<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(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 SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

         For the transition period from __________ to __________

         Commission file number:  0-17287
                                  -------

                              GLOBAL OUTDOORS, INC.
--------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

        Alaska                                             33-0074499
-------------------------                          ----------------------------
(State or other Juris-                             (IRS Employer Identification
 diction of incorporation                                   Number)
 or organization)

                      43445 BUSINESS PARK DRIVE, SUITE 113
                           TEMECULA, CALIFORNIA 92590
--------------------------------------------------------------------------------
              (Address and zip code of principal executive offices)

                                 (909) 699-4749
--------------------------------------------------------------------------------
                (Issuer's telephone number, including area code)

              (Former name, former address and former fiscal year,
                         if changed since last report)
--------------------------------------------------------------------------------

Check whether the Issuer (1) has 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 the filing requirements for at least
the past 90 days. Yes [X ] NO [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:
                                                    Number of Shares Outstanding
           Class                                         at August 14, 2002
 ----------------------------                       ----------------------------
 Common Stock, $.02 par value                                 5,369,098

<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                              FINANCIAL STATEMENTS
                                 PART I - ITEM 1

--------------------------------------------------------------------------------
                      FOR THE QUARTER ENDED JUNE 30, 2002
--------------------------------------------------------------------------------

                              GLOBAL OUTDOORS, INC.

                                      -2-




<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                     ASSETS

                                                       June 30     December 31
                                                    -------------  -------------
                                                         2002           2001
                                                    -------------  -------------
                                                     (unaudited)
Current assets:
      Cash and cash equivalents                     $  2,976,641   $  2,574,429
      Accounts receivable, net                         1,873,368      1,581,272
      Inventories                                         75,941         76,110
      Deferred tax assets, net                           840,813        840,813
      Receivable from stockholders                        62,007         62,007
      Other current assets                               451,310        102,914
                                                    -------------  -------------
             Total current assets                      6,280,080      5,237,545
                                                    -------------  -------------

Property, plant and equipment, net:
      Membership recreational mining properties        1,344,723      1,353,278
      Alaska recreational mining properties            1,051,246      1,098,475
      Outdoor Channel equipment and improvements         996,140        711,138
      Other equipment and leasehold improvements         582,780        598,731
                                                    -------------  -------------
         Property, plant and equipment, net            3,974,889      3,761,622
                                                    -------------  -------------

Trademark, net                                           139,495        146,785
Deferred tax assets, net                                  26,563         26,563
Deposits and other assets                                 41,400         41,629
                                                    -------------  -------------
             Totals                                 $ 10,462,427   $  9,214,144
                                                    =============  =============

See Notes to Condensed Consolidated Financial Statements.

                                      -3-



<PAGE>

<TABLE>
                                    GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                                    CONDENSED CONSOLIDATED BALANCE SHEETS

<CAPTION>
                                     LIABILITIES AND STOCKHOLDERS' EQUITY

                                                                                  June 30      December 31
                                                                               -------------  -------------
                                                                                    2002           2001
                                                                               -------------  -------------
                                                                                (unaudited)
<S>                                                                            <C>            <C>
Current liabilities:
      Accounts payable and accrued expenses                                    $    702,626   $  1,102,492
      Customer deposits                                                             512,010
      Current portion of notes and capital lease obligations payable                184,953        233,282
      Current portion of stockholder loans                                          300,714        313,055
                                                                               -------------  -------------
             Total current liabilities                                            1,700,303      1,648,829

Stockholder loans, net of current portion                                           220,998        236,826
Other notes and capital lease obligations payable, net of current portion           277,153        357,665
Deferred revenues                                                                 1,439,778      1,309,560

Deferred satellite rent obligations                                                 482,150        516,260
Deferred compensation                                                               317,750        317,750
                                                                               -------------  -------------
             Total liabilities                                                    4,438,132      4,386,890
                                                                               -------------  -------------
Commitments and contingencies

Minority interest in subsidiary                                                   1,038,260        811,965
                                                                               -------------  -------------
Stockholders' equity:
      Convertible preferred stock, nonvoting, 10% non-cumulative, no liquidation
         preference, $.001 par value; 25,000,000 shares
         authorized; 58,725 shares issued and outstanding at December 31, 2001                          59
      Common stock, $.02 par value; 75,000,000 shares authorized;
         5,369,098 and 5,281,523 shares issued and outstanding                      107,382        105,630
      Less common stock subscriptions receivable                                   (287,050)      (221,250)
      Treasury Stock, at cost; 67,500 and 63,500 shares at
         June 30, 2002 and December 31, 2001, respectively                         (325,942)      (289,532)
      Additional paid-in capital                                                  3,603,833      3,516,125
      Retained Earnings                                                           1,887,812        904,257
                                                                               -------------  -------------
             Total stockholders' equity                                           4,986,035      4,015,289
                                                                               -------------  -------------

             Totals                                                             $10,462,427    $ 9,214,144
                                                                               =============  =============
</TABLE>

See Notes to Condensed Consolidated Financial Statements.

                                      -4-

<PAGE>
<TABLE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
<CAPTION>

                                                   Three Months Ended June 30           Six Months Ended June 30
                                                  ------------------------------    ------------------------------
                                                           (unaudited)                        (unaudited)
Revenues:                                              2002            2001              2002            2001
                                                  -------------    -------------     -------------    -------------
<S>                                               <C>              <C>               <C>              <C>
       Advertising                                $  2,537,295     $  2,346,674      $  4,793,981     $  4,334,710
       Subscriber fees                               1,425,006        1,005,878         2,748,652        1,695,989

       Membership services                             843,181          799,267         1,737,022        1,692,769
       Trips and outings                                47,682           51,006            78,502           89,140
       Other Income                                     12,209           45,368            61,926           50,046
                                                  -------------    -------------     -------------    -------------
            Total revenues                           4,865,373        4,248,193         9,420,083        7,862,654
                                                  -------------    -------------     -------------    -------------

Expenses:
       Satellite transmission fees                     600,968          551,649         1,172,433        1,104,278
       Advertising and programming                     625,441          485,859         1,219,988        1,120,300
       Trips and outings                                23,600           20,050            43,700           39,850
       Selling, general and administrative           2,570,677        2,909,921         4,923,595        5,272,644
                                                  -------------    -------------     -------------    -------------

            Total expenses                           3,820,686        3,967,479         7,359,716        7,537,072
                                                  -------------    -------------     -------------    -------------

Income  from operations                              1,044,687          280,714         2,060,367          325,582

Other income (expense):
   Gain on issuance of common stock of subsidiary       46,786                             46,786
   Interest expense                                    (16,396)         (26,773)          (37,290)         (57,749)
   Interest income                                      18,465           32,783            34,664           52,130
                                                  -------------    -------------     -------------    -------------

Income before provision for
   income taxes and minority interest                1,093,542          286,724         2,104,527          319,963

Provision for income taxes                             427,865          122,836           823,095          137,000
                                                  -------------    -------------     -------------    -------------

Income before minority interest                        665,677          163,888         1,281,432          182,963

Minority interest in net income of
   consolidated subsidiary                             112,020           52,355           219,838           65,192
                                                  -------------    -------------     -------------    -------------

Net income                                             553,657          111,533         1,061,594          117,771

Preferred stock dividends                                                                 (90,038)
                                                  -------------    -------------     -------------    -------------

Net income applicable to common stock             $    553,657     $    111,533      $  1,061,594     $    117,771
                                                  =============    =============     =============    =============

Earnings per common share:
  Basic                                           $       0.10     $       0.02      $       0.18     $       0.02
                                                  =============    =============     =============    =============
  Diluted                                         $       0.10     $       0.02      $       0.17     $       0.02
                                                  =============    =============     =============    =============

Weighted average number of common shares outstanding:
  Basic                                              5,299,521        5,224,704         5,267,631        5,224,399
                                                  =============    =============     =============    =============
  Diluted                                            5,760,491        5,710,976         5,730,923        5,702,674
                                                  =============    =============     =============    =============

</TABLE>

See Notes to Condensed Consolidated Financial Statements.

                                       -5-
<PAGE>

<TABLE>
                               GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

<CAPTION>
                                                                  Six Months Ended June 30,
                                                                -------------------------------
                                                                     2002             2001
                                                                -------------------------------
                                                                          (unaudited)
<S>                                                             <C>              <C>
Operating activities:
    Net income                                                  $ 1,061,594      $   117,771
    Adjustments to reconcile net income to net cash
        provided by operating activities:
        Depreciation and amortization                               349,289          252,073
        Provision for doubtful accounts                             134,112          306,618
        Deferred income taxes                                                        108,716
        Interest on stock subscription receivable                                    (13,293)
        Stock option compensation expense                                             56,250
        Common stock of subsidiary issued for services                9,015
        Gain on issuance of common stock of subsidiary             (46, 786)
        Minority interest in net income of consolidated
           subsidiary                                               226,295           65,192
    Cash provided by changes in operating assets
        and liabilities:
        Accounts receivable                                        (426,209)        (214,863)
        Inventories                                                     169             (500)
        Other current assets                                       (348,396)        (438,678)
        Deposits and other assets                                       229           45,273
        Accounts payable and accrued expenses                       149,915          505,283
        Deferred revenues                                           130,218         (135,135)
        Deferred satellite rent obligations                         (34,110)         (34,110)
        Deferred compensation                                                         30,250
                                                                ------------     ------------

           Net cash provided by operating activities              1,205,335          650,847
                                                                ------------     ------------

Investing activities:
    Purchases of property, plant, and equipment                    (555,266)        (327,718)
                                                                ------------     ------------

Financing activities:
    Principal payments on long-term debt and capital leases        (128,841)        (334,135)
    Principal payments on stockholder loans                         (28,169)        (132,067)
    Proceeds from long-term debt                                                     350,000
    Purchase of treasury stock                                      (36,410)         (66,799)
    Proceeds from exercise of stock options                          35,601
    Dividends paid on preferred stock                               (90,038)
                                                                ------------     ------------

           Net cash used in financing activities                   (247,857)        (183,001)
                                                                ------------     ------------

Net increase in cash and cash equivalents                           402,212          140,128

Cash and cash equivalents, beginning of period                    2,574,429        1,844,449
                                                                ------------     ------------

Cash and cash equivalents, end of period                        $ 2,976,641      $ 1,984,577
                                                                ============     ============
</TABLE>

See Notes to Condensed Consolidated Financial Statements.

                                      -6-



<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

Note 1.  Organization, Management Statement and Reference to Form 10-KSB

              Organization
              ------------

              Global Outdoors, Inc. (the "Company") owns a majority interest in
              The Outdoor Channel, Inc. ("The Outdoor Channel" or "Channel"), a
              national television network devoted primarily to traditional
              outdoor activities, such as hunting, fishing, shooting sports,
              rodeo and recreational gold prospecting. The Company has a variety
              of other business activities. The Company receives revenues from
              the sale of memberships in a gold prospecting club, Gold
              Prospectors' Association of America, Inc. ("GPAA") and from the
              sale of memberships in Lost Dutchman's (LDMA-AU, Inc.) which
              entitle members to engage in recreational prospecting on its
              California, Oregon, Nevada, Arizona, Colorado, Georgia, North
              Carolina and South Carolina properties. The Company has a mutual
              use agreement with another organization whose members are entitled
              to engage in recreational mining on certain of each other's
              properties. The Company receives revenues from its trips and
              outings division which includes its "Alaska Trip," a recreational
              gold mining expedition to the Company's Cripple River property
              located near Nome, Alaska, advertising revenue in a bi-monthly
              magazine, advertising revenues through cable television
              programming on The Outdoor Channel, Inc. and through merchandise
              sales.

Note 2.  Unaudited Interim Financial Statements

              In the opinion of management, the accompanying unaudited condensed
              consolidated financial statements reflect all adjustments,
              consisting of normal recurring accruals, necessary to present
              fairly the financial position of the Company as of June 30, 2002
              and its results of operations for the three and six months ended
              June 30, 2002 and 2001 and cash flows for the six months ended
              June 30, 2002 and 2001. Information included in the
              condensed consolidated balance sheet as of December 31, 2001 has
              been derived from, and certain terms used herein are defined in,
              the audited financial statements of the Company as of December 31,
              2001 and for the years ended December 31, 2001 and 2000 (the
              "Audited Financial Statements") included in the Company's Annual
              Report on Form 10-KSB (the "10-KSB") for the year ended December
              31, 2001 that was previously filed with the Securities and
              Exchange Commission (the "SEC"). Pursuant to the rules and
              regulations of the SEC, certain information and disclosures
              normally included in financial statements prepared in accordance
              with accounting principles generally accepted in the United States
              of America have been condensed or omitted from these financial
              statements unless significant changes have taken place since the
              end of the most recent fiscal year. Accordingly, these unaudited
              condensed consolidated financial statements should be read in
              conjunction with the Audited Financial Statements and the other
              information also included in the 10-KSB.

              The results of the Company's operations for the three and six
              months months ended June 30, 2002 are not necessarily indicative
              of the results of operations for the full year ending December 31,
              2002.

                                      -7-



<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

Note 3.  Earnings per share

              The Company has presented "basic" earnings per common share in the
              accompanying consolidated statements of income in accordance
              with the provisions of Statement of Financial Accounting Standards
              No. 128, "Earnings per Share" ("SFAS 128"). Basic earnings per
              common share is calculated by dividing net income applicable to
              common stock by the weighted average number of common shares
              outstanding during each period. The calculation of diluted
              earnings per common share is similar to that of basic earnings per
              common share, except that the denominator is increased to include
              the number of additional common shares that would have been
              outstanding if all potentially dilutive common shares, such as
              those that could be issued upon the exercise of stock options and
              warrants and the conversion of preferred stock, were issued during
              the period.

              The computations of diluted earnings per common share for the
              three and six months ended June 30, 2002 and 2001 take into
              account the effects on the weighted average number of common
              shares outstanding of the assumed exercise of all of the Company's
              outstanding stock options and warrants, adjusted for the
              application of the treasury stock method, and the conversion of
              all of the Company's outstanding shares of preferred stock.

              The following table presents the calculation of the number of
              shares outstanding for the calculation of basic and diluted
              earnings per share in the three and six months ended June 30, 2002
              and 2001:

<TABLE>
<CAPTION>
                                                              Three months  Three months   Six months     Six months
                                                                  Ended        Ended         Ended           Ended
                                                              June 30,2002  June 30,2001  June 30,2002   June 30,2001
                                                              ------------  ------------  ------------   ------------
       <S>                                                      <C>           <C>           <C>             <C>
       Weighted average common shares outstanding and basic
       earnings per common share                                5,299,521     5,224,704    5,267,631       5,224,399

       Dilutive effect of potential common shares issuable
       upon conversion of preferred stock                                        60,675                       60,675

       Dilutive effect of potential common shares issuable upon
       exercise of stock options and warrants, as adjusted for
       the application of the treasury stock method               460,970       425,597      463,292         417,600
                                                              ------------  ------------  ------------   ------------
       Diluted weighted average common shares
       outstanding and diluted earnings per
       common share                                             5,760,491     5,710,976    5,730,923       5,702,674
                                                              ============  ============  ============   ============
</TABLE>

                                       -8-




<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

Note 4.  Segment information

              The Company follows the provisions of Statement of Financial
              Accounting Standards No. 131, DISCLOSURES ABOUT SEGMENTS OF AN
              ENTERPRISE AND RELATED INFORMATION ("SFAS 131"). Pursuant to the
              provisions of SFAS 131, the Company is reporting segment
              information in the same format reviewed by the Company's
              management (the "management approach"). The Company segregates its
              business activities into the major areas that generate revenues.
              LDMA-AU and GPAA membership sales and related activities are
              reported separately as they deal with recreational prospecting and
              rights to use land and facilities for camping and recreational
              vehicle parking. Trips and outings constitute another business
              activity of the Company whereby members can participate in a group
              prospecting activity at a Company site, usually lasting for a week
              or less. The annual Alaska trip, included in this category, allows
              members to travel to the Company's Alaska property from one to six
              weeks to participate in prospecting activities. The Outdoor
              Channel is a separate business activity whereby the subsidiary
              broadcasts television programming on "The Outdoor Channel" 24
              hours a day, seven days a week, and recognizes advertising and
              subscription revenues.

              Information with respect to these reportable business segments for
              the three months and six months ended June 30, 2002 is as follows:

<TABLE>
<CAPTION>
                                             Income (Loss)                     Depreciation     Additions to
                                                Before           Total             and         Property, Plant
                              Revenues       Income Taxes       Assets         Amortization    and Improvements
                            ------------     ------------     ------------     ------------     ------------
<S>                         <C>              <C>              <C>              <C>              <C>
Three months ended June 30, 2002

Trips and Outings           $    47,682      $    24,082      $ 2,395,969      $    21,000      $    70,063
The Outdoor Channel           3,874,030        1,089,064        7,797,195           76,860          261,627
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales            943,661          (19,604)         269,263           76,785           21,750
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 4,865,373      $ 1,093,542      $10,462,427      $   174,645      $   353,440
                            ============     ============     ============     ============     ============
</TABLE>


<TABLE>
<CAPTION>
                                             Income (Loss)                     Depreciation     Additions to
                                                Before           Total             and         Property, Plant
                              Revenues       Income Taxes       Assets         Amortization    and Improvements
                            ------------     ------------     ------------     ------------     ------------
<S>                         <C>              <C>              <C>              <C>              <C>
Six months ended June 30, 2002

Trips and Outings           $    78,502      $    34,802      $ 2,395,969      $    42,000      $    94,214
The Outdoor Channel           7,444,464        2,097,583        7,797,195          153,720          435,001
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales          1,897,117          (27,858)         269,263          153,569           26,051
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 9,420,083      $ 2,104,527      $10,462,427      $   349,289      $   555,266
                            ============     ============     ============     ============     ============
</TABLE>

                                      -9-


<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)




Note 4.  Segment Information (concluded)

              Information with respect to these reportable business segments for
              the three months and six months ended June 30, 2001 is as follows:

<TABLE>
<CAPTION>
                                             Income (Loss)                     Depreciation     Additions to
                                                Before           Total             and         Property, Plant
                              Revenues       Income Taxes       Assets         Amortization    and Improvements
                            ------------     ------------     ------------     ------------     ------------
<S>                         <C>              <C>              <C>              <C>              <C>
Three months ended June 30, 2001

Trips and Outings           $    51,006      $     3,659      $ 2,555,007      $    27,297      $    53,854
The Outdoor Channel           3,286,614          449,157        4,171,960           51,354           46,065
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales            910,573         (166,092)       2,828,498           56,997          134,988
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 4,248,193      $   286,724      $ 9,555,465      $   135,648      $   234,907
                            ============     ============     ============     ============     ============
</TABLE>


<TABLE>
<CAPTION>
                                             Income (Loss)                     Depreciation     Additions to
                                                Before           Total             and         Property, Plant
                              Revenues       Income Taxes       Assets         Amortization    and Improvements
                            ------------     ------------     ------------     ------------     ------------
<S>                         <C>              <C>              <C>              <C>              <C>
Six months ended June 30, 2001

Trips and Outings           $    89,140      $    21,993      $ 2,555,007      $    44,619      $   110,498
The Outdoor Channel           5,922,808          582,879        4,171,960           95,526          169,205
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales          1,850,706         (284,909)       2,828,498          111,928          262,970
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 7,862,654      $   319,963      $ 9,555,465      $   252,073      $   542,673
                            ============     ============     ============     ============     ============
</TABLE>



                                      -10-

<PAGE>
                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note 5.   Stockholders' Equity

              During the quarter ended June 30, 2002,  the Company issued 400
              shares of common stock to a former employee pursuant to the
              exercise of an option.  In addition the Company issued 11,000
              shares to former consultants pursuant to the exercise of options.

              During the quarter ended June 30, 2002, the Outdoor Channel issued
              14,992 shares of common stock to board members for board meeting
              attendance between January 2000 and September 2000 and for board
              meeting expenses.  In addition during the quarter ended June 30,
              2002, the Outdoor Channel issued 3,500 shares of common stock to
              a former employee pursuant to the exercise of an option.

              In addition during the quarter ended June 30, 2002, the Company
              entered into an agreement with a former employee for the exercise
              of stock options. The Company loaned the former employee $36,000
              for the purchase of 12,000 shares of common stock. The receivable
              bears interest at 5% per year, has a maturity date of eighteen
              months from the date of the agreement and is collateralized by
              6,000 shares of the common stock pledged to the Company. The note
              receivable has been included in common stock subscriptions
              receivable for the period ended June 30, 2002.

                                      -11-

<PAGE>

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

This report on Form 10-QSB contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The Company intends that such forward-looking
statements be subject to the safe harbors created thereby. This report should be
read in conjunction with the Company's report on Form 10-KSB for the year ended
December 31, 2001.

COMPARISON OF THREE MONTHS ENDED JUNE 30, 2002 AND JUNE 30, 2001

     REVENUES. The Company's revenues include revenues from advertising fees,
subscriber fees, GPAA and Lost Dutchman's membership sales, product sales and
trips and outings sales. Advertising fees result from the sale of advertising
time on The Outdoor Channel and from advertising space in publications such as
the Gold Prospector magazine. Revenues for the quarter ended June 30, 2002 were
$4,865,373, an increase of $617,180, or 15%, compared to revenues of $4,248,193
for the quarter ended June 30, 2001. This increase was the result of changes in
several items composing revenue. Advertising increased to $2,537,295 for the
quarter ended June 30, 2002 from $2,346,674 for the quarter ended June 30, 2001,
primarily due to an increase in advertising revenue on The Outdoor Channel.
Subscriber fees increased to $1,425,006 for the quarter ended June 30, 2002 from
$1,005,878 for the quarter ended June 30, 2001, primarily due to increases in
cable affiliate subscribers. Membership services increased to $843,181 for the
quarter ended June 30, 2002 from $799,267 for the quarter ended June 30, 2000
due to the increased distribution of the Outdoor Channel.

     EXPENSES. The Company's expenses consist primarily of the cost of satellite
transponder and uplink facilities, programming, advertising and promotion, trips
and outings expenses, sales and administrative salaries, office expenses and
general overhead. Expenses for the quarter ended June 30, 2002 were $3,820,686 a
decrease of $146,793, or 4%, compared to $3,967,479 for the quarter ended June
30, 2001, due to the net effect of The Outdoor Channel's personnel expenses
along with advertising expenses increasing and bad debts along with legal
expense decreasing. Selling, general and administrative expenses decreased to
$2,570,677 for the quarter ended June 30, 2002, compared to $2,909,921 for the
quarter ended June 30, 2001. Advertising and programming increased to $625,441
for the quarter ended June 30, 2002, compared to $485,859 for the quarter ended
June 30, 2001, due to The Outdoor Channel's consumer and trade awareness
campaigns. Satellite transmission fees increased to $600,968 for the quarter
ended June 30, 2002 compared to $551,649 for the quarter ended June 30, 2001,
due to additional fixed contracts.

     INCOME BEFORE PROVISION FOR INCOME TAXES AND MINORITY INTEREST. Income
before provision for income taxes and minority interest was higher as a
percentage of revenues at 22% for the quarter ended June 30, 2002 compared to 7%
for the quarter ended June 30, 2001. This was due primarily to an increase in
advertising and subscriber sales at The Outdoor Channel and a decrease in total
expenses for the quarter ended June 30, 2002, compared to the quarter ended June
30, 2001.

COMPARISON OF SIX MONTHS ENDED JUNE 30, 2002 AND JUNE 30, 2001

     REVENUES. The Company's revenues include revenues from advertising fees,
subscriber fees, GPAA and Lost Dutchman's membership sales, product sales and
trips and outings sales. Advertising fees result from the sale of advertising
time on The Outdoor Channel and from advertising space in publications such as
the Gold Prospector magazine. Revenues for the six months ended June 30, 2002
were $9,420,083, an increase of $1,557,429, or 20%, compared to revenues of
$7,862,654 for the six months ended June 30, 2001. This increase was the result
of changes in several items composing revenue. Advertising increased to
$4,793,981 for the six months ended June 30, 2002 from $4,334,710 for the six
months ended June 30, 2001, primarily due to an increase in advertising revenue
on The Outdoor Channel. Subscriber fees increased to $2,748,652 for the six
months ended June 30, 2002 from $1,695,989 for the six months ended June 30,
2001, primarily due to increases in cable affiliate subscribers. Membership
services increased slightly to $1,737,022 for the six months ended June 30, 2002
from $1,692,769 for the six months ended June 30, 2001.

                                      -12-
<PAGE>

     EXPENSES. The Company's expenses consist primarily of the cost of satellite
transponder and uplink facilities, programming, advertising and promotion, trips
and outings expenses, sales and administrative salaries, office expenses and
general overhead. Expenses for the six months ended June 30, 2002 were
$7,359,716 a decrease of $177,356, or 2%, compared to $7,537,072 for the six
months ended June 30, 2001, due to the net effect of The Outdoor Channel's
personnel expenses along with advertising expenses increasing and bad debts
along with legal expense decreasing. Selling, general and administrative
expenses decreased to $4,923,595 for the six months ended June 30, 2002,
compared to $5,272,644 for the six months ended June 30, 2001. Advertising and
programming increased to $1,219,988 for the six months ended June 30, 2002,
compared to $1,120,300 for the six months ended June 30, 2001, due to The
Outdoor Channel's consumer and trade awareness campaigns. Satellite transmission
fees increased to $1,172,433 for the six months ended June 30, 2002 compared to
$1,104,278 for the six months ended June 30, 2001, due to additional fixed
contracts.

     INCOME BEFORE PROVISION FOR INCOME TAXES AND MINORITY INTEREST. Income
before provision for income taxes and minority interest was higher as a
percentage of revenues at 22% for the six months ended June 30, 2002 compared to
4% for the six months ended June 30, 2001. This was due primarily to an increase
in advertising and subscriber sales at The Outdoor Channel and a decrease in
total expenses for the six months ended June 30, 2002, compared to the six
months ended June 30, 2001.

GENERAL

     Global Outdoors, Inc. (the "Company" or "Global") is the principal owner of
The Outdoor Channel, Inc. which owns and operates The Outdoor Channel ("The
Outdoor Channel" or "Channel"), the first national television network devoted
primarily to traditional outdoor activities, such as hunting, fishing, shooting
sports, rodeo and recreational gold prospecting. The Company also owns and
operates related businesses which serve the interests of viewers of The Outdoor
Channel and other outdoor enthusiasts. These related businesses include,
LDMA-AU, Inc. ("Lost Dutchman's"), Gold Prospectors' Association of America,
Inc. ("GPAA") and the Trips Division. Lost Dutchman's is a national recreational
gold prospecting campground club with over 6,000 members and properties in
California, Oregon, Nevada, Arizona, Colorado, Georgia, South Carolina and North
Carolina. GPAA is the largest recreational gold prospecting club in the world
with approximately 34,000 active members. GPAA also sells products and services
related to recreational gold prospecting and is the publisher of the Gold
Prospector magazine. The Company's Trips and outings Division sponsors unique
recreational prospecting trips to the historic Mother Lode area of California
and to the Company's 2,300 acre camp, located 11 miles west of Nome, Alaska.

     The Company together with its predecessors has been selling its GPAA club
memberships since 1968. GPAA membership sales took a marked upswing in 1992 in
conjunction with the airing of the "Gold Prospector Show," a show the Company
has owned and produced since 1990. During 1992, the "Gold Prospector Show" was
broadcast on various television and cable channels, for which the Company
purchased air time. In 1993, GPAA launched The Outdoor Channel and, since then,
broadcasts of the "Gold Prospector Show" and related sales of GPAA memberships
have occurred almost exclusively on The Outdoor Channel. The Company intends
that The Outdoor Channel be used as a primary vehicle to promote the Company's
services and products and anticipates that it will be a factor in the future
growth of GPAA, Lost Dutchman's and the Trips Division. In that regard, in 1998
the Company entered into a long term contract with The Outdoor Channel whereby
the Company has the rights to ten hours of programming time and thirty sixty
second advertising spots per week. The Outdoor Channel became profitable and
cash flow positive in 1999. Subsequently, the Company has directed more
resources to other Company divisions.

     Although The Outdoor Channel is not aligned with any sizable entertainment
or cable company, as are many other channels, it has, to date, achieved full
visibility in the cable industry. The Outdoor Channel is committed to converting
visibility for the Channel's programming into greater distribution into cable
and direct broadcast satellite ("DBS") households. Greater distribution will
allow The Outdoor Channel to charge higher advertising rates, command higher
subscriber fees from cable and DBS affiliates, attract more advertisers and
receive greater revenues for the Company's products.

                                      -13-

<PAGE>

To accomplish the objective of obtaining increased distribution, the
Channel seeks to sign national carriage agreements with multi cable system
operators ("MSOs") and DBS systems and thereafter carriage agreements with the
MSOs' individual cable affiliates. Efforts to obtain distribution for The
Outdoor Channel are broad based and are not limited to areas where there are the
greatest number of outdoor enthusiasts. As of July 2002, The Outdoor Channel was
launched on approximately 4,352 cable and DBS systems with availability to
approximately 43 million households of which The Outdoor Channel has
approximately 15.2 million subscribers. From January 1, 2002 to July 31, 2002,
the Channel grew by approximately 2 million cable and DBS subscribers.

    In August 2002, the Company retired the remaining balance of approximately
$29,000 due on its Junction Bar Placer property.  The Company now owns all
it's properties free and clear of any mortgages.

    The Outdoor Channel is deemphasizing its exploration of strategic partners
and other strategic alternatives.  In August 2002, the Company's engagement with
Bear Stearns & Company, Inc., a Wall Street investment bank expires.

     As of August 2002, the Company is generating sufficient cash flow from
operations to meet its short-term cash flow requirements. The Outdoor Channel is
also meeting its short-term cash flow requirements and is profitable. As of July
24, 2002, The Outdoor Channel has obtained a $1,000,000 line of credit from it's
bank for business purposes. As of August 2002, The Outdoor Channel has not
utilized the line of credit. Management believes that the Company's existing
cash resources and anticipated cash flow from operations will be sufficient to
fund the Company's operations at current and moderately expanded levels for the
next twelve months. In the event that the Company desires to grow at an
accelerated rate, to the extent that its anticipated cash flow is insufficient
to finance the Company's working capital requirements, the Company could be
required to seek financing. There can be no assurance that equity or debt
financing will be available if needed, or, if available, will be on terms
favorable to the Company or its shareholders. Significant dilution may be
incurred by present shareholders as a result of any such financing. At the
current level of operations, the Company is retiring some of its existing debt
and intends to make further improvements to some of its other properties. At the
current level of operations, the Channel has increased its promotional
activities and augmented its professional staff.

     Since July 30, 1997, the Company's Common Stock has been traded on the
NASD's over the counter Bulletin Board under the symbol "GLRS." Price quotes on
the Company's Common Stock can be obtained from any stockbroker. Also, price
quotes can be obtained from a number of other sources including internet sites
on America On Line, Yahoo Finance and cnbc.com.

                                      -14-


<PAGE>
                           Part II - Other Information

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

(a)      The Company's annual meeting of shareholders was held June 12, 2002.

(b)      Perry T. Massie, Thomas H. Massie and Richard K. Dickson II were
         reelected directors of the Company.

(c)      1.       Proposal to Elect as Directors of Global: Perry T. Massie,
                  Thomas H. Massie and Richard K. Dickson II.

         There were 4,406,761 votes for and 320 votes withheld in connection
         with the election of Perry T. Massie. There wer 4,406,761 votes for and
         320 votes withheld in connection with the election of Thomas H. Massie.
         There were 4,406,761 votes for and 320 votes withheld in connection
         with the election of Richard K. Dickson II.

         2.       Proposals related to the Company's Amended and Restated
                  Articles of Incorporation:

                  a.       Proposal to adopt the Company's Amended and Restated
                           Articles of Incorporation.

                  There were 4,401,043 votes for, 1,320 votes against and 4,358
                  votes to abstain.

                  b.       Proposal to increase the authorized common stock to
                           75,000,000 shares and the preferred stock 25,000,000
                           shares.

                  There were 4,392,063 votes for, 9,250 votes against and 5,518
                  votes to abstain.

                  c.       Proposal to increase the authorized number of
                           directors to nine.

                  There were 4,392,251 votes for, 13,512 votes against and 1,318
                  votes to abstain.

                  d.       Proposal to limit directors' liability.

                  There were 4,396,493 votes for, 9,280 votes against and 1,308
                  votes to abstain.

                  e.       Proposal to have a majority vote for further
                           amendments to the Articles of Incorporation.

                  There were 4,403,868 votes for, 1,846 votes against and 1,367
                  votes to abstain.

                  f.       Proposal to have amendments to Bylaws reserved
                           exclusively for Board action.

                  There were 4,389,385 votes for, 13,456 votes against and 4,240
                  votes to abstain.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

    (a)  Exhibits
         --------

     Exhibit
     Number              Description
     ------              -----------

     (3)            Amended and Restated Articles of Incorporation of Global
                    Outdoor, Inc., dated June 12, 2002 and filed with the State
                    of Alaska Commissioner of the Department of Community and
                    Economic Development, Division of Banking Securities and
                    Corporations on June 21, 2002.

    (b)  Reports on Form 8-K
         -------------------

         None.

                                      -15-




<PAGE>

                                   SIGNATURES

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

                                        GLOBAL OUTDOORS, INC.
                                        (Registrant)

Dated:  August 14, 2002                    By:    /S/ PERRY T. MASSIE
                                            ----------------------------
                                            PERRY T. MASSIE,
                                            President and Chief
                                            Executive Officer

Dated:  August 14, 2002                    By:    /S/ MARK C. CORCORAN
                                            ----------------------------
                                            MARK C. CORCORAN,
                                            Controller
                                            (Principal Financial and Accounting
                                            Officer)

                                      -16-