<PAGE>   1
                     U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

     [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 2000

                                       OR

     [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

 For the transition period from ______________________ to _____________________

                               Commission File No.

                               ASP Ventures Corp.
                             -----------------------
             (Exact name of registrant as specified in its charter)

           Florida                                        98-0203918
           --------                                        ----------
(State or other jurisdiction of                (IRS Employer Identification No.)
 incorporation of organization)

                      1177 West Hastings Street, Suite 1818
                          Vancouver BC, Canada V6E 2K3
              -----------------------------------------------------
                    (Address of principal executive offices)

                                 (604) 602-1717
              (Registrant's telephone number, including area code)

          (Former name or 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 Securities Exchange Act of 1934 during the preceding
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 May 8, 2000, there were issued and outstanding 3,000,000 shares of
common stock of the registrant.


<PAGE>   2


                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                PAGE
                                                                                ----
<S>                                                                             <C>
PART I FINANCIAL INFORMATION ................................................

  ITEM 1. FINANCIAL STATEMENTS ..............................................

  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS ........

PART II OTHER INFORMATION ...................................................

  ITEM 1. LEGAL PROCEEDINGS .................................................

  ITEM 2. CHANGES IN SECURITIES .............................................

  ITEM 3. DEFAULTS UPON SENIOR SECURITIES ...................................

  ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS ...............

  ITEM 5. OTHER INFORMATION .................................................

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

SIGNATURES ..................................................................
</TABLE>


<PAGE>   3


                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

ASP VENTURES CORP.
BALANCE SHEET
(UNAUDITED)
(EXPRESSED IN UNITED STATES DOLLARS)
================================================================================


<TABLE>
<CAPTION>
                                                  MARCH 31,         December 31,
                                                       2000                1999
                                                 ----------         ------------
<S>                                              <C>                <C>
ASSETS

CURRENT
   Cash                                          $   11,248         $      7,754
================================================================================

LIABILITIES

CURRENT
   Accounts payable                              $  103,583         $     62,620
   Loan payable (Note 3)                             15,000                    -
--------------------------------------------------------------------------------
                                                    118,583               62,620
--------------------------------------------------------------------------------

SHAREHOLDERS' EQUITY

Share capital (Note 4)                                3,000                3,000
Additional paid in capital                          390,000              390,000
Deficit                                           (500,335)            (447,866)
--------------------------------------------------------------------------------
                                                  (107,335)             (54,866)
--------------------------------------------------------------------------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY       $   11,248         $      7,754
================================================================================
</TABLE>

GOING CONCERN (Note 1)

<PAGE>   4
ASP VENTURES CORP.
STATEMENT OF INCOME AND RETAINED EARNINGS
THREE MONTH PERIOD ENDED MARCH 31
(UNAUDITED)
(EXPRESSED IN UNITED STATES DOLLARS)
================================================================================


<TABLE>
<CAPTION>
                                                       2000                 1999
                                                 ----------         ------------
<S>                                              <C>                <C>
REVENUE
   Interest                                      $       51         $      1,012
--------------------------------------------------------------------------------

EXPENSES
   Bank charges                                          88                  189
   Consulting                                        15,000               21,656
   Entertainment                                        254                  174
   Filing fees                                        2,275                    -
   Financing fees                                        23                    -
   Legal                                             16,193                    -
   Management fee                                    17,130                    -
   Transfer agency                                      513                    -
   Travel                                             1,044                6,422
--------------------------------------------------------------------------------
                                                     52,520               28,441
--------------------------------------------------------------------------------
NET LOSS                                           (52,469)             (27,429)

DEFICIT, BEGINNING OF PERIOD                      (447,866)              (6,772)
================================================================================
DEFICIT, END OF PERIOD                           $(500,335)         $   (34,201)
================================================================================

LOSS PER SHARE                                   $   (0.17)         $     (0.03)
</TABLE>

<PAGE>   5
ASP VENTURES CORP.
STATEMENT OF CASH FLOWS
THREE MONTH PERIOD ENDED MARCH 31
(UNAUDITED)
(EXPRESSED IN UNITED STATES DOLLARS)
================================================================================


<TABLE>
<CAPTION>
                                                             2000           1999
                                                       ----------   ------------
<S>                                                    <C>          <C>
OPERATING ACTIVITIES
  Net income for the period                            $ (52,469)   $   (27,429)
  Change in non-cash operating working capital items
  Accounts payable                                         40,963              -
--------------------------------------------------------------------------------
                                                         (11,506)       (27,429)

FINANCING ACTIVITY
  Loan payable                                             15,000              -
  Share capital                                                 -        320,000
--------------------------------------------------------------------------------
INCREASE IN CASH                                            3,494        292,571
CASH POSITION, BEGINNING OF PERIOD                          7,754              -
--------------------------------------------------------------------------------
CASH POSITION, END OF PERIOD                           $   11,248   $    292,571
================================================================================

SUPPLEMENTAL CASH FLOW INFORMATION:

   Interest received                                   $       51   $      1,013
================================================================================
</TABLE>


<PAGE>   6


ASP VENTURES CORP.
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2000
(EXPRESSED IN UNITED STATES DOLLARS)
================================================================================

1.     GOING CONCERN

       The Company was incorporated under the laws of the State of Florida on
       March 23, 1989, as Air Support Services, Corp. On May 15, 1998, the
       company changed its name to ASP Ventures Corp.

       Since inception, the Company has incurred cumulative losses of $500,335
       and has a working capital deficiency of $107,335. These financial
       statements have been prepared in accordance with generally accepted
       accounting principles applicable to a going concern which assumes that
       the Company will realize its assets and discharge its liabilities in the
       normal course of business. Realization values may be substantially
       different from carrying values as shown in these financial statements
       should the Company be unable to continue as a going concern.

       The Company's ability to meet its obligations and maintain its operations
       is contingent upon several factors, including profitable operations,
       successful completion of additional financing arrangements, the
       continuing support of its creditors and/or the completion of a business
       combination with a company which would assist in obtaining necessary
       financing.

2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

       These financial statements have been prepared in accordance with Canadian
       generally accepted accounting principles which in respect of these
       financial statements do not differ materially from accounting principles
       generally accepted in the United States.

       (a)    Earnings (loss) per common share

              The earnings (loss) per common share is calculated based on the
              weighted average number of shares outstanding during the period.
              Diluted earnings per share has not been presented as the effect of
              common shares issuable on the exercise of options is
              anti-dilutive.

       (b)    Use of estimates

              The preparation of financial statements in conformity with
              generally accepted accounting principles requires management to
              make estimates and assumptions that affect the reported amounts of
              assets and liabilities at the date of the financial statements and
              the reported amounts of revenue and expenses during the reporting
              periods. Actual results could differ from those estimates.

       (c)    Cash and cash equivalents

              Cash and cash equivalents consist of cash on hand, deposits in
              banks and highly liquid investments with an original maturity of
              ninety days or less.

<PAGE>   7

ASP VENTURES CORP.
NOTES TO THE FINANCIAL STATEMENTS
MARCH 31, 2000
(EXPRESSED IN UNITED STATES DOLLARS)
================================================================================

3.     LOAN PAYABLE

       The loan payable of $15,000 is non-interest bearing and repayable on
       demand.

4.     SHARE CAPITAL

       (a)    Authorized

              50,000,000 common voting shares, $0.001 par value.

       (b)    Issued

<TABLE>
<CAPTION>
                                                                     Common Stock
                                                              ----------------------------      Additional
                                                               Shares           Amount        paid-in capital        Total
                                                              ---------------------------- ---------------------------------------
              <S>                                             <C>              <C>            <C>                  <C>
              Balance, December 31, 1997                            5,000      $    5,000      $           -        $   5,000

              Change of par value of shares from
                 $1.00 to $0.001                                        -          (4,995)             4,995                -
              Stock split (note 4(c))                             995,000             995              (995)                -
              --------------------------------------------------------------------------------------------------------------------
              Balance, December 31, 1998                        1,000,000           1,000              4,000            5,000

              Private placement (Note 4(d))                     2,000,000           2,000            386,000          388,000
              --------------------------------------------------------------------------------------------------------------------
              Balance, March 31, 2000 and
              December 31, 1999                                 3,000,000      $    3,000      $     390,000        $ 393,000
              ====================================================================================================================
</TABLE>

       (c)    During the year ended December 31, 1998, the Company split its
              common shares on a 200:1 basis increasing the number of
              outstanding common shares to 1,000,000.

       (d)    During the year ended December 31, 1999, the Company issued
              2,000,000 common shares at $0.20 per share for gross proceeds of
              $400,000, less financing costs of $12,000.

5.     RELATED PARTY TRANSACTIONS

       Management fees paid or payable to directors amounted to $17,130 (March
       31, 1999 - $Nil; December 31, 1999 - $50,495).
<PAGE>   8
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

        (a) PLAN OF OPERATION. ASP's plan of operation is to explore the
acquisition of viable operating companies. We anticipate that ASP can satisfy
its current cash requirements for a period of 6-8 months and do not anticipate
that we will have to raise additional funds in the next 2 months. If ASP
requires additional capital in order to acquire an operating company, we plan to
raise such additional funds through a private placement of common stock. We
will satisfy legal and accounting costs associated with filing reports under
the Exchange Act through ASP's cash reserves.

        (b) FACTORS THAT COULD AFFECT OPERATING RESULTS

        Forward Looking Statements. This Registration Statement on Form 10-SB
contains forward-looking statements. Additional written and oral forward-looking
statements may be made by ASP from time to time in SEC filings and otherwise.
Results predicted by forward-looking statements, including, without limitation,
those relating to our future business prospects, revenues, working capital,
liquidity, capital needs, interest costs, and income are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those indicated in the forward-looking statements, due to the following
factors, among other risks and factors identified from time to time in ASP's
filings with the SEC.

        ASP Will Need Additional Capital in the Future. We anticipate that ASP
can satisfy its current cash requirements for a period of 6-8 months. However,
the actual amounts and timing of ASP's future capital requirements may vary
significantly from management's estimates. ASP intends to evaluate strategic
alliances and acquisition opportunities on an ongoing basis as they may arise
and ASP may require additional financing if management elects to pursue any such
opportunities. Such additional financing may not be available on acceptable
terms or at all. A lack of financing may require ASP to delay or abandon plans
for entering into such strategic alliances or acquisition opportunities.

        ASP Has a History of Losses and Cannot Be Certain to Achieve Positive
Cash Flow. For the three month period ended March 31, 1999 ASP had a net loss
of $27,429. ASP had a net loss of $52,469 for the same period in 2000. ASP
presently has no revenue producing operations.

        Even if ASP acquires an operating entity, it cannot be certain that it
will achieve or sustain positive cash flow or profitability from its operations.
ASP's net losses and negative cash flow are likely to continue even longer than
management currently anticipates if ASP does not acquire a viable operating
entity and if it does not attract and retain qualified personnel. ASP's ability
to achieve its objectives is subject to financial, competitive, regulatory,
legal, technical and other factors, many of which are beyond ASP's control.

        ASP Is Subject to Risks As It Makes Acquisitions and Engages in
Strategic Alliances. As part of its business strategy, ASP intends to acquire,
make investments in, or enter into strategic alliances with as yet unidentified
operating companies. Any such future acquisitions, investments and/or strategic
alliances would involve risks, such as:

-     incorrect assessment of the value, strengths and weaknesses of acquisition
      and investment opportunities;

-     underestimating the difficulty of integrating the operations and personnel
      of newly acquired companies;

-     the potential disruption of any ongoing business, including possible
      diversions of resources and management time; and

-     the threat of impairing relationships with employees and customers as a
      result of changes in management or ownership.

        ASP cannot assure you that it will be successful in overcoming these
risks. Moreover, ASP cannot be certain that any desired acquisition, investment
and/or strategic alliance could be made in a timely manner or on terms and
conditions acceptable to ASP. Neither can ASP assure you that ASP will be
successful in identifying attractive acquisition candidates. We expect that
competition for such acquisitions may be significant. ASP may compete with
others who have similar acquisition strategies, many of whom may be larger and
have greater financial and other resources than ASP.

        An additional risk associated with acquisitions is that many attractive
acquisition candidates do not have audited financial statements and have varying
degrees of internal controls. Although ASP may believe that the available
financial information for a particular business is reliable, it cannot guarantee
that a subsequent audit would not reveal matters of significance, including with
respect to liabilities, contingent or otherwise. ASP's management expects that,
from time to time in the future, ASP will enter into acquisition agreements, the
pro forma effect of which is not known and cannot be predicted.

        ASP Does Not Expect to Pay Dividends. ASP does not anticipate paying
cash dividends in the foreseeable future.
<PAGE>   9


                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

NONE

ITEM 2.  CHANGES IN SECURITIES

NOT APPLICABLE

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

NOT APPLICABLE

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

NONE

ITEM 5.  OTHER INFORMATION

NONE

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

            (a)         Exhibits

<TABLE>
<CAPTION>
       Item
      Number                          Description
     <S>      <C>
       3.1    Articles of Incorporation of Airsupport Services Corp., filed
              March 21, 1989 (filed as Exhibit 3.1 to ASP's Form 10SB12G filed
              as of December 21, 1999, and incorporated herein by reference).

       3.2    Articles of Amendment to Airsupport Services Corp., filed May 15,
              1998 (filed as Exhibit 3.1 to ASP's Form 10SB12G filed as of
              December 21, 1999, and incorporated herein by reference).

       3.3    Bylaws of ASP Ventures Corp. (filed as Exhibit 3.1 to ASP's Form
              10SB12G filed as of December 21, 1999, and incorporated herein by
              reference).

       27     Financial Data Schedule (filed herewith).
</TABLE>

            (b)         Reports on Form 8-K

            NONE


<PAGE>   10


SIGNATURES

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

                                                 ASP Ventures Corp.

Dated             May 19, 2000                   by: /s/ Ross Wilmot
                                                 ------------------------
                                                 Ross Wilmot
                                                 President and Director

Dated             May 19, 2000                   by: /s/ G.W. Norman Wareham
                                                 ------------------------
                                                 G.W. Norman Wareham
                                                 Secretary, Treasurer and
                                                 Director