UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                  FORM 10-QSB/A

(Mark one)
[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934
                  For the quarterly period ended June 30, 2002

[ ]      TRANSITION REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934
                  For the transition period from _________ to ___________


                     AMERICAN SPORTS DEVELOPMENT GROUP, INC.
                     ---------------------------------------
        (Exact name of small business issuer as specified in its charter)

                        Commission File Number 0 - 26943


Delaware                                                      95-4695878
--------                                                      ----------
(State or other jurisdiction                                 (IRS Employer
of incorporation)                                          Identification No.)

155 Verdin Road, Greenville, SC                               29607
-------------------------------                               -----
(Address of principal executive offices)                    (Zip Code)

        Registrant's telephone number, including area code: 864-458-7221


                           American Inflatables, Inc.
                    947 Newhall Street, Costa Mesa, CA 92627
                    ----------------------------------------
         (Former Name and Former Address, 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
                   ----------              -----------

                      APPLICABLE ONLY TO CORPORATE ISSUERS

As of June 30,  2002 there were  61,806,737  shares of the  Registrant's  common
stock, $.001 par value per share, issued and outstanding.


<PAGE>

The text of Part II, Item 2 set forth below replaces in its entirety the text of
Part II, Item 2 set forth in the Company's  Quarterly  Report on Form 10-QSB for
the fiscal quarter ended June 30, 2002.

PART II.

ITEM 2.  CHANGES IN SECURITIES.

During the fiscal  quarter ended June 30, 2002,  the Company issued common stock
in  the  transactions  described  below  that  were  not  registered  under  the
Securities Act of 1933, as amended (the "Securities  Act"). The Company believes
that all of the  following  transactions  were  exempt  from  such  registration
pursuant to Section 4(2) of the Securities Act.

1.            On April 1, 2002,  the Company  issued a  convertible  note in the
              principal  amount of $30,000  bearing  interest  at an annual rate
              equal  to10%  that was  convertible  into  200,000  shares  of the
              Company's  common  stock.  The note was issued to Spartan  Limited
              Partnership,  the  general  partner  of  which is an  employee  of
              Paintball Incorporated.  The note was converted in accordance with
              its terms on June 27, 2002.
2.            On May 16, 2002,  the Company  issued 653,232 shares of its common
              stock to Gregg  Mulholland,  the  President  and  Chief  Executive
              Officer and a director and substantial  shareholder of the Company
              in  satisfaction of $206,250 in accrued unpaid salary and $211,819
              of cash advances by Mr. Mulholland to the Company.
3.            On May 16, 2002,  the Company  issued 175,000 shares of its common
              stock to Dale  Paisley,  a consultant  who  performed  many of the
              duties ordinarily  performed by a chief financial officer prior to
              the  Company's  acquisition  of  Paintball,   in  satisfaction  of
              $100,000 of accrued payables owed to Mr. Paisley.
4.            On May 16, 2002,  the Company  issued 100,000 shares of its common
              stock to Jeff  Jacobson,  the Company's  chief  operating  officer
              prior to the Company's  acquisition of Paintball,  in satisfaction
              of oral  promises  made to Mr.  Jacobson  by the  Company's  chief
              executive  officer  prior  to  the  Paintball  acquisition,  Gregg
              Mulholland.
5.            On May 17, 2002, in accordance  with the Company's  acquisition of
              Paintball  Incorporated,  the Company issued  50,612,159 shares of
              its  common  stock,  or 83% of the total  outstanding  shares on a
              fully diluted basis after the issuance,  to the three shareholders
              of  Paintball  for  all  the  issued  and  outstanding  shares  of
              Paintball,  making  Paintball  a wholly  owned  subsidiary  of the
              Company.
6.            On May 17, 2002, in connection  with the Company's  acquisition of
              Paintball  Incorporated,   Universal  Consultants,   Inc.  ("UCI")
              exercised a warrant dated  December 20, 2000 to acquire  1,320,000
              shares of the Company's common stock at an exercise price of $0.25
              per share  (for an  aggregate  exercise  price of  $330,000).  The
              exercise price was paid by the forgiveness of the entire principal
              amount of a $330,000  promissory note issued by the Company to UCI
              on December 12, 2000.


  ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a)  Exhibits

99.1   Certification of Chief Executive  Officer  Pursuant to Section 906 of the
       Sarbanes-Oxley Act of 2002.

99.2   Certification of Chief Financial  Officer  Pursuant to Section 906 of the
       Sarbanes-Oxley Act of 2002.



<PAGE>

                                   SIGNATURES

In accordance with the requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  authorized  this  Report to be signed on its behalf by the
undersigned thereunto duly authorized.


Date:  August 20, 2002

                                 American Sports Development Group, Inc.



                                 By: /s/ William R. Fairbanks
                                    ---------------------------------------
                                    William R. Fairbanks
                                    President and Chief Executive Officer


EXHIBITS

99.1   Certification of Chief Executive  Officer  Pursuant to Section 906 of the
       Sarbanes-Oxley Act of 2002.

99.2   Certification of Chief Financial  Officer  Pursuant to Section 906 of the
       Sarbanes-Oxley Act of 2002.