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 June 30,1998

                ( X ) 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)

                                 (973) 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 (  ) No ( X  )

As of June 30, 1998, the issuer had 7,083,826 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: 14



                                       1

<PAGE>



               AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY

                                      INDEX

PART I.  FINANCIAL INFORMATION

                                                                      
Item 1.  Financial Statements
                                                                        Page
                                                                                
              Condensed  Consolidated Balance Sheets (Unaudited)-
              As of June 30, 1998 and (Audited) December 31, 1997 ....... 3

              Condensed  Consolidated  Statements  of  Operations
              (Unaudited)- Three Months and Six Months Ended June
              30, 1998 and 1997 and Cumulative from May 1, 1995 ......... 4-5

              Condensed  Consolidated  Statements  of Cash  Flows
              (Unaudited)-  Six Months  Ended  June 30,  1998 and
              1997 and Cumulative from May 1, 1995 ...................... 6

              Condensed  Consolidated  Statement of Stockholders'
              Deficit  (Unaudited) For  the period  January 1,1998
              through June 30, 1998 ..................................... 7

              Notes   to   Condensed    Consolidated    Financial
              Statements (Unaudited)- Three Months and Six Months
              Ended June 30,1998 and 1997 and Cumulative from May
              1, 1995 ................................................... 8

Item 2.  Management's Discussion and Analysis or Plan of Operation ...... 13


PART II. OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K ............................... 15


SIGNATURES .............................................................. 16













                                       2

<PAGE>

ITEM 1.  FINANCIAL STATEMENTS


              AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                              (UNAUDITED)          (AUDITED)
                                             June 30.1998      December 31,1997
ASSETS                                      --------------   -----------------
Current Assets:
Cash                                              $17,004                  $7
                                            ----------------------------------
  Total Current Assets                             17,004                   7

Other Assets:
Deposit (Note 4)                                   30,000              30,000
Trade Name                                          5,000               5,000
Deferred Charges                                    4,248
                                            ----------------------------------
  Total Other Assets                               39,248              35,000
                                            ----------------------------------
TOTAL ASSETS                                      $56,252             $35,007
                                            ==================================
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities:
Accounts Payable and Accrued expenses            $300,369            $296,055
Due to Officer                                    413,417             324,299
Liability from Settlement of Lawsuit
  (Note 5)                                        100,000             122,500
Loan from Stockholder (Note 3)                     92,556              83,376
Notes Payable (Note 3)                             22,900              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                         983,502             903,890

Stockholders'  Deficit (Notes 2 and 6)
  Common Stock $.01 par value; authorized
  25,000,000 shares issued and outstanding
  7,083,826 shares at June 30, 1998 and 
  2,770,826 shares at December 31, 1997            70,838              27,708
Additional Paid-In Capital                      1,296,483           1,260,263
Deficit (Deficit of $2,210,174 accumulated
  since May 1, 1995)                           (2,294,571)         (2,156,854)
                                            ----------------------------------
Total Stockholders Deficit                       (927,250)           (868,883)

                                            ----------------------------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT       $56,252             $35,007
                                            ==================================

            See Notes To Condensed Consolidated Financial Statements.

                                       3
<PAGE>



              AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                    THREE MONTHS ENDED JUNE 30, 1998 AND 1997
                         AND CUMULATIVE FROM MAY 1, 1995



                                           1998                  1997
                                      ---------------      --------------
REVENUE                                        $0                    $0
                                      -----------------------------------


EXPENSES
General and administrative                 62,478                57,109

Consulting and promotion fees               2,495                 2,500
Write-off of advances for
  terminated acquistion

                                      -----------------------------------
   Total Expenses                          64,973                59,609
                                      -----------------------------------


                                      -----------------------------------
NET LOSS                                 ($64,973)             ($59,609)
                                      ===================================


NET LOSS PER COMMON SHARE                 ($0.009)               ($0.04)
                                      ===================================


WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING               6,735,342             1,520,826
                                      ===================================



            See Notes to Condensed Consolidated Financial Statements.












                                       4
<PAGE>



                    AMERICAN SPORTS HISTORY AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                     SIX MONTHS ENDED JUNE 30, 1998 AND 1997

                                                                Cumulative from
                                      1998           1997       May 1, 1995
                               ------------    -----------      ---------------
REVENUES
Interest                                $0             $0             $468
                               ------------------------------------------------

EXPENSES
General and Administrative         127,909        116,569        1,535,503
Consulting fees                      4,808          2,500          466,783
Lawsuit Settlement                                                 122,500
Write-off of advances for
  terminated acquisition                                            80,856
Acquistion expense                   5,000                           5,000
                               ------------------------------------------------
Total Expenses                     137,717        119,069        2,210,642
                               ------------------------------------------------


                               ------------------------------------------------
NET LOSS                         ($137,717)     ($119,069)     ($2,210,174)
                               ================================================


                               ---------------------------
NET LOSS PER COMMON SHARE           ($0.02)        ($0.08)
                               ===========================


WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING      6,113,025      1,458,326
                               ===========================




            See Notes To Condensed Consolidated Financial Statements.





                                       5

<PAGE>
              AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                 FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND 1997
                      AND CUMULATIVE FROM MAY 1, 1995                Cumulative
                                                                     from May 1,
                                               1998         1997        1995
                                           -----------   ----------  -----------
CASH FLOWS FROM OPERATING ACTIVITIES
Loss from continuing operations             ($137,717)   ($119,069) ($2,210,174)
Adjustments to reconcile loss from 
  continuing operations to net cash
  provided by (used in) operating
  activities:
     Write-off of Prepaid Royalty                                       137,500
     Common stock issued for services          34,750        7,500      575,258
     Common stock issued for 
       settlement of lawsuit                   22,500                    22,500
Changes in operating assets and 
  liabilities:
     Prepaid taxes                                                        3,442
     (Increase) in Other assets                (4,248)                   (9,248)
     Increase in Due to Officer                89,118      101,028      413,417
     Liability from Settlement of Lawsuit     (22,500)                  100,000
     Increase (Decrease) in Accounts 
       payable and accrued expenses             4,314       (1,478)     250,529
                                            ------------------------------------
                                               (13,783)     (12,019)   (716,776)
                                            ------------------------------------
Net cash (used in) operating activities        (13,783)     (12,019)   (716,776)
                                            ------------------------------------
CASH FLOWS FROM INVESTING ACTIVITIES
Common stock issued for acquisition 
  of subsidiary                                  5,000                    5,000

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of notes                                          23,400
Increase in Loan from stockholder               17,000       12,019      92,556
Sale of common stock                             9,180                  590,964
Common stock issued for payment of Notes           500                      500
Liability from sales of common stock 
  rescinded                                                              22,260
Payment on Notes Payable                          (500)                    (500)
Return of common stock                            (400)                    (400)
                                            ------------------------------------
Net cash provided by financing activities       25,780       12,019     728,780
                                            ------------------------------------
NET INCREASE  IN CASH                           16,997            0      17,004
                                            ------------------------------------
CASH-Beginning of period                             7            8
                                            ------------------------------------
CASH-End of period                             $17,004           $8     $17,004
                                            ====================================

            See Notes to Condensed Consolidated Financial Statements.

                                       6
<PAGE>


<TABLE>
<CAPTION>
                  AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARIES
                              (A Development Stage Company)
                     CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
         YEAR ENDED DECEMBER 31, 1997 AND (UNAUDITED) SIX MONTHS ENDED JUNE 30,1998

                                                             Average
                                                             Price       Common Stock                Additional      Accumulated
                                            Dates            Per Share   Shares          Amount     Paid-in Capital    Deficit
                                            --------------   ---------   -------------   ---------  ---------------  ------------
<S>                                         <C>                  <C>       <C>            <C>       <C>              <C>         
BALANCE, December 31, 1996                                                  13,958,262     $13,958     $1,216,514    ($1,785,450)

Effect of 1 for 10 reverse stock split             5/15/97                 (12,562,436)

Shares issued for services                      1/97-12/97       $0.04       1,375,000      13,750         43,749

Net Loss for the year ended
     December 31, 1997                                                                                                  (371,404)

Shares issued for services                  1/5/98-2/28/98       $0.01       3,375,000      33,750

Shares issued for Acquisition of Subsidiary        1/14/98       $0.01         500,000       5,000

Net loss for the three months ended
        March 31, 1998                                                                                                   (72,744)

                                                                        ---------------------------------------------------------

Balance March 31, 1998                                                       6,645,826      66,458      1,260,263    ($2,229,598)

Shares issued for services                         5/14/98       $0.01         100,000       1,000

Shares issued for payment of Notes                 5/14/98       $0.01          50,000         500

Shares issued in Settlement of Lawsuit             6/25/98       $0.10         225,000        2,250       20,250

Returned Shares                                     6/9/98       $0.02         (20,000)        (200)        (200)

Shares issued for cash                             6/29/98       $0.21          83,000          830       16,170

Net loss for three months ended June 30, 1998                                                                            (64,973)



                                                                         ========================================================
BALANCE, June 30, 1998                                                       7,083,826     $70,838     $1,296,483    ($2,294,571)
                                                                         ========================================================
</TABLE>


            See Notes to Condensed Consolidated Financial Statements.

                                       7

<PAGE>



AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARIES
                          (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
            THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1998 AND 1997
                         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"). On January 14, 1998, the
         Company acquired 100%  of  the  capital  stock  of  Sunset  Interactive
         Network Inc., a Michigan corporation (SIN).   As used in this document,
         the "Company " refers to ASH and its  subsidiaries,  Infinet   and SIN,
         unless the context indicates otherwise.

         Basis of  Presentation-  For accounting  purposes,  the  acquisition of
         Infinet  by  ASH  was  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 conjuction with its
         acquisition  by ASH, the Company  focused on 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.  

         On January 14, 1998, the Company entered into an agreement with  Sunset
         Interactive Network, Inc. (SIN), a newly  formed  Michigan corporation,
         to purchase 100% of the common stock of SIN for the issuance of 500,000
         shares  of  ASH's  common  stock  to SIN's president.  Since SIN had no
         assets  or  operations,   the  cost  of  acquiring  SIN  was charged to
         operations during the three month period ended March 31, 1998.

         The president, Peter Klamka, will continue in the same capacity at SIN,
         as well be a board member of ASH.

         SIN is registered as an interactive media company whose objective is to
         provide  entertainment  information  through  the  World  Wide  Web  by
         utilizing  recognized celebrity names.  Operations for SIN have not yet
         commenced and  start-up  funding  is  solely  dependent on successfully
         obtaining outside sources of financing.



                                       8

<PAGE>


         Although the Company has incurred significant start-up costs, since the
         Company  has  not generated any revenues from operation, 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 and six months
         ended June 30, 1998, 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 June 30, 1998,
         the results of  operations  for the three and six months ended June 30,
         1998 and 1997 and cumulative  from May 1, 1995, and the changes in cash
         flows for the six months  ended June 30,  1998 and 1997 and  cumulative
         from May 1, 1995. These  adjustments are of a normal recurring  nature.
         The consolidated  balance sheet as of December 31, 1997 is derived from
         the  Company's   audited   financial   statements.   The   accompanying
         consolidated financial statements include the operations of ASH and its
         wholly-owned  subsidiaries,  Infinet  and  SIN.  Any significant inter-
         company accounts and transactions have been eliminated consolidation.

         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
         year ended December 31, 1997, as filed with the Securities and Exchange
         Commission.

         The results of  operations  for the three and six months ended June 30,
         1998 are not necessarily  indicative of the results of operations to be
         expected for the full year ending December 31, 1998.

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.


                                       9

<PAGE>



         The  Company  incurred  a net  loss of  $371,404  for  the  year  ended
         December 31, 1997,  resulting in an  accumulated  deficit of $2,156,854
         and a  stockholders'  deficit of $868,883 at December 31, 1997. For the
         six months  ended June 30,  1998,  the  Company  incurred a net loss of
         $137,717  resulting  in  an  accumulated  deficit  of  $2,294,571 and a
         stockholders'  deficit of $927,250 at June 30,1998.

         Management  of the  Company  has  currently  prepared a  business  plan

         summarizing  its  strategy  through  December  1999.  Under  this plan,
         approximately $5,000,000 will be required to pay off  current  debt and
         implement its business plan of publishing an  on-line  nostalgic sports
         magazine and entering the entertainment industry through the  internet.
         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 bear  interest at 10% per annum.  Interest  expense for the three
         and six  month  periods  ended  June 30,  1998  was  $1,986 and $3,972 
         respectively.

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  Historical  Footage film library (not related
         to sports).  As stipulated in the contract,  the Company also agreed to


                                      10

<PAGE>



         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 commom  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 June 30, 1998, no additional shares of stock were issued.

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

5. LIABILITY FROM SETTLEMENT OF LAWSUIT / 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.

         Effective  October 14, 1997,  on behalf of himself and the Company, Mr.
         Nerlino, CEO of the Company, signed  a  proposed  settlement  agreement
         whereby the Company is obligated to pay the plaintiff $100,000  without
         interest,  to be paid over three years commencing on the effective date
         of the agreement.  In addition,  the  Company is obligated to issue the
         plaintiff 225,000 shares of its common stock  within  30  days  of  the
         effective  date  of the agreement.  The settlement will be secured by a
         security interest in  the  assets  of  the Company.   In the opinion of
         counsel,  the  agreement is binding on both the Company and Mr. Nerlino
         as its President and CEO.

         As of  June 30, 1998, the Company was in default under the terms of the
         proposed   agreement.   Counsel  for  the  Company  has  contacted  the
         plaintiff  and  his  attorney  and  is  currently  in  the  process  of
         attempting  to  renegotiate  certain terms of the settlement agreement.
         However, if this attempt is unsuccessful and should any legal action be
         initiated against the Company  due  to its defaulting, the Company will
         vigorously  defend  itself .  The proposed  liability  was  charged  to
         operations for the year ended  December  31,  1997, and classified as a
         current liability.

         On June 25, 1998, Legal counsel for the Company was issued the  225,000
         shares of the Company's common stock to be held for  the benefit of the
         plaintiff, and has been instructed by the Company to release such stock
         to the plaintiff upon resolution of this matter.



                                       11

<PAGE>



         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.  Trial is  set  for November 1998. Management and   legal
         counsel  for  the  Company  believe  the  allegations  brought  by  the
         plaintiff  have no merit. 


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.  

         During  the three months ended June 30,1998, the Company issued 100,000
         shares of its common stock valued at $1,000 for services rendered by an
         outside consultant.  Additionally,  225,000  shares  valued  at $22,500
         were issued upon the proposed settlement of a lawsuit (See Note 5), and
         50,000 shares valued at $500 were issued as partial payment of a  Note.
         The Company sold 83,000 shares for a total value of $17,000. 


                                       12

<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. 

On  January  14,  1998, the Company acquired 100% of the capital stock of Sunset
Interactive Network Inc.  (SIN),  a  Michigan corporation.  SIN had no assets or
operations.  SIN, is registered as an  interactive media company whose objective
is to provide information through the World Wide Web.   It  is  the intention of
management to establish a website through SIN.

Although  the Company has incurred a significant amount of start-up costs, 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 June 30, 1998 and 1997-

         For the  three  month  period ended June 30, 1998 and 1997, general and
administrative  expenses  were  $62,478  and $57,109 respectively, and consisted
primarily of the accrual of the Company's Chief Executive Officer's  salary  and
related benefits.



         During the three months  ended June 30, 1998 and 1997,  the Company had
net losses of $64,973 and $59,609  respectively.  Interest expense for the three
month periods ended June 30, 1998 and 1997 was $1,986 and $585 respectively.


                                       13

<PAGE>



Six Months Ended June 30, 1998 and 1997-

         For  the  six  months  ended  June  30,  1998  and  1997,  general  and
administrative expenses  were $127,909 and $116,569 respectively,  and consisted
primarily  of  the  accrual  of the Chief Executive Officer's salary and related
benefits.

During the six months  ended June 30, 1998 and 1997,  the Company had net losses
of $137,717 and $119,069 respectively.


Financial Condition-June 30,1998:

Liquidity and Capital Resources-

         Management of the Company has a business plan  summarizing its strategy
through  December  1999.  Under  this  plan,  approximately  $5,000,000  will be
required  to pay off current  debt and implement its business plan of publishing
an  on-line  nostalgic  sports  magazine and entering the entertainment industry
through  the  internet.   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  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,  1998,  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 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.

         
                                       14

<PAGE>



                           PART II. OTHER INFORMATION

ITEM 6.  EXIBITS AND REPORTS ON FORM 8-K

         (a)  Exhibits:

               Exhibit         
               Number      Description
               -------     --------------
                 1         Purchase  Agreement  between  American Sports History
                           Incorporated and  Sunset  Interactive  Network,  Inc.
                           dated January 14, 1998.  Previously  filed as Exhibit
                           1  to the Company's Annual Report  on Form 10-KSB for
                           the  fiscal  year  ended  December  31,   1997,   and
                           incorporated herein by reference thereto.


                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 June 30, 1998-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)



Date: September 28, 1998               By:   /s/ VINCENT M. NERLINO
                                          ------------------------------------
                                          Vincent M. Nerlino
                                          President, CEO
                                          (Duly authorized officer and
                                          principal financial officer)































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