UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

   [X] Quarterly Report Under Section 13 or 15 (d) of the Securities Exchange
       Act of 1934

       For the quarterly period ended September 30, 1996

   [ ] Transition Report Under Section 13 or 15 (d) of the Securities Exchange
       Act of 1934

       For the transition period from ____ to ____

                       Commission file number: 33-55254-46

                      AMERICAN SPORTS HISTORY INCORPORATED
       -------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Nevada                                           87-0485307
            ------                                       -----------------
(State or other jurisdiction of                          (I.R.S.Employer
incorporation or organization)                         Identification Number)

                 18-I Heritage Drive, Chatham, New Jersey 07928
                 ----------------------------------------------
                    (Address of principal executive offices)

         Issuer's telephone number, including area code: (201) 635-0665

                                 Not applicable
     -------------------------------------------------------------------
            (Former name, former address and former fiscal year,
                       if changed  since last report.)

      Check  whether  the issuer (1) filed all  reports  required to be filed by
Section 13 or 15 (d) of the  Exchange Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing  requirements  for the past 90 days.
Yes (X) No( )

      As of September 30, 1996, the issuer had  12,024,862  shares of its common
stock issued and outstanding or to be issued.

Transitional Small Business Disclosure Format:    Yes ( ) No (X)

Total sequentially numbered pages in this document:    16.





                                        1

<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY

                                      INDEX

Part I.   FINANCIAL INFORMATION

     Item 1. Financial Statements

               Condensed Consolidated Balance Sheets (Unaudited) -
               As of September 30, 1996 and December 31, 1995

               Condensed Consolidated Statements of Operations
               (Unaudited-Three  Months Ended September 30, 1996 and 1995

               Condensed Consolidated Statements of Operations (Unaudited) -
               Nine Months Ended September 30, 1996 and 1995 and Cumulative from
               May 1, 1995


               Condensed Consolidated Statements of Shareholders' Equity
               (Unaudited) - For the Period January 1, 1995 through September
               30, 1996

               Condensed Consolidated Statements of Cash Flows (Unaudited) -
               Nine Months Ended September 30, 1996 and 1995 and Cumulative from
               May 1, 1995

               Notes to Condensed  Consolidated Financial Statements (Unaudited)
               - Three Months and Nine Months Ended  September 30, 1995 and 1996
               and Cumulative from May 1, 1995



     Item 2. Management's Discussion and Analysis or Plan of Operation

PART II.   OTHER INFORMATION

SIGNATURES








                                        2

<PAGE>
                         PART I. - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)

                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                      September 30, December 31,
                         ASSETS                            1996        1995
                         ------                       ------------  -----------
<S>                                                    <C>          <C>        
Current asset:
   Cash                                                $     1,071  $     6,626 
                                                       -----------  -----------
       Total current assets                                  1,071        6,626
                                                       -----------  -----------  
Other assets:
   Prepaid royalties                                       137,500
   Film library                                             30,000
   Other assets                                             13,442        8,442 
                                                       -----------  -----------
       Total other assets                                  180,942        8,442
                                                       -----------  -----------
       Totals                                          $   182,013  $    15,068                                                     
                                                       ===========  ===========                                                     
                                                       
          LIABILITIES AND SHAREHOLDERS' DEFICIENCY
          ----------------------------------------
Current liabilities:
   Accounts payable                                    $   207,514  $    85,839                                                     
   Notes payable                                            23,400
   Due to officer                                          201,853
   Liability from sales of common stock
       subsequently Rescinded                               22,260       24,900
   Income taxes payable from discontinued operations        32,000       32,000  
                                                       -----------  -----------
       Total current liabilities                           487,027      142,739
                                                       -----------  -----------
Shareholders' deficiency:
   Common stock, par value $.001;  authorized
       25,000,000 shares; issued and outstanding
       (excluding shares subject to rescission
       12,024,862 and 10,296,112                            12,025       10,297
   Additional paid-in capital                            1,139,606      485,084
   Deficit accumulated in the development stage         (1,456,645)    (623,052)
                                                       -----------  -----------
       Total shareholders' deficiency                     (305,014)    (127,671)
                                                       -----------  -----------

       Totals                                          $   182,013  $    15,068
                                                       ===========  ===========
</TABLE>
     See accompanying notes to condensed consolidated financial statements

                                       3
<PAGE>

                                                 .
               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                 THREE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                          1996          1995
                                                     ------------  ------------
<S>                                                  <C>           <C>          
Revenue:
   Interest income                                   $         24  $                                                          
                                                     ------------  ------------

Expenses:
   General and administrative                              81,421        97,966
   Promotion                                               25,000
   Consulting fees                                         35,250         2,000
                                                     ------------  ------------
      Total expenses                                      141,671        99,966
                                                     ------------  ------------

Net loss                                             $   (141,647) $    (99,966)
                                                     ============  ============

Net loss per common share:                           $     (0.01)  $      (0.01)             
                                                     ============  ============
Weighted average number of common shares
   outstanding                                         12,023,829     8,130,000
                                                     ============  ============
</TABLE>


      See accompanying notes to condensed consolidated financial statements.


                                        4
<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                  NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                     AND CUMULATIVE AMOUNTS FROM MAY 1, 1995
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                Nine Months           Cumulative 
                                                            Ended September 30,        Amounts   
                                                     ----------------------------     From May 1,
                                                          1996           1995            1995
                                                     -------------  -------------  -------------
<S>                                                  <C>            <C>            <C>          
Revenue:
   Interest income                                   $         187  $              $         449
                                                     -------------  -------------  -------------

Expenses:
   General and administrative                              386,554         97,966        693,615
   Promotion                                               125,000                       125,000
   Consulting fees                                         322,050        152,000        473,050
   Write-off of advances to terminated acquisition                         80,856         80,856
   Write-off of advances to related party                                 431,751
   Interest                                                    176                           176
                                                     -------------  -------------  -------------
      Totals                                               833,780        762,573      1,372,697
                                                     -------------  -------------  -------------

Loss from continuing operations                           (833,593)      (762,573)    (1,372,248)

Loss from discontinued operations                                        (199,503)
                                                     -------------  -------------  -------------

Net loss                                             $    (833,593) $    (962,076) $  (1,372,248)
                                                     =============  =============  =============

Net loss per common share:
   Loss from continuing operations                   $       (0.07) $       (0.09)                 
   Loss from discontinued operations                          --            (0.03)
                                                     -------------  -------------
   Net loss                                          $       (0.07) $       (0.12)
                                                     =============  =============

Weighted average number of common shares
   outstanding                                          11,855,683      8,130,000               
                                                     =============  =============


</TABLE>
     See accompanying notes to condensed consolidated financial statements.


                 
                                        5
<PAGE>
               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)

           CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIENCY)
      YEAR ENDED DECEMBER 31, 1995 AND NINE MONTHS ENDED SEPTEMBER 30, 1996
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                           Retained
                                                 Average           Common Stock            Additional      Earnings
                                                  Price      -------------------------      Paid-in      (Accumulated               
                                   Dates        Per Share      Shares         Amount        Capital         Deficit)        Total
                                -----------    -----------   -----------   -----------    -----------    -----------    ------------
<S>                             <C>            <C>           <C>           <C>            <C>            <C>            <C>
Balance, December 31, 1994                                    5,000,000    $     5,000    $    (4,000)   $   546,856    $   547,856
                                          
Shares issued to pre-merger
   shareholders                                               1,000,000          1,000          4,000                         5,000

Sale of common stock            6/95           $     0.34       410,912            411        139,545                       139,956

Shares issued for services      7/95-9/95      $     0.02     3,192,500          3,193         50,732                        53,925

Sale of common stock            7/95-9/95      $     0.50       125,000            125         62,375                        62,500

Shares issued for services      10/95-12/95    $     0.38       440,000            440        168,560                       169,000

Sale of common stock            10/95-12/95    $     0.50       127,700            128         63,872                        64,000

Net loss for the year ended
   December 31, 1995                                                                                      (1,169,908)    (1,169,908)
                                                            -----------    -----------    -----------    -----------    -----------
Balance, December 31, 1995                                   10,296,112         10,297        485,084       (623,052)      (127,671)

Shares issued for services      1/96-3/96      $     0.44       390,000            390        169,610                       170,000

Shares issued for assets        1/96-3/96      $     0.25       420,000            420        104,580                       105,000

Sale of common stock            1/96-3/96      $     0.50       525,000            525        259,475                       260,000
                                                                                                                                   
Net loss for the three months
   ended March 31, 1996                                                                                     (554,238)      (554,238)
                                                            -----------    -----------    -----------    -----------    -----------
Balance, March 31, 1996                                      11,631,112         11,632      1,018,749     (1,177,290)      (146,909)

Shares issued for assets        4/96-6/96      $     0.25       250,000            250         62,250                        62,500

Sale of common stock, net of
   costs                        4/96-6/96      $     1.27        13,750             13         17,487                        17,500

Net loss for the three months
   ended June 30, 1996                                                                                      (137,708)      (137,708)
                                                            -----------    -----------    -----------    -----------    -----------
Balance, June 30, 1996                                       11,894,862         11,895      1,098,486     (1,314,998)      (204,617)

Sale of common stock            7/96-9/96      $     2.00         5,000              5          9,995                        10,000

Shares issued for services      7/96-9/96      $      .25       125,000            125         31,125                        31,250

Net loss for the three months
   ended September 30, 1996                                                                                 (141,647)      (141,647)
                                                            -----------    -----------    -----------    -----------    -----------
Balance, September 30, 1996                                  12,024,862    $    12,025    $ 1,139,606    $(1,456,645)   $  (305,014)
                                                            ===========    ===========    ===========    ===========    ===========
</TABLE>
     See accompanying notes to condensed consolidated financial statements.
                                        6
<PAGE>
               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                         AND CUMULATIVE FROM MAY 1, 1995
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                     Cumulative
                                                                                        From
                                                                                        May 1,
                                                          1996           1995           1995
                                                      -----------    -----------    -----------
<S>                                                   <C>            <C>            <C>         
Cash flows from operating activities:
   Loss from continuing operations                    $  (833,593)   $  (762,573)   $(1,372,248)
   Adjustments to reconcile loss from
      continuing operations to net cash
      used in operating activities:
         Write-off of advances to related party                          431,751
         Shares of common stock issued for
            services                                      201,250         63,925        424,175
         Changes in operating assets and liabilities:
            Other assets                                  (5,000)                       (10,000)
            Income taxes payable from discontinued
               operations
                                                                        (40,000)
            Accounts payable and accrued expenses         121,675       115,839         157,675
                                                      -----------    -----------    -----------
Net cash used in continuing operations                   (515,668)     (191,058)      (800,398)
Net cash used in discontinued operations                                (29,360)
                                                      -----------    -----------    -----------
Net cash used in operating activities                    (515,668)     (220,418)     (800,398)
                                                      -----------    -----------    -----------
Cash flows from investing activities:
   Decrease in advances to related party                                   2,920
                                                      -----------    -----------    -----------
Net cash provided by investing activities                                  2,920
                                                      -----------    -----------    -----------
Cash flows from financing activities:
   Proceeds from issuance of notes payable                 23,400          7,000         23,400
   Increase in due to officer                             201,853                       201,853
   Sale of common stock                                   287,500        202,456        553,956
   Liability from sales of common stock
      subsequently rescinded                               (2,640)        24,900         22,260
                                                      -----------    -----------    -----------
Net cash provided by financing activities                 510,113        234,356        801,469
                                                      -----------    -----------    -----------
Net increase (decrease) in cash                            (5,555)        16,858          1,071

Cash, beginning of period                                   6,626          6,600
                                                      -----------    -----------    -----------
Cash, end of period                                   $     1,071    $    23,458    $     1,071
                                                      ===========    ===========    ===========
</TABLE>
     See accompanying notes to condensed consolidated financial statements.
                        
                                        7
<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)

        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
         THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                         AND CUMULATIVE FROM MAY 1, 1995

Note 1 - Organization

         The Company was organized on August 9, 1990 as National Logistics, Inc.
         National Logistics, Inc. changed its name to Fans Holding, Inc. on June
         30, 1995, and  subsequently  to American  Sports  History  Incorporated
         ("ASH") on September 20, 1995. On August 21, 1995, ASH acquired 100% of
         the capital stock of Infinet, Inc., a Delaware corporation ("Infinet").
         As  used  in  this  document,  the  "Company"  refers  to ASH  and  its
         subsidiary, Infinet, unless the context indicates otherwise.


Note 2 - Basis of Presentation


         For  accounting  purposes,  the  acquisition of Infinet by ASH has been
         treated as a recapitalization of Infinet,  with Infinet as the acquiror
         (reverse  acquisition).  ASH had no assets or  operations  prior to May
         1995. The historical  financial statements prior to August 21, 1995 are
         those of  Infinet.  The  business  of  Infinet  has  historically  been
         investing and  consulting,  but in conjunction  with its acquisition by
         ASH,  the Company  commenced  the  business of  publishing a variety of
         nostalgic  sports  magazines  effective May 1, 1995.  Accordingly,  the
         historical  operations of Infinet have been  classified as discontinued
         operations. Although planned principal operations have commenced, since
         the Company has not yet  generated any revenues  from  operations,  the
         Company  is  still  considered  to be in  the  development  stage,  and
         therefore  cumulative  results of  operations  and cash flows have been
         presented.

         The accompanying  consolidated  financial statements are unaudited but,
         in the opinion of  management of the Company,  contain all  adjustments
         necessary to present  fairly the  financial  position at September  30,
         1996,  the results of  operations  for the three months and nine months
         ended  September 30, 1996 and 1995 and cumulative from May 1, 1995, and
         the changes in cash flows for the nine months ended  September 30, 1996
         and 1995 and cumulative  from May 1, 1995.  These  adjustments are of a
         normal recurring nature. The consolidated  balance sheet as of December
         31, 1995 is derived from the Company's  audited  financial  statements.
         The  accompanying   consolidated   financial   statements  include  the
         operations  of  ASH  and  its  wholly-owned  subsidiary,  Infinet.  All
         significant intercompany accounts and transactions have been eliminated
         in consolidation.

                                        8
<PAGE>

         Certain  information  and  footnote  disclosures  normally  included in
         financial  statements  that  have  been  prepared  in  accordance  with
         generally accepted accounting principles have been condensed or omitted
         pursuant to the rules and  regulations  of the  Securities and Exchange
         Commission,  although  management  of the  Company  believes  that  the
         disclosures  contained in these  financial  statements  are adequate to
         make the  information  presented  therein not  misleading.  For further
         information,  refer to the consolidated  financial statements and notes
         thereto  included in the Company's Annual Report on Form 10-KSB for the
         fiscal year ended  December 31, 1995, as filed with the  Securities and
         Exchange Commission.

         The results of  operations  for the three  months and nine months ended
         September  30, 1996 are not  necessarily  indicative  of the results of
         operations to be expected for the full fiscal year ending  December 31,
         1996.

         Net Loss Per Common  Share - In August  1995,  ASH issued new shares of
         common stock in  consolidation  for the  acquisition  of Infinet,  in a
         transaction which has been accounted for as a reverse acquisition. As a
         result,  net loss per common share for the three months and nine months
         ended  September  30, 1995 is presented  on a pro forma basis,  and has
         been  calculated as if the previously  issued and the new common shares
         had been  outstanding  during the three  months and nine  months  ended
         September 30, 1995.  Net loss per common share for the three months and
         nine  months  ended  September  30,  1996 is  calculated  based  on the
         weighted average number of common shares outstanding.

Note 3 - Going Concern:


         Significant  Operating  Loss  - The  Company  incurred  a net  loss  of
         $1,169,908  for the year  ended  December  31,  1995,  resulting  in an
         accumulated  deficit of  $623,052  and a  shareholders'  deficiency  of
         $127,671 at December 31, 1995. For the nine months ended  September 30,
         1996,  the Company  incurred a net loss of  $833,593,  resulting  in an
         accumulated  deficit of $1,456,645  and a  shareholders'  deficiency of
         $305,014 at September 30, 1996.

         The Company will require a minimum of $5,000,000  of operating  capital
         through  December  1997 to implement  its business plan of publishing a
         variety of nostalgic  sports  magazines.  The Company  intends to raise
         this  operating  capital  through  the sale of its  equity  securities.
         However, there can be no assurances that the Company will be successful
         in  raising  sufficient  operating  capital  on a timely  basis,  at an
         acceptable  cost, and under acceptable terms and conditions in order to
         implement  its business  plan. To the extent that the Company is unable
         to  raise  the  necessary  operating  capital,  it will  not be able to
         implement  its  business  plan,  and it will have to  curtail  or cease
         operations.  In  addition,  even if the Company  does raise  sufficient
         operating capital through the sale of its equity securities,  there can
         be no assurances that the net proceeds will be sufficient to enable the
         Company to develop  its new line of  business  to a level where it will
         generate profits and cash flow from operations.

                                        9
<PAGE>

         The  accompanying  financial  statements  have been prepared on a going
         concern  basis,  which  contemplates  the  realization  of  assets  and
         satisfaction  of  liabilities  in the normal  course of  business.  The
         accompanying  financial  statements  do  not  include  any  adjustments
         relating  to  the   recoverability   of  the  recorded  assets  or  the
         classification  of the liabilities  that might be necessary  should the
         Company be unable to continue as a going concern.

Note 4 - Acquisition of Other Assets:

         Film Library - On January 30, 1996, the Company acquired a film library
         consisting of 16 hours of sports footage film and license rights to use
         36 hours of  footage from Historical Footage film library  (not related
         to sports) in exchange for 120,000 shares of the  Company's  restricted
         common  stock.  The Company  also  agreed to issue up to an  additional
         120,000  shares of common  stock in the event that the initial  120,000
         shares are not  sufficient  to  generate  $600,000  of  proceeds to the
         seller.  The  Company  valued  the  120,000  shares of common  stock at
         estimated  fair value of $.25 per share,  and  recorded  the  aggregate
         value of such shares of $30,000 as film library.

         Prepaid  Royalties - On January 12,  1996,  the Company  entered into a
         licensing agreement with National Football League Alumni, Inc. ("NFLA")
         relating  to  the  Company's  use  of  certain   trademarks   owned  or
         beneficially  owned by NFLA.  The license  agreement  is for the period
         beginning  January 1, 1995 and ending on December 31, 2001. The Company
         will pay NFLA an  amount  equal to 8% of all "Net  Sales"  of  licensed
         products sold during the term of the license  agreement  with a minimum
         royalty of $1,500,000.  The Company issued 300,000 shares of its common
         stock and agreed to issue additional shares, not to exceed 300,000,  to
         cover future royalty payments to NFLA. The Company is obligated to file
         a registration  statement  covering such shares with the Securities and
         Exchange  Commission,  which has not yet been done.  The Company valued
         the 300,000  shares of common stock  issued to NFLA at  estimated  fair
         value of $.25 per  share,  and  recorded  the  aggregate  value of such
         shares of $75,000 as prepaid royalties.

         On May 28, 1996,  the Company  entered into a licensing  agreement with
         Gage Marketing  Group,  LLC ("Gage"),  an exclusive agent for the NFLA.
         The Company paid $100,000 for the right to be the presenting sponsor of
         the January  1996 NFLA Alumni  Player of the Year Awards  Dinner.  Gage
         granted the Company  rights to the video  footage of that dinner.  Gage
         also  granted  the  Company  the rights to sponsor  future  dinners and
         market the video footage of those dinners.  The initial term is for the
         period  beginning May 15, 1996 and ending on May 14, 2001.  The Company
         will pay Gage an  amount  equal to 8% of all "Net  Sales"  of  licensed
         products  with a minimum  royalty of  $1,250,000.  The  Company  issued
         250,000 shares of its common stock to cover future royalty  payments to
         Gage  and  agreed  to pay  $600,000  in cash for the  rights  to be the
         presenting  sponsorship of the dinners,  payable  $100,000 by September
         15,  1996,  $100,000  by  November  15,  1996 and  $100,000  on each of
         September  1, 1997,  1998,  1999 and 2000.  Upon  request by Gage,  the
         Company is obligated to file a  registration  statement  covering  such
         shares with the Securities and Exchange Commission.  The Company valued


                                       10
<PAGE>

         the 250,000  shares of common stock  issued to Gage at  estimated  fair
         value of $.25 per  share,  and  recorded  the  aggregate  value of such
         shares of $62,500 as prepaid royalties.

Note 5 - Issuance of Common Stock:

         During the nine months ended  September  30, 1996,  the Company  issued
         1,728,750  shares of common stock. Of such amount,  670,000 shares were
         issued in  conjunction  with the NFLA and the Gage  agreements  and the
         acquisition  of the Nobles film  library  and were valued at  $167,500,
         543,750  shares of common stock were sold for net proceeds of $287,500,
         and 515,000 shares of common stock were issued for services rendered to
         officers, employees and consultants and were valued at $201,250.

Note 6 - Legal Proceedings:

         On June 30, 1996, a Default Judgment was entered against  Infinet,  the
         Company's  wholly-owned   subsidiary,   and  Vincent  M.  Nerlino,  the
         President and principal  shareholder  of the Company.  Mr.  Nerlino has
         filed a Motion to Set Aside the Entry of  Default  (the  "Motion")  and
         Infinet filed a similar  motion on September 4, 1996.  Mr.  Nerlino has
         filed briefs on his Motion and is  currently  awaiting the setting of a
         date for a hearing on such Motion.

         The entry of the Default  Judgment  is the result of a  Cross-Complaint
         filed by William Brin, the former President of Fans  Publishing,  Inc.,
         against Infinet, Jeane Hays Nerlino, the wife of Vincent M. Nerlino and
         the former sole  stockholder  of Infinet,  and  Vincent M.  Nerlino,  a
         former director and shareholder of Fans Publishing, Inc., among others,
         in Superior Court of Arizona,  Maricopa  County,  Case No. CV 95-18275.
         The Cross-Complaint seeks indemnification  should any award be obtained
         in the  underlying  suit (the  "Complaint")  together with punitive and
         compensatory  damages  according  to proof  and  attorneys'  fees.  The
         Complaint was filed by Dr. Craig Pearson against Fans Publishing, Inc.,
         Mr. Nerlino, Mrs. Nerlino, Mr. Brin, Mr. Bianchi and others,  alleging,
         among other things, fraudulent sale of securities,  breach of contract,
         fraud and breach of fiduciary  duties.  Dr.  Pearson is seeking,  among
         other  things,  actual  damages  of  $600,000,  punitive  damages,  and
         attorneys' fees.

         The court  proceeding is in an early stage and no discovery  procedures
         have begun.  The Company,  Infinet,  Mr. Nerlino,  Mrs. Nerlino and Mr.
         
          
                                       11
<PAGE>

         Bianchi  deny any  wrongdoing  and intend to  vigorously  defend  their
         actions. However, there is no assurance that they will be successful in
         their respective defenses.  The Company is in the development stage and
         has minimal  resources so that any  substantial  settlement  or verdict
         against  the  Company,  Mr.  Nerlino  and/or Mr.  Bianchi  would have a
         material adverse effect on the Company.

         On  August 2,  1996,  attorneys  for  Robert T.  Wheeler  ("Wheeler  ")
         notified  the Company that a complaint  would be filed  against it, Mr.
         Nerlino and Mrs.  Nerlino,  among others,  in the Superior Court of the
         State of Arizona in and for the County of  Maricopa,  unless  Wheeler's
         $200,000 equity investment in the Company, plus interest and costs, was
         immediately returned. Wheeler is demanding rescission of his investment
         based upon an  allegation  that the Company  failed to timely  register
         Wheeler's  securities  with the  Securities  and  Exchange  Commission.
         Settlement  negotiations  are currently  being held between the Company
         and Wheeler.  However,  there is no assurance  that this matter will be
         satisfactorily  resolved  without a lawsuit  being filed.  Although the
         Company  denies any  wrongdoing  and,  if a lawsuit  is filed,  it will
         vigorously  defend  against it, there is no assurance  that the Company
         will be successful in its defense. A verdict against the Company,  if a
         lawsuit is filed in this matter,  would have a material  adverse effect
         upon the Company.




















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<PAGE>
        ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Overview:

         Effective  August  21,  1995,  ASH  acquired  Infinet.  For  accounting
         purposes,  the  acquisition  of  Infinet  by ASH has been  treated as a
         recapitalization  of Infinet,  with  Infinet as the  acquiror  (reverse
         acquisition).  The historical  financial statements prior to August 21,
         1995 are those of Infinet.  The  business  of Infinet has  historically
         been investing and consulting,  but in conjunction with its acquisition
         by ASH, the Company commenced efforts to publish a variety of nostalgic
         sports  magazines.  Accordingly,  the historical  operations of Infinet
         have been  classified  as  discontinued  operations.  Although  planned
         principal  operations  have  commenced,  since the  Company has not yet
         generated any revenues from operations, the Company is still considered
         to be in the development stage.

Statements of Operations:


Three Months Ended September 30, 1996 and 1995 -


         During  the  three  months  ended  September  30,  1996,   general  and
         administrative expenses were $81,421, and consisted of office expenses,
         legal and accounting fees and travel and entertainment. Consulting fees
         of $35,250 consisted of fees to consultants, employees and officers for
         services rendered.

         During the three months ended  September 30, 1995,  consulting  fees of
         $2,000 also  consisted of fees to  consultants,  employees and officers
         for services rendered.

         During the three months ended September 30, 1996, the Company had a net
         loss of $141,647. During the three months ended September 30, 1995, the
         Company had a net loss of $99,966.

Nine Months Ended September 30, 1996 and 1995 -

         During  the  nine  months  ended   September  30,  1996,   general  and
         administrative   expenses  were  $386,554,   and  consisted  of  office
         expenses,  legal and  accounting  fees and  travel  and  entertainment.
         Consulting fees of $322,050 consisted of fees to consultants, employees
         and  officers  for services  rendered.  Promotion  expenses of $125,000
         consisted of contractual costs relating to the January 1996 NFLA Alumni
         Player  of the Year  Awards  Dinner of  $100,000  and  $25,000  for the
         sponsorship of a golf tournament.

         During the nine months ended  September  30, 1995,  consulting  fees of
         $150,000  consisted of a fee for services  rendered by Capital  General
         Corporation  with respect to the Company's  terminated  acquisition  of
         Fans  Publishing,  Inc. and the completed  acquisition of Infinet.  The
         write-off  of advances  to  terminated  acquisition  of $80,856 and the
         write-off  of  advances  to  related  party of  $431,751  consisted  of


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<PAGE>
         non-interest bearing advances to Fans Publishing,  Inc. made by ASH and
         Infinet,  respectively,  that were determined to be  uncollectible  and
         were charged to operations  during the nine months ended  September 30,
         1995.

         During the nine months ended  September 30, 1996, the Company had a net
         loss of $833,593.  During the nine months ended September 30, 1995, the
         Company  had  a  net  loss  of  $962,076,  consisting  of a  loss  from
         continuing   operations  of  $762,573  and  a  loss  from  discontinued
         operations of $199,503.


Financial Condition - September 30, 1996:

Liquidity and Capital Resources -

         The Company will require a minimum of $5,000,000  of operating  capital
         through  December  1997 to implement  its business plan of publishing a
         variety of nostalgic  sports  magazines.  The Company  intends to raise
         this  operating  capital  through  the sale of its  equity  securities.
         However, there can be no assurances that the Company will be successful
         in  raising  sufficient  operating  capital  on a timely  basis,  at an
         acceptable  cost, and under acceptable terms and conditions in order to
         implement  its business  plan. To the extent that the Company is unable
         to  raise  the  necessary  operating  capital,  it will  not be able to
         implement  its  business  plan,  and it will have to  curtail  or cease
         operations.  In  addition,  even if the Company  does raise  sufficient
         operating capital through the sale of its equity securities,  there can
         be no assurances that the net proceeds will be sufficient to enable the
         Company to develop  its new line of  business  to a level where it will
         generate profits and cash flows from operations.

         During the nine months ended  September  30, 1996,  the Company  issued
         1,728,750  shares of common stock. Of such amount,  670,000 shares were
         issued in  conjunction  with the NFLA and the Gage  agreements  and the
         acquisition  of the Nobles film  library  and were valued at  $167,500,
         543,750  shares of common stock were sold for net proceeds of $287,500,
         and 515,000 shares of common stock were issued for services rendered to
         officers, employees and consultants and were valued at $201,250.

         For information  regarding  threatened and pending  litigation in which
         the Company is involved,  see "Note 6 - LEGAL PROCEEDINGS" of the Notes
         to  Condensed   Consolidated   Financial   Statements.   A  substantial
         settlement or verdict against the Company in any of these matters would
         have a material adverse effect on the Company.

         Management  of the  Company  believes  that it will be able to  sustain
         limited  operations  during the year ended December 31, 1996,  with the
         cash  resources  generated by the  continuing  sale of small amounts of
         common stock, and through management's ability to control discretionary
         expenditures.  Except for the Company's  employment  agreement with its
         President  and  the  contract  with  Gage,  the  Company  has no  fixed
         expenses. The Company intends to defer the cash payment of compensation
         to officers until such time as the Company has adequate working capital
         and/or cash flow.  The Company  intends to continue to issue  shares of
         its common stock to officers,  employees and  consultants  for services
         rendered to conserve working capital.

                                       14
<PAGE>

                           PART II. OTHER INFORMATION


ITEM 6.      EXHIBITS AND REPORTS ON FORM 8-K

    (a) Exhibits:


        Exhibit
        Number                            Description
        ------                            -----------

        10.1                Licensing  Agreement between American Sports History
                            Incorporated   and  the  National   Football  League
                            Alumni,  Inc.  dated  January 12,  1996,  previously
                            filed as Exhibit 10.1 to the Company's Annual Report
                            on Form  10-KSB for the fiscal  year ended  December
                            31,  1995,  and  incorporated  herein  by  reference
                            thereto.

        10.2                Purchase  Agreement  between American Sports History
                            Incorporated  and Vernon  Nobles  dated  February 2,
                            1996,  previously  filed  as  Exhibit  10.2  to  the
                            Company's  Annual  Report  on  Form  10-KSB  for the
                            fiscal   year   ended   December   31,   1995,   and
                            incorporated herein by reference thereto.

       10.3                 Licensing  Agreement between American Sports History
                            Incorporated and Gage Marketing Group, LLC dated May
                            28,  1996,  previously  filed as Exhibit 10.3 to the
                            Company's  Annual  Report  on  Form  10-KSB  for the
                            fiscal   year   ended   December   31,   1995,   and
                            incorporated herein by reference thereto.

       27                   Financial Data Schedule (electronic filing only)


    (b) Reports on Form 8-K:

        Three Months Ended September 30, 1996 - None



                                       15

<PAGE>

                                   SIGNATURES


     In accordance  with the  requirements  of the Exchange Act, the  registrant
     caused this report to be signed on its behalf by the undersigned  thereunto
     duly authorized.





                                           American Sports History Incorporated
                                           ------------------------------------
                                                      (Registrant)



                                              /s/ VINCENT M. NERLINO
                                              ----------------------
     Date: November 13, 1996                  By: Vincent M. Nerlino

                                                 President

                                                 (Duly authorized officer and
                                                  principal financial officer)
















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