<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, 2000
                                        --------------

[ ]      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 May 12, 2000
 ----------------------------                       ----------------------------
 Common Stock, $.02 par value                               5,266,073

<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB

                              FINANCIAL STATEMENTS
                                 PART I - ITEM 1

--------------------------------------------------------------------------------
                      FOR THE QUARTER ENDED MARCH 31, 2000
--------------------------------------------------------------------------------


                              GLOBAL OUTDOORS, INC.

                                      -2-
<PAGE>

                     GLOBAL OUTDOORS, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS


                                     ASSETS

                                                       March 31     December 31
                                                    -------------  -------------
                                                         2000          1999
                                                    -------------  -------------
                                                     (unaudited)
Current assets:
      Cash and cash equivalents                     $  1,014,198   $    750,351
      Accounts receivables, net of allowance for
        doubtful accounts of $57,766                   1,265,745        965,371
      Inventories                                         53,242         54,810
      Deferred tax assets, net                            86,550         86,550
      Receivable from stockholders                        19,912         17,700
      Other current assets                                70,083         15,035
                                                    -------------  -------------
             Total current assets                      2,509,730      1,889,817
                                                    -------------  -------------

Property, plant and equipment, net:
      Membership recreational mining properties        1,362,257      1,352,373
      Alaska recreational mining properties            1,315,966      1,338,988
      Outdoor Channel equipment and improvements         593,024        505,063
      Other equipment and leasehold improvements         333,594        328,226
                                                    -------------  -------------
         Property, plant and equipment, net            3,604,841      3,524,650
                                                    -------------  -------------

Trademark, net of accumulated amortization of
      $46,422 and $42,777                                172,301        175,946
Deferred tax assets, net                               1,150,000      1,000,000
Deposits and other assets                                 84,572         89,062
                                                    -------------  -------------

             Totals                                 $  7,521,444   $  6,679,475
                                                    =============  =============

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
                                                                               -------------  -------------
                                                                                    2000           1999
                                                                               -------------  -------------
                                                                                (unaudited)
<S>                                                                            <C>            <C>
Current liabilities:
      Accounts payable and accrued expenses                                    $  1,041,262   $    711,646
      Current portion of notes and capital lease obligations payable                428,862        528,851
      Current portion of stockholder loans                                            1,936          1,936
                                                                               -------------  -------------
             Total current liabilities                                            1,472,060      1,242,433

Stockholder loans, net of current portion                                           435,232        435,700
Other notes and capital lease obligations payable, net of current portion           629,933        661,237
Deferred revenues                                                                 1,795,104      1,818,468
Deferred satellite rent obligations                                                 634,645        624,700
Deferred compensation                                                               305,250        300,751
                                                                               -------------  -------------
             Total liabilities                                                    5,272,224      5,083,289
                                                                               -------------  -------------
Commitments and contingencies

Minority interest in subsidiary                                                     498,374        390,526
                                                                               -------------  -------------
Stockholders' equity:
      Convertible preferred stock, nonvoting, 10% noncumulative, no
         liquidation preference, $.001 par value; 10,000,000 shares
         authorized; 60,675 shares issued and outstanding                                61             61
      Common stock, $.02 par value; 50,000,000 shares authorized;
         5,266,073 shares issued and outstanding                                    105,283        105,283
      Less common stock subscriptions receivable                                   (221,250)      (221,250)
      Additional paid-in capital                                                  3,336,233      3,336,233
      Accumulated deficit                                                        (1,469,481)    (2,014,667)
                                                                               -------------  -------------
             Total stockholders' equity                                           1,750,846      1,205,660
                                                                               -------------  -------------

             Totals                                                               7,521,444      6,679,475
                                                                               =============  =============
</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:                                              2000            1999
                                                  -------------    -------------
       Advertising                                $  1,545,304         $761,676
       Subscriber fees                                 607,394          142,567
       Membership services                             758,963          846,534
       Trips and outings
                                                  -------------    -------------
            Total revenues                           2,911,661        1,750,777
                                                  -------------    -------------

Expenses:
       Satellite transmission fees                     526,088          518,685
       Advertising and programming                     212,804           48,827
       Trips and outings
       Selling, general and administrative           1,652,399        1,170,879
                                                  -------------    -------------

            Total expenses                           2,391,291        1,738,391
                                                  -------------    -------------

Income  from operations                                520,370           12,386

Other income (expense):
   Gain on sale of common stock of subsidiary                           408,859
   Interest expense                                    (26,440)         (53,968)
   Interest income                                       9,104            5,505
                                                  -------------    -------------

Income before credit for income taxes
   and minority interest                               503,034          372,782

Credit for Federal income taxes                        150,000
                                                  -------------    -------------

Income before minority interest                        653,034          372,782

Minority interest in net (income) loss of
   consolidated subsidiary                            (107,848)          11,670
                                                  -------------    -------------

Net income                                             545,186          384,452

Accumulated deficit, beginning of period            (2,014,667)      (3,921,913)
                                                  -------------    -------------

Accumulated deficit, end of period                $ (1,469,481)    $ (3,537,461)
                                                  =============    =============

Earnings per common share:
  Basic                                           $       0.10     $       0.07
                                                  =============    =============
  Diluted                                         $       0.10     $       0.07
                                                  =============    =============

Weighted average number of common
 shares outstanding:
  Basic                                              5,260,612        5,253,937
                                                  =============    =============
  Diluted                                            5,457,230        5,253,937
                                                  =============    =============

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,
                                                                -------------------------------
                                                                     2000             1999
                                                                -------------------------------
                                                                          (unaudited)
<S>                                                             <C>              <C>
Operating activities:
    Net income                                                  $   545,186      $   384,452
    Adjustments to reconcile net income to net cash
        provided by (used in) operating activities:
        Depreciation and amortization                                60,546           61,744
        Provision for doubtful accounts                             (26,898)
        Deferred income taxes                                      (150,000)
        Interest on stock subscription receivable                    (2,212)          (2,212)
        Gains on sale of subsidiary stock to the public:
            Shares sold by the subsidiary                                           (261,961)
            Shares sold by the Company                                              (146,898)
        Minority interest in net income (loss) of consolidated
           subsidiary                                               107,848          (11,670)
    Cash supplied (used) by changes in operating assets
        and liabilities:
        Accounts receivable                                        (273,476)          23,122
        Inventories                                                   1,568            6,152
        Other current assets                                        (55,048)         (14,393)
        Income taxes receivable                                                        1,549
        Deposits and other assets                                     4,490           14,500
        Accounts payable and accrued expenses                       329,616           91,518
        Deferred revenues                                           (23,364)          26,810
        Deferred satellite rent obligations                           9,945           99,945
        Deferred compensation                                         4,499            5,000
                                                                ------------     ------------

           Net cash provided by (used in) operating activities      532,700          277,658
                                                                ------------     ------------

Investing activities:
    Purchases of property, plant, and equipment                    (137,092)        (143,101)
                                                                ------------     ------------

Financing activities:
    Principal payments on long-term debt and capital leases        (131,293)        (111,674)
    Principal payments on stockholder loans                            (468)         (26,558)
    Net proceeds from sale of subsidiary stock to the public                         617,502
                                                                ------------     ------------

           Net cash provided by financing activities               (131,761)         479,270
                                                                ------------     ------------

Net increase in cash and cash equivalents                           263,847          613,827

Cash and cash equivalents, beginning of period                      750,351          326,225
                                                                ------------     ------------

Cash and cash equivalents, end of period                        $ 1,014,198      $   940,052
                                                                ============     ============
</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, 2000
              and its results of operations and cash flows for the three months
              ended March 31, 2000 and 1999. Information included in the
              condensed consolidated balance sheet as of December 31, 1999 has
              been derived from, and certain terms used herein are defined in,
              the audited financial statements of the Company as of December 31,
              1999 and for the years ended December 31, 1999 and 1998 (the
              "Audited Financial Statements") included in the Company's Annual
              Report on Form 10-KSB (the "10-KSB") for the year ended December
              31, 1999 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 generally accepted accounting principles 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, 2000 are not necessarily indicative of the results of
              operations for the full year ending December 31, 2000.


Note 3.  Stockholders' Equity

              On September 12, 1994, the company effected a 2 for 1 forward
              split of its common stock. On March 4, 1992, the company effected
              a 1 for 20 reverse split of its common stock. On May 1, 1989, the
              Company distributed a 10% common stock dividend. Share amounts
              herein reflect the foregoing activity.

                                      -7-
<PAGE>

Note 4.  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 computation of diluted earnings per common share for the
              quarter ended March 31, 2000 takes 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 reconciles the calculation of basic earnings
              per share to diluted earnings per share in the quarter ended March
              31, 2000:

<TABLE>
<CAPTION>
                                                                                        March 31, 2000
                                                                                  --------------------------
                                                                                                  Earnings
                                                                                                    Per
                                                                                     Shares        Share
                                                                                  ------------  ------------
                       <S>                                                          <C>         <C>
                       Weighted average common shares outstanding and basic
                           earnings per common share                                5,260,612   $       .10
                                                                                                ============
                       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                                               135,943
                                                                                  ------------
                       Diluted weighted average common shares
                           outstanding and diluted earnings per
                           common share                                             5,457,230   $       .10
                                                                                  ============  ============
</TABLE>

                                      -8-
<PAGE>

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


Note 5.  Income taxes

              The credit for income taxes of $150,000 included in the
              accompanying condensed consolidated statement of income for the
              three months ended March 31, 2000 was comprised of a deferred
              credit for Federal income taxes. The Company had no provision or
              credit for income taxes for the quarter ended March 31, 1999.

              During the quarter ended March 31, 2000, the Company was able to
              increase revenues substantially, generate pre-tax income for
              financial statement and tax reporting purposes and utilize a
              portion of its net operating loss carryforwards as shown above. In
              addition, management believes that it is more likely than not that
              the Company will be able to generate sufficient future taxable
              income to enable it to utilize all but approximately $421,000 of
              the remaining net operating loss carryforwards available as of
              March 31, 2000. Accordingly, the Company reduced its valuation
              allowance by $150,000 and recognized a credit for Federal income
              taxes in the quarter ended March 31, 2000.

              The credit for income taxes reflected in the accompanying
              condensed consolidated statement of income for the quarter ended
              March 31, 2000 is different than it would be computed based on the
              applicable statutory Federal income tax rate of 34% primarily as a
              result of the changes in the valuation allowance as shown below:


                                                                      March 31,
                                                                        2000
                                                                    ------------
                       Federal income tax provisions
                           at statutory income tax rate             $   171,032

                       Effect of utilization of net operating
                           loss carryforwards                          (171,032)

                       Effect of reduction in valuation
                           allowance for recognition of future
                           utilization of net operating loss
                           carryforwards                               (150,000)
                                                                    ------------

                       Credit for income taxes                      $  (150,000)
                                                                    ============


Note 6.  Segment information

              During 1998, the Company adopted 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 6.  Segment information (concluded)

              Information with respect to these reportable business segments for
              the quarter ended March 31, 2000 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, 2000

Trips and Outings                                             $ 1,315,966      $    19,272
The Outdoor Channel         $ 2,091,904      $   624,235        2,861,486           33,444      $   119,545
Membership sales
   of recreational
   prospecting and
   mineral rights and
   merchandise sales            819,757         (121,201)       3,343,992            7,830           17,547
                            ------------     ------------     ------------     ------------     ------------

      Totals                $ 2,911,661      $   503,034      $ 7,521,444      $    60,546      $   137,092
                            ============     ============     ============     ============     ============
</TABLE>

                                      -10-
<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, 1999.

COMPARISON OF QUARTERS ENDED MARCH 31, 2000 AND MARCH 31, 1999

     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, 2000 were
$2,911,661, an increase of $1,160,884, or 66%, compared to revenues of
$1,750,777 for the quarter ended March 31, 1999. This increase was the result of
changes in several items composing revenue. Advertising doubled to $1,545,304
for the quarter ended March 31, 2000 from $761,676 for the quarter ended March
31, 1999, primarily due to an increase in advertising revenue on The Outdoor
Channel. Subscriber fees increased dramatically to $607,394 for the quarter
ended March 31, 2000 from $142,567 for the quarter ended March 31, 1999,
primarily due to carriage of The Outdoor Channel on the Dish Network. Membership
services decreased to $758,963 for the quarter ended March 31, 2000 from
$846,534 for the quarter ended March 31, 1999, due principally to the cumulative
effect of the Company devoting its primary resources to development of The
Outdoor Channel.

     EXPENSES. The Company's expenses consist primarily of the cost of satellite
transponder and uplink facilities, programming, advertising and promotion, trips
and outings expenses, sales and administrative salaries, office expenses and
general overhead. Expenses for the quarter ended March 31, 2000 were $2,391,291,
an increase of $652,900, or 38%, compared to $1,738,391 for the quarter ended
March 31, 1999. This increase was primarily the result of an increase in
selling, general and administrative expenses which increased significantly to
$1,652,399 for the quarter ended March 31, 2000, compared to $1,170,879 for the
quarter ended March 31, 1999. This increase was due primarily to growth at The
Outdoor Channel. Advertising and programming increased to $212,804 for the
quarter ended March 31, 2000, compared to $48,827 for the quarter ended March
31, 1999, due to The Outdoor Channel's consumer and trade awareness campaigns.
Satellite transmission fees remained near the same level at $526,088 for the
quarter ended March 31, 2000 compared to $518,685 for the quarter ended March
31, 1999, due to satellite transponder expenses plateauing.

     INCOME BEFORE CREDIT FOR INCOME TAXES AND MINORITY INTEREST. Income before
credit for income taxes and minority interest was lower as a percentage of
revenues at 17% for the quarter ended March 31, 2000 compared to 21% for the
quarter ended March 31, 1999. This was due primarily to the Company having
income from operations of $520,370 and no Gain on sale of common stock for the
quarter end March 31, 2000, compared to income from operations of $12,386 and
Gain on sale of common stock of $408,859 for the quarter ended March 31, 1999.
There was no Gain on sale of common stock of subsidiary for the quarter ended
March 31, 2000, due to The Outdoor Channel closing its private placement on
March 5, 1999.

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

                                      -11-
<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 5,000 members and properties in
California, Alaska, Oregon, Nevada, Arizona, Colorado, Georgia, South Carolina
and North Carolina. GPAA is the largest recreational gold prospecting club in
the world with approximately 35,000 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 2300 acre camp, located 11 miles west of Nome,
Alaska.

     The Company has been selling its GPAA club memberships since its
incorporation in 1984. From 1968 to 1984, GPAA memberships were sold by the
proprietorship owned by the Company's founders. 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 the second quarter of 1999.
Subsequently, the Company has directed more resources to other Company
divisions. For example, in September 1999, the Company commenced airing
"Prospecting America" on The Outdoor Channel. Prospecting America, hosted by
Perry Massie, is a new series produced by the Company's television production
unit headed by Rick Griffith.

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

     In 1998, The Outdoor Channel signed an affiliation agreement with EchoStar
Satellite Corporation ("EchoStar"), one of the largest direct broadcast
satellite companies ("DBS") in the U.S. with approximately three million
subscribers. The Outdoor Channel's launch on EchoStar's Dish Network occurred in
December 1998. Commencing February 1, 1999, The Outdoor Channel has been
available on the Dish Network on an al a carte basis (i.e stand alone) for a fee
of $1.99 per month. Through April 21, 2000, there were approximately 264,000 a
la carte subscribers to The Outdoor Channel on the Dish Network. The Channel
receives a significant portion of the monthly a la carte subscriber fees. In
April 2000, The Outdoor Channel was also launched on the Dish Network's
America's Top 150 package. As of April 21, 2000 there were approximately 67,000
subscribers to the Top 150 package.

     A primary objective of the Company is for The Outdoor Channel to obtain
distribution. To accomplish this objective the Channel seeks to sign national
carriage agreements with MSOs and thereafter carriage agreements with the MSOs'
individual cable affiliates. Efforts to obtain distribution for The Outdoor
Channel to date have largely been focused on areas where there are the greatest
number of outdoor enthusiasts, mainly in rural areas of the United States. As of
April 2000 The Outdoor Channel was launched on approximately 1,900 cable systems
with approximately 5.7 million subscribers. The Outdoor Channel is under
contract with or has signed national carriage agreements with over 75 of the top
100 multi-system cable operators representing over 40 million potential
households.

                                      -12-
<PAGE>

     As of April 2000, 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 has augmented its professional staff. The Outdoor
Channel has retired some of its debt with the Company in the first half of 2000.
The Company presently intends to utilize such funds for working capital, to be
in a position to retire a portion of its bank loan and to make Lost Dutchman's
and GPAA acquisitions and improvements.

     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.

                                      -13-
<PAGE>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

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


     Exhibit
     Number
     ------

     27  Financial Data Schedule (SEC filing only).


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

         None.

                                      -14-
<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 12, 2000                        By:    /S/ PERRY T. MASSIE
                                                ----------------------------
                                                PERRY T. MASSIE,
                                                President and Chief
                                                Executive Officer




Dated:  May 12, 2000                        By:    /S/ RONALD D. WARD
                                                ----------------------------
                                                RONALD D. WARD,
                                                Controller
                                            (Principal Financial and Accounting
                                             Officer)

                                      -14-