<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                          AMENDMENT NO. 1 TO FORM 10-K

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

                [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                                     OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                     FOR THE FISCAL YEAR ENDED JUNE 30, 1999

          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OF 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                         Commission file number 0-11616

                        FRANKLIN TELECOMMUNICATIONS CORP.
              -----------------------------------------------------
              (Exact Name of Registrant as Specified in its Charter

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

         California                                      95-3733534
-------------------------------                      -------------------
(State or other jurisdiction of                        (I.R.S.Employer
 incorporation or organization)                      Identification No.)


             733 Lakefield Road, Westlake Village, California 91361
             ------------------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)

       Registrant's Telephone Number, Including Area Code: (805) 373-8688

          Securities registered pursuant to Section 12(b) of the Act:

              Title of each class           Name of each exchange
              -------------------          -----------------------
                 Common stock,             American Stock Exchange
               without par value

        Securities registered pursuant to Section 12(g) of the Act: None

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

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 by check mark if disclosure of delinquent filers pursuant to Item 405
  of Regulation S-K is not contained herein, and will not be contained, to the
 best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
                                 Form 10-K. [X]

  The aggregate market value of the voting stock held by non-affiliates of the
registrant at September 13, 1999 was $78,391,304 based on the closing sale price
                             on such date of $3.69.

   Indicate the number of shares outstanding of each of the issuer's class of
                common stock, as of the latest practicable date:

   TITLE OF EACH CLASS OF COMMON STOCK    OUTSTANDING AT SEPTEMBER 13, 1999
   -----------------------------------    ---------------------------------
       Common Stock, no par value                   26,959,149

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Part IV.

Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

(a) Exhibits

    23.1 Consent of Singer Lewak Greenbaum & Goldstein LLP



                                   SIGNATURES

    Pursuant to the requirements of Section 13 of 15(d) of the Securities
Exchange Act of 1934, Registrant has duly caused this Amendment to Report to be
signed on its behalf by the undersigned, thereunto duly authorized.

                                      FRANKLIN TELECOMMUNICATIONS CORP.


                                      By  /s/  FRANK W. PETERS
                                        ----------------------------------------
                                               Frank W. Peters
                                               Chief Executive Officer

Dated: October 15, 1999

    Pursuant to the requirements of the Securities Exchange Act of 1934, this
Amendment to Report has been signed below by the following persons on behalf of
the Registrant and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
            SIGNATURE                                TITLE                      DATE
---------------------------------        -----------------------------    ---------------
<S>                                      <C>                              <C>
(1) Principal Executive Officer

          /s/ FRANK W. PETERS            Chief Executive Officer and a    October 15, 1999
          --------------------            Director
               Frank W. Peters

(2) Principal Financial and Accounting Officer

         /s/ THOMAS RUSSELL              Chief Financial Officer and a    October 15, 1999
          -------------------             Director
               Thomas Russell

(3) Directors

         /s/ PETER S. BUSWELL            President and a Director         October 15, 1999
          ---------------------
               Peter S. Buswell

           /s/ ROBERT S. HARP            Director                         October 15, 1999
          --------------------
                Robert S. Harp

           /s/ HERB MITCHELL             Director                         October 15, 1999
          --------------------
                 Herb Mitchell
</TABLE>