<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                         ------------------------------

                                    FORM 10-Q

                QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                         ------------------------------


      For Quarter Ended March 31, 2000     Commission file number 0-11656


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION


                A Delaware Corporation     I.R.S. No. 22-1807533

              Two Nationwide Plaza, Suite 760, Columbus, Ohio 43215

                    Registrant's Telephone No. (614) 221-6000

          Indicate by check mark whether the Registrant (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 such filing requirements for the past 90
          days.

                                 Yes [X] No [ ]

          Indicate the number of shares outstanding of each of the issuer's
          classes of Common Stock, as of the latest practicable date.

         THE FOLLOWING CLASS IS TRADED IN THE OVER THE COUNTER MARKET AS "WMDB".

                           CLASS                OUTSTANDING AT OCTOBER 31, 2000
                           -----                -------------------------------

                  Common Stock, par value                6,069,356
                    $.01 per share




<PAGE>   2




                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES


                                    I N D E X


PART I                                                                PAGE NO.
------                                                                --------

Financial Statements:

      Consolidated Balance Sheets - March 31, 2000 (Unaudited)
      and December 31, 1999 (See Note 1)                                 3-4

      Consolidated Statements of Operations (Unaudited)
      Three Months Ended March 31, 2000 and 1999                          5

      Consolidated Statements of Comprehensive Income (Unaudited)
      Three Months Ended March 31, 2000 and 1999                          6

      Consolidated Statements of Cash Flow (Unaudited)
      Three Months Ended March 31, 2000 and 1999                         7-8

      Notes to Consolidated Financial Statements                         9-15

      Management's Discussion and Analysis of Financial Condition
      and Results of Operations                                         16-20


PART II
-------

Other Information                                                         21
      Signatures                                                          21


Exhibits:
      Exhibit 27 EDGAR Financial Data Schedule                            22

                                        2

<PAGE>   3

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                   AS AT MARCH 31, 2000 AND DECEMBER 31, 1999

                                     ASSETS


<TABLE>
<CAPTION>
                                                                                        March 31                  December 31
                                                                                          2000                        1999
                                                                                  ---------------------       --------------------
                                                                                        (Unaudited)              (See Note 1)
<S>                                                                                <C>                         <C>
 Current assets:
        Cash                                                                       $            11,969         $           99,558
                                                                                  ---------------------       --------------------
        Restricted cash                                                                        462,399                    460,813
                                                                                  ---------------------       --------------------

        Receivables:
             Trade, net of allowance for doubtful accounts
                   of $698,000 (March) and $638,000 (December)                               1,716,408                  1,840,160
             Notes receivable                                                                    6,175                      6,076
             Miscellaneous                                                                     268,724                    233,627
                                                                                  ---------------------       --------------------
                                                                                             1,991,307                  2,079,863
                                                                                  ---------------------       --------------------

        Inventories                                                                             15,149                     15,149
        Prepaid expenses and other                                                             175,284                    176,767
                                                                                  ---------------------       --------------------
             Total current assets                                                            2,656,108                  2,832,150
                                                                                  ---------------------       --------------------

 Property, plant and equipment, at cost                                                     13,282,525                 13,234,424
        Less: Accumulated depreciation and
             amortization                                                                   (2,597,596)                (2,414,890)
                                                                                  ---------------------       --------------------
                                                                                            10,684,929                 10,819,534
                                                                                  ---------------------       --------------------
 Investments and other assets:

        Notes and other receivables, net of current portion                                     62,452                     64,033
        Notes receivable from officers, employees and
             related parties, net of amounts payable                                           730,936                    735,107
        Life insurance premiums receivable                                                     351,295                    396,337
        Investment and related advances, net                                                 3,801,405                  3,440,171
        Excess of cost over assets of businesses
             and subsidiaries acquired, less amortization                                      144,407                    146,569
        Deferred income taxes
        Deferred charges                                                                       709,327                    719,363

        Other assets                                                                            23,627                     25,046
                                                                                  ---------------------       --------------------
             Total investments and other assets                                              5,823,449                  5,526,626
                                                                                  ---------------------       --------------------

                                                                                   $        19,164,486         $       19,178,310
                                                                                  =====================       ====================
</TABLE>


                                   (Continued)

 The accompanying notes are an integral part of the financial statements.


                                        3
<PAGE>   4


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES

                     CONSOLIDATED BALANCE SHEETS (Continued)

                   AS AT MARCH 31, 2000 AND DECEMBER 31, 1999

                      LIABILITIES AND STOCKHOLDERS' EQUITY


<TABLE>
<CAPTION>
                                                                                        March 31                 December 31
                                                                                         2000                      1999
                                                                                  ---------------------     ---------------------
                                                                                        (Unaudited)              (See Note 1)

<S>                                                                                <C>                       <C>
 Current liabilities:
        Notes payable-officer                                                      $           255,000       $           225,000
        Accounts payable                                                                     2,308,328                 1,987,196
        Accrued expenses and other liabilities:
             Salaries and wages                                                                100,967                   169,427
             Taxes, other than federal income taxes                                          1,904,162                 1,586,292
             Interest                                                                          237,329                   219,397
             Other                                                                             740,842                   704,128
        Long-term obligations classified as current                                          8,131,132                 5,881,325
                                                                                  ---------------------     ---------------------
             Total current liabilities                                                      13,677,760                10,772,765
                                                                                  ---------------------     ---------------------

 Long-term obligations, less amounts classified
        as current                                                                           6,853,039                 9,324,236
                                                                                  ---------------------     ---------------------


             Total liabilities                                                              20,530,799                20,097,001
                                                                                  ---------------------     ---------------------

 Minority interests                                                                            439,685                   433,900
                                                                                  ---------------------     ---------------------

 Stockholders' equity:
        Preferred stock: $10 stated value
             authorized: 500,000 shares
             issued: none                                                                            -                         -
        Common stock: $.01 par;
             authorized: 12,000,000 shares
             issued: 8,280,807 shares (March) and
             8,280,807 shares (December)                                                        82,808                    82,808
        Capital in excess of par                                                            10,261,735                10,261,735

        Retained earnings (deficit)                                                         (9,384,705)               (8,931,298)
                                                                                  ---------------------     ---------------------
                                                                                               959,838                 1,413,245
        Treasury stock, at cost, 2,211,451 shares (March)
             and 2,211,451 shares (December)                                                (2,765,836)               (2,765,836)
                                                                                  ---------------------     ---------------------
                  Total stockholders' equity                                                (1,805,998)               (1,352,591)
                                                                                  ---------------------     ---------------------

                                                                                   $        19,164,486       $        19,178,310
                                                                                  =====================     =====================
</TABLE>


 The accompanying notes are an integral part of the financial statements.


                                        4

<PAGE>   5


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS

               FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                 Three Months Ended March 31
                                                                           ----------------------------------------------------
                                                                                     2000                           1999
                                                                           ----------------------       -----------------------
<S>                                                                         <C>                          <C>
 Revenues:
        Service income                                                      $          1,355,860         $             817,356

 Costs and expenses:
        Selling, general and administrative
             expenses, net                                                             1,601,142                       981,901
        Depreciation                                                                     182,706                       163,059
                                                                           ----------------------       -----------------------
                                                                                       1,783,848                     1,144,960
                                                                           ----------------------       -----------------------

 Operating loss                                                                         (427,988)                     (327,604)
 Other income (expense):
        Minority interest in affiliates, net of tax                                       (5,787)                        4,112
        Equity in earnings (losses) of affiliates                                        186,214                       (47,545)
        Interest expense                                                                (274,707)                     (199,041)
        Other, net                                                                        91,903                       (80,527)
                                                                           ----------------------       -----------------------
                                                                                          (2,377)                     (323,001)
                                                                           ----------------------       -----------------------

 Loss before income taxes                                                               (430,365)                     (650,605)
 Income tax benefit (expense)                                                               (819)                      175,400
                                                                            ----------------------       -----------------------
 Net loss from continuing operations                                                    (431,184)                     (475,205)

 Net loss discontinued operations                                                        (22,224)                      (34,998)
                                                                           ----------------------       -----------------------
 Income (Loss) before extraordinary item and cumulative effect
  of a change in accounting principle                                                   (453,408)                     (510,203)

 Cumulative effect of a change in  accounting principle,
 net  of minority interests                                                                    -                      (304,912)
                                                                           ----------------------       -----------------------

 Net  income (loss)                                                         $           (453,408)        $            (815,115)
                                                                           ======================       =======================

 Loss per common share - basic and diluted: (Note 6)
        Income(loss) from continuing operations                             $              (0.07)        $               (0.08)
        Income(loss) from discontinued operations                                           0.00                         (0.01)
        Cumulative effect of a change in accounting principle,
        net of minority interests                                                           0.00                         (0.05)
                                                                           ----------------------       -----------------------
             Net Income(loss)                                               $              (0.07)        $               (0.14)
                                                                           ======================       =======================

 Weighted average shares outstanding:
        Basic                                                                          6,069,356                     6,056,255
                                                                           ======================       =======================
        Diluted                                                                        6,069,356                     6,056,255
                                                                           ======================       =======================
</TABLE>

 The accompanying notes are an integral part of the financial statements.

                                        5

<PAGE>   6


                 THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

               FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 1999

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                             Three Months Ended March 31
                                                                                   2000                           1999
                                                                             ------------------         ---------------------

<S>                                                                      <C>                             <C>
 Income (loss) before cumulative effect of
        a change in accounting principle                                 $            (453,408)          $          (510,203)


 Add:
        Unrealized gain on securities available
        for sale, net of tax                                                                 -                        24,549

 Reclassification adjustment for securities losses
        included in net loss, net of tax                                                     -                        59,160
                                                                             ------------------              ----------------


 Comprehensive income (loss) before cumulative
        effect of a change in accounting principle                                    (453,408)                     (426,494)


 Cumulative effect of a change in accounting principle,
        net of minority interest                                                             -                      (304,912)


                                                                             ------------------              ----------------
 Comprehensive income (loss)                                             $            (453,408)          $          (731,406)
                                                                             ==================              ================
</TABLE>


    The accompanying notes are an integral part of the financial statements

                                       6
<PAGE>   7


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                FOR THE THREE MONTHS ENDED MARCH 31 2000 AND 1999

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                          Three months ended March 31
                                                                           -------------------------------------------------------
                                                                                        2000                         1999
                                                                           --------------------------  ---------------------------

<S>                                                                         <C>                         <C>
 Cash flows from operating activities:
     Net loss                                                               $               (453,408)   $                (815,115)
                                                                           --------------------------  ---------------------------
     Adjustments required to reconcile net income
       to net cash provided by operating activities:
          (Income) loss from discontinued operations                                          22,224                       34,998
          Amortization, depreciation and other, net                                          184,868                      166,695
          Provision for losses on notes and accounts receivable                               37,825                        4,234
          Provision for deferred income taxes                                                      -                     (175,400)
          (Gain) loss on disposition of assets                                               (65,724)                      89,560
          Minority interest in earnings (losses) of consolidated affiliates                    5,785                       (4,112)
          Equity in net losses (earnings) of unconsolidated affiliates                      (186,214)                      47,545
          Changes in assets and liabilities:
            Receivables                                                                       39,330                      566,598
            Merchandise inventories                                                                -                        6,822
            Prepaid expenses and other current assets                                          1,483                        7,226
            Accounts payable                                                                 321,132                        2,768
            Accrued expenses and other liabilities                                           304,056                      297,029
            Deferred charges and other                                                        11,456                     (134,766)
                                                                           --------------------------  ---------------------------
     Total adjustments                                                                       676,221                      909,197

 Net cash provided by (utilized in) continuing operations                                    169,659                      183,398

 Net cash provided by (utilized in) discontinued operations                                   53,154                      (89,316)

                                                                           --------------------------  ---------------------------
            Net cash provided by operating activities                                        222,813                       94,082
                                                                           --------------------------  ---------------------------

 Cash flows from investing activities:
     Proceeds from the sale of assets                                                         65,724                       89,748
     Decrease in notes receivable                                                              1,482                       75,002
     Investment and advances to affiliates                                                  (185,744)                  (1,152,484)
     (Increase) decrease in receivable due from related parties
       and former affiliates, net                                                             49,213                      265,387
     Utilization of or (deposit to) restricted cash                                           (1,586)                      32,951
     Capital expenditures                                                                    (48,102)                     (70,090)
                                                                           --------------------------  ---------------------------
 Net cash used in investing activities                                                      (119,013)                    (759,486)
                                                                           --------------------------  ---------------------------

 Cash flows from financing activities:
     Treasury stock purchased                                                                      -                      (24,592)
     Proceeds from officer loan                                                               50,000                      105,000
     Principal payments of officer loan                                                      (20,000)                     (30,000)
     Principal payments of long-term obligations                                            (310,240)                     (57,481)
     Proceeds from long-term obligations                                                      88,850                      100,000
                                                                           --------------------------  ---------------------------
 Net cash provided by (used in) financing activities                                        (191,390)                      92,927
                                                                           --------------------------  ---------------------------

 Net decrease in cash                                                                        (87,590)                    (572,477)

 Cash at beginning of period                                                                  99,558                      575,749
                                                                           --------------------------  ---------------------------
 Cash at end of period                                                      $                 11,968    $                   3,272
                                                                           ==========================  ===========================
</TABLE>


                                   (Continued)

 The accompanying notes are an integral part of the financial statements.

                                        7
<PAGE>   8

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                AND SUBSIDIARIES

                CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

                FOR THE THREE MONTHS ENDED MARCH 31 2000 AND 1999

                           (UNAUDITED)





<TABLE>
<CAPTION>
                                                                                        Three months ended March 31,
                                                                           -------------------------------------------------------
                                                                                        2000                         1999
                                                                           --------------------------  ---------------------------
<S>                                                                        <C>                         <C>
 Cash paid during the three months for:
     Interest, net of interest income                                      $                 231,755   $                  190,919
     Income taxes                                                          $                       -   $                        -

 Supplemental disclosures of noncash
 investing and financing activity:

     A subsidiary and a partnership, of which the subsidiary is the
     managing general partner, purchased equipment which was
     financed by entering into installment finance agreements.
       Increase in equipment cost, net                                      $                           $                  73,461
       Increase in long-term obligations                                                           -                      (73,461)
</TABLE>











 The accompanying notes are an integral part of the financial statements.

                                        8

<PAGE>   9

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.  MANAGEMENT'S REPRESENTATION

         In the opinion of management, the accompanying unaudited consolidated
         financial statements contain all adjustments (consisting only of normal
         adjustments, cumulative effect of change in accounting principle re
         start-up costs and recurring accruals) necessary to present fairly The
         Wendt-Bristol Health Services Corporation ("Wendt-Bristol" or
         "Company") and subsidiaries consolidated financial position as at March
         31, 2000 and December 31, 1999 and the consolidated results of its
         operations for the three months ended March 31, 2000 and 1999 as well
         as the cash flows for the respective three months. The results of
         operations for any interim period are not necessarily indicative of
         results for the full year. THESE FINANCIAL STATEMENTS SHOULD BE READ IN
         CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES THERETO CONTAINED
         IN THE WENDT-BRISTOL ANNUAL REPORT FILED AS FORM 10-K FOR THE YEAR
         ENDED DECEMBER 31, 1999, WHICH IS HEREBY INCORPORATED BY REFERENCE.
         REFERENCE SHOULD ALSO BE MADE TO THE NOTE CONCERNING THE INDEPENDENT
         AUDITORS "GOING CONCERN" AND RECLASSIFICATIONS OPINION, WHEN ISSUED,
         CONTAINED THEREIN.

         As a result of the Company's inability to pay its outside auditors the
         balance of prior year audit fees, the financial statements included in
         this report have not been reviewed as required by Rule 10-01(d). A
         mutually acceptable payment schedule has been negotiated and payments
         are being made.

2.  FINANCIAL STATEMENTS RESTATEMENT AND RECLASSIFICATIONS

         Certain prior year amounts have been reclassified to conform to current
         year classifications, including the reclassification to "Discontinued
         Operations" of the results of operations of the nursing home segment.

         In addition, the 1999 continuing operations Federal income tax benefit
         ($216,000) and the Federal income tax benefit attributable to the
         cumulative effect of writing off start-up costs ($121,000) were
         reversed and offset by the reversal of the Deferred tax liability
         ($175,400) in order to conform with the determination presented in the
         Company's Form 10-K at December 31, 1999.


(Continued)


                                        9

<PAGE>   10


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(CONTINUED)

3.  WRITE-OFF OF START-UP COSTS

         On April 3, 1998 the Accounting Standards Executive Committee issued
         Statement of Position (SOP) 98-5 "Reporting on the Costs of Start-up
         Activities" which states that the costs of start-up activities,
         including organization costs, should be expensed as incurred.
         Implementation of SOP 98-5 is required for financial statements issued
         for fiscal years beginning after December 15, 1998 as of January 1,
         1999. The cumulative effect of the adoption of SOP 98-5 was a charge to
         earnings of $304,912 (including minority interests) for the quarter
         ended March 31, 1999.

4.  INCOME TAXES

         Federal, state and local taxes are summarized as follows:

                                                   Three Months Ended March 31,
                                                   ----------------------------
                                                          2000             1999
                                                          ----             ----
         Federal taxes:
           Current expense (benefit)                  $     --        $      --
            Deferred expense (benefit)                      --         (175,400)

         State and local taxes:
           Current expense                                  819
                                                       ------------   ----------
         Total expense (benefit)                      $     819       $(175,400)
                                                       ============   ==========

         Reference is made to Note 2 herein.

5.  EARNINGS PER SHARE

         In February 1997, the Financial Accounting Standard Board issued
         statement of Financial Accounting Standards No. 128, "Earnings per
         Share," which changed the method used to calculate earnings per share.
         Basic earnings per share has been calculated as income available to
         common stockholders divided by the weighted average number of common
         shares outstanding. Diluted earnings per share has been calculated as
         diluted income available to common stockholders divided by the diluted
         weighted average number of common shares. Diluted weighted average
         number of common shares has been calculated using the treasury stock
         method for Common Stock equivalents, which includes Common Stock
         issuable pursuant to stock options and Common Stock warrants. The
         following is provided to reconcile the earnings per share calculations:

(Continued)

                                       10

<PAGE>   11



                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(CONTINUED)


5.  EARNINGS PER SHARE (CONTINUED)

                                                        Three Months Ended
                                                              March 31,
                                                         2000          1999
                                                         ----          ----
Income (loss) from continuing operations            $  (431,184)   $  (475,205)

Income (loss) from discontinued operations              (22,224)       (34,998)

Cumulative effect of a change in
    accounting principle                                   --         (304,912)
                                                    -----------    -----------

Income (loss) available to common stockholders
  and assumed conversions                           $  (453,408)   $ (815,115)
                                                    ===========    ===========

Shares:

Weighted average shares (basic)                       6,069,356     6,056,255
  Effect of dilutive securities
         Options                                           --            --
         Warrants                                          --            --
         Convertible Debt                                  --            --
                                                    -----------    ----------
Diluted weighted average shares                       6,069,356(1)  6,056,255(1)
                                                    ===========    ==========

Income (loss) per common share-basic and diluted:
    Income (loss) from continuing operations        $      (.07)   $     (.08)

    Income (loss) from discontinued operations                           (.01)

    Cumulative effect of a change in
    accounting principle                                   --            (.05)
                                                    -----------    ----------

    Net income (loss)                               $      (.07)   $     (.14)
                                                    ===========    ==========

     (1)  At March 31, 2000 and 1999 all potential common stock options,
          warrants, and options associated with convertible debt were excluded
          because they have expired or their exercise would be anti-dilutive due
          to the net loss.

(Continued)


                                       11
<PAGE>   12



                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(CONTINUED)

6.  UNCONSOLIDATED AFFILIATES/MINORITY INTEREST

Unaudited financial information of the affiliates which are accounted for by the
equity method is summarized below:
COMBINED BALANCE SHEETS

                                             March 31, 2000    December 31, 1999
                                           ----------------    -----------------
Current assets                             $      2,648,707    $      2,364,919
Property, plant and equipment
  net of accumulated depreciation                 6,428,513           6,636,526
Other non-current assets                            315,839             264,201
                                           ----------------    ----------------
Total assets                               $      9,393,059    $      9,265,646
                                           ================    ================

Liabilities                                $      8,803,817    $      8,725,655
Equity                                              589,242             539,991
                                           ----------------     ---------------
Total Liabilities and equity               $      9,393,059    $      9,265,646
                                           ================    ================

COMBINED STATEMENTS OF OPERATIONS


                                              Three Months Ended March 31,
                                                  2000                 1999
                                                  ----                 ----
Service Revenues                          $      2,180,664     $     1,914,512
Operating income (loss)                   $         50,842     $      (273,678)
Income (loss) before cumulative effect
 of a change in accounting principle      $         49,250     $      (472,832)
Cumulative effect of a change in
  accounting principle                    $            --      $      (427,516)
Net Income (loss)....@100%                $         49,250     $      (900,348)

As a result of the limited liability companies being taxed as partnerships for
Federal income tax purposes, there is no tax provided for earnings. See Note 4.
Income Taxes.

7.  MARKETABLE SECURITIES

The Company determines the appropriate classification of marketable securities
at the time of purchase and reevaluates such designation at each balance sheet
date. At the beginning of the 1999 quarter, marketable securities were
classified as available-for-sale and were carried at fair value, with unrealized
holding gains and losses reported as a separate component of stockholders'
equity. During the 1999 quarter the securities were sold and the realized loss
of approximately $90,000 is included in the caption Other income (expense) in
the Consolidated Statements of Operations. There have been no marketable
securities held in the year 2000.

(Continued)

                                       12

<PAGE>   13


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(CONTINUED)

8.  NEW ACCOUNTING PRONOUNCEMENTS

         Effective for fiscal years beginning after June 15, 2000, FASB
         Statement No. 133 "Accounting for Derivative Instruments and Hedging
         Activities", as amended, requires the recording of deferred gains or
         losses on foreign currency hedge transactions for the effective portion
         of the cash flow hedge as a component of comprehensive income and
         reclassifies into earnings in the same period as the hedged forecasted
         transactions affects earnings. At March 31, 2000 the Company has
         deferred approximately $542,000 of losses on the foreign currency
         hedges .

         In December 1999, the Securities and Exchange Commission issued Staff
         Accounting Bulletin ('SAB") No. 101, "Revenue Recognition in Financial
         Statements." The guidelines in SAB 101 must be adopted during the
         fourth quarter of fiscal 2000 and the effects, if any, are required to
         be recorded through a retroactive, cumulative-effect adjustment as of
         the beginning of the fiscal year, with a restatement of all prior
         interim quarters in the year. Management has not completed its
         evaluation of the effects, if any, that SAB 101 will have on its income
         statement presentation, operating results, or financial position.

9.  LONG-TERM DEBT RECLASSIFICATION TO CURRENT

         Reference should be made to Note 7 in the Company's Form 10-K for the
         year ended December 31, 1999 concerning the re-classification of
         certain long-term debt to current installments. In addition to those
         items, at March 31, 2000, the Company has also re-classified the debt
         of an equipment lender ($177,500) to current as a result of the receipt
         of notices of default. A notice was received, by a Subsidiary, in
         September 2000 from its bank concerning a default on the mortgages on
         two facilities acquired from non- consolidated affiliates for failure
         of borrower to pay the scheduled payments when due. The total due under
         the obligations at the time of the notice was $2,581,300; the Company
         has reclassified the entire balance of March 31, 2000 ($2,603,200) as
         current. Management is currently addressing alternate payment schedules
         and other possible remedies to the defaults and remains cautiously
         optimistic of the outcome.

10.  EQUITY IN AFFILIATES

         Reference should be made to Notes 6 and 11I in the Company's Form 10-K
         for the year ended December 31, 1999 concerning the forgiveness of debt
         ($1,745,000) of an unconsolidated entity. During the quarter ended
         March 31, 2000, approximately $330,000 additional advances occurred in
         order to sustain the entity

         (Continued)


                                       13

<PAGE>   14


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(CONTINUED)

10.  EQUITY IN AFFILIATES (CONTINUED)

         during the transition period of restructuring and/or disposing of the
         business. Management will further review its estimate of the
         collectibility of the advances upon completion of the December 31, 2000
         annual results to be included in its Form 10-K since the outcome will
         be more readily determinable based upon potential transactions
         currently under consideration.

11.  LEGAL PROCEEDINGS

         (a)      On August 17, 2000, a group of individuals alleging ownership
                  of 1,820,987 shares of common stock of the Company filed a
                  Schedule 13D with the Securities and Exchange Commission
                  indicating an intention to elect a slate of directors which
                  they intend to nominate. No slate has, as of yet, been
                  proposed by such parties. On August 30, 2000 the Company filed
                  a Complaint for Declaratory Injunctive and Other Relief in the
                  United States District Court for the Southern District of
                  Ohio, Eastern Division, Civil Action No. 200-996 against the
                  parties to the 13D, alleging, among other things (i) the
                  intentional and fraudulent omission of required information
                  rendering the 13D statement invalid and unenforceable and
                  asking for a declaratory judgment and injunctive relief and
                  (ii) breach of fiduciary duty by defendants Clemente Del
                  Ponte, a past director, and McBridge Advisory Ltd., an
                  affiliate of Del Ponte, by disclosing confidential and
                  proprietary financial and other information to third parties,
                  resulting in monetary damage to the Company.

                  In November 2000, the parties agreed to a settlement whereby
                  all litigation would be dismissed without prejudice and the
                  schedule 13D('s) would be re-filed to indicate such
                  shareholders are currently holding shares for investment
                  purposes only.

         (b)      As a result of a class-action suit brought against one of the
                  Company's equipment and maintenance vendors (by third
                  parties), a tentative settlement has been proposed. The
                  Company has not estimated its portion of the proposed
                  settlement (approximately $20 million total to all customers);
                  the proposed settlement is related to previously paid
                  maintenance expenses ($2,000,000 paid over an 8 year period by
                  the Company and affiliates). Such amount, when resolved, might
                  result in either a credit against its open accounts payable or
                  a credit toward future purchases, but no cash to be issued by
                  the Vendor. Due to the uncertainty, the Company has NOT ---
                  recorded the proposed settlement.

(Continued)



                                       14
<PAGE>   15



                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(CONTINUED)


11.  LEGAL PROCEEDINGS (CONTINUED)

         (c)      A lawsuit was filed in the Court of Common Pleas, Franklin
                  County, Ohio (Case no. 00CVH098642) on September 26, 2000,
                  captioned Siemens Financial Services, Inc., f/k/a Siemens
                  Credit Corporation v. Wendt-Bristol Health Services
                  Corporation (and other named affiliates).

                  Reference is hereby made to "Threatened Litigation" included
                  in Item 3 of the Company's Form 10-K for the year ended
                  December 31, 1999 concerning Siemens Financial Services, Inc.


                                       15
<PAGE>   16


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

NOTE:  REFERENCE SHOULD BE MADE TO THE NOTES TO CONSOLIDATED FINANCIAL
STATEMENTS HEREIN.

Except for historical information contained herein, certain matters discussed
herein are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Any
statements that express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance (often, but not
always, through the use of words or phrases such as will likely result, are
expected to, will continue, is anticipated, estimated, projection, outlook) are
not statements of historical facts and may be forward-looking. Forward-looking
statements involve estimates, assumptions and uncertainties that could cause
actual results to differ materially from those expressed in the forward-looking
statements. These forward-looking statements are based largely on the Company's
expectations and are subject to a number of risks and uncertainties, including
but not limited to, economic, competitive, regulatory, growth strategies,
available financing and other factors discussed elsewhere in this report and in
other documents filed by the Company with the SEC. Many of these factors are
beyond the Company's control. Actual results could differ materially from the
forward-looking statements made. In light of these risks and uncertainties,
there can be no assurance that the results anticipated in the forward-looking
information contained in this report will, in fact, occur.

Any forward-looking statement speaks only as of the date on which such statement
is made, and the Company undertakes no obligation to update any forward-looking
statement or statements to reflect events or circumstances after the date on
which such statement is made or to reflect the occurrence of unanticipated
events, unless necessary to prevent such statements from becoming misleading.
New factors emerge from time to time and it is not possible for management to
predict all of such factors, nor can it assess the impact of each such factor on
the business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any
forward-looking statements.

FINANCIAL CONDITION

         Management has been focusing the Company on an aggressive expansion of
         its Diagnostic business, nuclear medicine and advanced imaging
         services, including the opening of a center featuring the only Positive
         Emission Tomography ("PET") technology in central Ohio. During this
         expansion, the Company's revenues and profitability have been adversely
         affected by the trend in the healthcare industry toward cost
         containment, governmental constraints and reductions in rates which
         have put downward

         (Continued)


                                       16
<PAGE>   17


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

FINANCIAL CONDITION (CONTINUED)

         pressure on revenue. Additionally, the Company's expansion, through a
         minority interest in radiation oncology business, proved to be costly
         both from a cash and profitability perspective. The radiation oncology
         business has been comprised of two centers. One of the centers ceased
         operations June 30, 2000 and the company intends to utilize those
         premises as its new corporate offices; the other center, which is
         adjacent to a hospital, is currently under review for possible sale or
         "turn-key" lease.

         The Company, through a subsidiary, opened in June 1999 it's Women's
         Health Center on Kenny Road. This 7,500 square foot center focuses on
         women's health and imaging services and includes an outpatient surgical
         suite for breast surgery expected to open in fourth quarter 2000.
         Management believes that the new centers, including the Fall 2000
         opening of a Cyclotron center, with a partner, (providing timely
         isotopes for the PET) should produce increased revenues that lead to an
         increase in operating earnings.

         The company sold its remaining nursing home on November 30, 1999.

         Management has considered the need for a valuation (addressing the
         potential realizability), related to the deferred tax assets. As noted
         herein the Company has incurred significant losses and negative cash
         flow. As a significant portion of the deferred tax asset relates to net
         operating loss carryforwards, a valuation allowance was recorded in
         1999 as the realization of the deferred tax assets were not assessed as
         more likely than not. Additionally, management believes that the
         deferred tax liabilities will be recognized and offset by the existing
         deferred tax assets prior to the expiration of the net operating loss
         carryforwards in 2014.

         The Company's continuation as a going concern is dependent upon its
         ability to generate sufficient cash flow to meet its obligations on a
         timely basis, to comply with the terms of its financing agreements, to
         obtain additional financing or refinancing as may be required, and
         ultimately to attain profitability. The Company is also actively
         pursuing additional equity financing through discussions with potential
         business affiliations, vendors and/or customers possessing related
         technological and/or marketing capabilities that can help it develop
         the new markets for its currently available technology as well as its
         new cyclotron venture, with a partner, which opened in the Fall of
         2000.

         Working capital decreased approximately $3,081,000 from a deficit of
         $7,941,000 at December 31, 1999 to a deficit of $11,022,000 at March
         31, 2000. Current assets decreased approximately $176,000 due mostly
         from decreases in cash ($88,000), and accounts receivable trade
         ($124,000) offset by miscellaneous receivable
 (Continued)


                                       17
<PAGE>   18




                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

FINANCIAL CONDITION (CONTINUED)

         increases ($36,000). Current liabilities increased approximately
         ($2,905,000), due primarily to increases in long-term debt
         ($2,250,000), (see Note 2.), accounts payable ($321,000), taxes, other
         than federal income taxes ($318,000) and other accrued liabilities
         ($16,000). Such increases were a result of the expansion of facilities,
         operating losses and the funding of the radiation oncology business
         which is currently under review. Reference should be made to the
         discussion in the first paragraph herein concerning the radiation
         oncology business.

LIQUIDITY AND CAPITAL RESOURCES

         The Company's liquidity remains poor with a working capital deficit of
         $11,022,000 at March 31, 2000. In order to address its liquidity needs
         during the year 2000, the Company has undertaken a program to achieve a
         strategic alliance with a major healthcare provider that would combine
         utilization of its current facilities as well as achieve a customer
         relationship for its new Cyclotron venture open in the Fall of 2000
         (with a partner currently in the business, but not in Central Ohio).
         Additionally, the Company is exploring financing packages that would,
         along with the cooperation or repayment of current bond holders,
         provide working capital funds through the utilization of accounts
         receivable as collateral. Separately, the Company is considering the
         possible sale of certain centers including a "turn-key" sale or lease
         of its remaining radiation oncology facility. Although the Company is
         working to achieve one or more of the aforementioned transactions in
         the near future, there can be no assurance of the success of any of the
         possible transactions.

         Cash decreased approximately $86,000 during the quarter ended March 31,
         2000. Cash flow used in investing activities was approximately $119,000
         as compared to approximately $760,000 provided in the previous year.
         Significant utilization occurred in advances to affiliates, net
         (186,000), and capital expenditures ($48,000), offset by reductions in
         amounts due from related parties and former affiliates ($49,000) and
         proceeds from the disposition of mortgage interest rate hedge
         ($66,000). Net cash of approximately $191,000 was used in financing
         activities. This was achieved primarily through principal payments on
         long-term borrowings ($330,000), offset by proceeds in long-term
         borrowings ($139,000). There was net cash provided by operating
         activities of approximately ($223,000). The net loss of approximately
         $453,000 including discontinued operations of ($53,000) was offset
         primarily by amortization and depreciation ($185,000) and increases to
         accounts payable ($321,000) and accrued expenses ($304,000) and other
         items totaling ($118,000), offset by earnings of unconsolidated
         affiliates ($186,000) and proceeds from the disposition of mortgage
         interest rate hedge ($66,000).

         (Continued)

                                       18
<PAGE>   19



                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)


LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)

         As a result of the June 30, 2000 closing of the radiation oncology
         center operated in the same building as the Diagnostic business which
         includes PET technology, the Company plans to vacate and move its
         corporate offices to such center in the fourth quarter of 2000.

         Management believes that, despite the financial hurdles and funding
         uncertainties going forward, it is exploring various opportunities
         that, if successfully funded and executed, could significantly improve
         operating results, but no assurance can be given. The continued support
         of the Company's vendors, customers, lenders, stockholders and
         employees will continue to be key to the Company's future success.
         Other than as indicated above there are no further material commitments
         for capital expenditures.

YEAR 2000

         A potential problem existed for all companies that relied on computers
         as the year 2000 approached. The "Year 2000" problem is the result of
         the past practice in the computer industry of using two digits rather
         than four to identify the applicable year. The Company addressed its
         Year 2000 compliance needs by implementing a new accounting software
         and other necessary applications. The Company experienced no internal
         problems or problems with third parties in regards to the "Year 2000"
         problem. The Company spent approximately $45,000 on software and
         hardware to ensure Year 2000 compliance.

         The Company's payroll system is currently not Year 2000 compliant.
         Payroll is currently being processed by its previously existing
         software until such time as the payroll system associated to its other
         new software can be implemented (expected to be January 1, 2001). No
         problems have occured as a result of this continuation of the existing
         software.

RESULTS OF OPERATIONS 2000 - 1999

         It should be noted that the following analysis reflects the
         discontinuation of the nursing home operations.

         Service revenues increased $539,000 or 66%, from the comparable period
         in 1999. The service revenues increase is due mostly to: the opening of
         two new diagnostic centers during the prior year, (1998); opening of
         the Women's Health Center in June 1999; and increases to equipment at
         the existing centers.

         (Continued)


                                       19
<PAGE>   20



                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

RESULTS OF OPERATIONS  2000 - 1999 (CONTINUED)

         Equity in earnings (losses) of affiliates increased from a loss of
         $(47,500) in 1999 to a profit of $186,200 in 2000 primarily as a result
         of the pro rata results related to increased revenues ($332,200)
         attributable to additional modalities and procedures performed;
         decreases in depreciation ($49,700) and interest expense ($70,400)
         offset by an increase in rent expense ($71,600), each attributable to
         sales of the respective buildings to a consolidated subsidiary;
         decreased selling, general and administrative expenses ($81,300)
         attributable to cost control measures and the absence of the 1999
         write-off of start-up costs ($427,500) which represented a change in
         accounting principle.

         Other income increased from a loss of $(80,500) in 1999 to a profit of
         $91,900 in 2000 primarily attributable to the 1999 loss on sale of
         marketable securities ($83,700) and the gain on the disposition of the
         mortgage interest rate hedge in 2000 ($66,000).

         Selling, general and administrative expenses increased approximately
         $616,000 or 63% for the quarter ended March 31, 2000 from the
         comparable period in 1999. The increase is mostly due to increases in
         expenses of the new Granville and Jasonway diagnostic centers, the new
         Women's Center. Selling, general and administrative expenses at the new
         centers contribute heavily to the costs during their initial period of
         market development. Such costs have had a significant impact to the
         consolidated results. However, management anticipates each of the
         centers, upon reaching its operating goals, to contribute profits to
         the company's results of operations.

         Interest expense for the quarter ended March 31, 2000 increased
         approximately $76,000 or 38% as compared to the same period a year ago.
         The increase is mostly due to the debt from the mortgages on two
         facilities acquired from non-consolidated affiliates and the interest
         expense on additional equipment at the new diagnostic centers.

                                       20

<PAGE>   21




                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                  ---------------------------------------------
                 FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2000
                 ----------------------------------------------

                            PART II OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

         (a)  Exhibits
                  27       -EDGAR Financial Data Schedule

         (b)  Reports on Form 8-K
                           None




                                  -------------------------------
                                            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.


                  THE WENDT-BRISTOL HEALTH SERVICES CORPORATION
                                  (Registrant)


         November 17, 2000         By:   /S/ MARVIN D. KANTOR
                                         --------------------
                                         Marvin D. Kantor
                                         Chairman and CEO
                                         (Principal Executive Officer)



         November 17, 2000         By:   /S/ SHELDON A. GOLD
                                         -------------------
                                         Sheldon A. Gold
                                         President
                                         (Principal Financial and
                                         Accounting Officer)

                                       21