<TABLE> <S> <C>


<ARTICLE>                     5
<LEGEND>
      This schedule  contains summary  information  extracted  fromthe Company's
      registration  statement on Form SB-2.  filed with the  commission on April
      231, 1998.
</LEGEND>

       
<S>                             <C>                                <C>                    
<PERIOD-TYPE>                   12-MOS                             3-MOS                 
<FISCAL-YEAR-END>                              DEC-31-1997                        DEC-31-1997
<PERIOD-START>                                 JAN-01-1997                        JAN-01-1998
<PERIOD-END>                                   DEC-31-1997                        MAR-31-1998
<CASH>                                         6,820,884                          3,388,303 
<SECURITIES>                                   9,102,028                          11,264,405 
<RECEIVABLES>                                  0                                  0 
<ALLOWANCES>                                   0                                  0 
<INVENTORY>                                    0                                  0 
<CURRENT-ASSETS>                               17,277,841                         14,764,016 
<PP&E>                                         91,959                             103,739 
<DEPRECIATION>                                 14,967                             19,582 
<TOTAL-ASSETS>                                 17,354,833                         14,848,173 
<CURRENT-LIABILITIES>                          1,553,726                          380,096 
<BONDS>                                        0                                  0 
<PREFERRED-MANDATORY>                          0                                  0 
<PREFERRED>                                    2,041                              1,932 
<COMMON>                                       18,329                             19,472 
<OTHER-SE>                                     15,801,107                         14,468,077 
<TOTAL-LIABILITY-AND-EQUITY>                   17,354,833                         14,848,173
<SALES>                                        0                                  0 
<TOTAL-REVENUES>                               0                                  0 
<CGS>                                          0                                  0 
<TOTAL-COSTS>                                  0                                  0 
<OTHER-EXPENSES>                               0                                  0
<LOSS-PROVISION>                               0                                  0
<INTEREST-EXPENSE>                             (150,602)                          0 
<INCOME-PRETAX>                                0                                  0 
<INCOME-TAX>                                   0                                  0 
<INCOME-CONTINUING>                            0                                  0 
<DISCONTINUED>                                 0                                  0 
<EXTRAORDINARY>                                0                                  0 
<CHANGES>                                      0                                  0 
<NET-INCOME>                                   (4,266,125)<F1>                    (1,400,306)
<EPS-PRIMARY>                                  (1.14)                             (.30)<F1>
<EPS-DILUTED>                                  0                                  0 
<FN>
(1)  EPS-BASIC
</FN>

                                                                   


</TABLE>