<PAGE>   1


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



                                   FORM 10-QSB
                  Quarterly Report Under Section 13 or 15(d) of
                       the Securities Exchange Act of 1934




For the Quarterly Period Ended January 31, 2001      Commission File No. 0-14234




                         KINGS ROAD ENTERTAINMENT, INC.
                 (Name of small business issuer in its charter)



         Delaware                                              95-3587522
(State or other jurisdiction                                (I.R.S. Employer
       of incorporation)                                   Identification No.)



                         12 East 33rd Street, 12th Floor
                               New York, NY 10016
                     (Address of principal executive office)



Issuer's telephone number:  (212) 252-9519




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 [ ]


As of March 20, 2001, the registrant had 3,487,390 shares of its common stock
outstanding.


Transitional Small Business Disclosure Format:  YES [ ]    NO  [X]




<PAGE>   2


PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

                 KINGS ROAD ENTERTAINMENT, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                      AS OF
                                                                  JAN. 31, 2001
                                                                  -------------
<S>                                                                <C>
    ASSETS
       Cash and Cash Equivalents                                   $     47,216
       Inventories                                                      215,890
       Accounts Receivable                                              306,496
       Due from Related Party                                            55,660
       Film Costs, net of amortization of $168,463,829                   57,957
       Theatrical Production Costs                                       37,385
       Prepaid Catalog Costs                                            197,348
       Other Prepaid Expenses and Deposits                               43,430
       Fixed Assets                                                       3,824
                                                                   ------------
    TOTAL ASSETS                                                   $    965,206
                                                                   ============

    LIABILITIES AND STOCKHOLDERS' EQUITY

    LIABILITIES
       Accounts Payable                                            $    458,728
       Note Payable                                                      19,000
       Accrued Expenses                                                   9,987
       Deferred Revenue                                                   9,930
                                                                   ------------
         TOTAL LIABILITIES                                              497,645

    COMMITMENTS AND CONTINGENCIES

    STOCKHOLDERS' EQUITY
       Common Stock, $.01 par value, 12,000,000 shares
          authorized, 3,487,390 shares issued and outstanding            34,874
       Additional Paid-In Capital                                    24,747,023
       Deficit                                                      (24,314,336)
                                                                   ------------
         TOTAL STOCKHOLDERS' EQUITY                                     467,561
                                                                   ============
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                     $    965,206
                                                                   ============
</TABLE>


The accompanying notes are an integral part of these consolidated financial
statements.


                                       2
<PAGE>   3


                 KINGS ROAD ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)


<TABLE>
<CAPTION>
                                                                THREE MONTHS                        NINE MONTHS
                                                               ENDED JAN. 31,                      ENDED JAN. 31,
                                                        -----------------------------       -----------------------------
                                                            2001              2000              2001              2000
                                                        -----------       -----------       -----------       -----------
<S>                                                     <C>               <C>               <C>               <C>
    REVENUES
      Feature Films                                     $   296,248       $   234,898       $ 1,267,514       $   525,338
      Merchandise Catalog Sales                             394,010                 0           486,760                 0
      Theatrical Admissions                                 274,292                 0           285,586                 0
                                                        -----------       -----------       -----------       -----------
                                                            964,550           234,898         2,039,860           525,338

    COSTS AND EXPENSES
      Costs Related to Revenue                              368,219            41,249           791,799            76,215
      Selling Expenses                                            0             8,858                 0            14,065
      General & Administrative Expenses                     585,913           157,307           988,788           634,149
      Interest                                                  438            26,571             1,004            79,001
                                                        -----------       -----------       -----------       -----------
                                                            954,570           233,985         1,781,591           803,430
                                                        -----------       -----------       -----------       -----------
      OPERATING INCOME (LOSS)                                 9,980               913           258,269          (278,092)


    OTHER INCOME (EXPENSES)
      Equity in Losses of Affiliates                              0          (299,155)                0        (1,495,772)
      Adjustment in Valuation of Other Investments                0                 0                 0          (250,000)
      Interest Income                                           135               168             7,802               581
      Gain From Cancellation of Indebtedness                      0                 0           126,313                 0
                                                        -----------       -----------       -----------       -----------
                                                                135          (298,987)          134,115        (1,745,191)

      INCOME (LOSS) BEFORE INCOME TAXES                      10,115          (298,074)          392,384        (2,023,283)

    Provision for Income Taxes                                    0             2,620             1,600             2,866
                                                        -----------       -----------       -----------       -----------
      NET INCOME (LOSS)                                 $    10,115       $  (300,694)      $   390,784       $(2,026,149)
                                                        ===========       ===========       ===========       ===========

      Net Income (Loss) Per Share - Basic               $      0.00       $     (0.09)      $      0.11       $     (0.58)
                                                        ===========       ===========       ===========       ===========

      Weighted Average Number of Common
      Shares - Basic                                      3,487,390         3,482,019         3,487,390         3,479,457
                                                        ===========       ===========       ===========       ===========

      Net Income (Loss) Per Share - Diluted             $      0.00       $     (0.09)      $      0.11       $     (0.58)
                                                        ===========       ===========       ===========       ===========

      Weighted Average Number of
      Common Shares and Common Share Equivalents -
      Diluted                                             3,487,390         3,482,019         3,487,390         3,479,457
                                                        ===========       ===========       ===========       ===========
</TABLE>


The accompanying notes are an integral part of these consolidated financial
statements.


                                       3
<PAGE>   4


                 KINGS ROAD ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                         FOR THE NINE MONTHS
                                                                           ENDED JANUARY 31,
                                                                     -----------------------------
                                                                        2001               2000
                                                                     -----------       -----------
<S>                                                                  <C>               <C>
    CASH FLOWS FROM OPERATING ACTIVITIES:
         Net Income (Loss)                                           $   390,784       $(2,026,149)
         Adjustments to reconcile Net Income (Loss) to Net Cash
         Provided by (Used in) Operating Activities:
              Depreciation and Amortization                              281,528            79,547
              Equity in Losses of Affiliates                                   0         1,495,772
              Gain from Cancellation of Indebtedness                    (126,313)                0
              Adj. in Valuation of Other Investments                           0           250,000
         Changes in Assets and Liabilities:
              Decrease in Restricted Cash                                      0         1,000,000
              Increase (Decrease) in Accounts Receivable                (206,537)          185,422
              Increase in Inventory                                     (215,890)                0
              Increase in Amount Due from Related Party                        0           (93,210)
              Increase in Prepaid Expenses                              (184,871)           (2,642)
              Increase (Decrease) in Other Assets                        (41,440)          114,573
              Increase (Decrease) in Accounts Payable                     71,810           (64,991)
              Increase (Decrease) in Accrued Expenses                      6,827           (58,193)
              Increase (Decrease) in Deferred Revenue                      8,030            (5,375)
                                                                     -----------       -----------
         NET CASH AND CASH EQUIVALENTS PROVIDED BY
         (USED IN) OPERATING ACTIVITIES                                  (16,072)          874,754

    CASH FLOWS FROM INVESTING ACTIVITIES:
         Purchases of Other Investments                                  (10,000)       (1,250,000)
         Gross Additions to Film Cost                                          0           (51,261)
         Gross Additions to Theater Production Costs                     (37,385)                0
         Disposal (Purchase) of Fixed Assets                               6,514            (3,312)
                                                                     -----------       -----------
         NET CASH AND CASH EQUIVALENTS USED
         IN INVESTING ACTIVITIES                                         (40,871)       (1,304,573)

    CASH FLOWS FROM FINANCING ACTIVITIES:
         Issuance of Stock                                                     0           161,908
         Issuance of Note Payable                                         39,000           250,000
         Repayment of Note Payable                                       (20,000)                0
                                                                     -----------       -----------
         NET CASH AND CASH EQUIVALENTS PROVIDED
         BY FINANCING ACTIVITIES                                          19,000           411,908
                                                                     -----------       -----------
    NET DECREASE IN CASH AND CASH EQUIVALENTS                            (37,943)          (17,911)

    CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                      85,159            55,583
                                                                     -----------       -----------
    CASH AND CASH EQUIVALENTS AT END OF PERIOD                       $    47,216       $    37,672
                                                                     ===========       ===========
</TABLE>


The accompanying notes are an integral part of these consolidated financial
statements.


                                       4
<PAGE>   5


                 KINGS ROAD ENTERTAINMENT, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


NOTE A - BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements have been prepared
in accordance with generally accepted accounting principles for interim
financial statements. Accordingly, they do not include all of the information
and disclosures required for annual financial statements. These financial
statements should be read in conjunction with the financial statements and
related footnotes for the year ended April 30, 2000 included in the Kings Road
Entertainment, Inc. ("Company" or "Registrant") annual report on Form 10-KSB for
that period.

In the opinion of the Company's management, all adjustments (consisting of
normal recurring accruals) necessary to present fairly the Company's financial
position at January 31, 2001 and the results of operations and cash flows for
the nine month periods ended January 31, 2001 and 2000 have been included.

The results of operations for the three month period ended January 31, 2001 are
not necessarily indicative of the results to be expected for the full fiscal
year. For further information, refer to the financial statements and footnotes
thereto included in the Company's annual report on Form 10-KSB for the year
ended April 30, 2000.

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting periods.
Actual results could differ from those estimates.

NOTE B - FILM COSTS

Film costs consist of motion picture projects actively in development at January
31, 2001.




                                       5
<PAGE>   6


NOTE C - INCOME TAXES

A reconciliation of the provision for income taxes to the expected income tax
expense at the statutory federal tax rate of 34% is as follows:

<TABLE>
<CAPTION>
                                                       Nine Months Ended    Nine Months Ended
                                                         Jan. 31, 2001        Jan. 31, 2000
                                                       -----------------    -----------------
<S>                                                        <C>                  <C>
    Computed Expected Tax (Benefit) at Statutory Rate      $ 132,867            $(688,891)
    State and Local Taxes                                      1,600                2,732
    Foreign Taxes                                                  0                  134
    Valuation Allowance                                     (132,867)             688,891
                                                           ---------            ---------
                                                           $   1,600            $   2,866
                                                           =========            =========
</TABLE>

For federal income tax purposes, the Company has available investment tax
credits of approximately $2,166,000 after being reduced by 35% as a result of
the Tax Reform Act of 1986 (expiring between 2001 and 2002) and net operating
loss carryforwards of approximately $19,496,000 (expiring between 2001 and 2016)
to offset future income tax liabilities.

Deferred tax assets result from temporary differences between financial and tax
accounting in the recognition of revenue and expenses. Temporary differences and
carryforwards which give rise to deferred tax assets are as follows:

                                                  As Of
                                            January 31, 2001
                                            ----------------
    Investment Valuation Allowances          $  2,436,000
    Net Operating Loss Carryforwards            6,210,000
    Investment Tax Credit Carryforwards         2,166,000
    Foreign Tax Credit Carryforwards              400,000
                                             ------------
                                               11,212,000
    Valuation Allowance                       (11,212,000)
                                             ------------
                                             $          0
                                             ============

A valuation allowance of $11,212,000 has been recorded to offset the net
deferred tax assets due to the uncertainty of realizing the benefits of the tax
assets in the future. In addition, as a result of a change in control of the
Company that occurred in November 1998, Internal Revenue Code section 382
significantly limits the Company's ability to utilize its net operating loss
carryforwards. As a result of this limitation, the Company expects that its
investment tax credit and foreign tax credit carryforwards, as well as a
significant amount of its net operating loss carryforwards, will expire prior to
utilization by the Company.


                                       6
<PAGE>   7


ITEM 2   - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND
           RESULTS OF OPERATIONS

RECENT DEVELOPMENTS

         Subsequent to the fiscal year ended April 30, 1995, the Company has not
produced any new films and has derived its film revenues almost exclusively from
the exploitation of films produced in prior years. The Company continues to fund
and develop motion picture projects, with the intention of either producing the
film, establishing a partnership or joint venture with another film production
company or an outright sale of the developed project.

         On November 9, 1998, the Company acquired 2,393,235 shares of Immediate
Entertainment Group, Inc. ("Immediate"), approximately 19% of Immediate's
outstanding common stock, for an aggregate of $2,300,000 in cash, 1,477,567
newly issued shares of the Company's common stock and a note payable to the
sellers of the common stock of Immediate for $210,803 that was subsequently
cancelled, by a revised agreement between the parties, in exchange for the
cancellation of other obligations due from entities that were either affiliated
or related to Immediate. Immediate is a diversified entertainment holding
company that provides services relating to music production, audio recording, CD
manufacturing, film soundtrack and script development and operates a mail order
music club. The Company, after carefully evaluating the remainder of the
carrying value of its investment in Immediate, decided to effect a complete
writedown during the year ended April 30, 2000. This decision was based upon
Immediate's continued operating losses, changes in management, a "going concern"
opinion rendered by Immediate's auditors, a material decrease in the trading
price of Immediate's common stock and the subsequent filing of certain
insolvency proceedings in Germany by a subsidiary of Immediate. The Company is
currently evaluating various alternatives with respect to recovering its
investment in Immediate, however, there can be no assurance that the Company
will be able to recover any portion of this investment.

         On August 31, 2000, the Company completed the acquisition of the common
stock of Animal Town, Inc. ("Animal Town"), a privately-held direct mail order
catalogue company that markets children's toys, games, crafts and books
specializing in cooperative play and development, animal protection and
environmental awareness. The Company acquired all of the outstanding common
stock of Animal Town in exchange for a combination of approximately $51,000 in
cash and the issuance of up to 97,026 shares of the Company's common stock, the
exact number of shares to be determined based upon a debt-for-equity exchange
offer that commenced on September 29, 2000, made to existing Animal Town
creditors. The Company had agreed, on an interim basis in advance of the closing
of the acquisition, to provide a secured credit facility in order for Animal
Town to immediately commence production of a Fall 2000 catalog. This credit
facility to Animal Town was consummated, which allowed for the production,
printing and subsequent distribution of over 500,000 catalogs, and was
collateralized by all of Animal Town's inventory, trademarks and proprietary
customer list. The Company believes that there are numerous opportunities in the
children's education and entertainment markets and intends to develop a focused
strategy that, in the future, will capitalize on these opportunities.

         On August 31, 2000, the Company announced that it entered into an
agreement as Executive Producer for an Off-Broadway production of the play "End
of the World Party". The play opened November 9, 2000 and received a substantial
number of favorable press reviews. In addition to certain film rights,
performance venues and other production rights that were negotiated with the
producer/director team, including future theatrical projects, the Company will
assist in the creation and sale of merchandise associated with the theatrical
play and will share in any future generated revenues. The Company announced on
March 13, 2001 that the play conducted its final show after 17 previews and 124
performances. Further productions are in the initial planning stages for San
Francisco, Miami, London and Sydney.


                                       7
<PAGE>   8


RESULTS OF OPERATIONS

THE THREE MONTHS ENDED JANUARY 31, 2001 VS. THE THREE MONTHS ENDED JANUARY 31,
2000

         For the quarter ended January 31, 2001, total revenues were $964,550 as
compared to $234,898 for the quarter ended January 31, 2000. The increase of
$729,652 principally related to holiday merchandise catalog sales resulting from
the Company's acquisition of the common stock of Animal Town, Inc. on August 31,
2000 and ticket admissions revenues from its theatrical play production of "End
of the World Party", for which there were no comparable revenues during the
quarter ended January 31, 2000, and increased royalties on the Company's feature
film library.

         Costs related to revenues were $368,219 for the quarter ended January
31, 2001 as compared to $41,249 during the quarter ended January 31, 2000. This
increase of $326,970 principally related to merchandise catalog product costs
and amortization costs relating to certain feature films. General and
administrative costs increased to $585,913 for the quarter ended January 31,
2001 compared to $157,307 for the quarter ended January 31, 2000, an increase of
$428,606. The increase resulted principally from additional full-time personnel
employed during the quarter ended January 31, 2001 to handle the Company's
increased business activities and contracted personnel and occupancy costs
associated with the Company's theatrical play production. Interest expense
during the quarter ended January 31, 2001 was $438 compared to $26,571 during
the quarter ended January 31, 2000, a decrease of $26,133, resulting from the
Company's repayment of substantially all of its outstanding notes payable.

         During the quarter ended January 31, 2001, the Company had no equity in
the losses of affiliates. During the quarter ended January 31, 2000, equity in
losses of affiliates was $299,155 reflecting the Company's share of losses
incurred by Immediate. The Company had interest income of $135 for the quarter
ended January 31, 2001 compared to interest income of $168 during the quarter
ended January 31, 2000.

         The Company had net income of $10,115 for the quarter ended January 31,
2001 compared to a net loss of $300,694 for the quarter ended January 31, 2000.
The increase in net income resulted primarily from (i) increased revenues during
the quarter ended January 31, 2001, as discussed above, and (ii) higher profit
margins on certain of the Company's business activities. During the quarters
ended January 31, 2001 and 2000, the Company had no significant provision for
income taxes.

THE NINE MONTHS ENDED JANUARY 31, 2001 VS. THE NINE MONTHS ENDED JANUARY 31,
2000

         For the nine months ended January 31, 2001, total revenues were
$2,039,860 as compared to $525,338 for the nine months ended January 31, 2000.
The increase of $1,514,522 principally related to (i) the sale of the Company's
rights to "Ticker", a motion picture project that had been developed by the
Company, (ii) increased distribution revenues from feature films in the
Company's film library, (iii) holiday merchandise catalog sales resulting from
the Company's acquisition of Animal Town, Inc. on August 31, 2000 and (iv)
ticket admissions revenues from its theatrical play production of "End of the
World Party".

         Costs related to revenue were $791,799 for the nine months ended
January 31, 2001 as compared to $76,215 during the nine months ended January 31,
2000. This increase of $715,584 principally related to holiday merchandise
catalog product costs and amortization costs relating to certain feature films.
General and administrative costs increased to $988,788 for the nine months ended
January 31, 2001 from $634,149 for the nine months ended January 31, 2000, an
increase of $354,639. The increase resulted principally from additional
full-time personnel employed during the nine months ended January 31, 2001 to
handle the Company's increased business activities and contracted personnel and
occupancy costs associated with the Company's theatrical play production.
Interest expense during the nine months ended January 31, 2001 was $1,004
compared to $79,001 during the nine months ended January 31, 2000, a decrease of
$77,997, resulting from the Company's repayment of substantially all its
outstanding notes payable.

         During the nine months ended January 31, 2001, the Company had no
equity in the losses of affiliates or adjustments in the valuation of its
investments. During the nine months ended January 31, 2000, equity in losses of
affiliates was $1,495,772 reflecting the Company's share of losses incurred by


                                       8
<PAGE>   9


Immediate. During the same period, the Company recorded a decrease adjustment in
the valuation of an investment in a joint venture of $250,000. The Company had
interest income of $7,802 for the nine months ended January 31, 2001 compared to
interest income of $581 during the nine months ended January 31, 2000.

         The Company recorded a gain from the cancellation of certain
indebtedness relating to the Immediate transaction during the nine months ended
January 31, 2001. The indebtedness was originally satisfied by an agreement,
executed prior to April 30, 2000, to convert the indebtedness to common stock of
the Company. During the nine months ended January 31, 2001, the Company reached
a new agreement with the debtholders, who were either affiliates of or related
to Immediate, to relinquish and cancel their debt due to certain cash advances
that were made by the Company to Immediate, which were subsequently determined
to be uncollectible. The Company reached this subsequent agreement prior to the
issuance of the common stock specified in the original agreement. During the
nine months ended January 31, 2000, the Company had no comparable transactions.

         The Company had net income of $390,784 for the nine months ended
January 31, 2001 compared to a net loss of $2,026,149 for the nine months ended
January 31, 2000. The increase in net income resulted primarily from (i)
increased revenues during the nine months ended January 31, 2001, as discussed
above, (ii) higher profit margins on certain of the Company's business
activities, resulting in operating income for the nine months ended January 31,
2001, compared to an operating loss for the comparable prior year period, (iii)
the equity in losses of affiliates and adjustments made in the valuation of
certain investments recorded during the nine months ended January 31, 2000 for
which there were no comparable losses during the nine months ended January 31,
2001 and (iv) a gain from the cancellation of certain indebtedness relating to
the Immediate transaction during the nine months ended January 31, 2001, for
which there was no comparable gain during the nine months ended January 31,
2000. During the nine months ended January 31, 2001 and 2000, the Company had no
significant provision for income taxes.

LIQUIDITY AND CAPITAL RESOURCES

         The Company's principal source of working capital during the three and
nine month periods ended January 31, 2001 was motion picture licensing income,
merchandise product sales from its catalog operation and ticket admission
revenues from its theatrical play production. The Company continues to invest in
the development of motion picture projects, the production of which requires
substantial capital. In the event that the Company decides to invest in the
production of one or more of its developed projects, the Company will need to
examine and evaluate the additional capital requirements to undertake such
activities. The Company presently does not have sufficient capital to pursue
such activities. With the exception of financing of new film production costs,
the Company believes it has sufficient working capital to maintain all of its
business activities.

         For the nine months ended January 31, 2001, the Company's net cash flow
used in operating activities was $16,072 compared to net cash flow provided by
operating activities of $874,754 for the comparable nine month prior year
period. The resulting decrease was principally attributable to restricted cash
received by the Company, pursuant to a secured financing arrangement with a
third party during the nine months ended January 31, 2000 and utilized in
connection with the purchase of certain investments. This transaction also
principally accounted for the reduction of net cash used in investing activities
from $1,304,573 during the nine months ended January 31, 2000 to $40,871 during
the nine months ended January 31, 2001. At January 31, 2001, the Company had
cash and cash equivalents of $47,216 compared to $37,672 at January 31, 2000.

FUTURE COMMITMENTS

         On August 31, 2000, the Company completed the acquisition of the common
stock of Animal Town, Inc. ("Animal Town"), a privately-held direct mail order
catalogue company that markets children's toys, games, crafts and books
specializing in cooperative play and development, animal protection and
environmental awareness. The Company acquired all of the outstanding common
stock of Animal Town in exchange for a combination of approximately $51,000 in
cash and the issuance of up to 97,026 shares of the Company's common stock, the
exact number of shares to be determined based upon a debt-for-


                                       9
<PAGE>   10


equity exchange offer that commenced on September 29, 2000, made to existing
Animal Town creditors. The exchange offer was made pursuant to a private
placement offering memorandum with an acceptance deadline of no later than
January 26, 2001. The Company believes that approximately eighty percent (80%)
of the dollar amount of all Animal Town, Inc. creditor claims subject to the
exchange offer were properly tendered prior to the expiration of the offering
period.

         The Company does not have, nor is it aware of, any other material
future commitments.

FORWARD-LOOKING STATEMENTS

         The foregoing discussion, as well as the other sections of this
Quarterly Report on Form 10-QSB, contains forward-looking statements that
reflect the Company's current views with respect to future events and financial
results. Forward-looking statements usually include the verbs "anticipates,"
"believes," "estimates," "expects," "intends," "plans," "projects,"
"understands" and other verbs suggesting uncertainty. The Company reminds
shareholders that forward-looking statements are merely predictions and
therefore inherently subject to uncertainties and other factors which could
cause the actual results to differ materially from the forward-looking
statements. Potential factors that could affect forward-looking statements
include, among other things, the Company's ability to identify, produce and
complete film projects that are successful in the marketplace, to arrange
financing, distribution and promotion for these projects on favorable terms in
various markets and to attract and retain qualified personnel.


                                       10
<PAGE>   11


PART II - OTHER INFORMATION


ITEM 1 - LEGAL PROCEEDINGS

         In the ordinary course of business, the Company has or may become
involved in disputes or litigation. On the basis of information available to it,
management believes such contingencies will not have a materially adverse impact
on the Company's financial position or results of operations.

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

(a)  EXHIBITS (NUMBERED IN ACCORDANCE WITH ITEM 601 OF REGULATION S-B)

         3.1      Restated Certificate of Incorporation of Registrant. (1)

         3.2      Bylaws of Registrant. (2)

         -----------
         (1)      Incorporated by reference to Form 10-KSB for the fiscal year
                  ended April 30, 1998.
         (2)      Incorporated by reference to Form 10-K for the fiscal year
                  ended April 30, 1988.

(b)  FORMS 8-K

         None.


                                       11
<PAGE>   12


                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) 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.


Date:  March 20, 2001                       KINGS ROAD ENTERTAINMENT, INC.


                                            By: /s/David W. Dube
                                                ------------------------
                                                David W. Dube, President
                                                Chief Operating Officer

                                       12