<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMATION  EXTRACTED  FROM  THE
COMPANY'S  QUARTERLY  REPORT ON FORM 10-QSB FOR THE THREE MONTHS ENDED MARCH 31,
1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>        1,000
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                                                   DEC-31-1996
<PERIOD-START>                                                      JAN-01-1997
<PERIOD-END>                                                        MAR-31-1997
<CASH>                                                                       12
<SECURITIES>                                                              9,024
<RECEIVABLES>                                                                 0
<ALLOWANCES>                                                                  0
<INVENTORY>                                                                   0
<CURRENT-ASSETS>                                                              0
<PP&E>                                                                       26
<DEPRECIATION>                                                               24
<TOTAL-ASSETS>                                                            9,195
<CURRENT-LIABILITIES>                                                         0
<BONDS>                                                                       0
<PREFERRED-MANDATORY>                                                   (65,482)
<PREFERRED>                                                                   0
<COMMON>                                                                 63,567
<OTHER-SE>                                                                    0
<TOTAL-LIABILITY-AND-EQUITY>                                              9,195
<SALES>                                                                       0
<TOTAL-REVENUES>                                                            123
<CGS>                                                                         0
<TOTAL-COSTS>                                                                 0
<OTHER-EXPENSES>                                                             53
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                            0
<INCOME-PRETAX>                                                              70
<INCOME-TAX>                                                                  0
<INCOME-CONTINUING>                                                          70
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                                 70
<EPS-PRIMARY>                                                             (0.11)
<EPS-DILUTED>                                                             (0.11)
        


</TABLE>