FINANCIAL DATA SCHEDULE

<TABLE> <S> <C>

<ARTICLE> 5

<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JUL-01-1997
<PERIOD-END> SEP-30-1997
<CASH> 7,254,351
<SECURITIES> 18,605,097
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 325,718
<PP&E> 3,178,723
<DEPRECIATION> 1,568,001
<TOTAL-ASSETS> 27,836,555
<CURRENT-LIABILITIES> 9,786,853
<BONDS> 0
<PREFERRED-MANDATORY> 0
<PREFERRED> 0
<COMMON> 34,665,004
<OTHER-SE> (16,725,748)
<TOTAL-LIABILITY-AND-EQUITY> 27,836,555
<SALES> 0
<TOTAL-REVENUES> 4,700,000
<CGS> 0
<TOTAL-COSTS> 6,084,014
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (32,712)
<INCOME-PRETAX> (1,122,176)
<INCOME-TAX> 0
<INCOME-CONTINUING> (1,122,176)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (1,122,176)
<EPS-PRIMARY> (0.13)
<EPS-DILUTED> (0.13)


</TABLE>