<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

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

          For the quarterly period ended MARCH 31, 2000

                                       OR

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

Commission file number 0-28760

                       Pacific Coast Apparel Company, Inc.
                       -----------------------------------
             (Exact name of registrant as specified in its charter)

        California                                    95-4536683
        ----------                                    ----------
(State or other Jurisdiction of              (IRS Employer Identification No.)
incorporation or organization)

50 Ridgecrest Road
    Kentfield, CA                                       94904
    -------------                                       -----
(Address of principal office)                         (Zip Code)

Registrant's telephone number,
including area code                                (415) 925-0386
                                                   --------------

                                  Inapplicable
                                  ------------

(Former name, former address and former fiscal year, if changed since last
report)

1620 South Los Angeles Street, Los Angeles, CA 90015

     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 [ ]

     Number of shares of common stock
     outstanding as of MARCH 31, 2000                               3,302,000

Transactional Small Business Disclosure Format     Yes [ ]    No [X]


<PAGE>   2

FORWARD LOOKING STATEMENTS

        In addition to historical information, this Report contains
forward-looking statements, such as those pertaining to the Company's future
sales and revenues, return on investment, profitability and cash requirements.
Forward looking statements involve numerous risks and uncertainties. The
following factors, among others discussed herein, could cause actual results and
future events to differ materially from those set forth or contemplated in the
forward-looking statement: economic conditions, competitive products, and
pricing, new product development, need for additional capital, development of
the Cotton Stuff business, changes in fashion trends, dependence on key
customers and personnel, and consumer response to the Company's products and
advertising. Readers are cautioned not to place undue reliance on
forward-looking statements, which reflect management's analysis only as of the
date hereof. The Company assumes no obligation to update forward-looking
statements. See also the Company's other reports to be filed from time to time
with the Securities and Exchange Commission pursuant to the Securities and
Exchange Act of 1934.

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

INTRODUCTION

        Pacific Coast Apparel Company, Inc. ("the Company") was incorporated in
California in April 1995 to design, source and market in the United States a
collection of men's active sportswear under the brand name "Aca Joe" Registered
Trademark through traditional department stores and men's specialty stores. In
August 1997 the Company acquired the assets and business of Cotton Stuff, Inc.
Because of the Company's inability to generate sufficient revenues it decided
not to renew it's exclusive Aca Joe license agreement and ceased doing business
under it's license with Action Down Under, Ltd. in June 1998.

        As previously stated the Company acquired the assets of Cotton Stuff,
Inc. in August 1997. Cotton Stuff apparel is a collection of both men's and
women's garment-dyed, better sportswear which is sold across the United States
through better catalogs including Saks Folio, Coldwater Creek, Neiman Marcus and
Nordstrom, better specialty stores such as Fred Siegel, Bloomingdales and My
Friends Place and selected department stores including Macy's.

        On September 30, 1999, the Company signed an agreement with Capital
Factors, Inc. allowing representatives of Capital Factors to take possession of
the majority of its operating assets, specifically those which Capital Factors
had taken as collateral for loans and advances to the Company under a Factoring
Agreement dated September 8, 1997. Under the agreement, the Company gave Capital
Factors a first lien on accounts receivable, cash and various other assets. The
Company received notice of default from Capital Factor pursuant to Section 9504
(3) of the California Uniform Commercial Code

        On September 30, 1999 the Company entered into an agreement with Robert
P. Mulder, Inc., d/b/a/ Evans Unlimited to purchase the balance of the Company's
assets which included piece goods, certain inventory, all trademarks and trade
names and the associated goodwill, orders and equipment. The agreement called
for Robert P. Mulder, Inc., to pay Capital Factors Inc. $110,000 representing
the balance of the Company's secured obligations. In addition, Robert P. Mulder,
Inc. agreed to pay an additional $40,000 which was deposited in the trust
account of the law firm of Ezra, Brutzkus and Gubner, the Company's counsel.
These funds were to be used to settle outstanding creditors claims. In addition,
Robert P. Mulder, Inc. was to deposit an additional $10,000 in the trust account
of the Company's counsel to defer legal fees associated with the distribution
and settlement of creditors claims.


                                       2
<PAGE>   3

SIX MONTH ENDED MARCH 31, 2000

        The Company had no revenues during the period ended March 31, 2000.

LIQUIDITY AND CAPITAL RESOURCES

        The capital resources of the Company consist of approximately $22,000.38
which remain in the trust account of the Company's counsel and have been set
aside to settle creditors claims. The Company has no additional resources. The
Company may seek to fund future operations through private offerings of
securities with collaborative or other arrangements with corporate partners of
from other sources. Additional financing may not be available when needed or on
terms acceptable to the Company.

FEDERAL TAXES

        Since its inception, the Company has been taxed as a "C" corporation.
Accordingly the Company has available as of March 31, 2000 approximately
$6,000,000 in net operating loss carryforwards to offset future federal taxable
income expiring through the year ending September 30, 2004.

LEGAL PROCEEDINGS

        The Company is currently involved in a law suit, which was filed by Ms.
Jill Grossman, the Company's former sales manager. Ms. Grossman terminated her
employment with the Company on September 22, 1997. Ms. Grossman claims she is
owed approximately $440,000 of compensation due under an employment agreement.
The Company filed a cross complaint based on the belief that, among other
things, Ms. Grossman breached the employment agreement.

        Although the outcome of the litigation cannot be predicted with
certainty, management believes that the Company has meritorious defenses to the
claims alleged, and intends to defend this action with vigor.

        In March 2000, the Company's counsel was served with a levy from the Los
Angeles Sheriff's Department and the Company's trust account was attached. The
Plaintiff was IRA Capital Corporation which received a judgement against the
Company in the amount of $105,057.43 for the nonpayment of a promissory note.
The Company attempted to settle this obligation but was unsuccessful.


                                       3
<PAGE>   4

                         PACIFIC COAST APPAREL CO., INC.
                                  BALANCE SHEET

<TABLE>
<CAPTION>
                                           March 31, 2000     September 30, 1999
                                           --------------     ------------------
<S>                                        <C>                <C>
             ASSETS

CURRENT ASSETS
   Cash and cash equivalents                $   16,488          $   44,128
     Accounts receivable                    $        0          $    4,982
     Loan receivable, stockholder           $   15,449          $   14,384

        Total current assets                $   31,937          $   63,494

       Total Assets                         $   31,937          $   63,494


     LIABILITIES AND STOCKHOLDERS' DEFICIENCY

CURRENT LIABILITIES
     Due from factors                       $        0          $  178,200
     Accounts payable                       $   66,939          $  285,701
     Accrued expenses                       $  223,350          $  503,039
     Income taxes payable                   $    2,105          $    1,305
     Loan from stockholders                 $  194,601

        Total current liabilities           $  486,995          $  968,245

STOCKHOLDERS' EQUITY
     Preferred stock
        Authorized, 600,000 shares
        No shares outstanding
     Common stock - no par value             $5,453,798          $5,453,798
        Authorized, 1,000,000 shares
        Issued and outstanding  3,302,000
         shares
     Additional paid-in capital              $  480,460          $  480,460
     Deficit                                ($6,389,316)        ($6,839,009)

        Total stockholders' equity          ($  455,058)        ($  904,751)

                                             $   31,937          $   63,494
</TABLE>

See notes to condensed financial statements


                                       4
<PAGE>   5

                         PACIFIC COAST APPAREL CO., INC.
                             STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                                  Six Months Ended March 31
                                                -----------------------------
                                                   2000                1999
                                                ---------         -----------
<S>                                             <C>               <C>
NET SALES                                       ($  5,090)         $2,360,882

COST OF GOOD SOLD                                       0           1,334,743

GROSS (LOSS) PROFIT                                (5,090)          1,026,139

OPERATING EXPENSES
   Design and production                                              231,120
   Selling                                                            275,569
   Shipping                                                           132,979
   General and administrative                        8158             436,989

     Total Operating Expenses                       8,158           1,076,657

LOSS FROM OPERATIONS                              (13,248)            (50,518)

OTHER INCOME(EXPENSE)
   Royalty Income                                                       2,863
   Gain on liquidation                            473,755
   Interest (income) expense                      (10,014)            (43,444)

     Total Other Income (Expense)                 463,741             (40,581)

LOSS BEFORE INCOME TAXES                        $ 450,493         ($   91,099)

PROVISION FOR INCOME TAXES                     ($     800)               (800)

NET INCOME (LOSS)                               $ 449,693         ($   91,899)

NET LOSS PER SHARE                                   0.14               (0.03)

WEIGHTED AVERAGE NUMBER OF                      3,302,000           3,064,000
   COMMON SHARES OUTSTANDING
</TABLE>

See notes to condensed financial statements


                                       5
<PAGE>   6

                         PACIFIC COAST APPAREL CO., INC.
                             STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                               Three Months Ended March 31
                                             ------------------------------
                                                 2000                1999
                                             ----------         -----------
<S>                                          <C>                <C>
NET SALES                                   ($    5,090)         $1,131,595

COST OF GOOD SOLD                                     0             661,141

GROSS (LOSS) PROFIT                              (5,090)            470,454

OPERATING EXPENSES
   Design and production                                            112,482
   Selling                                                          149,771
   Shipping                                                          62,534
   General and administrative                        90             194,688

     Total Operating Expenses                        91             519,475

LOSS FROM OPERATIONS                             (5,181)            (49,021)

OTHER INCOME
   Royalty Income                                                $    2,863
   Interest (income) expense                     (4,383)             23,251
   Gain on liquidation                          473,755

        Total Other Income (Expense)            469,372

LOSS BEFORE INCOME TAXES                     $  464,191         ($   22,907)

PROVISION FOR INCOME TAXES                            0                   0

NET LOSS                                     $  464,191         ($   22,907)

NET LOSS PER SHARE                                 0.14               (0.01)

WEIGHTED AVERAGE NUMBER OF                    3,302,000           3,064,000
   COMMON SHARES OUTSTANDING
</TABLE>

See notes to condensed financial statements


                                       6
<PAGE>   7

                                                                     Page 1 0f 2
                         PACIFIC COAST APPAREL CO., INC.
                        CONDENSED STATEMENT OF CASH FLOWS

                           INCREASE (DECREASE) IN CASH

<TABLE>
<CAPTION>
                                                            Six Months Ended March 31
                                                           ---------------------------
                                                              2000              1999
                                                           ---------          --------
<S>                                                        <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Net gain (loss)                                       $ 449,693         $ (91,899)
     Adjustments to reconcile net loss to
        cash used by operating activities:
        Depreciation                                       $       0         $  18,000
        Amortization of negative goodwill                  $       0         $  (5,768)

        Changes in assets and liabilities, net
          of effect of assets and liabilities
          acquired:
            Increase in due from factors                   $(178,200)        $ (66,778)
            Decrease in accounts receivable                $   4,982         $ (23,218)
            Increase in inventories                        $       0         $ 149,772
            Increase in prepaid expenses and               $  (1,065)        $  42,031
               other current assets
            Increase in other assets                       $       0         $   1,064

            Increase in accounts payable                   $(218,762)        $  35,974
            Increase (decrease) in accrued expenses        $(278,889)        $  11,127
            Increase in other current liabilities          $ 194,601

            Total Adjustments                              $(477,333)        $ 162,204

            Net Cash Used By Operating Activities          $( 27,640)        $  70,305
</TABLE>

See notes to condensed financial statements


                                       7
<PAGE>   8

                                                                     Page 2 0f 2
                         PACIFIC COAST APPAREL CO., INC.
                        CONDENSED STATEMENT OF CASH FLOWS

                           INCREASE (DECREASE) IN CASH

<TABLE>
<CAPTION>
                                                 Six Months Ended March 31
                                                 -------------------------
                                                    2000             1999
                                                 --------          -------
<S>                                              <C>               <C>
CASH FLOWS FROM INVESTING ACTIVITIES
     Purchase of property and equipment          $      0         $ (8,940)
     Decrease in short term investments          $      0

          Net Cash (used) Provided by            $      0         $ (8,940)
            Investing Activities

CASH FLOWS FROM FINANCING ACTIVITIES
     Principal payments on long term debt        $      0         $(53,212)
     Reacquisition of common stock

          Net Cash Used by
            Financing Activities                 $      0         $(53,212)

NET DECREASE IN CASH AND
     CASH EQUIVALENTS                            $(27,640)        $  8,153

CASH AND CASH EQUIVALENTS, beginning
     as previously stated                        $ 44,128         $(17,324)

CASH AND CASH EQUIVALENTS, ending                $ 16,488         $ (9,171)
</TABLE>

See notes to condensed financial statements


                                       8
<PAGE>   9

                         PACIFIC COAST APPAREL CO., INC.
          CONDENSED STATEMENT OF CASH FLOWS - SUPPLEMENTAL INFORMATION

<TABLE>
<CAPTION>
                                         Three Months Ended March 31
                                         ---------------------------
                                           2000           1999
                                         -------        -------
<S>                                      <C>            <C>
SUPPLEMENTAL DISCLOSURE OF
      CASH FLOW INFORMATION
      Cash paid during period for:
          Interest                        $4,383        $23,251
          Income Taxes
</TABLE>

See notes to condensed financial statements


                                       9
<PAGE>   10

                         PACIFIC COAST APPAREL CO., INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS

                                 MARCH 31, 2000

        1 - ACCOUNTING POLICIES

             Although the interim condensed financial statements of the Company
             are unaudited, it is the opinion of the Company's management that
             all normal recurring adjustments necessary for a fair statement of
             the results have been reflected therein. Operating revenues and net
             earnings for any interim period are not necessarily indicative of
             results that may be expected for the entire year.

             These statements should be read in conjunction with the financial
             statements and reflected notes which are incorporated by reference
             in the Company's Annual Report on Form 10-KSB for the year ended
             September 30, 1999


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<PAGE>   11

                         PACIFIC COAST APPAREL CO., INC.

                   CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY

                          YEAR ENDED SEPTEMBER 30, 1999

                     AND THE SIX MONTHS ENDED MARCH 31, 2000

<TABLE>
<CAPTION>
                                                                                     Additional                          Total
                                                        Common stock                  Paid-in                         Stockholders'
                                                   Shares           Amount            Capital          Deficit           Equity
                                                  ---------       -----------       -----------       ----------      -------------
<S>                                               <C>             <C>               <C>              <C>              <C>
Balance, October 1, 1996                          3,070,000       $ 5,920,118       $   162,500      ($2,136,808)      $ 3,945,810

Issuance of stock for services                        9,000       $     4,500                                          $     4,500

Reacquisition of stock during the

    year ended September 30, 1997                  (116,000)     ($   452,400)      $   306,610                       ($   145,790)

Other                                                (5,000)     ($    19,500)      $    10,750                       ($     8,750)

Net loss for the year ended

  September 30, 1997                                                                                 ($2,954,339)     ($ 2,954,339)
                                                  =========       ===========       ===========      ============      ============
Balance, September 30, 1997,                      2,958,000       $ 5,452,718       $   479,860      ($5,091,147)      $   841,431

   as previously reported

Issuance of stock                                   108,000             1,080                                          $     1,080

Cancellation of stock                                (2,000)

Net loss for the year ended

     September 30, 1998                                                                              ($  988,323)     ($   988,323)
                                                  =========       ===========       ===========      ============      ============
Balance, September 30, 1998,                      3,064,000       $ 5,453,798       $   479,860      ($6,079,470)     ($   145,812)

Contributions                                                                       $       600                        $       600

Net loss for the year ended

  September 30, 1999                                                                                 ($  759,539)     ($   759,539)
                                                  =========       ===========       ===========      ============      ============
Balance, September 30, 1999                       3,064,000       $ 5,453,798       $   480,460      ($6,839,009)     ($   904,751)

Issuance of stock                                   238,000

Net income (loss) for the six months ended                                                            $  449,693       $   449,693
   March 31, 2000                                 =========       ===========       ===========      ============      ============

Balance, March 31, 2000                           3,302,000         5,453,798           480,460       (6,389,316)         (455,058)
</TABLE>


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<PAGE>   12

                                   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.

                                      Pacific Coast Apparel Company, Inc.

                                      By      /s/ Terrence L. McGovern
                                        ----------------------------------------
                                                Terrence L. McGovern
                                            Chief Executive Officer and
                                              Chief Financial Officer


                                       12
<PAGE>   13


EXHIBIT INDEX
<TABLE>
<CAPTION>


EXHIBIT NUMBER         DESCRIPTION OF EXHIBIT
--------------         -----------------------
<S>                    <C>
     27.1              Financial Data Schedule

</TABLE>