<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 October 31, 2000      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 December 18, 2000, 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
                                                                   OCT. 31, 2000
                                                                   -------------
<S>                                                                <C>
ASSETS
   Cash and Cash Equivalents                                       $     54,840
   Inventories                                                          203,607
   Accounts Receivable                                                  277,286
   Due from Related Party                                                55,660
   Film Costs, net of amortization of $168,305,829                       57,693
   Theatrical Production Costs                                           43,165
   Prepaid Catalog Costs                                                361,031
   Other Prepaid Expenses and Deposits                                   30,820
   Fixed Assets                                                           6,280
   Investment in Subsidiary                                              51,000
                                                                   ------------
TOTAL ASSETS                                                       $  1,141,382
                                                                   ============

LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES
   Accounts Payable                                                     595,478
   Note Payable                                                          39,000
   Accrued Expenses                                                      47,584
   Deferred Revenue                                                         838
                                                                   ------------
     TOTAL LIABILITIES                                                  682,900

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                                                          (24,323,415)
                                                                   ------------
     TOTAL STOCKHOLDERS' EQUITY                                         458,482
                                                                   ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                         $  1,141,382
                                                                   ============
</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                          SIX MONTHS
                                                           ENDED OCT. 31,                       ENDED OCT. 31,
                                                        2000              1999              2000              1999
                                                    -----------       -----------       -----------       -----------
<S>                                                 <C>               <C>               <C>               <C>
REVENUES
  Feature Films                                     $   278,701       $   198,575       $   971,266       $   290,440
  Merchandise Catalog Sales                              92,750                 0            92,750                 0
  Theatrical Admissions                                  11,295                 0            11,295                 0
                                                    -----------       -----------       -----------       -----------
                                                        382,746           198,575         1,075,311           290,440

COSTS AND EXPENSES
  Costs Related to Revenue                              165,216            34,966           390,909            34,966
  Selling Expenses                                            0             3,756            35,585             5,207
  General & Administrative Expenses                     242,280           200,375           398,929           476,842
  Interest                                                  566            26,571               566            52,430
                                                    -----------       -----------       -----------       -----------
                                                        408,062           265,668           825,989           569,445
                                                    -----------       -----------       -----------       -----------
  OPERATING LOSS                                        (25,316)          (67,093)          249,322          (279,005)

OTHER INCOME (EXPENSES)
  Equity in Losses of Affiliates                              0          (958,768)                0        (1,196,617)
  Adjustment in Valuation of Other Investments                0          (150,000)                0          (250,000)
  Interest Income                                         1,890                 0             7,668               413
  Gain From Cancellation of Indebtedness                126,313                 0           126,313                 0
                                                    -----------       -----------       -----------       -----------
                                                        128,203        (1,108,768)          133,981        (1,446,204)

  INCOME (LOSS) BEFORE INCOME TAXES                     102,887        (1,175,861)          383,303        (1,725,209)

Provision for Income Taxes                                    0               136             1,600               246
                                                    -----------       -----------       -----------       -----------

  NET INCOME (LOSS)                                 $   102,887       ($1,175,997)      $   381,703       ($1,725,455)
                                                    ===========       ===========       ===========       ===========

  Net Income (Loss) Per Share - Basic               $      0.03       ($     0.34)      $      0.11       ($     0.50)
                                                    ===========       ===========       ===========       ===========

  Weighted Average Number of Common
  Shares - Basic                                      3,487,390         3,482,019         3,487,390         3,478,177
                                                    ===========       ===========       ===========       ===========

  Net Income (Loss) Per Share - Diluted             $      0.03       ($     0.34)      $      0.11       ($     0.50)
                                                    ===========       ===========       ===========       ===========

  Weighted Average Number of Common
  Shares and Common Share Equivalents -
  Diluted                                             3,487,390         3,482,019         3,487,390         3,478,177
                                                    ===========       ===========       ===========       ===========
</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 SIX MONTHS
                                                                       ENDED OCTOBER 31,
                                                                    2000              1999
                                                                 -----------       ------------
<S>                                                              <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net Income (Loss)                                           $   381,703       ($1,725,455)
     Adjustments to reconcile Net Income (Loss) to Net Cash
     Provided by (Used in) Operating Activities:
          Depreciation and Amortization                               59,785            37,223
          Equity in Losses of Affiliates                                   0         1,196,617
          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                (177,328)          167,648
          (Increase) in Inventory                                   (203,607)                0
          (Increase) in Amount Due from Related Party                      0           (93,210)
          (Increase) Decrease in Prepaid Expenses                   (348,554)            2,983
          (Increase) in Security Deposits                            (28,384)                0
          (Increase) Decrease in Other Assets                           (446)           87,774
          Increase (Decrease) in Accounts Payable                    464,994           (19,565)
          Decrease in Accrued Expenses                                     0           (59,428)
          (Decrease) in Deferred Revenue                              (1,062)           (4,500)
                                                                 -----------       -----------
     NET CASH AND CASH EQUIVALENTS PROVIDED BY
     OPERATING ACTIVITIES                                             20,788           840,087

CASH FLOWS FROM INVESTING ACTIVITIES:
     Purchases of Other Investments                                  (51,000)       (1,250,000)
     Gross Additions to Film Cost                                          0           (50,154)
     Theater Production Costs                                        (43,165)                0
     Disposal of Fixed Assets                                          4,058             1,312
                                                                 -----------       -----------
     NET CASH AND CASH EQUIVALENTS USED
     IN INVESTING ACTIVITIES                                         (90,107)       (1,298,842)

CASH FLOWS FROM FINANCING ACTIVITIES:
     Issuance of Stock                                                     0           161,908
     Issuance of Note Payable                                         39,000           250,000
                                                                 -----------       -----------
     NET CASH AND CASH EQUIVALENTS PROVIDED
     BY FINANCING ACTIVITIES                                          39,000           411,908
                                                                 -----------       -----------
NET DECREASE IN CASH AND CASH EQUIVALENTS                            (30,319)          (46,847)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                      85,159            55,583
                                                                 -----------       -----------
CASH AND CASH EQUIVALENTS AT END OF PERIOD                       $    54,840       $     8,736
                                                                 ===========       ===========
</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 October 31, 2000 and the results of operations and cash flows for
the six month periods ended October 31, 2000 and 1999 have been included.

The results of operations for the three month period ended October 31, 2000 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 film projects actively in development at October 31, 2000.

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>

                                               Six Months Ended  Six Months Ended
                                                 Oct. 31, 2000    Oct. 31, 1999
                                               ----------------  ----------------
      <S>                                      <C>               <C>
      Computed Expected Tax at Statutory Rate      $ 129,781       ($260,590)
      State and Local Taxes                            1,600             112
      Foreign Taxes                                        0             134
      Valuation Allowance                           (129,781)        260,590
                                                     -------         -------
                                                      $1,600            $246
                                                     =======         =======
</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 2000 and 2002) and net operating
loss carryforwards of approximately $19,496,000 (expiring between 2001 and 2016)
to offset future income tax liabilities.



                                       5
<PAGE>   6


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


NOTE C - INCOME TAXES (CONTINUED)

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:

<TABLE>
<CAPTION>

                                                              As Of
                                                         October 31,2000
                                                         ---------------
        <S>                                              <C>
         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
                                                            ===========
</TABLE>

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
project, establishing a partnership or joint venture with another film
production company or an outright sale of the 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 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 the
sellers. 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 and a material decrease in the trading price of Immediate's
common stock. 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, to date, has received
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 the generated revenues.



                                       7
<PAGE>   8

RESULTS OF OPERATIONS

THE THREE MONTHS ENDED OCTOBER 31, 2000 VS. THE THREE MONTHS ENDED OCTOBER 31,
1999

     For the quarter ended October 31, 2000, total revenues were $382,746 as
compared to $198,575 for the quarter ended October 31, 1999. The increase of
$184,171 principally related to merchandise catalog sales resulting from the
Company's acquisition of the common stock of Animal Town, Inc. on August 31,
2000 and increased royalties on the Company's feature film library.

     Costs related to revenues were $165,216 for the quarter ended October 31,
2000 as compared to $34,966 during the quarter ended October 31, 1999. This
increase of $130,250 principally related to merchandise catalog product costs
and amortization costs relating to certain feature films. General and
administrative costs increased to $242,280 for the quarter ended October 31,
2000 compared to $200,375 for the quarter ended October 31, 1999, an increase of
$41,905 or approximately 21%. The increase resulted principally from additional
full-time personnel hired during the quarter ended October 31, 2000 to handle
the Company's increased business activities. Interest expense during the quarter
ended October 31, 2000 was $566 compared to $26,571 during the quarter ended
October 31, 1999, a decrease of $26,005, resulting from the Company's repayment
of substantially all of its outstanding notes payable.

     During the quarter ended October 31, 2000, the Company had no equity in the
losses of affiliates or adjustments in the valuation of its investments. During
the quarter ended October 31, 1999, equity in losses of affiliates was $958,768
reflecting the Company's share of losses incurred by Immediate. During the same
period, the Company recorded a decrease adjustment in the valuation of its
investment in a joint venture of $150,000. The Company had interest income of
$1,890 for the quarter ended October 31, 2000 compared to no interest income
during the quarter ended October 31, 1999.

     The Company recorded a gain from the cancellation of certain indebtedness
relating to the Immediate transaction during the quarter ended October 31, 2000.
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 quarter ended October 31, 2000, the Company reached a new agreement
with the debtholders, who were affiliates of 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 quarter ended October 31, 1999,
the Company had no comparable transactions.

     The Company had net income of $102,887 for the quarter ended October 31,
2000 compared to a net loss of $1,175,997 for the quarter ended October 31,
1999. The increase in net income resulted primarily from (i) increased revenues
during the quarter ended October 31, 2000, as discussed above, (ii) higher
profit margins on the Company's business activities, resulting in a reduced
operating loss, (iii) the equity in losses of affiliates and adjustments made in
the valuation of certain investments recorded during the quarter ended October
31, 1999, for which there were no comparable losses during the quarter ended
October 31, 2000 and (iv) a gain from the cancellation of certain indebtedness
relating to the Immediate transaction during the quarter ended October 31, 2000,
for which there was no comparable gain during the quarter ended October 31,
1999. During the quarters ended October 31, 2000 and 1999, the Company had no
significant provision for income taxes.


                                       8
<PAGE>   9


THE SIX MONTHS ENDED OCTOBER 31, 2000 VS. THE SIX MONTHS ENDED OCTOBER 31, 1999

     For the six months ended October 31, 2000, total revenues were $1,075,311
as compared to $290,440 for the six months ended October 31, 1999. The increase
of $784,871 principally related to (i) the sale of the Company's rights to
"Ticker", a feature film project that had been developed by the Company, (ii)
increased foreign distribution revenues from feature films in the Company's film
library and (iii) merchandise catalog sales resulting from the Company's
acquisition of Animal Town, Inc. on August 31, 2000.

     Costs related to revenue were $390,909 for the six months ended October 31,
2000 as compared to $34,966 during the six months ended October 31, 1999. This
increase of $355,943 principally related to merchandise catalog product costs
and amortization costs relating to certain feature films. General and
administrative costs decreased to $398,929 for the six months ended October 31,
2000 from $476,842 for the six months ended October 31, 1999, a decrease of
$77,913 or approximately 16%. The decrease resulted principally from decreased
financing costs associated with a convertible promissory note that was
outstanding during the six months ended October 31, 1999 and was repaid on
February 15, 2000. Interest expense during the six months ended October 31, 2000
was $566 compared to $52,430 during the six months ended October 31, 1999, a
decrease of $51,864, resulting from the Company's repayment of substantially all
its outstanding notes payable.

     During the six months ended October 31, 2000, the Company had no equity in
the losses of affiliates or adjustments in the valuation of its investments.
During the six months ended October 31, 1999, equity in losses of affiliates was
$1,196,617 reflecting the Company's share of losses incurred by Immediate.
During the same period, the Company recorded a decrease adjustment in the
valuation of its investment in a joint venture of $250,000. The Company had
interest income of $7,668 for the six months ended October 31, 2000 compared to
interest income of $413 during the six months ended October 31, 1999.

     The Company recorded a gain from the cancellation of certain indebtedness
relating to the Immediate transaction during the six months ended October 31,
2000. 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 three months ended October 31, 2000, the Company reached a new
agreement with the debtholders, who were affiliates of 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 six months ended October
31, 1999, the Company had no comparable transactions.

     The Company had net income of $381,703 for the six months ended October 31,
2000 compared to a net loss of $1,725,455 for the six months ended October 31,
1999. The increase in net income resulted primarily from (i) increased revenues
during the six months ended October 31, 2000, as discussed above, (ii) higher
profit margins on the Company's business activities, resulting in operating
income for the six months ended October 31, 2000 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
six months ended October 31, 1999 for which there were no comparable losses
during the six months ended October 31, 2000 and (iv) a gain from the
cancellation of certain indebtedness relating to the Immediate transaction
during the six months ended October 31, 2000, for which there was no comparable
gain during the six months ended October 31, 1999. During the six months ended
October 31, 2000 and 1999, the Company had no significant provision for income
taxes.


                                       9
<PAGE>   10

LIQUIDITY AND CAPITAL RESOURCES

     The Company's principal source of working capital during the three and six
month periods ended October 31, 2000 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 film scripts, 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 film scripts, 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. Except for the financing of new film production costs, the
Company believes it has sufficient working capital to maintain all of its
business activities.

     For the six months ended October 31, 2000, the Company's net cash flow
provided by operating activities was $20,788 compared to net cash flow of
$840,087 for the comparable six 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 six
months ended October 31, 1999 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 $1,298,842 during the
six months ended October 31, 1999 to $90,109 during the six months ended October
31, 2000. At October 31, 2000, the Company had cash and cash equivalents of
$54,840 compared to $8,736 at October 31, 1999.

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-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 substantially all of the Animal Town, Inc. creditors will
accept the exchange offer prior to its expiration.

     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 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)

     10.1 Letter Agreement dated July 20, 2000 between Registrant and C. Timothy
          Ranney. (3)

     10.2 Stock Purchase Agreement dated as of August 31, 2000 between
          Registrant and Kenneth Kolsbun. (3)

     27   Financial Data Schedule. (3)

     ---------------
     (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.
     (3)  Filed electronically with Securities and Exchange Commission, omitted
          in copies distributed to shareholders or other persons.

(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:  December 18, 2000                  KINGS ROAD ENTERTAINMENT, INC.


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