QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT
                     TO THE 1934 ACT REPORTING REQUIREMENTS

                                   FORM 10-QSB

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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

                  For the quarterly period ended March 31, 2002
                                                 --------------

[   ]    TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
         EXCHANGE ACT

For the transition period from                           to
                               -------------------------    --------------------

Commission file number     0-29363
                      ----------------------------------------------------------

                               The Players Network
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                 Nevada                                      880343702
--------------------------------------------------------------------------------
         (State or other jurisdiction of                 (IRS Employer
         incorporation or organization)                  Identification No.)

(Issuer's telephone number)         (702) 895-8884
                           -----------------------------------------------------

                                 Not Applicable
--------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

         Check whether the issuer (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

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

         Check whether the registrant  filed all documents and reports  required
to be  filed  by  Section  12,  13,  or  15(d) of the  Exchange  Act  after  the
distribution of securities under a plan confirmed by a court. Yes   No

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practicable date: 10,072,445 shares of common
stock, par value $.001 per share as of March 31, 2002.

         Transitional Small Business Disclosure Format (check one):
                                                        Yes [   ]  No [ X ]

<PAGE>



                                TABLE OF CONTENTS

                                                                            Page


PART I - FINANCIAL INFORMATION.................................................1

Item 1.  Financial Statements..................................................1

Item 2.  Management's Discussion and Analysis or Plan of Operation.............7

PART II - OTHER INFORMATION...................................................10

Item 1.  Legal Proceedings....................................................10

Item 2.  Changes in Securities and Use of Proceeds............................10

Item 3.  Defaults Upon Senior Securities......................................10

Item 4.  Submission of Matters to a Vote of Securities Holders................10

Item 5.  Other Information....................................................10

Item 6.  Exhibits and Reports on Form 8-K.....................................10


                                      -i-

<PAGE>


PART I - FINANCIAL INFORMATION









                               THE PLAYERS NETWORK


                         CONDENSED FINANCIAL STATEMENTS


                   Three Months Ended March 31, 2002 and 2001





                                       1


<PAGE>


                               THE PLAYERS NETWORK



                     INDEX TO CONDENSED FINANCIAL STATEMENTS




Condensed Balance Sheet as of March 31, 2002                                   3


Condensed Statement of Operations
   Three Months Ended March 31, 2002 and 2001                                  4


Condensed Statement of Cash Flows
   Three Months Ended March 31, 2002 and 2001                                  5


Notes to Condensed Financial Statements                                        6



                                       2

<PAGE>


                               THE PLAYERS NETWORK
                             CONDENSED BALANCE SHEET
                                   (Unaudited)
                              As of March 31, 2002


ASSETS

Current Assets
  Cash                                                              $       780
  Accounts receivable                                                    80,661
  Other current assets                                                   50,227
                                                                    -----------
         Total Current Assets                                           131,668

Equipment, less accumulated depreciation of $244,345                    356,145
Capitalized video production costs,
  less accumulated amortization of $999,402                             823,245
Capitalized website development costs,
  less accumulated amortization of $163,350                              82,101
Trademarks, less accumulated amortization of $1,828                       7,593
                                                                    -----------
         Total Assets                                               $ 1,400,752
                                                                    ===========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
  Current portion of installment notes payable                      $    46,678
  Demand note payable to stockholders                                   110,765
  Accounts payable                                                      187,887
  Accrued expenses                                                        6,473
  Accrued expenses due to stockholders                                   63,529
  Deferred revenue                                                       36,000
                                                                    -----------
         Total Current Liabilities                                      451,332

Deferred revenue                                                          5,917
Long-term debt, net of current portion                                   66,599
                                                                    -----------
         Total Liabilities                                              523,848
                                                                    -----------

Stockholders' Equity
  Common stock, $.001 par value, 25,000,000 shares
    authorized, 10,072,445 shares issued and outstanding                  9,872
  Paid in capital                                                     6,817,556
  Retained earnings (Deficit)                                        (5,950,524)
                                                                    -----------
         Total Stockholders' Equity                                     876,904
                                                                    -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                          $ 1,400,752
                                                                    ===========



See accompanying notes to financial statements.


                                       3
<PAGE>


                               THE PLAYERS NETWORK
                       CONDENSED STATEMENTS OF OPERATIONS
                                   (Unaudited)




                                                    For the Three Months Ended
                                                             March 31
                                                   -----------------------------
                                                         2002               2001
                                                   ----------       ------------
Revenues
  Network                                         $    90,826       $    36,010
  Advertising                                          10,985            15,921
  Production and other                                 67,448            44,078
                                                  -----------       -----------
         Total Revenues                               169,259            96,009
                                                  -----------       -----------

Video production costs                                 11,000
Selling expenses                                       57,160            12,175
General and administrative                            124,913           185,549
Depreciation and amortization                         131,644           119,976
Interest                                                8,576             8,490
                                                  -----------       -----------

         NET LOSS                                 $  (164,034)      $  (230,181)
                                                  ===========       ===========


Basic and diluted loss per common share           $      (.02)      $      (.02)
Weighted average shares outstanding                 9,811,645         9,356,445






See accompanying notes to financial statements.



                                       4




<PAGE>


                               THE PLAYERS NETWORK
                        CONDENSED STATEMENTS OF CASH FLOW
                                   (Unaudited)




                                                     For the Three Months Ended
                                                              March 31
                                                     ---------------------------
                                                           2002            2001
                                                       ---------      ----------
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss                                            $(164,034)      $(230,181)
  Adjustments to reconcile net income to net
    cash provided by operating activities:
    Stock issued for services                            45,601           5,837
    Depreciation and amortization                       131,644         119,976
    Net change in barter credits receivable              50,323         (17,990)
  Change in cash from:
    Accounts receivable                                 (70,936)         14,000
    Other current assets                                  3,221         (12,775)
    Accounts payable                                     45,860            (315)
    Accrued expenses                                    (25,664)         19,002
    Deferred revenue                                    (12,485)
                                                      ---------       ---------
         NET CASH FROM OPERATING ACTIVITIES               3,530        (102,446)
                                                      ---------       ---------

CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of equipment                                 (11,183)        (34,775)


CASH FLOWS FROM FINANCING ACTIVITIES
  Stock issued for cash                                                 100,000
  Advances by (repayments to) stockholder                20,000
  Principal payments on installment loans               (40,782)        (10,307)
                                                      ---------       ---------
         NET CASH FROM FINANCING ACTIVITIES             (20,782)         89,693
                                                      ---------       ---------

NET CHANGE IN CASH                                      (28,435)        (47,528)

CASH ON HAND - beginning of year                         29,215          71,885
                                                      ---------       ---------

                     - end of period                  $     780       $  24,357
                                                      =========       =========



See accompanying notes to financial statements.



                                       5
<PAGE>


                               THE PLAYERS NETWORK
                     NOTES TO CONDENSED FINANCIAL STATEMENTS


NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying  unaudited interim financial statements of Players Network have
been prepared in accordance with accounting principles generally accepted in the
United States of America and the rules of the Securities and Exchange Commission
("SEC"), and should be read in conjunction with the audited financial statements
and notes thereto included in the Company's annual report on Form 10-KSB for the
year ended  December 31, 2001. In the opinion of  management,  all  adjustments,
consisting of normal recurring adjustments, necessary for a fair presentation of
financial  position  and the  results  of  operations  for the  interim  periods
presented have been reflected herein.  The results of operations for the interim
period are not necessarily indicative of the results to be expected for the full
year. Notes to the financial statements which would substantially  duplicate the
disclosure  contained in the 2001 audited financial  statements,  as reported in
the 10-KSB, have been omitted.


NOTE 2 - NEW PRONOUNCEMENT

In June 2001, the Financial  Accounting Standards Board issued FAS 142, Goodwill
and Other Intangible Assets.  Under FAS 142, goodwill and intangible assets with
indefinite  lives are no longer amortized but are reviewed at least annually for
impairment.  The  amortization  provisions  of FAS 142  apply  to  goodwill  and
intangible assets acquired after June 30, 2001.  Changes in the estimated useful
lives of  intangible  assets are not expected to result in a material  effect on
net income in 2002. As of March 31, 2002,  Players had  intangibles of $912,450.
Pursuant to FAS 142,  Players  will test its  intangibles  for  impairment  upon
adoption and, if impairment is indicated, record such impairment as a cumulative
effect of an  accounting  change.  Management  believes  that no  impairment  is
indicated for the period ended March 31, 2002.



                                       6
<PAGE>




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


            MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION


Overview
--------

         The Company provides television programming and produces videos related
to gaming  instruction  and  information  for hotel  casinos on a private  cable
channel  known as "PLAYERS  NETWORK." The Company also has a working sound stage
in Las  Vegas  that it uses  for  video  production  and also  rents to  various
production companies.

         The Company adopted revenue  recognition  policies to comply fully with
the guidance in Staff  Accounting  Bulletin  No. 101,  "Revenue  Recognition  in
Financial  Statements."  Network revenue  consists of initial,  subscription and
renewal revenues.  Network revenue includes  nonrefundable fees paid in advance,
which is recognized on a straight-line basis over the contractual term. Deferred
initial and subscription  fees were $42,000 for the three months ended March 31,
2002, of which $36,000 was current.  There was no deferred revenue for the three
months  ended  March  31,  2001.   Advertising   revenue  is   recognized   when
advertisements  are  aired.  Production  and  other  revenues  consist  of video
production,   stage  rentals  and  other   production-related   revenues.  Video
production revenue is recognized when video production is completed and accepted
by the  customer.  The stage rental and other  production  revenue is recognized
when the stage rental period has expired.

         Since June 1999,  the Company has  pursued an  Internet  and  broadband
strategy. The web site "PLAYERSNETWORK.COM"  provides consumers with gaming "How
to Play" information in print form and video from the Company's existing library
of instructional gaming videos. The web site also provides information on almost
every  casino/gaming  site worldwide.  In addition,  the site provides financial
reports on casino and gaming company  stocks.  The website is syndicated as part
of the BT openworld network.

         The Company is establishing itself as digital web broadcaster of gaming
related content.

         The Company  had  accumulated  operating  deficits  of  $5,950,524  and
$5,514,049 as of March 31, 2002 and 2001, respectively. However, the Company had
stockholders'  equity of $876,904 and  $1,244,450 as of March 31, 2002 and 2001,
respectively.

         The Company expects operating losses and negative  operating cash flows
to  continue  for at least the next  twelve  months.  It  anticipates  losses to
continue  because  it expects  additional  costs and  expenses  related to brand
development;  marketing and other promotional activities;  hiring of management,
sales and other personnel;  the expansion of infrastructure and customer support
services;  strategic  relationship  development;  and potential  acquisitions of
related complementary businesses.



                                       7
<PAGE>



Liquidity and Capital Resources
-------------------------------

         The Company's  principal source of operating  capital has been provided
by private sales of the Company's  common stock,  stockholder loan and equipment
financing  arrangements,  as well as revenues from the operations.  At March 31,
2002,  the Company had working  capital  deficiency of  approximately  $320,000.
However,  $36,000 are deferred  revenues  from its in-room  television  network,
$110,000 are convertible shareholder notes and $64,000 is unpaid compensation to
officers and directors.

         In earlier  periods,  the Company had issued a combination  of cash and
common  stock  and/or  stock  options  in  lieu  of  cash  to  vendors,  outside
consultants for services,  asset acquisitions and payment of debts. The Board of
Directors  has asked the  Company  to reduce its  reliance  on the  issuance  of
securities for this purpose. The Company issued $45,600 in stock and options for
this purpose for the three months ended March 31, 2002 compared to $5,800 in the
three months ended March 31, 2001.

         As part  of the  Company's  media  business,  the  Company  expects  to
continue  to  enter  into  some  barter  arrangements.  As  a  result  of  these
transactions, the Company recognized approximately $12,500 and $16,000 in barter
revenue,  $3,500 and $10,000 in advertising  expenses,  and $3,000 and $1,500 in
travel   expenses   for  the  three  months  ended  March  31,  2002  and  2001,
respectively.

         Although the Company has experienced a revenue growth,  this may not be
indicative  of future  operating  results and there can be no assurance  that it
will  achieve or  maintain  profitability.  Due to these  factors,  the  Company
believes that period-to-period  comparisons of its results of operations are not
necessarily a good indication of future  performance.  The results of operations
in some future periods may be below the expectations of analysts and investors.

         The Company anticipates capital  expenditures of less than $250,000 for
its  operation of  PLAYERSNETWORK.COM,  web  broadcasting  activities  and video
production during the next twelve months.  The Company believes that the current
cash  flows  generated  from  its  revenues  may not be  sufficient  to fund its
anticipated  operations.  The Company will require additional funding to finance
its  operations  through  private  sales and  public  debt or equity  offerings.
However,  there is no  assurance  that such  financing  can be  obtained  by the
Company.

         At March 31, 2001, the Company had five full-time employees.




Recent Events
-------------

         In May 2002,  the Company signed an agreement with a casino hotel chain
to supply the Company's  in-room cable channel for its hotel.  In addition,  the
agreement  calls for syndicating the Company's video for its corporate web site,
creating  customized  production and content for its in-room cable channel.  The
contract value over the 24 month life is approximately $130,000.

         In   2001,    the   Company    signed   an   agreement   with   British
Telecommunications  PLC ("BT"), located in the United Kingdom ("UK"), to produce
a  UK  version  of  PLAYERSNETWORK.COM,   offering  BT  "openworld"  subscribers
high-speed,  broadband


                                       8

<PAGE>

access  to  the  Company's  gaming-related  content.  BT  "open  world"  and  BT
"Internet" combined currently serve over 1.2 million subscribers in the UK. That
site became  operational in August 2001. No revenues have been  recognized  from
this activity to date.

         With existing  business and new  agreements in hand, the Company should
exceed the revenue of the prior year.



Results of Operations - Three Months Ended March 31, 2002 and 2001
------------------------------------------------------------------

         Revenues  increased  76% from  $96,000 for the three months ended March
31, 2001 to $169,000 for the three  months  ended March 31, 2002.  For the three
months ended March 31, 2002, the Company had $91,000 in Network Revenue, $11,000
in Advertising Revenue and $67,000 in Production and Other Revenue,  compared to
$36,000 in  Network  Revenue,  $16,000 in  Advertising  Revenue  and  $44,000 in
Production  and  Other  Revenue  for the three  months  ended  March  31,  2001.
Revenues,  from  bartering  advertising  spots in exchange for  magazine  travel
expenses,  decreased  from  approximately  $16,000 during the three months ended
March 31, 2001 to $12,500 during the three months ended March 31, 2002.

         Selling and administrative  expenses decreased 9% from $198,000 for the
three  months  ended March 31, 2001 to $181,000 for the three months ended March
31, 2002. The decrease in selling,  general and administrative expenses, was due
to decreases in payroll  expenses  from  $97,500 to $49,500,  while  advertising
expense  increased  from  $13,750 to $56,500  due to the write off of $54,000 in
barter advertising credits.  Certain expenses,  primarily consulting,  were paid
with common  stock of $0 and $11,250 for the three  months  ended March 31, 2001
and March 31, 2002, respectively.

         Stock-based  compensation  charged to  operations  was $0 for the three
months ended March 31, 2002  compared to $5,800 for the three months ended March
31, 2001.  Stock-based  compensation  consists of warrants and options issued to
outside service providers in lieu of cash.

         Depreciation and amortization increased 10% from $120,000 for the three
months  ended March 31, 2001 to $132,000  for the three  months  ended March 31,
2002.

         Interest  expense  increased 1%, from $8,500 for the three months ended
March 31, 2001 to $8,600 for the three months ended March 31, 2002.

Inflation
---------

         In the opinion of management,  inflation has not had a material  effect
on the operations of the Company.


Risk Factors and Cautionary Statements
--------------------------------------

         Forward-looking  statements  in this  report are made  pursuant  to the
"safe harbor"  provisions  of the Private  Securities  Litigation  Reform Act of
1995.  The  Company  wishes to advise  readers  that  actual  results may differ
substantially from such forward-looking  statements.  Forward-looking statements
involve  risks and  uncertainties  that  could  cause  actual  results to differ


                                       9
<PAGE>

materially from those expressed in or implied by the statements,  including, but
not limited to, the  following:  the ability of the Company to meet its cash and
working  capital needs,  the ability of the Company to  successfully  market its
product,  and other risks detailed in the Company's periodic report filings with
the Securities and Exchange Commission.


PART II - OTHER INFORMATION

Item 1.    Legal Proceedings

         None.

Item 2.  Changes in Securities and Use of Proceeds

         On January 18,  2002,  the Company  sold  304,000  shares of its common
stock,  par value  $0.001  per share  ("Common  Stock") to  fourteen  directors,
employees and  consultants  of the Company in exchange for services  rendered to
the Company valued at $45,600 in the aggregate. The Company issued the shares of
Common Stock without  registration under the Securities Act of 1933, as amended,
in reliance on the  exemption  provided by Section  4(2) of that Act and without
the use of underwriters.

Item 3.  Defaults Upon Senior Securities

         None.

Item 4.  Submission of Matters to a Vote of Securities Holders

         None.

Item 5.  Other Information

         None.

Item 6.  Exhibits and Reports on Form 8-K

(A)      EXHIBITS

Exhibit Number
Page No.                  Title of Exhibit
--------                  ----------------

(3)(i)                    Articles of Incorporation of The Players Network (1)

(3)(ii)                   Bylaws of The Players Network (1)

(10)(i)                   Sublease Agreement between  The  Players  Network  and
                          Colella Productions, Inc. (1)

(10)(ii)                  Agreement (1)

(10)(iii)                 Master Services Agreement (2)



                                       10

<PAGE>


(1)  Incorporated  by  reference  to the  exhibits  filed with the  Registration
Statement on Form 10-SB, File No. 0-29363.

(2) Incorporated by reference to the exhibits filed with the Quarterly Report on
Form 10-QSB for the quarterly period ended June 30, 2001, File No. 0-29363.



(B)      REPORTS ON FORM 8-K

         The Company filed a report on Form 8-K with the Securities and Exchange
Commission  on January  31,  2002,  announcing  that the Company  dismissed  its
principal  accountant,  Friedman,  Alpren & Green, in a letter dated January 17,
2002. The Corporation's new principal accountant, Malone & Bailey, Inc. (located
at 5444  Westheimer  Road,  Suite  2080,  Houston,  Texas,  77056) was  retained
effective January 16, 2002.







                                       11
<PAGE>




                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


Dated: May 15, 2002

                                    The Players Network


                                    By:     /s/ Mark Bradley
                                          ------------------------
                                          Mark Bradley
                                          Its: Chief Executive Officer





                                       12