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 March 31, 1997

(   )    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)

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

                                 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 March 31,  1997,  the issuer  had  13,958,262  shares of its common  stock
issued and outstanding or to be issued.

Transitional Small Business Disclosure Format:  Yes (   ) No ( X )
Total sequentially number pages in this document: 13


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<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY

                                      INDEX

PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

              Condensed  Consolidated Balance Sheets (Unaudited)-
              As of March 31, 1997 and December 31, 1996 ............... 3

              Condensed  Consolidated   Statements  of  Operation
              (Unaudited)-  Three Months Ended March 31, 1997 and
              1996 and Cumulative from May 1, 1995 ..................... 4

              Condensed  Consolidated  Statements  of Cash  Flows
              (Unaudited)-  Three Months Ended March 31, 1997 and
              1996 and Cumulative from May 1, 1995 ..................... 5

              Condensed Consolidated  Statements of Stockholders'
              Deficit (Unaudited)- For the period January 1, 1996
              through March 31, 1997 ................................... 6

              Notes   to   Condensed    Consolidated    Financial
              Statements  (Unaudited)-  Three  Months Ended March
              31,1997 and 1996 and Cumulative from May 1, 1995 ......... 7

Item 2.  Management's Discussion and Analysis or Plan of Operation ..... 10


PART II. OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K .............................. 12


SIGNATURES ............................................................. 13





                                       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)

    
                                                      March 31,     December 31,
                                                        1997            1996
                                                     ----------      ---------
ASSETS
Current Assets:
Cash                                                         $8              $8
Prepaid Taxes                                             3,442           3,442
                                                     ----------      ----------
              Total Current Assets                        3,450           3,450

Other Assets:
Deposit (Note 4)                                         30,000          30,000
Trade Name                                                5,000           5,000
                                                     ----------      ----------
              Total Other Assets                         35,000          35,000
                                                     ----------      ----------
TOTAL ASSETS                                            $38,450         $38,450
                                                     ==========      ==========
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Accounts Payable and Accrued expenses                  $294,656        $298,839
Due to Officer                                          219,669         166,669
Loan from Stockholder (Note 3)                           60,903          50,260
Notes Payable (Note 3)                                   23,400          23,400
Liability from Sale of Common Stock
  subsequently rescinded                                 22,260          22,260
Income Taxes Payable resulting from
  Discontinued Operations                                32,000          32,000
                                                     ----------      ---------- 
              Total Current Liabilities                 652,888         593,428

Stockholders' Deficit (Notes 2 and 6)
Common Stock $.001 par value;
  authorized 25,000,000 shares issued
  and outstanding-13,958,262 shares at
  March 31, 1997 and December 31, 1996
  respectively                                           13,958          13,958
Additional Paid-In Capital                            1,216,514       1,216,514
Deficit (Deficit of $1,760,513 accumulated
  since May 1, 1995)                                 (1,844,910)     (1,785,450)
                                                     ----------      ----------
              Total Stockholder's Deficit              (614,438)       (554,978)
                                                     ----------      ----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $38,450         $38,450
                                                     ==========      ==========

            See Notes To Condensed Consolidated Financial Statements.


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<PAGE>

                     AMERICAN SPORTS HISTORY AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                   THREE MONTHS ENDED MARCH 31, 1997 AND 1996
                         AND CUMULATIVE FROM MAY 1, 1995
                                                               
                                                                     Cumulative
                                                                        from
                                        1997            1996        May 1, 1995
                                     ----------      ----------     -----------
REVENUES
Interest                                                    $94            $468
                                     ----------      ----------     -----------

EXPENSES
General and Administrative               59,460         201,832       1,220,650
Consulting  and promotion fees                          352,500         459,475
Write-off of advances for
  terminated acquisition                                                 80,856
                                     ----------      ----------     -----------
             Total Expenses              59,460         554,332       1,760,981
                                     ==========      ==========     ===========


                                     ----------      ----------     -----------
NET LOSS                               ($59,460)      ($554,238)    ($1,760,513)
                                     ==========      ==========     ===========



                                     ----------      ----------
NET LOSS PER COMMON SHARE               ($0.004)        ($0.050)
                                     ==========      ==========



WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING            13,958,262      10,970,000
                                     ==========      ==========




            See Notes To Condensed Consolidated Financial Statements.













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<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
               FOR THE THREE MONTHS ENDED MARCH 31, 1997 AND 1996
                         AND CUMULATIVE FROM MAY 1, 1995

<TABLE>
<CAPTION>
                                                                                 Cumulative
                                                                                 from May 1,
                                                       1997           1996          1995
                                                   -----------    -----------    -----------
<S>                                                   <C>           <C>          <C>         
CASH FLOWS FROM OPERATING ACTIVITIES
Loss from continuing operations                       ($59,460)     ($554,238)   ($1,760,513)
Adjustments to reconcile loss from operations
  to net cash provided by (used in) operating
  activities:
      Write-off of Prepaid Royalty                                                   137,500
      Shares of common stock issued for services                      170,000        483,008

Changes in operating assets and liabilities:
      Other assets                                                                    (5,000)
      Due to Officer                                    53,000         53,000        219,669
      Increase (Decrease) in Accounts payable
        and accrued expenses                            (4,183)        67,500        244,817
                                                   -----------    -----------    -----------
Net cash used in operating activities                  (10,643)      (263,738)      (680,519)
                                                                                 

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of notes                                                       23,400
Loan from stockholder                                   10,643            153         60,903
Sale of common stock                                                  260,000        573,964
Liability from sales of common stock rescinded                         (2,640)        22,260
                                                                                  
                                                   -----------    -----------    -----------
Net cash provided by financing activities               10,643        257,513        680,527
                                                   -----------    -----------    -----------

NET INCREASE (DECREASE) IN CASH                              0         (6,225)             8
CASH-Beginning of period                                     8          6,626
                                                   -----------    -----------    -----------
CASH-End of period                                          $8           $401             $8
                                                   ===========    ===========    ============
</TABLE>



            See Notes to Condensed Consolidated Financial Statements.


                                       5
<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A Development Stage Company)
           CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT (UNAUDITED)
       YEAR ENDED DECEMBER 31, 1996 AND THREE MONTHS ENDED MARCH 31, 1997

                                         
<TABLE>
<CAPTION>
                                                            Average                            Additional             
                                                             Price     Common Stock              Capital     Accumulated
                                                 Dates     Per Share      Shares      Amount    Paid-in        Deficit
                                               ----------  ---------   ------------  -------   ----------    ----------- 
<S>                                            <C>            <C>      <C>           <C>       <C>          <C>
BALANCE, December 31, 1995                                             10,296,112    $10,297     $485,084     ($623,052)


Shares issued for services                     1/96-12/96     $0.11     2,428,400      2,428      257,655

Shares issued for assets                       1/96-6/96      $0.25       670,000        670      166,830

Sale of common stock                           1/96-12/96     $0.55       563,750        563      306,945

Net loss for the year ended
  December 31, 1996                                                                                          (1,162,398)
                                                                       ----------    -------   ----------    ----------- 
BALANCE, December 31, 1996                                             13,958,262     13,958    1,216,514    (1,785,450)

Net loss for the three month ended
  March 31, 1997                                                                                                (59,460)
                                                                       ----------    -------   ----------    ----------- 
BALANCE, March 31, 1997                                                13,958,262    $13,958   $1,216,514   ($1,844,910)
                                                                       ==========    =======   ==========    ===========
</TABLE>


            See Notes to Condensed Consolidated Financial Statements.







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<PAGE>

               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
                          (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
                   THREE MONTHS ENDED MARCH 30, 1997 AND 1996
                         AND CUMULATIVE FROM MAY 1, 1995



1.     ORGANIZATION AND BASIS OF PRESENTATION

       Organization-  The  Company  was  incorporated  in the State of Nevada on
       August 9, 1990 as  National  Logistics,  Inc.  National  Logistics,  Inc.
       changed  its  name  to  Fans  Holdings,   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.  ("Infinet").  As used in this  document,  the  "Company "
       refers to ASH and its subsidiary,  Infinet,  unless the context indicates
       otherwise.

       Basis of  Presentation-  For  accounting  purposes,  the  acquisition  of
       Infinet by ASH has been treated as a  recapitalization  of Infinet,  with
       Infinet  as the  acquirer  (reverse  acquisition).  ASH had no  assets or
       operations prior to May 1995. The historical  financial  statements prior
       to August 21, 1995 were 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 were classified as discontinued
       operations.  Although planned principal operations have commenced,  since
       the Company has not 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.

       Net Loss per Common Share- In August 1995,  the Company issued new shares
       of common stock in  consideration  for the  acquisition of Infinet,  in a
       transaction,  which has been accounted for as a reverse acquisition.  Net
       loss per  common  share for the three  months  ended  March  31,1997,  is
       calculated  based  on  the  weighted  average  number  of  common  shares
       outstanding.

       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 March 31, 1997, the
       results of operations  for the three months ended March 31, 1997 and 1996
       and  cumulative  from May 1, 1995,  and the changes in cash flows for the
       three  months  ended March 31, 1997 and 1996 and  cumulative  from May 1,
       1995.  These   adjustments  are  of  a  normal  recurring   nature.   The
       consolidated  balance  sheet as of December  31, 1996 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.

       Certain  information  and  footnote   disclosures  normally  included  in
       financial statements that have been prepared in accordance with generally



                                       7
<PAGE>

       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 year ended December
       31, 1996, as filed with the Securities and Exchange Commission.

       The results of  operations  for the three months ended March 31, 1997 are
       not  necessarily  indicative  of the results of operations to be expected
       for the full year ending December 31, 1997.


2.     GOING CONCERN

       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
       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.

       The Company incurred a net loss of $1,162,398 for the year ended December
       31,  1996,  resulting  in an  accumulated  deficit  of  $1,785,450  and a
       stockholders'  deficit of $554,978 at December  31,  1996.  For the three
       months ended March 31, 1997,  the Company  incurred a net loss of $59,460
       resulting in a stockholders' deficit of $614,438 at March 31, 1997.

       Management  of the Company has a business plan  summarizing  its strategy
       through December 1998. Under this plan,  approximately $5,000,000 will be
       required  through  December  1998,  to pay off current  debt and fund the
       start up of its sports  magazine.  The Company is  currently  negotiating
       with several  independent  parties regarding certain potential  contracts
       that will help achieve the promotion of its magazine. The intention is to
       raise capital  through the sale of its equity  securities  and/or to seek
       outside private sources of financing. There can be no assurances that the
       Company will be  successful in its attempts to raise  sufficient  capital
       essential to its  survival.  To the extent the Company is unable to raise
       the  necessary  operating  capital,  it will not be able to implement its
       business  plan,  and  it  will  become  necessary  to  curtail  or  cease
       operations.  Additionally,  even if the  Company  does  raise  sufficient
       operating capital,  there can be no assurances that the net proceeds will
       be  sufficient  enough to enable it to develop  its  business  to a level
       where it will generate profits and cash flows from operations.


3.     TRANSACTIONS WITH RELATED PARTIES

       LOAN  FROM  STOCKHOLDER/NOTES  PAYABLE-  Loan from  stockholder  reflects
       advances  made  to and  expenses  paid  on  behalf  of the  Company  by a
       stockholder  related  to the  Chief  Executive  Officer  of the  Company.
       Proceeds  from  issuance  of notes  represents  direct  loans made to the
       Company by stockholders. The loans and notes are due on demand. The notes
         



                                       8
<PAGE>

       bear  interest  at 10% per annum.  Interest  expense  for the three month
       period ended March 31, 1997 was $585.


4.     ACQUISITION OF OTHER ASSETS

       Deposits- On January 30, 1996,  the Company  issued 120,000 shares of its
       restricted common stock for the acquisition of a film library  consisting
       of 16 hours of sports  footage film and license rights to use 36 hours of
       footage from the Historical Footage film library (not related to sports).
       As stipulated in the contract,  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 were not  sufficient to generate  $600,000 of proceeds to
       the seller.  The Company valued the 120,000 shares of common stock issued
       at estimated  fair value of $.25 per share,  and  recorded the  aggregate
       value of such shares of $30,000 as a deposit for the film library  during
       the year ended  December 31, 1996.  As of March 31, 1997,  no  additional
       shares of stock were issued.

       The Company is currently  negotiating a revision of the original contract
       terms  with the owner of the film  library.  No  conclusion  has yet been
       reached.


5.     COMMITMENTS AND CONTINGENCIES

       Legal  Proceedings-  On June 30,  1996 a  default  judgment  was  entered
       against  Infinet Inc.,  the  wholly-owned  subsidiary of American  Sports
       History Inc. and certain of the  Company's  principal  stockholders  by a
       former  affiliated party of Infinet Inc.,  alleging breach of contractual
       commitments and other matters.  Legal counsel for the Company has advised
       management  that this  matter is in the  process of being  settled  for a
       nominal amount.

       On August 2, 1996, the Company became a defendant in a case involving one
       of its  current  stockholders.  The  plaintiff  is  seeking  a refund  of
       approximately  $200,000,  the original  amount  invested in the Company's
       common stock.  Management  and legal counsel for the Company  believe the
       allegations  brought  by the  plaintiff  have no merit.  The  Company  is
       attempting to settle the case out of court.


6.     COMMON STOCK

       On May 15, 1997, the Board of Directors of the Company authorized a 1 for
       10 reverse stock split upon unanimous approval by its stockholders. As of
       that date, the total number of common shares issued and  outstanding  was
       reduced  from  13,958,262  (no stock was  issued by the  Company  between
       December 31, 1996 and May 15, 1997) to  1,395,826,  and related par value
       was  increased  to .01 cents per common  share from .001 cents per common
       share.

                                       9
<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 was treated as a recapitalization of
Infinet,  with Infinet as the acquirer  (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.  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 stages.

Statements of Operations:

Three Months Ended March 31, 1997 and 1996-

         For  the  three  month  period  ended  March  31,  1997,   general  and
administrative  expenses were $59,460 and consisted  primarily of the accrual of
the Company's Chief Executive Officer's salary and related benefits.

         For  the  three  month   period  ended  March   31,1996,   general  and
administrative  expenses of $201,832  consisted  of office  expenses,  legal and
accounting  fees and travel and  entertainment.  Consulting fees and Promotional
expenses of $352,500  consisted of fees to  consultants,  employees and officers
for services rendered as well as certain contractual commitments.

         During the three months ended March 31, 1997 and 1996,  the Company had
net losses of $59,460 and $554,238, respectively. Interest expense for the three
month periods ended March 31, 1977 and 1996 respectively, was $585 and $176.

Financial Condition-March 31,1997:

Liquidity and Capital Resources-

         Management of the Company has a business plan  summarizing its strategy
through  December  1998.  Under  this  plan,  approximately  $5,000,000  will be
required to pay off current  debt and fund the start up of its sports  magazine.
The Company is currently  negotiating with several independent parties regarding
certain  contracts  that will help achieve the  promotion of its  magazine.  The
intention is to raise capital through the sale of its equity  securities  and/or
to seek outside  private  sources of financing.  There can be no assurances that
the Company will be successful  in its attempts to raise the  necessary  capital
essential  to its  survival.  To the extent  the  Company is unable to raise the
necessary operating capital, it will not be able to implement its business plan,
and it will become necessary to curtail or cease operations.  Additionally, even
if  the  Company  does  raise  sufficient  operating  capital,  there  can be no
assurances  that the net  proceeds  will be  sufficient  enough  to enable it to
develop its  business to a level where it will  generate  profits and cash flows
from operations.

         Management  of the  Company  believes  that it will be able to  sustain
limited  operations  during the year ending  December  31,  1997,  with the cash
resources generated by the continuing sale of small amounts of common stock, and



                                       10
<PAGE>

through management's ability to control discretionary  expenditures.  Except for
the Company's employment agreement with its Chief Executive Officer, the Company
has no other fixed  expenses.  The Company  intends to defer the cash payment of
compensation to the officer until such time as the Company has adequate  working
capital  and/or  cash  flow.  To the extent  possible,  the  Company  intends to
continue to issue shares of its common stock to its officer and  consultants for
services rendered, in order to conserve working capital.







                                       11
<PAGE>


                           PART II. OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits:

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

       10.1       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.

        27        Financial Data Schedule (electronic filing only)

     (b)  Reports of Form 8-K

          Three Months Ended March 31, 1997-None



                                       12
<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)



Date:    January 16, 1998              By: /s/ VINCENT M. NERLINO
                                       --------------------------
                                       Vincent M. Nerlino
                                       President, CEO
                                       (Duly authorized officer and
                                        principal financial officer)













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