
<TABLE> <S> <C>

<PAGE>
<ARTICLE> 5
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                     151,902,271
<SECURITIES>                                         0
<RECEIVABLES>                                  403,376
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                           152,305,647
<PP&E>                                       9,143,511
<DEPRECIATION>                             (1,059,601)
<TOTAL-ASSETS>                             160,389,557
<CURRENT-LIABILITIES>                        3,178,877
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     29,954
<COMMON>                                       970,497
<OTHER-SE>                                 156,210,229
<TOTAL-LIABILITY-AND-EQUITY>               160,389,557
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                           (3,082,822)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                         (1,084,861)
<INCOME-PRETAX>                            (4,167,682)
<INCOME-TAX>                                     (800)
<INCOME-CONTINUING>                        (4,168,482)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (4,168,482)
<EPS-PRIMARY>                                    (.05)
<EPS-DILUTED>                                        0
        

</TABLE>
