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

                                  FORM 10-KSB/A

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

                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 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
                                     0-27551

                                 QORUS.COM, INC.
                 (Name of Small Business Issuer in its Charter)

                  FLORIDA                                 65-0358792
      (State or other jurisdiction of                  (I.R.S. employer
      incorporation or organization)                  identification no.)
        9800 South Sepulveda Blvd.
                 Suite 318
              Los Angeles, CA
                                                             90045
      (Address of principal executive                     (Zip Code)
                 offices)

                                 (310) 258-8450
                (Issuer's telephone number, including area code)

        SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: NONE
           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
                     COMMON STOCK, PAR VALUE $.001 PER SHARE

     Check whether the Issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act 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      .

     Check if there is no disclosure of delinquent filers in response to Item
405 of Regulation S-B contained in this form, and no disclosure will 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-KSB
or any amendment to this Form 10-KSB.   X

     Issuer's revenues for its most recent fiscal year:  $198,578.

     The aggregate market value of the voting stock held by non-affiliates of
the registrant is approximately $ 815,325.

     As of March 26, 2001, 17,897,405 shares of the registrant's Common Stock
were outstanding.

                 Transitional Small Business Disclosure Format (Check One):
                                    Yes      No   X

                 DOCUMENTS INCORPORATED BY REFERENCE: None



<PAGE>   2



                                EXPLANATORY NOTE

     This Form 10-KSB/A is being filed in order to amend and restate in their
entirety Items 9, 10, 11 and 12 of the Registrant's Form 10-KSB for the fiscal
year ended December 31, 2000.




<PAGE>   3



                                    PART III

ITEM 9.    DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
           COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

     The following table sets forth the names, positions and ages of our
executive officers and directors. All of our directors serve until the next
annual meeting of stockholders or until their successors are elected and
qualify. Officers are elected by the board of directors and their terms of
office are, except to the extent governed by employment contract, at the
discretion of the board of directors. There is no family relationship between
any director, executive officer or person nominated or chosen by Qorus to become
a director or executive officer.

<TABLE>
<CAPTION>

           NAME                AGE                    POSITION                   HELD SINCE
  ----------------------       ---       -----------------------------------     ----------
<S>                            <C>       <C>                                     <C>
  Patrick J. Haynes, III        51       Senior Chairman and Chairman of the        1999
                                         Executive Committee
  George M. Middlemas           54       Director                                   1999
  Robert T. Isham, Jr.          48       Director                                   1999
  Thomas C. Ratchford           52       Chief Financial Officer                    2000

  Wesley N. Waite, Sr.          60       Acting Chief Operating Officer             2000
</TABLE>


     Patrick J. Haynes, III, Senior Chairman and Chairman of the Executive
Committee, is the co-founder and Senior Managing Director of Thurston Group,
Inc., a private merchant bank in Chicago. Mr. Haynes has held his position with
Thurston Group, Inc. since 1988. In 1992, Mr. Haynes founded e.spire
Communications (formerly American Communications) and held the position of
President until 1993. Mr. Haynes currently serves as Chairman of Avery
Communications, Inc., a position he has held since 1995. Prior to 1988, Mr.
Haynes was associated with Merrill Lynch & Company, Oppenheimer & Company and
Lehman Brothers, Inc. as an investment banker.

     George M. Middlemas, Director, is a Managing General Partner of Apex
Venture Partners ("Apex") focused in the telecommunications, software and
information services industries. He has been a venture capital investor since
1979. Prior to joining Apex in 1991, Mr. Middlemas was a senior vice president
and principal with Inco Venture Capital Management and a vice president and
member of the investment committee of Citicorp Venture Capital. He was
instrumental in the founding of America Online and RSA Security, Inc. (formerly
Security Dynamics Technologies, Inc.). Mr. Middlemas is a director of Online
Resources Corporation, Data Critical Corporation, Tut Systems, Pure Cycle
Corporation and several privately held companies.

     Robert T. Isham, Jr., Director, is a Managing Director of the Thurston
Group, a private merchant bank in Chicago, a position he has held since 1997.
From 1993 to 1996, Mr. Isham ran his own commercial law practice, concentrating
on bankruptcy, workout, debtor-creditor relations and futures, commodities and
securities law. Previously, he was a partner at McDermott, Will & Emery in
Chicago. Mr. Isham is a Director of Avery Communications, Inc.

     Thomas C. Ratchford, Chief Financial Officer, joined Qorus in October 2000.
Prior to joining Qorus, Mr. Ratchford was the Director of Finance for the
Highway Safety division of Avery Dennison Corporation from 1999 to 2000. From
1993 to 1999, Mr. Ratchford was the Chief Financial Officer of Stimsonite
Corporation, a publicly held manufacturer of highway safety products, which was
purchased by Avery Dennison Corporation in 1999.

     Wesley N. Waite, Sr., Acting Chief Operating Officer, joined Qorus in
January 2000. Mr. Waite was previously the Vice President of Operations for
Customer Care & Technology Holdings, Inc. ("CCT"), a Thurston Group company.
From 1998 to 1999, Mr. Waite had been Vice President Operations for MilleCom,
Inc., a multinational telecommunications company. With both CCT and MilleCom,
Inc. Mr. Waite was solely responsible for the development and implementation of
infrastructure and operations. From 1995 to 1998, Mr. Waite had been Chief
Operating Officer of Nusantara Communications with responsibility for the
development of the Advanced Rural Telephone System. From 1989 to 1995, Mr. Waite
was with McCaw Cellular Communications where, as the Director of Field
Operations, he was responsible for the National Deployment of the first Cellular
Digital Packet Data (CDPD) network and the national implementation of the United
Parcel Service (UPS) Cellular Circuit Switched data network. From 1972 to 1989,
he was with NYNEX in a variety of technology and operations positions.


<PAGE>   4


     We are controlled by Thurston Group, Inc., a privately owned merchant
banking firm located in Chicago, Illinois, and its affiliates. Thurston Group,
directly and indirectly through its various affiliates and investment limited
partnerships, beneficially owns approximately 40% of our common stock.

     Thurston Group is controlled by Patrick J. Haynes, III, our Senior Chairman
and the Chairman of the Executive Committee of our board, and Russell T. Stern,
Jr. Our board has granted Mr. Haynes broad authority to manage our day-to-day
affairs, and Mr. Haynes actively participates in our management. Mr. Haynes does
not, however, have an employment contract with us and does not receive any cash
compensation for providing his services. Mr. Stern does not participate in our
management.

Section 16(a) Beneficial Ownership Reporting Compliance

     Section 16(a) of the Securities Exchange Act of 1934, as amended, requires
that Qorus' directors, executive officers and persons who own more than 10% of
the outstanding common stock of Qorus file initial reports of ownership and
reports of changes in ownership in such common stock with the Securities and
Exchange Commission (the "SEC"). Officers, directors and stockholders who own
more than 10% of the outstanding common stock of Qorus are required by the SEC
to furnish Qorus with copies of all Section 16(a) reports they file. To the
knowledge of Qorus, based solely on the review of the copies of such reports
furnished to Qorus and written representations that no other reports were
required during the year ended December 31, 2000, all officers, directors, and
10% stockholders complied with all applicable Section 16(a) filing requirements.

ITEM 10.   EXECUTIVE COMPENSATION.

     James W. Blaisdell, who served as our Chief Executive Officer during 2000,
resigned as of March 15, 2001. We have agreed to pay Mr. Blaisdell the bonus
earned for year 2000 performance, in the amount of $125,000, in accordance with
his employment agreement and to be paid in installments between April 2001 and
September 2001.

                           SUMMARY COMPENSATION TABLE

<TABLE>
<CAPTION>

                                                                              LONG TERM
                                                       ANNUAL               COMPENSATION
   NAME AND PRINCIPAL                               COMPENSATION        SECURITIES UNDERLYING      ALL OTHER
       POSITION                         YEAR           SALARY                  OPTIONS            COMPENSATION
-----------------------                 ----        ------------        ---------------------     ------------
<S>                                     <C>         <C>                 <C>                       <C>
James W. Blaisdell(1)
Chief Executive Officer                 2000          $365,371                678,500                  --

Jack N. Woodruff(2)                     2000          $189,096                     --                  --
Chief Financial Officer                 1999          $ 79,317                150,000


Wesley N. Waite, Sr
Acting Chief Operating                  2000          $162,855                257,000                  --
Officer

Michael D. Sohn(3)                      2000          $159,711                     --                  --
Chief Executive Officer                 1999          $164,167                500,000


Chris M. Mattheisen(4)
Senior Vice President                   2000          $158,433                                   $83,300
Sales and Marketing
</TABLE>

----------

(1)      Mr. Blaisdell resigned effective March 15, 2001. The salary paid to Mr.
         Blaisdell is less than the $250,000 stipulated in his employment
         agreement due to a voluntary pay decrease taken during a portion of the
         year. Additionally, we have agreed to pay a $125,000 bonus to Mr.
         Blaisdell for his performance in 2000 to be paid in installments
         between April 2001 and October 2001. Mr. Blaisdell has the right to
         exercise options to purchase up to 452,333 shares until June 15, 2001.


<PAGE>   5


(2)      Mr. Woodruff's employment terminated on September 15, 2001. Mr.
         Woodruff has the right to exercise options to purchase up to 116,666
         shares until May 24, 2004.

(3)      Mr. Sohn's employment terminated on May 31, 2000. Mr. Sohn has the
         right to exercise options to purchase up to 433,333 shares until May
         24, 2004.

(4)      Mr. Mattheisen's employment terminated on February 14, 2001, and we
         have agreed to pay severance benefits in the amount of $83,300, payable
         in installments between March 2001 and August 2001. Mr. Mattheisen has
         the right to exercise options to purchase up to 70,000 shares until May
         14, 2001.

                      OPTION/SAR GRANTS IN LAST FISCAL YEAR

<TABLE>
<CAPTION>

                                             NUMBER OF
                                             SECURITIES           PERCENT OF TOTAL
                                             UNDERLYING           OPTIONS GRANTED       EXERCISE
                                            OPTIONS/SARS          TO EMPLOYEES IN         PRICE              EXPIRATION
                  NAME                        GRANTED                FISCAL YEAR        ($/SHARE)               DATE
         ----------------------             ------------          ----------------      ---------            ----------
<S>                                         <C>                   <C>                   <C>                  <C>
         James W. Blaisdell(1)                678,500                   44.9%             $1.25              March 2010

         Wesley N. Waite, Sr.                 257,000                   17.0%             $1.25              March 2010

         Chris M. Mattheisen(2)               300,000                   19.9%             $1.25              March 2010
</TABLE>

----------

(1)      Mr. Blaisdell resigned effective March 15, 2001. Mr. Blaisdell has the
         right to exercise options to purchase up to 452,333 shares until June
         15, 2001.

(2)      Mr. Mattheisen's employment terminated on February 14, 2001. Mr.
         Mattheisen has the right to exercise options to purchase up to 70,000
         shares until May 14, 2001.

Executive Employment Agreements

     Effective as of March 15, 2001, Mr. Blaisdell resigned all positions he
held with Qorus. Following is a description of the principal business terms of
the employment agreement which had been in effect with Mr. Blaisdell prior to
his resignation:

     o    Annual salary of $250,000

     o    Target bonus of 50% of base salary upon meeting business and
          performance targets approved by the Board of Directors

     o    Term of three years (until December 31, 2003)

     o    Options to purchase up to 660,000 shares of common stock at $1.25 per
          share with vesting over three years

ITEM 11.   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

     We have set forth in the following table certain information regarding our
common stock beneficially owned on March 26, 2001 for (i) each shareholder we
know to be the beneficial owner of 5% or more of our outstanding common stock,
(ii) each of our executive officers and directors, and (iii) all executive
officers and directors as a group. In general, a person is deemed to be a
"beneficial owner" of a security if that person has or shares the power to vote
or direct the voting of such security, or the power to dispose or to direct the
disposition of such security. A person is also deemed to be a beneficial owner
of any securities of which the person has the right to acquire beneficial
ownership within 60 days. At March 26, 2001, 17,897,405 shares of our common
stock were outstanding.


<PAGE>   6

<TABLE>
<CAPTION>

        NAME AND ADDRESS OF                   AMOUNT OF BENEFICIAL
         BENEFICIAL OWNER                          OWNERSHIP                PERCENT OF CLASS

<S>                                           <C>                           <C>
Patrick J. Haynes, III                            7,122,970(1)                   39.6%
190 South LaSalle Street, Suite 1710
Chicago, IL 60603

Thurston Interests LLC                            5,104,337(2)                   28.5%
190 South LaSalle Street, Suite 1710
Chicago, IL 60603


George M. Middlemas                               4,106,697(3)                   22.8%
225 W. Washington Street, Suite 1450
Chicago, IL 60606

Apex Investment Fund III                          3,777,154                      21.1%
225 W. Washington Street, Suite 1450
Chicago, IL 60606


Thurston Communications Corporation               1,900,000                      10.6%
190 South LaSalle Street, Suite 1710
Chicago, IL  60603

Thomson Kernaghan & Co., Ltd.                     1,420,000(4)                    7.9%
365 Bay Street
Toronto, ON
M5H2V2 Canada

Robert T. Isham, Jr.                                755,195(5)                    4.2%
190 South LaSalle Street, Suite 1710
Chicago, IL 60603


Wesley N. Waite, Sr.                                188,466(6)                    1.0%
190 South LaSalle Street, Suite 1710
Chicago, IL  60603

All Executive Officers and Directors             11,571,006(7)                   62.9%
as a group
</TABLE>

----------

(1)      Includes 4,482,015 shares held of record by Thurston Interests, LLC,
         1,900,000 shares held of record by Thurston Communications Corporation,
         18,633 shares held of record by Haynes Interests, LLC, 89,682 shares
         held of record by Thurston Capital, LLC, 147,387 shares held of record
         by Thurston Group, Inc., 105,253 shares held of record by Thurston
         Offshore Bridge Partners II, Ltd., 280,000 shares held of record by
         Customer Care & Technology Holdings, Inc. and 100,000 shares issuable
         upon the exercise of options within 60 days.


<PAGE>   7


(2)      Includes 89,682 shares held of record by Thurston Capital, LLC, 147,387
         shares held of record by Thurston Group, Inc., 105,253 shares held of
         record by Thurston Offshore Bridge Partners II, Ltd. and 280,000 shares
         held of record by Customer Care & Technology Holdings, Inc.

(3)      Includes 3,777,154 shares held of record by Apex Investment Fund III,
         223,272 shares held of record by Apex Strategic Partners, LLC and
         100,000 shares issuable upon the exercise of options within 60 days.

(4)      Includes 20,000 shares issuable upon the exercise of options within 60
         days.

(5)      Includes 89,682 shares held of record by Thurston Capital, LLC, 147,387
         shares held of record by Thurston Group, Inc., 105,253 shares held of
         record by Thurston Offshore Bridge Partners II, Ltd., 280,000 shares
         held of record by Customer Care & Technology Holdings, Inc., 32,873
         shares held of record by Robert T. Isham, Jr. Trust and 100,000 shares
         issuable upon the exercise of options within 60 days.

(6)      Includes 188,466 shares issuable upon the exercise of options within 60
         days.

(7)      Includes 508,466 shares issuable upon the exercise of options within 60
         days.

ITEM 12.   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     On July 15, 1999, we acquired certain assets of NetDox, Inc., including the
NetDox brand name, equipment, and customer lists. Thurston Group, Inc. and its
affiliates co-founded NetDox with Deloitte & Touche L.L.C. in 1997 with an
initial aggregate capital investment of approximately $35 million. In early
1999, Thurston Group acquired Deloitte & Touche's interest in NetDox. In
consideration of the transfer of the assets to us by NetDox, we assumed certain
liabilities of NetDox and forgave $2,100,000 of indebtedness owed to us by
NetDox. On December 31, 1999, the transaction was rescinded pursuant to a
Rescission Agreement. All of the assets (except equipment valued at $350,000)
were conveyed back to NetDox and NetDox assumed all of the liabilities that had
been assumed by us. The balance due us under the note as of December 31, 1999
was $1,488,987. As part of the rescission, Messrs. Haynes and Stern agreed to
personally guarantee approximately $2.5 million in loans to a commercial bank on
behalf of NetDox.

     We also entered into a Commission Agreement with NetDox to compensate
NetDox for its efforts in securing a distribution contract with Moore Business
Communications Services ("Moore"). Under the Commission Agreement, NetDox was
entitled to a commission in the amount of 20% of all gross revenues (excluding
development fees or other non-recurring revenues) received by us under the
Master Agreement with Moore. In December 2000, we reached an agreement with
NetDox under which NetDox released us from all past, present and future
obligations to pay any commissions under the Commission Agreement. In
consideration for the release, we conveyed to NetDox our ownership interest in
convertible preferred stock and warrants of Tornado Development, Inc. In the
absence of such an agreement, we would have owed NetDox $36,000 in commission at
the end of 2000.

     On March 1, 1999, we entered into a consulting agreement with Thurston
Group, Inc. Under that agreement, we engaged Thurston Group until March 31, 2002
as an independent contractor to advise us with respect to obtaining financing of
any type and to advise us and act as our agent in connection with any business
combination, merger, acquisition or sale. Thurston Group agreed to provide the
following services to us:

     o    Distribute an informational memorandum outlining our business plans
          and expectations and/or contemplating specific transactions for
          business combinations;

     o    Identify potential sources of capital;

     o    Provide sale, merger and acquisition financial analysis;

     o    Advise on structure of any potential transaction;

     o    Assist with negotiations; and

     o    Assist with due diligence.

     Thurston Group will earn a fee in the amount of 8% of the amount of any
financing raised by us during the term of this agreement, or 8% of the value to
us of any business combination transaction such as a merger, acquisition or
sale. The consulting agreement may be terminated by the written consent of both
parties, upon the consummation of an offering by us of securities


<PAGE>   8


registered under the Securities Act of 1933, by Qorus upon Thurston Group's
breach of the consulting agreement which is not cured within 30 days of notice
of such breach, or by Thurston Group in the event of Qorus' failure to make any
payments due under the consulting agreement within 10 days of notice or upon
Qorus' breach of the consulting agreement which is not cured within 30 days of
notice of such breach. In addition, a non-defaulting party may terminate the
consulting agreement upon 30 days prior written notice to the defaulting party.
For purposes of the consulting agreement, the bankruptcy or reorganization of a
party, the appointment of a receiver with respect to a party or its assets or
any similar action is a default.

     During 2000, we paid Thurston $529,157 under the consulting agreement. For
the nine months ended September 30, 1999, we paid $43,000. All such payments
relate to the acquisition of funding and certain other investment activity.

     On November 1, 1999, we executed and delivered a promissory note in the
original principal amount of $100,000 to Thomson Kernaghan & Co., Ltd. The note
bears interest at 10% per annum and was due on or before April 30, 2000 or the
occurrence of the next equity or quasi-equity financing of Qorus. The note is
convertible, at the election of the holder, into shares of our common stock at
$3.00 per share. In connection with the note, we also gave Thomson Kernaghan an
entitlement to purchase 20,000 shares of our common stock for $.01 per share.

     We agreed to assume the responsibilities of Customer Care & Technology
Holdings, Inc., formerly known as Southern European Communications Corp.
("CCT"), under a lease and service agreement dated December 23, 1999. The lease
covers office space located at 11350 Random Hills Road, Fairfax, Virginia.
Monthly rental is $5,302 plus $1,170 in furniture rental fees, phone charges and
fees for business support services. The term of the lease began January 3, 2000
and expired June 30, 2000. Thurston Group, Inc. and its affiliates own a
majority of the outstanding capital stock of CCT. Mr. Haynes, a director of
Qorus, is also a director of CCT. Our board of directors had determined that the
assumption of the lease and the release of CCT from its obligations under the
lease were fair to Qorus.

     Patrick J. Haynes, III and Robert T. Isham, Jr., directors of Qorus, are
affiliated with Thurston Group, Inc. and its affiliates.

     Mr. Haynes and Thurston Group, Inc. and their respective affiliates are the
founders of Qorus Delaware. None of Mr. Haynes, Thurston Group or any of their
respective affiliates has received anything of value other than fees Thurston
Group has earned under the consulting agreement described above. Other than the
assets acquired from NetDox, we did not acquire any assets from Mr. Haynes,
Thurston Group or any of their respective affiliates.

     Between March 2000 and March 2001, we have obtained substantially all of
our funding from Thurston Interests LLC, Apex Investment Fund III, Apex
Strategic Partners, Thurston Communications Corporation and CCT. In the
aggregate, such parties have advanced $7.1 million during that period. In
exchange for the cash, we issued convertible and non-convertible notes with
interest rates between 6.6% and 12.0%. In connection with such loans, each of
the parties was given an entitlement to purchase shares of our common stock, at
a price of $0.01 per share, for each $1.00 advanced.

     SIGNATURES

     In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, on the ____
day of April, 2001.

                                                 QORUS.COM, INC.




                                                By: /s/ Patrick J. Haynes, III
                                                   ----------------------------
                                                   Senior Chairman