<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JAN-01-1999 <PERIOD-END> SEP-30-1999 <CASH> 184,000 <SECURITIES> 4,850,000 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 5,078,000 <PP&E> 11,358,000 <DEPRECIATION> 547,000 <TOTAL-ASSETS> 16,628,000 <CURRENT-LIABILITIES> 1,134,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,000 <OTHER-SE> 3,857,000 <TOTAL-LIABILITY-AND-EQUITY> 16,628,000 <SALES> 0 <TOTAL-REVENUES> 304,000 <CGS> 0 <TOTAL-COSTS> 7,423,000 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 778,000 <INCOME-PRETAX> (7,119,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (7,119,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (7,119,000) <EPS-BASIC> (.80) <EPS-DILUTED> (.80)