SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

             [ X ] Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934
                  for the Quarterly Period Ended June 30, 2000

                                       OR

             [ ] Transition Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934
        for the Transition Period from ............... to ...............

                         Commission File Number 0-19407

                         LASER-PACIFIC MEDIA CORPORATION
             (Exact name of registrant as specified in its charter)

             Delaware                                   95-3824617
     (State or other jurisdiction of                 (I.R.S. Employer
      incorporation or organization)                Identification No.)

                              809 N. Cahuenga Blvd.
                           Hollywood, California 90038
                                 (323) 462-6266
               (Address, including zip code and telephone number,
              including area code of principal executive offices)

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

The number of shares  outstanding of each of the registrant's  classes of common
stock,  as of July 31, 2000 was  7,721,293  shares of Common  Stock,  $.0001 par
value.


<PAGE>


                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES

                                Table of Contents

Part I.        Financial Information                                      Page
                                                                         -----

Item 1.        Condensed Consolidated Financial Statements                   3

               Condensed Consolidated Balance Sheets                         3
               Condensed Consolidated Statements of Operations               4
               Condensed Consolidated Statements of Cash Flows               5
               Notes to Condensed Consolidated Financial Statements          6

Item 2.        Management's Discussion and Analysis of Financial Condition

               and Results of Operations                                     7

Item 3.        Quantitative and Qualitative Disclosures about Market Risk    9

Part II.       Other Information

Item 4.        Submission of Matters to a Vote of Security Holders           9

Item 6.        Exhibits and Reports on Form 8-K                              9

               Signatures                                                    10



<PAGE>


Part I.  Financial Information

Item 1.  Condensed Consolidated Financial Statements

                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                      Condensed Consolidated Balance Sheets
<TABLE>
<CAPTION>

                                                                                     (Unaudited)         (Audited)

                                                                                      June 30,         December 31,
                                                                                        2000               1999
                                                                                   ---------------    ----------------
<S>                                                                                    <C>                  <C>
Assets

Current Assets:
  Cash and cash equivalents                                                     $       4,718,080  $        2,398,407
  Receivables net of allowance for doubtful accounts                                    2,348,604           5,139,663
  Other current assets                                                                  1,149,149           1,211,279
                                                                                   ---------------    ----------------

    Total Current Assets                                                                8,215,833           8,749,349

Net property  and equipment                                                            18,877,856          20,333,846
Other assets                                                                              421,509             414,115
                                                                                   ---------------    ----------------
 Total Assets                                                                   $      27,515,198  $       29,497,310
                                                                                   ===============    ================

Liabilities and Stockholders' Equity

Current Liabilities:
  Current installments of notes payable to bank and long-term debt              $       3,585,493  $        3,718,270
  Other current liabilities                                                             1,389,669           1,800,035
                                                                                   ---------------    ----------------
   Total Current Liabilities                                                            4,975,162           5,518,305

Notes payable to bank and long-term debt, less current installments                     8,321,258          10,303,320

Stockholders' Equity:
   Common stock, $.0001 par value.  Authorized 25,000,000 shares; issued
   and outstanding 7,721,293 shares at June 30, 2000 and 7,654,646
   at December 31, 1999.                                                                      772                 765
Additional paid-in capital                                                             19,921,159          19,919,956
Accumulated deficit                                                                   (5,703,153)         (6,245,036)
                                                                                   ---------------    ----------------

 Net stockholders' equity                                                              14,218,778          13,675,685
                                                                                   ---------------    ----------------

Total Liabilities and Stockholders' Equity                                      $      27,515,198  $       29,497,310
                                                                                   ===============    ================

</TABLE>





See accompanying notes to the condensed consolidated financial statements.


<PAGE>


                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                  Three Months Ended                     Six Months Ended
                                                                       June 30,                              June 30,
                                                           ----------------------------------     --------------------------------
                                                                2000               1999               2000              1999
                                                           ---------------    ---------------     --------------    --------------
<S>                                                             <C>                <C>               <C>               <C>

Revenues                                                $       5,858,496          5,594,118  $      15,104,235        13,535,727

Operating costs

     Direct costs                                               4,411,294          4,212,592          9,762,725         8,935,238
     Depreciation and amortization                              1,009,780            713,511          1,948,892         1,407,554
                                                           ---------------    ---------------     --------------    --------------
      Total operating costs                                     5,421,074          4,926,103         11,711,617        10,342,792
                                                           ---------------    ---------------     --------------    --------------
      Gross profit                                                437,422            668,015          3,392,618         3,192,935
Selling, general and administrative
    and other expenses                                          1,113,928          1,054,051          2,263,493         2,111,928
                                                           ---------------    ---------------     --------------    --------------
      Income (loss) from operations                             (676,506)          (386,036)          1,129,125         1,081,007

Interest expense                                                  346,631            282,730            691,630           583,014
Other income                                                     (63,371)           (34,353)          (130,288)          (57,829)
                                                           ---------------    ---------------     --------------    --------------
      Income (loss) before income taxes                         (959,766)          (634,413)            567,783           555,822

Income taxes (benefit)                                           (50,500)           (20,200)             25,900            14,700
                                                           ---------------    ---------------     --------------    --------------
      Net income (loss)                                 $       (909,266)          (614,213)  $         541,883           541,122
                                                           ===============    ===============     ==============    ==============


Income (loss) per share (basic)                         $          (0.12)             (0.08)  $            0.07              0.07
                                                           ---------------    ---------------     --------------    --------------

Income (loss) per share (diluted)                       $          (0.12)             (0.08)  $            0.07              0.07
                                                           ---------------    ---------------     --------------    --------------

Weighted average shares outstanding (basic)                     7,721,193          7,414,670          7,720,093         7,344,706
                                                           ===============    ===============     ==============    ==============

Weighted average shares outstanding (diluted)                   7,721,193          7,414,670          8,107,291         7,779,453
                                                           ===============    ===============     ==============    ==============

</TABLE>














See accompanying notes to condensed consolidated financial statements.


<PAGE>


                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                                                 Six Months Ended
                                                                                                     June 30,
                                                                                         ---------------------------------
                                                                                              2000              1999
                                                                                         ---------------    --------------
<S>                                                                                         <C>                <C>
    Cash flows from operating activities
      Net income                                                                      $         541,883  $        541,122
      Adjustments to reconcile net income to net cash
        provided by operating activities:
           Depreciation and amortization                                                      1,948,892         1,407,554
           Gain on sale of property and equipment                                              (31,700)           (2,500)
           Provision for doubtful accounts receivable                                           112,935           134,678
           Change in assets and liabilities:
                 Receivables                                                                  2,678,125         1,580,793
                 Other current assets                                                            62,130            30,669
                 Other current liabilities                                                    (410,366)          (12,805)
                 Other                                                                          (6,987)         (187,161)
                                                                                         ---------------    --------------
                     Net cash provided by operating activities                                4,894,912         3,492,350

    Cash flows from investing activities:

           Purchases of property and equipment                                                (637,103)       (2,064,553)
           Net proceeds from disposal of property and equipment                                 175,493             2,500
                                                                                         ---------------    --------------
                     Net cash used in investing activities                                    (461,610)       (2,062,053)

    Cash flows from financing activities:

           Net (repayment of) proceeds from notes payable to bank and long-term debt        (2,114,839)           385,047
           Proceeds from issuance of common stock                                                 1,210            35,530
                                                                                         ---------------    --------------
                     Net cash (used in) provided by financing activities                    (2,113,629)           420,577

                     Net increase in cash and cash equivalents                                2,319,673         1,850,874
    Cash and cash equivalents at beginning of period                                          2,398,407         1,159,206
                                                                                         ---------------    --------------
    Cash and cash equivalents at end of period                                        $       4,718,080  $      3,010,080
                                                                                         ===============    ==============
</TABLE>
















See accompanying notes to condensed consolidated financial statements.
<PAGE>

                         LASER-PACIFIC MEDIA CORPORATION
                                AND SUBSIDIARIES
              Notes to Condensed Consolidated Financial Statements
                                   (Unaudited)

(1)      Basis of Presentation

         In the opinion of  management,  the  accompanying  unaudited  condensed
financial  statements  contain all adjustments  (consisting of normal  recurring
items) necessary to present fairly the financial position of Laser-Pacific Media
Corporation  ("the  Company")  and its  subsidiaries  as of June  30,  2000  and
December 31, 1999; the results of operations for the three and six month periods
ended June 30, 2000 and 1999; and the statements of cash flows for the six month
periods ended June 30, 2000 and 1999.  The Company's  business is subject to the
prime time television industry's typical seasonality. Historically, revenues and
income from operations  have been highest during the first and fourth  quarters,
when production of television  programs and demand for the Company's services is
at its  highest.  The net income or loss of any  interim  quarter is  seasonally
disproportionate  to  revenues  because  selling,   general  and  administrative
expenses and certain operating  expenses remain  relatively  constant during the
year.  Therefore,  interim  results are not indicative of results to be expected
for the entire fiscal year.

         In  accordance  with the  directives  of the  Securities  and  Exchange
Commission  under Rule 10-01 of Regulation  S-X, the  accompanying  consolidated
financial  statements  and  footnotes  have been  condensed  and do not  contain
certain  information  included in the Company's  annual  consolidated  financial
statements and notes thereto.

(2)       Income per Share

         Net income  per basic and  diluted  shares are based upon the  weighted
average number of common shares outstanding.  Basic income per share is computed
as  net  income  divided  by  the  weighted-average   number  of  common  shares
outstanding for the period.  Diluted shares outstanding  represents the total of
common  shares  outstanding  as well as those  options  and  warrants  where the
exercise price was below the average  closing stock price,  during the three and
six month  periods  ended  June 30,  2000 and  1999.  Diluted  income  per share
reflects the potential  dilution  that could occur from common  shares  issuable
through stock-based compensation plans including stock options, restricted stock
awards,  warrants and other  convertible  securities  using the  treasury  stock
method.  The following  summarizes the computation of basic income per share and
diluted income per share:
<TABLE>
<CAPTION>

                                                                      Three Months Ended                  Six Months Ended
                                                                           June 30,                           June 30,
                                                                 ------------------------------    -------------------------------
                                                                     2000             1999             2000              1999
                                                                 -------------     ------------    -------------     -------------
<S>                                                                 <C>              <C>              <C>               <C>

Net Income (Loss)                                             $     (909,266)        (614,213)  $       541,883           541,122
                                                                 =============     ============    =============     =============

Shares:
Weighted Average Common Shares                                      7,721,193        7,414,670        7,720,093         7,344,706
Dilutive Stock Options and Warrants                                       ---              ---          387,198           434,747
                                                                 -------------     ------------    -------------     -------------
Dilutive Potential Common Shares                                    7,721,193        7,414,670        8,107,291         7,779,453
                                                                 =============     ============    =============     =============

Income Per Share:
Basic                                                         $        (0.12)           (0.08)  $          0.07              0.07
Diluted                                                       $        (0.12)           (0.08)  $          0.07              0.07
</TABLE>

(3)      Income Taxes

         For the six months ended June 30, 2000,  federal  income tax expense of
$9,300  and state  income  tax  expense  of  $16,600  was  recognized  after the
application of net operating loss carry forwards. Income tax expense for the six
months ended June 30, 2000 was computed  using the estimated  effective tax rate
to apply for all of 2000  after  considering  the impact of net  operating  loss
carry  forwards  and tax  credits.  The rate is subject  to  ongoing  review and
evaluation by management.
<PAGE>

Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations

         Statements  included  within this  document,  other than  statements of
historical  facts,  that address  activities,  events or  developments  that the
Company expects or anticipates  will or may occur in the future,  including such
things as business  strategy  and measures to  implement  strategy,  competitive
strengths, goals, expansion and growth of the Company's business and operations,
plans,  references to future success and other such matters, are forward-looking
statements  within the meaning of Section 27A of the  Securities Act of 1933, as
amended and Section 21E of the  Securities and Exchange Act of 1934, as amended,
and fall under the safe  harbor.  The  forward-looking  statements  are based on
certain  assumptions and analyses made by the Company in light of its experience
and its perception of historical trends,  current conditions and expected future
developments  as well as  other  factors  it  believes  are  appropriate  in the
circumstances.  However,  actual  results and  financial  position  could differ
materially  in scope and nature from those  anticipated  in the forward  looking
statements as a result of a number of factors, including but not limited to, the
Company's ability to successfully expand capacity,  general economic,  market or
business  conditions;  the opportunities (or lack thereof) that may be presented
to and pursued by the Company;  competitive actions by other companies;  changes
in laws or regulations;  investments in new technologies;  continuation of sales
levels;  the risks related to the cost and  availability  of capital;  and other
factors, many of which are beyond the control of the Company.  Consequently, all
of the  forward-looking  statements  made in this report are  qualified by these
cautionary  statements  and there can be no assurance that the actual results or
developments   anticipated   by  the  Company  will  be  realized  or,  even  if
substantially  realized,  that they will have the  expected  consequences  to or
effects  on the  Company  or its  business  operations.  Readers  are  urged  to
carefully  review and consider  various  disclosures  made by the Company in its
filings with the Securities and Exchange Commission to advise interested parties
of certain risks and other  factors that may affect the  Company's  business and
operating results.

Results of Operations

         Revenues  for  the  six  months  ended  June  30,  2000   increased  to
$15,104,000  from  $13,536,000  for the same  year-ago  period,  an  increase of
$1,568,000  or 11.6%.  Revenues  from  post-production  services  related to the
Company's core business on episodic television shows increased  $1,682,000.  The
increase in revenues from the Company's post-production services is attributable
to increased demand for the Company's services, including a significant increase
in demand for high definition services. The increase was offset by a decrease in
revenues of $412,000 in digital compression  services and a decrease in revenues
of $405,000 in graphic  services.  The  decrease  in revenues  from  compression
services  is the  result  of  decreased  demand  for Divx  compression  and MPEG
compression for airlines.  The decrease in revenues from graphic services is due
to decreased  demand for certain types of graphic  services and the reduction of
services provided.

         Revenues for the quarter  ended June 30, 2000  increased to  $5,858,000
from $5,594,000 for the same year-ago  period,  an increase of $264,000 or 4.7%.
Revenues from post-production services related to the Company's core business on
episodic  television  shows  increased  $259,000.  The increase in the Company's
post-production  services is attributable to increased  demand for the Company's
services,  including  a  significant  increase  in  demand  for high  definition
services.  The increase was offset by decreased  revenue from the  following:  a
decrease in revenues of $321,000 in digital compression  services and a decrease
in revenues of $219,000 in graphic services.

         Operating costs for the six months ended June 30, 2000 were $11,712,000
versus  $10,343,000 for the year-ago period, an increase of $1,369,000 or 13.2%.
The increase in operating  costs is primarily the result of an increase in labor
cost of  $740,000,  an increase in  depreciation  of $541,000 and an increase in
rawstock cost of $206,000.  The increase in operating costs was partially offset
by decreases in other operating costs.  Higher labor costs were the result of an
increased  number of employees and more hours  worked,  as a result of increased
sales.  The  increase  in  depreciation  is due to  expansion  of the  Company's
capacity,  especially high definition  services during 1999. The higher rawstock
costs  resulted  from  increased  sales.   Total  operating   costs,   including
depreciation, as a percentage of revenues for the six months ended June 30, 2000
were 77.5% compared with 76.4% for the same year-ago period.
<PAGE>
         Operating  costs for the quarter  ended June 30,  2000 were  $5,421,000
versus $4,926,000 for the year-ago period, an increase of $495,000 or 10.0%. The
increase  in  operating  costs was the result of an  increase  in labor costs of
$215,000 and an increase in  depreciation  of $296,000.  Higher labor costs were
the result of an  increased  number of  employees  and more hours  worked,  as a
result of increased  sales.  The increase in depreciation is due to expansion of
the Company's  capacity,  especially high definition services during 1999. Total
operating  costs,  including  depreciation,  as a percentage of revenues for the
three  months  ended June 30, 2000 were 92.5%  compared  with 88.1% for the same
year-ago period.

         For the six months  ended June 30, 2000,  the Company  recorded a gross
profit of $3,393,000  compared with $3,193,000 for the same year-ago period,  an
increase of $200,000 or 6.3%.  The increase in gross profit is the result of the
increase in revenues, discussed above.

         For the quarter ended June 30, 2000 the Company recorded a gross profit
of $437,000 compared to a gross profit of $668,000 for the same year-ago period,
a decrease of $231,000 or 34.5%.  The  decrease in gross profit is the result of
increased operating costs, explained above.

         Selling,  general  and  administrative  ("SG&A")  expenses  for the six
months ended June 30, 2000 was $2,263,000 compared to $2,112,000 during the same
year-ago period, an increase of $151,000 or 7.2%. The most significant  increase
in SG&A  was  labor  cost.  The  increase  in  labor  cost is due to  additional
employees and compensation increases.

         SG&A for the  quarter  ended June 30, 2000 was  $1,114,000  compared to
$1,054,000  during the same year-ago period, an increase of $60,000 or 5.7%. The
most significant  increase in SG&A was labor cost. The increase in labor cost is
due to additional employees and compensation increases.

         Interest  expense for the six months  ended June 30, 2000 was  $692,000
compared to $583,000 for the same  year-ago  period,  an increase of $109,000 or
18.6%. The increase in interest expense is a result of increased  borrowings for
equipment purchases in prior years.

         Interest  expense  for the  quarter  ended June 30,  2000 was  $347,000
compared to $283,000  for the same  year-ago  period,  an increase of $64,000 or
22.6%. The increase in interest expense is a result of increased  borrowings for
equipment purchases in prior years.

         Other  income  for the six  months  ended  June 30,  2000 was  $130,000
compared  to $58,000  for the same  year-ago  period,  an increase of $72,000 or
125.3%.  Other income is primarily interest income. The increase in other income
is the result of higher cash balances and an increase in interest rates.

          Other income for the quarter ended June 30, 2000 was $63,000  compared
to $34,000 for the same year-ago period, an increase of $29,000 or 84.5%.  Other
income is primarily  interest income. The increase in other income is the result
of higher cash balances and an increase in interest rates.

Liquidity and Capital Resources

     During the quarter  ended June 30, 2000 the  Company  entered  into a joint
venture  with Joe  Matza,  President  of Las Palmas  Productions,  forming a new
company,  Composite  Image  Systems,  LLC. This new entity will provide  digital
visual  effects and graphic  services to the motion  picture film and television
industry. In addition to sharing equipment,  personnel,  technical expertise and
industry  knowledge the Company has certain  financial  commitments to the joint
venture.  The Company has agreed to provide working capital to the joint venture
as needed up to $500,000 and to either  lease the entity  equipment or guarantee
the financing of equipment purchases up to $865,000. The agreement also provides
that the Company will receive preferred  distributions until the working capital
the Company contributed is repaid.
<PAGE>

         The Company and its  subsidiaries  are operating under a loan agreement
with The CIT  Group/Credit  Finance,  which has been  amended and  extended,  to
August 3, 2001.  The maximum  credit  under the  agreement  is $9  million.  The
amended loan  agreement  provides for borrowings of up to $5.4 million under the
term loan  (limited to 100% of eligible  equipment at appraisal  value) and $3.6
million  under  the  revolving  loan  (limited  to  85%  of  eligible   accounts
receivable). The outstanding balance of the term loan was $2,265,000 at June 30,
2000.  It is payable in monthly  installments  of $81,000 plus interest at prime
plus 1.0% amortizing through August 3, 2003. Principal payments are not required
in June, July or August. The revolving loan had an outstanding  balance of $0 at
June 30, 2000. The revolving  loan bears  interest at prime plus 1.0%,  which is
payable monthly.  The loan agreement  contains  automatic renewal provisions for
successive terms of two years thereafter  unless terminated as of August 3, 2001
or as of the end of any renewal  term by either  party by giving the other party
at least 60 day written notice.

         During the year ended  December  31,  1999,  the Company  entered  into
capital lease  obligations of  approximately  $7,000,000 with various lenders in
connection with the  acquisition of equipment.  The capital leases are for terms
of up to 60  months,  at  fixed  interest  rates  ranging  from  8% to  9%.  The
obligations  are secured by the equipment  that was financed.  The equipment was
acquired to expand the  Company's  capabilities  and to support  the  increasing
demand for the  Company's  services.  Projected  cash flow and  existing  credit
arrangements are adequate to fund additional purchases and commitments.

          The  Company's   principal  source  of  funds  is  cash  generated  by
operations  and  traditional   financing.   On  an  annual  basis,  the  Company
anticipates  that  existing  cash  balances,  availability  under  existing loan
agreements  and cash  generated  from  operations  will be sufficient to service
existing debt and to meet the Company's capital requirements for fiscal 2000.

Seasonality and Variation of Quarterly Results

           The Company's business is subject to substantial quarterly variations
as a result of  seasonality,  which  the  Company  believes  is  typical  of the
television post-production industry. Historically,  revenues and net income have
been  highest  during  the first and fourth  quarters,  when the  production  of
television programs and consequently the demand for the Company's services is at
its highest.  Revenues have been substantially lower during the second and third
quarters, when the Company historically has incurred operating losses.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk

         Derivative  Instruments.  The Company  does not  invest,  and during
the six months  ended June 30,  2000 did not  invest,  in market risk sensitive
instruments.

         Market  Risk.  The  Company's  market  risk  exposure  with  respect to
financial  instruments  is to changes in the "prime rate" in the United  States.
The  Company had  borrowings  of  $2,265,000  at June 30, 2000 under a term loan
(discussed  below) and may borrow up to $3.6  million  under a  revolving  loan.
Amounts  outstanding  under the term loan and  revolving  credit  facility  bear
interest at the bank's prime rate plus 1%.

Part II.  Other Information

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

         At the Company's Annual Meeting of Shareholders  held on June 28, 2000,
the following  individuals were elected to the Board of Directors with each such
individual  receiving  6,897,267  votes in favor of his election to the Board of
Directors. The number of votes withheld for each director was 20,440.

                      Emory M. Cohen
                      Thomas D. Gordon
                      Craig A. Jacobson
                      James R. Parks

Item 6.  Exhibits and Reports on Form 8-K

(a)      Exhibits
         27.1 Financial Data Schedule

(b)      Reports on Form 8-K
         None.



<PAGE>



                                   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.


                               LASER-PACIFIC MEDIA CORPORATION
                                   (Registrant)




 Dated:  August 7, 2000        /s/James R. Parks
                               -----------------
                                  James R. Parks
                                  Chief Executive Officer



 Dated:  August 7, 2000        /s/Robert McClain
                               -----------------
                                  Robert McClain
                                  Chief Financial Officer
                                  (Principal Financial and Accounting Officer)