<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 MARCH 31, 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 April 30, 2002
 ----------------------------                       ----------------------------
 Common Stock, $.02 par value                                 5,345,698


<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                              FINANCIAL STATEMENTS
                                 PART I - ITEM 1

--------------------------------------------------------------------------------
                      FOR THE QUARTER ENDED MARCH 31, 2002
--------------------------------------------------------------------------------

                              GLOBAL OUTDOORS, INC.

                                      -2-




<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                     ASSETS

                                                       March 31     December 31
                                                    -------------  -------------
                                                         2002           2001
                                                    -------------  -------------
                                                     (unaudited)
Current assets:
      Cash and cash equivalents                     $  3,149,776   $  2,574,429
      Accounts receivable, net                         1,570,899      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                               106,299        102,914
                                                    -------------  -------------
             Total current assets                      5,805,735      5,237,545
                                                    -------------  -------------

Property, plant and equipment, net:
      Membership recreational mining properties        1,353,801      1,353,278
      Alaska recreational mining properties            1,047,103      1,098,475
      Outdoor Channel equipment and improvements         809,513        711,138
      Other equipment and leasehold improvements         582,032        598,731
                                                    -------------  -------------
         Property, plant and equipment, net            3,792,449      3,761,622
                                                    -------------  -------------

Trademark, net                                           143,140        146,785
Deferred tax assets, net                                  26,563         26,563
Deposits and other assets                                 58,045         41,629
                                                    -------------  -------------
             Totals                                 $  9,825,932   $  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

                                                                                  March 31      December 31
                                                                               -------------  -------------
                                                                                    2002           2001
                                                                               -------------  -------------
                                                                                (unaudited)
<S>                                                                            <C>            <C>
Current liabilities:
      Accounts payable and accrued expenses                                    $    757,313   $  1,102,492
      Customer deposits                                                             498,244
      Current portion of notes and capital lease obligations payable                196,416        233,282
      Current portion of stockholder loans                                          322,242        313,055
                                                                               -------------  -------------
             Total current liabilities                                            1,774,215      1,648,829

Stockholder loans, net of current portion                                           213,721        236,826
Other notes and capital lease obligations payable, net of current portion           312,490        357,665
Deferred revenues                                                                 1,360,095      1,309,560

Deferred satellite rent obligations                                                 499,205        516,260
Deferred compensation                                                               317,750        317,750
                                                                               -------------  -------------
             Total liabilities                                                    4,477,476      4,386,890
                                                                               -------------  -------------
Commitments and contingencies

Minority interest in subsidiary                                                     919,783        811,965
                                                                               -------------  -------------
Stockholders' equity:
      Convertible preferred stock, nonvoting, 10% non-cumulative, no liquidation
         preference, $.001 par value; 10,000,000 shares
         authorized; 58,725 shares issued and outstanding at December 31, 2001                          59
      Common stock, $.02 par value; 50,000,000 shares authorized;
         5,345,698 and 5,281,523 shares issued and outstanding                      106,914        105,630
      Less common stock subscriptions receivable                                   (251,050)      (221,250)
      Treasury Stock, at cost; 64,000 and 63,500 shares at
         March 31, 2002 and December 31, 2001, respectively                        (294,047)      (289,532)
      Additional paid-in capital                                                  3,532,700      3,516,125
      Retained Earnings                                                           1,334,156        904,257
                                                                               -------------  -------------
             Total stockholders' equity                                           4,428,673      4,015,289
                                                                               -------------  -------------

             Totals                                                             $ 9,825,932    $ 9,214,144
                                                                               =============  =============
</TABLE>

See Notes to Condensed Consolidated Financial Statements.

                                      -4-

<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                                   Three Months Ended March 31
                                                  ------------------------------
                                                           (unaudited)
Revenues:                                              2002            2001
                                                  -------------    -------------
       Advertising                                $  2,256,686     $  1,988,036
       Subscriber fees                               1,323,646          690,111
       Membership services                             893,841          893,502
       Trips and outings                                30,820           38,134
       Other Income                                     49,717            4,678
                                                  -------------    -------------
            Total revenues                           4,554,710        3,614,461
                                                  -------------    -------------

Expenses:
       Satellite transmission fees                     571,465          552,629
       Advertising and programming                     594,547          634,441
       Trips and outings                                20,100           19,800
       Selling, general and administrative           2,352,918        2,362,723
                                                  -------------    -------------

            Total expenses                           3,539,030        3,569,593
                                                  -------------    -------------

Income  from operations                              1,015,680           44,868

Other income (expense):
   Interest expense                                    (20,894)         (30,976)
   Interest income                                      16,199           19,347
                                                  -------------    -------------

Income before provision for
   income taxes and minority interest                1,010,985           33,239

Provision for income taxes                             395,230           14,164
                                                  -------------    -------------

Income before minority interest                        615,755           19,075

Minority interest in net income of
   consolidated subsidiary                             107,818           12,837
                                                  -------------    -------------

Net income                                        $    507,937     $      6,238
                                                  =============    =============

Earnings per common share:
  Basic                                           $       0.10     $       0.00
                                                  =============    =============
  Diluted                                         $       0.09     $       0.00
                                                  =============    =============

Weighted average number of common shares outstanding:
  Basic                                              5,236,692        5,224,093
                                                  =============    =============
  Diluted                                            5,709,950        5,693,849
                                                  =============    =============

See Notes to Condensed Consolidated Financial Statements.

                                      -5-

<PAGE>

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

<CAPTION>
                                                                  Three Months Ended March 31,
                                                                -------------------------------
                                                                     2002             2001
                                                                -------------------------------
                                                                          (unaudited)
<S>                                                             <C>              <C>
Operating activities:
    Net income                                                  $   507,937      $     6,238
    Adjustments to reconcile net income to net cash
        provided by operating activities:
        Depreciation and amortization                               174,644          116,425
        Provision for doubtful accounts                              63,000          245,000
        Deferred income taxes                                                         11,226
        Interest on stock subscription receivable                                     (4,431)

        Minority interest in net income of consolidated
           subsidiary                                               107,818           12,837
    Cash provided by changes in operating assets
        and liabilities:
        Accounts receivable                                         (52,627)        (504,226)
        Inventories                                                     169             (123)
        Other current assets                                         (3,385)         (38,771)
        Deposits and other assets                                   (16,416)          (8,964)
        Accounts payable and accrued expenses                       153,065          203,328
        Deferred revenues                                            50,535          (43,050)
        Deferred satellite rent obligations                         (17,055)         (17,055)
        Deferred compensation                                                         33,250
                                                                ------------     ------------

           Net cash provided by operating activities                967,685           11,684
                                                                ------------     ------------

Investing activities:
    Purchases of property, plant, and equipment                    (201,826)        (192,809)
                                                                ------------     ------------

Financing activities:
    Principal payments on long-term debt and capital leases         (82,041)        (285,448)
    Principal payments on stockholder loans                         (13,918)        (132,067)
    Proceeds from long-term debt                                                     350,000
    Purchase of treasury stock                                       (4,515)         (66,799)
    Dividends paid on preferred stock                               (90,038)
                                                                ------------     ------------

           Net cash used in financing activities                   (190,512)        (134,314)
                                                                ------------     ------------

Net increase (decrease) in cash and cash equivalents                575,347         (315,439)

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

Cash and cash equivalents, end of period                        $ 3,149,776      $ 1,529,010
                                                                ============     ============
</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, Alaska, Nevada, Arizona, Colorado, Georgia,
              North Carolina and South Carolina properties. The Company has
              signed 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. Effective July 23, 1996, the Company changed its name from
              Global Resources, Inc. to Global Outdoors, Inc.

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 March 31, 2002
              and its results of operations and cash flows for the three months
              ended March 31, 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 months ended
              March 31, 2002 are not necessarily indicative of the results of
              operations for the full year ending December 31, 2002.

                                      -7-

<PAGE>

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
              quarters ended March 31, 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 quarters ended March 31, 2002 and 2001:

<TABLE>
<CAPTION>
                                                                                     2002           2001
                                                                                  ------------  ------------
                       <S>                                                          <C>           <C>
                       Weighted average common shares outstanding and basic
                           earnings per common share                                5,236,692     5,224,093

                       Dilutive effect of potential common shares issuable
                           upon conversion of preferred stock                                        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                                               473,258       409,081
                                                                                  ------------  ------------
                       Diluted weighted average common shares
                           outstanding and diluted earnings per
                           common share                                             5,709,950     5,693,849
                                                                                  ============  ============
</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.

                                      -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 quarter ended March 31, 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>
Quarter ended March 31, 2002

Trips and Outings           $    30,820      $    10,720      $ 2,400,904      $    21,000      $    24,151
The Outdoor Channel           3,570,434        1,008,519        7,349,414           76,860          173,374
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales            953,456           (8,254)          75,614           76,784            4,301
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 4,554,710      $ 1,010,985      $ 9,825,932      $   174,644      $   201,826
                            ============     ============     ============     ============     ============
</TABLE>

              Information with respect to these reportable business segments for
              the quarter ended March 31, 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>
Quarter ended March 31, 2001

Trips and Outings           $    38,134      $    18,334      $ 2,567,640      $    17,322      $    56,644
The Outdoor Channel           2,636,194          133,722        3,895,342           44,172          123,140
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales            940,133         (118,817)       2,612,467           54,931           13,025
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 3,614,461      $    33,239      $ 9,075,449      $   116,425      $   192,809
                            ============     ============     ============     ============     ============
</TABLE>

                                      -10-

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

Note 5.   Stockholders' Equity

              Under the terms of the Company's 1995 Stock Option Plan during the
              quarter ended March 31, 2002, the Company granted to employees
              options to purchase 20,000 shares of common stock at a price of
              $8.30 per share, the market value of the Company's common stock at
              the grant date. The options vest over four years and expire in ten
              years.

              During the quarter ending March 31, 2002, the Company called for
              the exchange of the remaining 58,725 shares of convertible
              exchangeable preferred stock for issuance of 58,725 of common
              stock.

              In addition during 2002, the Company entered into an agreement
              with a former employee for the exercise of stock options. The
              Company loaned the former employee $29,800 for the purchase of
              8,450 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 4,224 shares of the common
              stock pledged to the Company. The note receivable has been
              included in common stock subscriptions receivable for the period
              ending March 31, 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 QUARTERS ENDED MARCH 31, 2002 AND MARCH 31, 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 March 31, 2002 were
$4,554,710, an increase of $940,249, or 26%, compared to revenues of $3,614,461
for the quarter ended March 31, 2001. This increase was the result of changes in
several items composing revenue. Advertising increased to $2,256,686 for the
quarter ended March 31, 2002 from $1,988,036 for the quarter ended March 31,
2001, primarily due to an increase in advertising revenue on The Outdoor
Channel. Subscriber fees increased to $1,323,646 for the quarter ended March 31,
2002 from $690,111 for the quarter ended March 31, 2001, primarily due to
increases in cable affiliate subscriber fees. Membership services remained level
at $893,841 for the quarter ended March 31, 2002 from $893,502 for the quarter
ended March 31, 2001.

     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 March 31, 2002 were $3,539,030
a decrease of $30,563, or 1%, compared to $3,569,593 for the quarter ended March
31, 2001, due to The Outdoor Channel's personnel expenses increasing and bad
debts along with legal expense decreasing. Selling, general and administrative
expenses remained level at $2,352,918 for the quarter ended March 31, 2002,
compared to $2,362,723 for the quarter ended March 31, 2001. Advertising and
programming decreased to $594,547 for the quarter ended March 31, 2002, compared
to $634,441 for the quarter ended March 31, 2001, due to The Outdoor Channel's
consumer and trade awareness campaigns. Satellite transmission fees remained
level at $571,465 for the quarter ended March 31, 2002 compared to $552,629 for
the quarter ended March 31, 2001, due to 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 March 31, 2002 compared to
1% for the quarter ended March 31, 2001. This was due primarily to an increase
in advertising and subscriber sales at The Outdoor Channel for the quarter ended
March 31, 2002, compared to the quarter ended March 31, 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

                                      -12-

<PAGE>

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 emerging 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.

     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 May 2002, The Outdoor Channel was
launched on approximately 3,900 cable and DBS systems with availability to
approximately 41 million households of which The Outdoor Channel has
approximately 14.5 million subscribers. From January 1, 2002 to April 30, 2002,
the Channel grew by approximately 1.2 million cable and DBS subscribers.

                                      -13-

<PAGE>

    In January 2002, The Outdoor Channel signed a national affiliation agreement
with Comcast Corporation, the third largest MSO in the United States with
approximately 8 million subscribers and renewed its affiliation agreement with
the National Cable Television Cooperative, which is an association of small to
mid-size cable operators representing approximately 13 million households.

    In January 2002, the Company retired the remaining balance due on its
Stanton, Arizona property of approximately $38,000. The Company owns all its
other properties free and clear of any mortgages, except the Junction Bar Placer
property on which it owes approximately $33,000.

    In March 2002, The Outdoor Channel entered into an agreement with Nielsen
Media Research to have ratings for Channel programming. It is anticipated that
the first ratings information will be available for public distribution in the
middle of May. The Company believes that with published ratings, it will
encourage a wider diversity of advertisers to consider advertising on The
Outdoor Channel.

    As of May 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. 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>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

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

     Exhibit
     Number
     ------

     None.

    (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:  May 3, 2002                    By:    /S/ PERRY T. MASSIE
                                            ----------------------------
                                            PERRY T. MASSIE,
                                            President and Chief
                                            Executive Officer

Dated:  May 3, 2002                    By:    /S/ MARK C. CORCORAN
                                            ----------------------------
                                            MARK C. CORCORAN,
                                            Controller
                                            (Principal Financial and Accounting
                                            Officer)

                                      -16-