      1,035
<COMMON>                                         3,447
<OTHER-SE>                                  21,526,328
<TOTAL-LIABILITY-AND-EQUITY>                 7,413,760
<SALES>                                              0<F1>
<TOTAL-REVENUES>                                     0<F1>
<CGS>                                                0<F1>
<TOTAL-COSTS>                                        0<F1>
<OTHER-EXPENSES>                             1,380,718
<LOSS-PROVISION>                                     0<F1>
<INTEREST-EXPENSE>                           (108,485)
<INCOME-PRETAX>                              1,272,233
<INCOME-TAX>                                         0<F1>
<INCOME-CONTINUING>                          1,272,233
<DISCONTINUED>                                       0<F1>
<EXTRAORDINARY>                                      0<F1>
<CHANGES>                                            0<F1>
<NET-INCOME>                               (1,272,233)
<EPS-PRIMARY>                                   (0.70)
<EPS-DILUTED>                                   (0.70)
<FN>
<F1>AMOUNTS INAPPLICABLE OR NOT DISCLOSED AS A SEPARATE LINE ON THE STATEMENT OF
FINANCIAL OR RESULTS OF OPERATIONS ARE REPORTED AS 0 HEREIN.
</FN>