FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   KOVELESKI A ROBERT 2. Date of Event Requiring Statement (Month/Day/Year) 10/18/2005 3. Issuer Name and Ticker or Trading Symbol American Racing Capital, Inc. [ARGC.PK] (Last) (First) (Middle) 6860 ROBBINS COURT 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President and CEO 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SAN DIEGO, CA 92122 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 150,000,000 I SKI3, LLC (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series A Convertible Preferred Stock (1)	10/19/2005	  (5)	Common Stock	(2)	$ (3)	I	SKI3, LLC (4)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
KOVELESKI A ROBERT 6860 ROBBINS COURT SAN DIEGO, CA 92122	  X	  X	  President and CEO	Â

Signatures

A. Robert Koveleski		03/14/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	1,000,000 Series A Convertible Preferred Stock
(2)	300,000,000 upon conversion
(3)	One share of Series A Convertible Preferred Stock is convertible into 300 shares of common stock
(4)	These shares are being held by SKI3, LLC, and the reporting person is the sole member of SKI3, LLC. A. Robert Koveleski makes all investment decisions on behalf of SK13, LLC.
(5)	None

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