<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, 2003
                                        --------------

[ ]      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, 2003
 ----------------------------                       ----------------------------
 Common Stock, $.02 par value                                 5,369,098

Transitional Small Business Disclosure Format (Check one): Yes  NoX


<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                              FINANCIAL STATEMENTS
                                 PART I - ITEM 1

--------------------------------------------------------------------------------
                      FOR THE QUARTER ENDED MARCH 31, 2003
--------------------------------------------------------------------------------

                              GLOBAL OUTDOORS, INC.

                                      -2-




<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                     ASSETS

                                                       March 31     December 31
                                                    -------------  -------------
                                                         2003           2002
                                                    -------------  -------------
                                                     (unaudited)
Current assets:
      Cash and cash equivalents                     $  3,925,122   $  3,247,740
      Accounts receivable, net                         3,152,126      2,473.486
      Inventories                                         86,000         86,337
      Deferred tax assets, net                           318,708        318,708
      Investment in available-for-sale securities        204,750         79,659
      Prepaid income taxes                                               86,889
      Receivable from stockholders                                       55,007
      Other current assets                               100,113        193,183
                                                    -------------  -------------
             Total current assets                      7,786,819      6,541,009
                                                    -------------  -------------

Property, plant and equipment, net:
      Membership recreational mining properties        1,317,010      1,249,650
      Alaska recreational mining properties            1,150,918      1,147,317
      Outdoor Channel equipment and improvements       1,791,741      1,308,512
      Other equipment and leasehold improvements         530,632        521,183
                                                    -------------  -------------
         Property, plant and equipment, net            4,790,301      4,226,662
                                                    -------------  -------------

Trademark, net                                           128,560        132,205
Deferred tax assets, net                                 733,829        733,829
Deposits and other assets                                 41,385        196,298
                                                    -------------  -------------
             Totals                                 $ 13,480,894   $ 11,830,003
                                                    =============  =============

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
                                                                               -------------  -------------
                                                                                    2003           2002
                                                                               -------------  -------------
                                                                                (unaudited)
<S>                                                                            <C>            <C>
Current liabilities:
      Accounts payable and accrued expenses                                    $  1,826,492   $  1,337,428
      Customer deposits                                                             121,709
      Current portion of notes and capital lease obligations payable                138,473        154,617
      Current portion of stockholder loans                                                          14,606
      Current portion of deferred revenues                                                         229,767
                                                                               -------------  -------------
             Total current liabilities                                            2,086,674      1,736,418

Stockholder loans, net of current portion                                           585,054        577,950
Other notes and capital lease obligations payable, net of current portion           220,677        244,847
Deferred revenues, net of current portion                                         1,123,461      1,080,353
Deferred satellite rent obligations                                                 430,985        448,040
Deferred compensation                                                               317,750        317,750
                                                                               -------------  -------------
             Total liabilities                                                    4,764,601      4,405,358
                                                                               -------------  -------------

Minority interest in subsidiary                                                   1,463,438      1,262,689
                                                                               -------------  -------------
Commitments and contingencies
Stockholders' equity:
      Common stock, $.02 par value; 50,000,000 shares authorized;
         5,369,098 shares issued and outstanding                                    107,382        107,382
      Common stock subscriptions receivable                                         (92,300)      (262,050)
      Treasury stock, at cost; 76,200 shares                                       (399,981)      (399,981)
      Additional paid-in capital                                                  3,603,833      3,603,833
      Accumulated other comprehensive income                                          3,798          3,524
      Retained earnings                                                           4,030,123      3,109,248
                                                                               -------------  -------------
             Total stockholders' equity                                           7,252,855      6,161,956
                                                                               -------------  -------------

             Totals                                                            $ 13,480,894   $ 11,830,003
                                                                               =============  =============
</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:                                              2003            2002
                                                  -------------    -------------
       Advertising                                $  3,782,187     $  2,256,686
       Subscriber fees                               2,501,279        1,323,646
       Membership services                           1,080,317          893,841
       Trips and outings                                20,723           30,820
       Other Income                                     59,185           49,717
                                                  -------------    -------------
            Total revenues                           7,443,691        4,554,710
                                                  -------------    -------------

Expenses:
       Satellite transmission fees                     597,189          571,465
       Advertising and programming                   1,033,049          594,547
       Trips and outings                                24,028           20,100
       Selling, general and administrative           3,934,292        2,352,918
                                                  -------------    -------------

            Total expenses                           5,588,558        3,539,030
                                                  -------------    -------------

Income from operations                               1,855,133        1,015,680

Other income (expense):
   Interest expense                                    (17,772)         (20,894)
   Interest income                                      17,888           16,199
                                                  -------------    -------------

Income before provision for
   income taxes and minority interest                1,855,249        1,010,985

Provision for income taxes                             733,625          395,230
                                                  -------------    -------------

Income before minority interest                      1,121,624          615,755

Minority interest in net income of
   consolidated subsidiary                             200,749          107,818
                                                  -------------    -------------

Net income                                             920,875          507,937

Preferred stock dividends                                               (90,038)
                                                  -------------    -------------
Net income applicable to common stock             $    920,875          417,899
                                                  =============    =============

Earnings per common share:
  Basic                                           $       0.17     $       0.08
                                                  =============    =============
  Diluted                                         $       0.16     $       0.07
                                                  =============    =============

Weighted average number of common shares outstanding:
  Basic                                              5,304,640        5,236,692
                                                  =============    =============
  Diluted                                            5,872,359        5,844,325
                                                  =============    =============

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,
                                                                -------------------------------
                                                                     2003             2002
                                                                -------------------------------
                                                                          (unaudited)
<S>                                                             <C>              <C>
Operating activities:
    Net income                                                  $   920,875      $   507,937
    Adjustments to reconcile net income to net cash
        provided by operating activities:
        Depreciation and amortization                               201,645          174,644
        Provision for doubtful accounts                              64,131           63,000
        Payment of bonuses through cancellation of receivable
        from stockholders                                           188,757
        Realized gain on sale of available-for-sale securities      (12,900)
        Minority interest in net income of consolidated
           subsidiary                                               200,749          107,818
    Cash provided by changes in operating assets
        and liabilities:
        Accounts receivable                                        (742,771)         (52,627)
        Inventories                                                     337              169
        Other current assets                                        179,959           (3,385)
        Deposits and other assets                                   154,913          (16,416)
        Accounts payable and accrued expenses                       617,877          153,065
        Deferred revenues                                          (186,659)          50,535
        Deferred satellite rent obligations                         (17,055)         (17,055)
                                                                ------------     ------------
           Net cash provided by operating activities              1,569,858          967,685
                                                                ------------     ------------

Investing activities:
    Purchases of property, plant, and equipment                    (761,639)        (201,826)
    Purchases of available for sale securities                     (147,896)
    Proceeds from sale of available-for-sale securities              35,979
    Proceeds from notes receivable                                   36,000
                                                                ------------     ------------
           Net cash used in investing activities                   (837,556)        (201,826)
                                                                ------------     ------------

Financing activities:
    Principal payments on long-term debt and capital leases         (40,314)         (82,041)
    Net payments of stockholder loans                               (14,606)         (13,918)
    Purchase of treasury stock                                                        (4,515)
    Dividends paid on preferred stock                                                (90,038)
                                                                ------------     ------------

           Net cash used in financing activities                    (54,920)        (190,512)
                                                                ------------     ------------

Net increase in cash and cash equivalents                           677,382          575,347

Cash and cash equivalents, beginning of period                    3,247,740        2,574,429
                                                                ------------     ------------

Cash and cash equivalents, end of period                        $ 3,925,122      $ 3,149,776
                                                                ============     ============

Supplemental disclosure of cash flow data:
     Income taxes paid                                                           $    50,000
                                                                                 ============
</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 March 31, 2003
              and its results of operations and cash flows for the three months
              ended March 31, 2003 and 2002. Information included in the
              condensed consolidated balance sheet as of December 31, 2002 has
              been derived from, and certain terms used herein are defined in,
              the audited financial statements of the Company as of December 31,
              2002 and for the years ended December 31, 2002 and 2001 (the
              "Audited Financial Statements") included in the Company's Annual
              Report on Form 10-KSB (the "10-KSB") for the year ended December
              31, 2002 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, 2003 are not necessarily indicative of the results of
              operations for the full year ending December 31, 2003.

                                      -7-




<PAGE>

Note 3.  Earnings per share

              The Company has presented "basic" earnings per common share in the
              accompanying condensed 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 were issued during the period.

              The computations of diluted earnings per common share for the
              quarters ended March 31, 2003 and 2002 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 assumed
              payment of deferred compensation payable in common stock.

              The following table presents diluted earnings for the three
              months ended March 31, 2003 and 2002:

<TABLE>
<CAPTION>
                                                                                 Three Months Ended March 31
                                                                               ------------------------------
                                                                                        (unaudited)
                                                                                     2003            2002
                                                                               -------------    -------------

                       <S>                                                          <C>           <C>
                       Weighted average common shares outstanding                   5,304,640     5,236,692

                       Dilutive effect of potential common shares issuable for
                           accrued deferred compensation                              134,375       134,375

                       Dilutive effect of potential common shares issuable upon
                           exercise of stock options and warrants, as adjusted
                           for the application of the treasury
                           stock method                                               433,344       473,258
                                                                                  ------------  ------------
                       Diluted weighted average common shares outstanding           5,872,359     5,844,325
                                                                                  ============  ============
</TABLE>

              Basic and diluted earnings per common share for the three months
              ended March 31, 2002 were originally reported as $0.10 and $0.09
              per share, respectively, and have been retroactively restated to
              reflect the effects on income applicable to common stock of the
              preferred stock dividends paid during that period.

                                      -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
              chief operating decision makers. 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, 2003 is as follows:

<TABLE>
<CAPTION>
                                             Income (Loss)                     Depreciation     Additions to
                                                Before           Total             and         Property, Plant
                              Revenues       Income Taxes       Assets         Amortization    and Equipment
                            ------------     ------------     ------------     ------------     ------------
<S>                         <C>              <C>              <C>              <C>              <C>
Three months ended
March 31, 2003

Trips and Outings           $    20,723      $    (3,305)     $ 2,467,928      $    21,000      $    94,959
The Outdoor Channel           6,246,444        1,953,620        9,134,579          136,860          618,230
Membership and
   merchandise sales          1,176,524          (95,066)       1,878,387           43,785           48,450
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 7,443,691      $ 1,855,249      $13,480,894      $   201,645      $   761,639
                            ============     ============     ============     ============     ============
</TABLE>

              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 Equipment
                            ------------     ------------     ------------     ------------     ------------
<S>                         <C>              <C>              <C>              <C>              <C>
Three months 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 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>

                                      -10-




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

Note 5.   Stock-Based Compensation

              The Company continues to measure compensation cost related to
              stock options issued to employees using the intrinsic value method
              of accounting prescribed by Accounting Principles Board Opinion
              No. 25 ("APB 25"), Accounting for Stock Issued To Employees. The
              Company has adopted the disclosure-only provisions of Statement of
              Financial Accounting Standards No. 123 ("SFAS 123"), Accounting
              For Stock-Based Compensation. Accordingly, no earned or unearned
              compensation cost was recognized in the accompanying condensed
              consolidated financial statements for the stock options granted by
              either the Company or the Outdoor Channel to their employees since
              all of those options have been granted at exercise prices that
              equaled or exceeded the market value at the date of grant. The
              Company's historical net income and earnings per common share and
              pro forma net income and earnings per share assuming compensation
              cost had been determined in 2003 and 2002 based on the fair value
              at the grant date for all awards by the Company and the Outdoor
              Channel consistent with the provisions of SFAS 123 are set forth
              below:

                                                    Three Months Ended March 31,
                                                         2003           2002
                                                         ----           ----

              Net income - as reported              $   920,875    $   417,899

              Deduct total stock-based employee
              compensation expense determined under
              fair value based method for all awards     48,692         37,404
                                                    ------------   ------------

              Net income - pro forma                $   872,183    $   380,495
                                                    ============   ============

              Basic income per share:
                   As reported                      $      0.17    $      0.08
                   Per share                        $      0.16    $      0.07

              Diluted income per share:
                   As reported                      $      0.16    $      0.07
                   Pro forma                        $      0.15    $      0.07


Note 6.   Related Party Transactions

              During the three months ended March 31, 2003, the Company paid
              bonuses to certain stockholders who are also employees totaling
              $188,757 by canceling subscriptions receivable for common stock of
              $133,750 and accrued interest on the receivables of $55,007.

                                      -11-


<PAGE>

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

    The following information includes forward-looking statements. Actual
results could differ materially. The statements contained in this report that
are not historical are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended (the "Securities Act"),
and Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), including statements, without limitation, regarding our
expectations, beliefs, intentions or strategies regarding the future. We intend
that such forward-looking statements be subject to the safe-harbor provided by
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements relate to, among other things: (1) expected revenue and earnings
growth; (2) estimates regarding the size of target markets; (3) Nielsen Media
Research estimates regarding total households and cable and satellite homes
subscribing to The Outdoor Channel. These statements are qualified by important
factors that could cause our actual results to differ materially from those
reflected by the forward-looking statements. Such factors include but are not
limited to: (1) market acceptance of our programming and services; (2) our
ability to establish and expand direct and indirect distribution channels; and
(3) competition from a better financed or lower cost entrant into The Outdoor
Channel's niche. This report should be read in conjunction with the Company's
report on Form 10-KSB for the year ended December 31, 2002.

RECENT ACCOUNTING DEVELOPMENTS

    In June 2002, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Accounting Standards No. 146, Accounting for Costs
Associated with Exit or Disposal Activities ("SFAS 146").  The adoption
of SFAS 146 effective as of January 1, 2003 did not have a material
impact on the Company's financial position or results of operations.

    In December 2002, the FASB issued Statement of Financial Accounting
Standards No. 148, Accounting for Stock-Based Compensation-Transition and
Disclosure ("SFAS 148"), which amended SFAS No. 123, "Accounting for Stock-
Based Compensation" to provide alternative methods of transition for a voluntary
change to the fair value based method of accounting for stock-based
compensation. In addition, this statement amended the disclosure requirements of
SFAS No. 123 to require prominent disclosures in both annual and interim
financial statements about the method of accounting for stock-based employee
compensation and the effect of the chosen method on reporting results. The
provisions of SFAS 148 are effective for annual periods ending after December
15, 2002. The Company has elected to continue to apply the intrinsic value
method in accounting for its stock-based employee compensation arrangement as
defined by Accounting Principles Board Opinion No. 25, Accounting for Stock
Issued to Employees, and has made the applicable disclosures in Note 5 to comply
with SFAS 148.

COMPARISON OF QUARTERS ENDED MARCH 31, 2003 AND MARCH 31, 2002

    REVENUES. The Company's revenues include revenues from advertising fees,
subscriber fees, GPAA and Lost Dutchman's membership sales, and trips and
outings sales. Subscriber fees are derived solely from The Outdoor Channel.
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, 2003 were $7,443,691, an increase of
$2,888,981, or 63%, compared to revenues of $4,554,710 for the quarter ended
March 31, 2002. This increase was the result of changes in several items
composing revenue. Advertising increased to $3,782,187 for the quarter ended
March 31, 2003 from $2,256,686 for the quarter ended March 31, 2002, primarily
due to an increase in the various components of advertising on The Outdoor
Channel. Subscriber fees increased to $2,501,279 for the quarter ended March 31,
2003 from $1,323,646 for the quarter ended March 31, 2002, primarily due to
increases in cable and direct broadcast satellite ("DBS") affiliate subscriber
fees and the fall 2002 launch of The Outdoor Channel on DirecTV. Membership
services increased to $1,080,317 for the quarter ended March 31, 2003 from
$893,841 for the quarter ended March 31, 2002, primarily due to increases in
membership sales.

                                      -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 quarter ended March 31, 2003 were $5,588,558
an increase of $2,049,528, or 58%, compared to $3,539,030 for the quarter ended
March 31, 2002. This increase in expenses was due to several factors. Selling,
general and administrative expenses increased to $3,934,292 for the quarter
ended March 31, 2003, compared to $2,352,918 for the quarter ended March 31,
2002, due to The Outdoor Channel's personnel expenses, depreciation, insurance,
meetings, and professional fees increasing along with GPAA's personnel expenses
and printing costs increasing. Advertising and programming increased to
$1,033,049 for the quarter ended March 31, 2003, compared to $594,547 for the
quarter ended March 31, 2002, due to increase spending for The Outdoor Channel's
consumer and trade awareness campaigns. Satellite transmission fees remained
level at $597,189 for the quarter ended March 31, 2003 compared to $571,465 for
the quarter ended March 31, 2002, 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 25% for the quarter ended March 31, 2003 compared to
22% for the quarter ended March 31, 2002. This was due to revenues increasing at
a higher rate than expenses. For the business segment, The Outdoor Channel,
income before provision for income taxes and minority interest as a percentage
of revenue increased to 31% for the quarter ended March 31, 2003, compared to
28% for the quarter ended March 31, 2002. This was due primarily to an increase
in advertising and subscriber sales at The Outdoor Channel for the quarter ended
March 31, 2003, compared to the quarter ended March 31, 2002. For the business
segment, membership sales, income before income tax provision and minority
interest as a percentage of revenues decreased to (8%) for the quarter ended
March 31, 2003, compared to (1%) for the quarter ended March 31, 2002, primarily
due to increased payroll expenses. For the business segment, trips & outings,
income before provision for income taxes and minority interest as a percentage
of revenues decreased to (16%) for the quarter ended March 31, 2003, compared to
35% for the quarter ended March 31, 2002, due to sales decreasing.

    NET INTEREST (EXPENSE) INCOME. Net interest (expense) income decreased to
($116) for the quarter ended March 31, 2003, compared to $4,695 for the quarter
ended March 31, 2002. This was primarily due to interest rates being lower on
the Company's cash accounts for the quarter ended March 31, 2003, compared to
the quarter ended March 31, 2002. The Company had less debt for the quarter
ended March 31, 2003, than for the quarter ended March 31, 2002, but the
interest rates on the remaining loans were not lower and therefore did not
counterbalance the decrease in interest income.

    MINORITY INTEREST IN NET INCOME OF CONSOLIDATED SUBSIDIARY. Minority
interest for the quarter ended March 31, 2003 was $200,749 compared to $107,818
for the quarter ended March 31, 2002. This was due to the increased
profitability of The Outdoor Channel.

    INCOME TAXES. The income tax provision for the quarter ended March 31, 2003
was $733,625 as compared to $395,230 for the quarter ended March 31, 2002. This
was due to the Company earning more taxable income in 2003 as compared to 2002.

    NET INCOME. Net income for the quarter ended March 31, 2003 was $920,875
compared to $507,937 for the quarter ended March 31, 2002. This was due to the
increased profitability of The Outdoor Channel.


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

                                      -13-

<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 7,000 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 33,000 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.

    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 and direct broadcast satellite ("DBS") industries. 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, 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 increase penetration on existing affiliates and to sign carriage
agreements with the few remaining multi cable system operators ("MSOs") who do
not carry us. 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 2003, The Outdoor Channel was launched on
approximately 5,000 cable and DBS systems with availability to approximately 57
million households. According to Nielsen Media Research ("Nielsen") as of May
2003, The Outdoor Channel has approximately 22.7 million subscribers. From
January 1, 2003 to April 30, 2003, the Channel grew by approximately 2.2 million
cable and DBS subscribers according to Nielsen estimates.

                                      -14-

<PAGE>

    As of March 2003, the Company is generating sufficient cash flow from
operations to meet its short-term cash flow requirements. Management believes
that the Company's existing cash resources and anticipated cash flows from
operations will be sufficient to fund the Company's operations at current
levels and anticipated increased levels for the next twelve months. To the
extent that such amounts are 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 is planning modest improvements to some of its
other properties.

    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.

ITEM 3.  CONTROLS AND PROCEDURES

    (a) Evaluation of disclosure controls and procedures. We maintain disclosure
controls and procedures designed to provide reasonable assurance that
information required to be disclosed in the reports we file with the SEC is
recorded, processed, summarized and reported within the time periods specified
in the rules of the SEC. Within 90 days prior to the filing of this Quarterly
Report on Form 10-QSB, we carried out an evaluation, under the supervision and
the participation of our management, including our Chief Executive Officer and
Chief Financial Officer, of the design and operations of these disclosure
controls and procedures pursuant to Exchange Act Rule 13a-14. Based upon that
evaluation, our Chief Executive Officer and Chief Financial Officer concluded
that our disclosure controls and procedures are effective in timely alerting
them to material information relating to the Company (including our consolidated
subsidiaries) required to be included in our periodic SEC filings.

    (b) Changes in internal controls. There were no significant changes in
internal controls or other factors that could significantly affect our internal
controls subsequent to the date of our evaluation.

PART II.  OTHER INFORMATION

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 9, 2003                         By: /S/ PERRY T. MASSIE
                                            ----------------------------
                                            PERRY T. MASSIE,
                                            President and Chief
                                            Executive Officer

Dated:  May 9, 2003                         By: /S/ MARK C. CORCORAN
                                            ----------------------------
                                            MARK C. CORCORAN,
                                            Controller
                                            (Chief Accounting Officer)




                                      -16-
<PAGE>

                                  CERTIFICATION

I, Perry T. Massie, certify that:

1.       I have reviewed this quarterly report on Form 10-QSB of Global
Outdoors, Inc.;

2.       Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
quarterly report;

3.       Based on my knowledge, the financial statements and other financial
information included in this quarterly report fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.       The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         (a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;

         (b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

         (c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed, based
on our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

         (a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data, and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6.       The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 9, 2003        /s/ Perry T. Massie
                         -----------------------------------------------
                         PERRY T. MASSIE, Chief Executive Officer


                                      -17-
<PAGE>

                                 CERTIFICATION

I, Richard K. Dickson II, certify that:

1.       I have reviewed this quarterly report on Form 10-QSB of Global
Outdoors, Inc.;

2.       Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this
quarterly report;

3.       Based on my knowledge, the financial statements and other financial
information included in this quarterly report fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.       The registrant's other certifying officers and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exhchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

         (a) designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;

         (b) evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
quarterly report (the "Evaluation Date"); and

         (c) presented in this quarterly report our conclusions about the
effectiveness of the disclosure controls and procedures based on our evaluation
as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed, based
on our most recent evaluation, to the registrant's auditors and the audit
committee of registrant's board of directors (or persons performing the
equivalent function):

         (a) all significant deficiencies in the design or operation of internal
controls which could adversely affect the registrant's ability to record,
process, summarize and report financial data, and have identified for the
registrant's auditors any material weaknesses in internal controls; and

         (b) any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and

6.       The registrant's other certifying officers and I have indicated in this
quarterly report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 9, 2003        /s/ Richard K. Dickson II
                         -------------------------------------------------------
                         RICHARD K. DICKSON II, Chief Financial Officer
                         and Chief Operating Officer


                                      -18-