<PAGE>   1

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549
                                  FORM 10-QSB

(X)              QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended
                 January 31, 1997 
                 OR
(  )             TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934 For the transition period from
                 _________ to ___________.

COMMISSION FILE NUMBER:  0-15859
                         -------

                               RICH COAST INC.                              
       -----------------------------------------------------------------
       (Exact name of small business issuer as specified in its charter)


          Delaware                                     Applied For    
------------------------------                    ----------------------
(State or other jurisdiction of                     (I.R.S. Employer
incorporation or organization)                     Identification No.)


                     10200 Ford Road, Dearborn,  MI  48126
                    ----------------------------------------
                    (Address of principal executive offices)

                                 (313) 582-8866         
                          ---------------------------
                          (Issuer's telephone number)

                           RICH COAST RESOURCES LTD.
                           -------------------------
  (Former name, former address and former fiscal year, if changed since last
                                    report)

Check whether the registrant (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports) and (2)
has been subject to such filing requirements for the past 90 days.  
YES  X   NO
    ---     ---
The number of shares outstanding of the issuer's classes of common equity, as
of January 31, 1997 is 14,901,713 shares of Common Stock.

Transitional Small Business Disclosure Format (check one):   YES    NO  X
                                                                ---    ---




                                                                               1
<PAGE>   2





NOTICE TO READER


We have compiled the consolidated balance sheets of Rich Coast Resources Ltd.
as at January 31, 1997 and 1996 and the consolidated statements of operations
for the nine months and three months ended January 31, 1997 and 1996 and the
consolidated statement of changes in financial position for the nine months
ended January 31, 1997 and 1996 from information provided by management.  We
have not audited, reviewed or otherwise attempted to verify the accuracy or
completeness of such information.  Readers are cautioned that these statements
may not be appropriate for their purposes.





/s/ Smythe Ratcliffe


Chartered Accountants

Vancouver, British Columbia
March 11, 1997





                                                                               2
<PAGE>   3
RICH COAST RESOURCES LTD.
CONSOLIDATED BALANCE SHEETS
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)

<TABLE>
<CAPTION>
=============================================================================================================
                                                                                    JANUARY 31,
                                                                             1997                1996        
-------------------------------------------------------------------------------------------------------------
<S>                                                                         <C>                 <C>          
ASSETS                                                                                                       
CURRENT                                                                                                      
  Cash                                                                     $      3,899         $    346,800 
  Accounts receivable                                                           371,459              499,558 
  Inventory                                                                     145,806                    0 
  Prepaid expenses                                                               21,715               30,419 
  Deposit                                                                             0              350,918 
-------------------------------------------------------------------------------------------------------------
                                                                                                             
                                                                                542,879            1,227,695 
DISTILLATION UNIT                                                             2,024,706            2,024,706 
INVESTMENT IN AND EXPENDITURES ON MINERAL                                                                    
  PROPERTIES                                                                          0               76,663 
CAPITAL ASSETS                                                                3,423,963            3,251,298 
PATENT AND TECHNOLOGY, net                                                       32,273               35,785 
DUE FROM JOSSCO INC.                                                                  0               20,000 
INVESTMENT IN AND EXPENDITURES ON OIL                                                                        
  AND PROPERTIES                                                                      0                    4 
-------------------------------------------------------------------------------------------------------------
                                                                           $  6,023,821         $  6,636,151 
=============================================================================================================
LIABILITIES                                                                                                  
CURRENT                                                                                                      
  Accounts payable and accrued liabilities                                 $  1,696,859             $925,747 
  9.25% Convertible debentures (note 4)                                         240,000              106,088 
  Current portion of long-term debt                                              87,023               73,738 
-------------------------------------------------------------------------------------------------------------
                                                                              2,023,882            1,105,573 
LONG-TERM DEBT (note 7)                                                       2,120,918            2,166,299 
-------------------------------------------------------------------------------------------------------------
                                                                              4,144,800            3,271,872 
-------------------------------------------------------------------------------------------------------------
Shareholders' Equity                                                                                         
CAPITAL STOCK (note 6)                                                       23,859,835           22,412,716 
CAPITAL STOCK SUBSCRIBED                                                              0              104,679 
ADJUSTMENT TO ASSETS ON ACQUISITION                                                                          
  OF PARTNERSHIP                                                                      0           (2,494,801)
FINANCING COSTS                                                                       0             (309,282)
DEFICIT                                                                     (21,980,814)         (16,349,033)
-------------------------------------------------------------------------------------------------------------
                                                                              1,879,021            3,364,279 
-------------------------------------------------------------------------------------------------------------
                                                                           $  6,023,821         $  6,636,151 
=============================================================================================================
</TABLE>





See notes to consolidated financial statements.
                                                                               3
<PAGE>   4
RICH COAST RESOURCES LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)

<TABLE>
<CAPTION>
=========================================================================================================
                                                   THREE MONTHS                      NINE MONTHS         
                                                ENDED JANUARY 31,                 ENDED JANUARY 31,      
                                               1997            1996            1997              1996    
---------------------------------------------------------------------------------------------------------
<S>                                         <C>           <C>               <C>               <C>        
SALES                                      $   388,538    $   435,742       $ 1,413,789       $1,124,062 
COST OF SALES                                  253,714        158,092         1,015,251          364,982 
---------------------------------------------------------------------------------------------------------
GROSS PROFIT                                   134,824        277,650           398,538          759,080 
---------------------------------------------------------------------------------------------------------
EXPENSES                                                                                                 
  Factoring fee                                 11,112         18,481            14,075           51,848 
  Wages                                        214,702        114,624           499,484          482,693 
  Office and general                            45,270         96,963           146,154          181,404 
  Telephone, facsimile and                                                                               
    utilities                                    6,529         16,959            22,978           41,639 
  Travel                                        10,419         27,063            64,453           66,045 
  Repairs and maintenance                        7,715         27,285            29,631           63,585 
  Financing                                         96         26,091            26,837           32,105 
  Audit and accounting                                                                                   
    and legal                                   16,360         28,480           132,168          103,257 
  Shareholder relations                          3,656         14,292            41,653          110,108 
  Listing and filing fees                           17         13,026             4,774           21,392 
  Bad debts                                          0            500             5,990           27,284 
  Consulting                                    49,390         10,388           657,443           26,963 
  Transfer agent                                     0          2,686                 0            8,020 
  Property taxes                                13,742         13,692            55,848           37,449 
  Insurance                                     18,867         11,713            71,076           40,089 
  Exchange translation (gain) loss               8,218          6,836            27,274          (29,811)
  Interest, miscellaneous income                                                                         
    and bank charges, net                       49,078            277           111,660           40,751 
  Depreciation                                  78,381         84,971           280,584          257,571 
---------------------------------------------------------------------------------------------------------
                                               533,552        514,327         2,192,082        1,562,392 
---------------------------------------------------------------------------------------------------------
NET LOSS FOR THE PERIOD                    $  (398,728)   $  (236,677)      $(1,793,544)      $ (803,312)
=========================================================================================================
LOSS PER SHARE                             $              $                 $                 $          
=========================================================================================================
WEIGHTED AVERAGE NUMBER OF                                                                               
  SHARES OUTSTANDING                        14,834,670      9,279,580        14,560,453        8,500,605 
=========================================================================================================
</TABLE>





See notes to consolidated financial statements.
                                                                               4
<PAGE>   5
RICH COAST RESOURCES LTD.
CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)

<TABLE>
<CAPTION>
=============================================================================================================
                                                   THREE MONTHS                       NINE MONTHS            
                                                ENDED JANUARY 31,                  ENDED JANUARY 31,         
                                               1997            1996             1997               1996      
-------------------------------------------------------------------------------------------------------------
<S>                                          <C>           <C>               <C>                 <C>         
CASH USED IN OPERATING ACTIVITIES                                                                            
Net loss for period                          $(398,728)   $  (236,677)       $(1,793,544)       $  (803,312) 
Item not involving cash                                                                                      
  Depreciation                                  78,371         84,971            280,584            257,571  
-------------------------------------------------------------------------------------------------------------
                                              (320,357)      (151,706)        (1,512,960)          (545,741) 
-------------------------------------------------------------------------------------------------------------
CHANGES IN NON-CASH WORKING CAPITAL                                                                          
  Deposit                                        9,492          7,409              5,460           (347,318) 
  Accounts receivable                           11,185       (162,818)           143,662           (261,746) 
  Prepaid expenses                              33,257        (28,718)            19,971            (26,602) 
  Accounts payable and accrued                                                                               
    liabilities                                (60,450)      (140,077)           332,734            (26,039) 
  Inventory                                    (55,259)             0           (145,806)                 0  
  Due to shareholder                           310,233              0             65,615            106,088  
-------------------------------------------------------------------------------------------------------------
                                               248,458       (324,204)           421,636           (555,617) 
-------------------------------------------------------------------------------------------------------------
                                               (71,899)      (475,910)        (1,091,324)        (1,101,358) 
-------------------------------------------------------------------------------------------------------------
INVESTING ACTIVITIES                                                                                         
  Adjustment to assets on merger                     0              0                  0         (2,494,801) 
  Additions to distillation unit                     0              0                  0            (16,001) 
  Expenditures on mineral properties                 0         (2,488)                 0             (2,488) 
  Purchase of capital assets                    (4,822)    (1,662,659)          (104,584)        (1,675,016) 
  Advance to Jossco Inc.                             0              0                  0            (20,000) 
-------------------------------------------------------------------------------------------------------------
                                                (4,822)    (1,665,147)          (104,584)        (4,208,306) 
-------------------------------------------------------------------------------------------------------------
FINANCING ACTIVITIES                                                                                         
  Acquisition of Waste Reduction                                                                             
    Systems                                          0      2,484,724                  0                  0  
  Issue of capital stock                                                                                     
    For cash                                         0        249,822            557,781          3,875,138  
    For settlement of debt                           0              0            105,000                  0  
    For services                                70,090        156,960            508,980                  0  
  Note payable                                       0              0                  0          2,000,000  
  Capital stock subscribed                           0     (2,537,268)                 0            104,679  
  Finder's fees                                      0       (309,282)                 0           (309,282) 
  Long-term debt                                 4,004      1,991,190             (3,504)           (28,341) 
  Repayment of capital lease                         0              0                  0             (2,006) 
-------------------------------------------------------------------------------------------------------------
                                                74,094      2,036,146          1,168,257          5,640,188  
=============================================================================================================
INCREASE (DECREASE) IN CASH                     (2,627)      (104,911)           (27,651)           330,524  
CASH, BEGINNING OF PERIOD                        6,516        451,711             31,550             16,276  
-------------------------------------------------------------------------------------------------------------
CASH, END OF PERIOD                          $   3,889    $   346,800        $     3,899        $   346,800  
=============================================================================================================
</TABLE>





See notes to consolidated financial statements.
                                                                               5
<PAGE>   6
RICH COAST RESOURCES LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JANUARY 31, 1997
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)



1.      BASIS OF PRESENTATION

        These unaudited consolidated financial statements have been prepared in
        accordance with accounting principles generally accepted in Canada for
        interim financial information and conform in all material respects with
        those of the United States.  These financial statements are condensed,
        do not include all disclosures required for annual financial
        statements, and should be read in conjunction with the Company's
        audited consolidated financial statements incorporated by reference in
        the Company's Annual Report on Form 10-K for the year ended April 30,
        1996.

        In the opinion of the Company's management, these financial statements
        reflect all adjustments necessary to present fairly the Company's
        consolidated financial position at January 31, 1997 and 1996 and the
        consolidated results of operations and the consolidated changes in
        financial position for the nine months ended.  The results of
        operations for the nine months ended January 31, 1997 are not
        necessarily indicative of the results to be expected for the entire
        fiscal year.

        The October 31, 1995 reorganization of the companies resulted in the
        Waste Reduction Systems partnership becoming 100% owned by Rich Coast
        Resources Inc., a Michigan corporation ("RCRI").  The acquisition has
        been accounted for using the purchase method, and accordingly, the
        financial statements have been retroactively restated to include the
        financial position and results of operations and cash flows of Waste
        Reduction Systems.

        Prior to acquiring the partnership interest, the Company reported its
        share of the net loss of the partnership as an adjustment of investment
        in the partnership.  As a result of the merger the Company owns 100% of
        the former partnership, consequently all the assets, liabilities and
        income and expense of that entity are included in the consolidated
        financial statements with effect from the commencement of business
        since the formation of the partnership approximates $4,988,000.

        Prior to acquiring the partnership interest,  the Company was engaged
        in the mineral exploration business and had an accumulated deficit of
        $13,210,746.  The accumulated losses of the waste reduction business
        since the formation of the partnership approximates $4,988,000.





                                                                               6
<PAGE>   7
RICH COAST RESOURCES LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JANUARY 31
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)


2.      CURRENCY TRANSLATION

        Financial statements for reporting periods up to and including the year
        ended April 30, 1996 were presented in Canadian dollars, the currency
        of the incorporation jurisdiction of the parent company.  Effective May
        1,1996 financial statements are presented in United States dollars
        (except for certain per share issue amounts which are expressed in
        Canadian (CDN) dollars) as the operations, effective control and
        management are located in the United States.  This change has been
        given retroactive effect to May 1, 1995 for comparative purposes.
        Capital stock and deficit of the Canadian parent have been restated in
        United States dollars using historical rates of exchange.  At May 1,
        1996 and January 31, 1997 the Canadian parent's investments in the U.S.
        operating entities are the only assets owned.  During the period ended
        January 31, 1997, the Canadian parent proceeded for domestication in
        the State of Delaware.

3.      LOSS PER SHARE

        Loss per share is computed using the weighted average number of common
        shares outstanding during each of the periods.

4.      CONVERTIBLE DEBENTURE

        The Company has issued two 9.25% convertible debentures for $240,000
        which are convertible at the option of the lenders into common shares
        at the price of $0.50 per share in respect to the $90,000 debenture and
        at the price of $0.25 per share in respect to the $150,000 debenture.
        Both debentures mature six months from their issue date of November 5,
        1996 for the $90,000 debenture and January 13, 1997 for the $150,000
        debenture.

5.      RELATED PARTY TRANSACTION

        Management fees of $8,820 for the nine months ended January 31, 1997
        (three months ended January 31, 1997 - $6,989 (six months ended January
        31, 1996 - $18,341, three months ended January 31, 1996 - $7,391), were
        paid to a company controlled by a director.





                                                                               7
<PAGE>   8
RICH COAST RESOURCES LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JANUARY 31
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)


6.   CAPITAL STOCK

     (a)  Authorized
            100,000,000 common shares without par value

     (b)  Issued

<TABLE>
<CAPTION>
===================================================================================================
                                      NUMBER OF               PRICE PER                            
                                       SHARES                 SHARE ($)                 AMOUNT     
---------------------------------------------------------------------------------------------------
                                                                                       (note 2)    
<S>                                    <C>                         <C>                 <C>         
BALANCE, APRIL 30, 1995                 7,749,422                                      $18,537,578 
Shares issued                                                                                      
  For cash, private                                                                                
    placement                           1,198,945              CDN    $ 1.00               836,644 
  For cash on exercise                                                                             
    of stock options                      466,150              CDN    $ 1.22               396,810 
  For services                            166,600                                          156,960 
  Acquisition of Waste Reduction                                                                   
    Reduction Systems                   3,383,200              CDN    $ 1.00             2,484,724 
---------------------------------------------------------------------------------------------------
BALANCE, JANUARY 31, 1996              12,964,317                                       22,412,716 
                                                                                                   
Shares issued                                                                                      
  For cash on exercise of                                                                          
    stock options                         109,000              CDN    $ 1.13                81,797 
  For services                             83,400              CDN    $ 1.34                89,074 
  For settlement of loan                                                                           
    payable to shareholder                167,376              CDN    $ 0.85               104,487 
---------------------------------------------------------------------------------------------------
BALANCE, APRIL 30, 1996                13,324,093                                       22,688,074 
                                                                                                   
Shares issued                                                                                      
  For settlement of debt                  152,470                     $ 0.70               105,000 
  For cash, private                       635,000                     $                    489,650 
  For cash on exercise of                  81,750              CDN    $                     68,131 
  For services                            708,400                     $                    508,980 
---------------------------------------------------------------------------------------------------
BALANCE, JANUARY 31, 1997              14,901,713                                      $23,859,835 
===================================================================================================
</TABLE>





                                                                               8
<PAGE>   9
RICH COAST RESOURCES LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JANUARY 31
(U.S. DOLLARS)
(UNAUDITED - SEE NOTICE TO READER)


6.   CAPITAL STOCK (Continued)

   (c)  At January 31, the following share purchase options were outstanding

<TABLE>
<CAPTION>                                                                      
==================================================================
                                          EXERCISE        NUMBER        
EXPIRY DATE                                PRICE        OF SHARES       
------------------------------------------------------------------
<S>                                        <C>             <C>          
October 3, 1998                     CDN    $ 0.84           15,000      
February 1, 1997                    CDN    $ 1.34           40,218      
March 12, 1997                      CDN    $ 1.27           10,031      
May 10, 1997                        CDN    $ 1.48          184,453      
October 26, 2005                    CDN    $ 0.60           14,450      
September 8, 2005                          $ 1.00          400,000      
December 27, 2005                          $ 0.50          800,000      
January 15, 2006                           $ 0.50          800,000      
January 15, 2006                           $ 0.75          200,000      
==================================================================
</TABLE>


     (d)  At January 31, 1997, share purchase warrants were outstanding for
          3,600,000 shares exercisable at $0.62 per share to January 10, 2006.

     (e)  The Company has issued 600,000 non-transferable warrants in
          connection with the issue of a debenture for $150,000 (note 4).  The
          warrants entitle the holder to purchase up to 600,000 common shares
          at $0.25 per share at any time until January 12, 1999.

7.   LONG-TERM DEBT

<TABLE>
<CAPTION>
=========================================================================
                                             1997                1996         
-------------------------------------------------------------------------
<S>                                        <C>                 <C>   
10% senior secured note, due                                                  
October 1, 2001, interest                                                     
payable monthly                            $2,000,000          $2,000,000     
                                                                              
Land contract payable in monthly                                              
instalments of $4,753 each including                                          
principal and interest at 8%                  194,605             224,700     
                                                                              
Equipment loan                                  2,487              15,337     
-------------------------------------------------------------------------
                                                                              
                                            2,197,092           2,240,037     
Less:  Current portion                         76,174              73,738     
-------------------------------------------------------------------------
                                                                              
                                           $2,120,918          $2,166,299     
=========================================================================
</TABLE>





                                                                               9
<PAGE>   10

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

The following information should be read in conjunction with the unaudited
consolidated financial statements included herein which are prepared in
accordance with generally accepted accounting principles ("GAAP") in Canada for
interim financial information.  There are no material differences between
Canadian GAAP and U.S. GAAP with respect to the Company's unaudited financial
statements.  All figures used in this form are in U.S. dollars unless otherwise
stated.

RESULTS OF OPERATIONS

To the date of this Report, the Company's business has been speculative.  Cash
flow from the Company's operations does not, at present, satisfy all
operational requirements and cash commitments.  The Company has been dependent
and continues to rely upon the sale of equity and debt securities in order to
fund its development activities and operations and its ability to continue
operations is dependent on the ability of the Company to continue to obtain
financing.  There is no assurance that the Company's acquisition of Waste
Reduction Systems will provide cash flows sufficient to make the Company a
successful operating enterprise.  If Waste Reduction Systems does not generate
sufficient levels of cash flow from operations additional financial support
will be required.  Without such funding there could be doubt as the Company's
ability to continue to operate in the normal course of business.

The Company has completed its latest technology system for recycling oils and
start of production using the new system as a result of winning a major
competition for an oil waste stream at one of the big three automotive
companies.

The one million gallon bio treatment system located at Rich Coast's new
Dearborn facility is expected to be in production by mid year.  Capacity of the
bio system is expected to exceed 50,000 gallons per day.

For the next few months Rich Coast's efforts will be concentrated on fulfilling
expectations of its new automotive customers and in accelerating production of
its bio treatment plant.  After that, its priorities will be to upgrade the
quality and increase its price per gallon from recycled oil product, to
increase the Company's capacity, and then to pursue the fuel oil market.

In the nine months ended January 31, 1997, the Company had sales of $1,413,789
and a gross profit of $398,538.





                                                                              10
<PAGE>   11
For the nine months ended January 31, 1997, the Company recorded a net lossof
$1,793,544 or $0.12 per share.  These results compare with a net loss of
$803,312 for the nine months ended January 31, 1996  or $0.09 per share.  The
results of operation for the nine months ended October 31, 1997 were generally
in line with management's expectations.

REVENUES

For the past several years, the Company has been in the development stage and
therefore has not generated revenues sufficient to provide an operating profit.

COST AND EXPENSES

PROFESSIONAL FEES (ACCOUNTING, LEGAL AND AUDIT).  Professional fees increased
to $132,168 for the nine months ended January 31, 1997 from $103,257 for the
same period in 1996.  Much of the increase was due to expenses associated with
the Company's proposed continuance to the State of Delaware.  The Company
continues to follow a policy of completing much of the regulatory filings
within the Company's head office with review by appropriate outside
professionals.

SHAREHOLDER RELATIONS.  These costs for the nine months ended January 31, 1997
decreased to $41,653 versus $110,108 for the same period in 1996.

TRAVEL COSTS.  Travel costs were $64,453 for the period in 1997, versus $66,045
for the 1996 period.

CONSULTING FEES.  Expenses in the category increased from $27,284 for the
period in 1996 to 657,443 for the nine months ended January 31, 1997.  During
the current period, the Board of Directors authorized the issuance of 400,000
shares at a deemed price of $0.875 per share, for a total of $350,000, in lieu
of cash compensation for services provided to the Company by a consultant.
These services included assisting management in developing corporate strategy,
assistance in the establishment of the Company's joint venture in the waste
processing industry and negotiating the Company's acquisition of the minority
interest in Waste Reduction Systems, and assisting the Company's management in
completing a due diligence and business feasibility review of that business.

LOSS FOR THE PERIOD

The net loss for the nine month period ended January 31, 1997 amounted to
$1,793,544 versus a net loss for the nine months ended January 31, 1996 of
$803,312.





                                                                              11
<PAGE>   12
The Company does not believe that inflation has a significant effect on its
business.



LIQUIDITY AND CAPITAL RESOURCES

To date, the Company has not generated sufficient revenue to fund operations.
Since its inception, the Company has financed its exploration and development
costs and its investment in Waste Reduction Systems primarily from the sale of
equity securities through private placements and exercise of director's and
employees' options.  As at January 31, 1997 the Company had $3,889 cash on
hand.  Current assets totaled $542,879.

The Company does not have any material commitments or anticipated material
capital expenditures to third parties for the coming years, however, the
Company has committed to raising funds through the private sale of equity or
debt instruments in order to facilitate the expansion.  The Company presently
has no firm commitments for such financing and there can be no assurance that
adequate financing will be available in a timely manner or on favorable terms
or at all.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibit 27.4 - Financial Data Schedule

(b)      Reports on Form 8-K:  None.  During the quarter ended January 31,
1997, the Company filed no reports on Form 8-K.





                                                                              12
<PAGE>   13
                                 SIGNATURES

Pursuant to 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.

                                       RICH COAST INC.



Date:  March 14, 1997                  by: /s/ James P. Fagan James
                                          ---------------------------------
                                            P. Fagan, President



Date:  March 14, 1997                  by: /s/ Michael M. Grujucich
                                          ---------------------------------
                                           Michael M. Grujucich, Chief
                                           Financial and Accounting Officer





<PAGE>   14

                               EXHIBIT INDEX


Exhibit No.                     Description                      Page No.
-----------                     -----------                      --------
   27.4                   Financial Data Schedule