<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-2000 <PERIOD-END> MAR-31-2000 <CASH> 3626,826 <SECURITIES> 0 <RECEIVABLES> 1,873,975 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 46,963,504 <PP&E> 923,647 <DEPRECIATION> 0 <TOTAL-ASSETS> 48,287,583 <CURRENT-LIABILITIES> 53,401,794 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 100,010 <COMMON> 19,569 <OTHER-SE> (6,711,544) <TOTAL-LIABILITY-AND-EQUITY> 48,287,583 <SALES> 0 <TOTAL-REVENUES> 5,846,853 <CGS> 0 <TOTAL-COSTS> 7,658,631 <OTHER-EXPENSES> 67,500 <LOSS-PROVISION> 800,000 <INTEREST-EXPENSE> 1,297,730 <INCOME-PRETAX> (1,879,278) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,879,278) <EPS-BASIC> (0.5) <EPS-DILUTED> (0.5)