American Capital Holdings Inc Watch

from 10QSB/A ~20 pages Exhibit 10.8 Audited Financial Statements of Cosmopolitan Life as of 12-31-04

from 10SB12G/A ~10 pages 10.6 Form of Oustanding Warrant

from 10SB12G/A ~50 pages 10.5 Lease Agreement

from 10SB12G/A ~10 pages 10.4 Universe Life Acquisition Agreement

from 10SB12G/A 1 page 10.3 Isda Asset Purchase Agreement

from 10SB12G 1 page Exhibit 10.2 - Spaulding Agreement

from 10SB12G 1 page (List A) Asset Purchase Agreement Seller: Achi, Inc. F/K/a American Capital Holdings, Inc.) Fedid. No. 300188047 Buyer: American Capital Holdings, Inc. (F/K/a USA Sportsnet Company) February 29, 2004 Assets Exhibit No. 1 Cash $ 25,739.12 Money Market Account $5,243.74 Operating Account $20,495.38 2 Notes Receivable $ 0.00 3 Marketable Securities Cost (Ecec) $ 234,071.31 4 Restricted Securities Cost $ 5,366,037.40 5 Spaulding Acquisition Cost $10,466,756.64 6 Inventory (Mesh Invoice No. 269-Pf) $ 98,705.00 7 American Capital Name & Marketing Materials $ 42,186.91 8 American Capital 506 Reg. D Offering $ 14,770.00 9 Ibbotson & Associates Research Material & Charts $ 10,000.00 10 Global Hosting Center, Inc./Harry Timmons Equipment Purchase $ 47,423.50 11 Prepaid Expenses $ 23,740.00 Total Assets $16,329,429.88 ============== Exhibit No. Less 12 Promissory Notes $ 1,005,000.00 Total Liabilities $ 1,005,000.00 Total Acquisition Shares (See Attached Usasn/Ach Acquisition Agreement) 47,457,356 Shares Total Stockholders Equity $15,324,429.88 Total Liabilities & Stockholders Equity $16,329,429.88 ==============

from 10SB12G 1 page Exhibit 10.1 - Asset Purchase Agreement