<PAGE> 1
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, 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 March 31, 1996, the issuer had 11,631,112 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: 15.
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AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
INDEX
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Condensed Consolidated Balance Sheets (Unaudited) -
As of December 31, 1995 and March 31, 1996
Condensed Consolidated Statements of Operations (Unaudited) -
Three Months Ended March 31, 1995 and 1996 and Cumulative from May
1, 1995
Condensed Consolidated Statements of Cash Flows (Unaudited) -
Three Months Ended March 31, 1995 and 1996 and Cumulative from May
1, 1995
Condensed Consolidated Statements of Shareholders' Equity
(Deficiency) -
For the Period January 1, 1995 through March 31, 1996
Notes to Condensed Consolidated Financial Statements (Unaudited) -
Three Months Ended March 31, 1995 and 1996 and Cumulative from May
1, 1995
Item 2. Management's Discussion and Analysis or Plan of Operation
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
SIGNATURES
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AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
(A Development Stage Company)
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
<TABLE>
<CAPTION>
March 31, December 31,
1996 1995
----------- ---------
<S> <C> <C>
ASSETS
CURRENT ASSET
Cash $ 401 $ 6,626
----------- ---------
TOTAL CURRENT ASSET 401 6,626
----------- ---------
OTHER ASSETS
Prepaid royalties (Note 3) 75,000
Film library (Note 3) 30,000
Other assets 8,442 8,442
----------- ---------
TOTAL OTHER ASSETS 113,442 8,442
----------- ---------
$ 113,843 $ 15,068
=========== =========
LIABILITIES AND SHAREHOLDERS' DEFICIENCY
CURRENT LIABILITIES
Accounts payable and accrued expenses $ 153,339 $ 85,839
Due to officer 53,153
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 260,752 142,739
----------- ---------
SHAREHOLDERS' DEFICIENCY (Note 4)
Common stock, $.001 par value; authorized - 25,000,000 shares;
issued and outstanding - 10,296,112 shares at December 31,
1995 and 11,631,112 shares at March 31, 1996 11,632 10,297
Additional paid-in capital 1,018,749 485,084
Accumulated deficit (deficit of $1,092,893 accumulated
since May 1, 1995) (1,177,290) (623,052)
----------- ---------
TOTAL SHAREHOLDERS' DEFICIENCY (146,909) (127,671)
----------- ---------
$ 113,843 $ 15,068
=========== =========
</TABLE>
See accompanying notes to condensed consolidated financial statements.
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AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
(A Development Stage Company)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
THREE MONTHS ENDED MARCH 31, 1995 AND 1996
AND CUMULATIVE FROM MAY 1, 1995
<TABLE>
<CAPTION>
Cumulative
from
May 1,
1995 1996 1995
----------- ------------ -----------
<S> <C> <C> <C>
REVENUE
Interest $ $ 94 $ 356
----------- ------------ -----------
EXPENSES
General and administrative 201,656 507,717
Promotion (Note 3) 100,000 100,000
Consulting fees 252,500 404,500
Write-off of advances to terminated acquisition 80,856
Interest 176 176
----------- ------------ -----------
TOTAL EXPENSES 554,332 1,093,249
----------- ------------ -----------
LOSS FROM CONTINUING OPERATIONS (554,238) (1,092,893)
INCOME FROM DISCONTINUED OPERATIONS,
NET OF INCOME TAXES 49,561
----------- ------------ -----------
NET INCOME (LOSS) $ 49,561 $ (554,238) $(1,092,893)
=========== ============ ===========
NET INCOME (LOSS) PER COMMON SHARE
Loss from continuing operations $ $ (.05)
Income from discontinued operations .01
----------- ------------
Net income (loss) $ .01 $ (.05)
=========== ============
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING (Note 1) 6,000,000 10,970,000
=========== ============
</TABLE>
See accompanying notes to condensed consolidated financial statements.
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AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
(A Development Stage Company)
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIENCY) (UNAUDITED)
YEAR ENDED DECEMBER 31, 1995 AND THREE MONTHS ENDED MARCH 31, 1996
<TABLE>
<CAPTION>
Retained
Average Common Stock Earnings
Price --------------------- Additional (Accumulated
Dates Per Share Shares Amount Paid-in 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 $.34 410,912 411 139,545 139,956
Shares issued for services 7/95-9/95 $.02 3,192,500 3,193 50,732 53,925
Sale of common stock 7/95-9/95 $.50 125,000 125 62,375 62,500
Shares issued for services 10/95-12/95 $.38 440,000 440 168,560 169,000
Sale of common stock 10/95-12/95 $.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 $.44 390,000 390 169,610 170,000
Shares issued for assets 1/96-3/96 $.25 420,000 420 104,580 105,000
Sale of common stock 1/96-3/96 $.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)
========== ======= ========== =========== ===========
</TABLE>
See accompanying notes to condensed consolidated financial statements.
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AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
(A Development Stage Company)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
THREE MONTHS ENDED MARCH 31, 1995 AND 1996
AND CUMULATIVE FROM MAY 1, 1995
<TABLE>
<CAPTION>
Cumulative
from
May 1,
1995 1996 1995
--------- --------- -----------
<S> <C> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Loss from continuing operations $ $(554,238) $(1,092.893)
Adjustments to reconcile loss from continuing
operations to net cash used in operating
activities:
Shares of common stock issued for services 170,000 392,925
Changes in operating assets and liabilities:
(Increase) decrease in -
Other assets (5,000)
Increase (decrease) in -
Accounts payable and accrued expenses 67,500 103,500
Due to officer 53,000 53,000
--------- --------- -----------
Net cash used in continuing operations (263,738) (548,468)
Net cash used in discontinued operations (5,692)
--------- --------- -----------
Net cash used in operating activities (5,692) (263,738) (548,468)
--------- --------- -----------
CASH FLOWS FROM FINANCING ACTIVITIES
Loan from officer 153 153
Sale of common stock 260,000 526,456
Liability from sales of common stock
subsequently rescinded (2,640) 22,260
--------- --------- -----------
Net cash provided by financing activities 257,513 548,869
--------- --------- -----------
NET INCREASE (DECREASE) IN CASH (5,692) (6,225) 401
CASH, Beginning of period 6,600 6,626
--------- --------- -----------
CASH, End of period $ 908 $ 401 $ 401
========= ========= ===========
</TABLE>
See accompanying notes to condensed consolidated financial statements.
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AMERICAN SPORTS HISTORY INCORPORATED AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
THREE MONTHS ENDED MARCH 31, 1995 AND 1996
AND CUMULATIVE FROM MAY 1, 1995
1. ORGANIZATION AND BASIS OF PRESENTATION
Organization - The Company was organized 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., a Delaware corporation ("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
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 March 31, 1996, the results of
operations for the three months ended March 31, 1995 and 1996 and cumulative
from May 1, 1995, and the changes in cash flows for the three months ended March
31, 1995 and 1996 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.
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
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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 ended March 31, 1996 are not
necessarily indicative of the results of operations to be expected for the full
fiscal year ending December 31, 1996.
Net Income (Loss) Per Common Share - In August 1995, ASH 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. As a result, net income
per common share for the three months ended March 31, 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 ended March 31, 1995.
Net loss per common share for the three months ended March 31, 1996 is
calculated based on the weighted average number of common shares outstanding.
2. 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 three months ended March 31, 1996, the Company incurred a net loss of
$554,238, resulting in an accumulated deficit of $1,177,290 and a shareholders'
deficiency of $146,909 at March 31, 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 flows from
operations.
The accompanying financial statements have been prepared on
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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.
3. 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 the 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 shares, 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
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$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.
4. ISSUANCE OF COMMON STOCK
During the three months ended March 31, 1996, the Company issued 1,335,000
shares of common stock. Of such amount, 420,000 shares were issued in
conjunction with the NFLA agreement and the acquisition of the Nobles film
library and were valued at $105,000, 525,000 shares of common stock were sold
for net proceeds of $260,000, and 390,000 shares of common stock were issued for
services rendered to officers, employees and consultants and were valued at
$170,000.
5. 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 B. 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. 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
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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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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 March 31, 1995 and 1996 -
During the three months ended March 31, 1996, general and administrative
expenses were $201,656, and consisted of office expenses, legal and accounting
fees and travel and entertainment. Consulting fees of $252,500 consisted of fees
to consultants, employees and officers for services rendered. Promotion expenses
of $100,000 consisted of the contractual costs relating to the January 1996 NFLA
Alumni Player of the Year Awards Dinner.
During the three months ended March 31, 1996, the Company had a net loss of
$554,238. During the three months ended March 31, 1995, the Company had net
income, all from discontinued operations, of $49,561.
Financial Condition - March 31, 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
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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 three months ended March 31, 1996, the Company issued 1,335,000
shares of common stock. Of such amount, 420,000 shares were issued in
conjunction with the NFLA agreement and the acquisition of the Nobles film
library and were valued at $105,000, 525,000 shares of common stock were sold
for net proceeds of $260,000, and 390,000 shares of common stock were issued for
services rendered to officers, employees and consultants and were valued at
$170,000.
For information regarding threatened and pending litigation in which the
Company is involved, see "NOTE 5. 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 ending 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.
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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 March 31, 1996 - None
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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: September 16, 1996 By: _______________________________
Vincent M. Nerlino
President
(Duly authorized officer and
principal financial officer)
15
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS INCLUDED IN THE
COMPANY'S QUARTERLY REPORT ON FORM 10-QSB FOR THE QUARTERLY PERIOD ENDED MARCH
31, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 401
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 401
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 113,843
<CURRENT-LIABILITIES> 260,752
<BONDS> 0
0
0
<COMMON> 11,632
<OTHER-SE> (158,541)
<TOTAL-LIABILITY-AND-EQUITY> 113,843
<SALES> 0
<TOTAL-REVENUES> 94
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 176
<INCOME-PRETAX> (554,238)
<INCOME-TAX> 0
<INCOME-CONTINUING> (554,238)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (554,238)
<EPS-PRIMARY> (.05)
<EPS-DILUTED> 0
</TABLE>
