UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   ----------

                                   FORM 10-QSB

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

                For the quarterly period ended June 30, 2007; or

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

                         Commission File Number: 0-32323


                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
        (Exact name of small business issuer as specified in its charter)

           Nevada                                                20-1217659
(State or other Jurisdiction of                               (I.R.S. Employer
Incorporation or Organization)                               Identification No.)

                       1151 Harbor Bay Parkway, Suite 202
                                Alameda, CA 94502
                    (Address of principal executive offices)

                                 (510) 814-3778
                (Issuer's telephone number, including area code)

                           MOTORSPORTS EMPORIUM, INC.
                 7525 East Williams Drive, Scottsdale, AZ 85255
             (Former name and address, if changed since last report)

     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 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 [ ]

     Indicate  by check mark  whether  the  registrant  is a shell  company  (as
defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

     The number of shares  outstanding of the issuer's common stock,  $0.001 par
value, as of August 31, 2007 was 29,535,959 shares.

     Transitional Small Business Disclosure Format: Yes [ ] No [X]
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                              Report on Form 10-QSB

                       For the Quarter Ended June 30, 2007

                                      INDEX
                                                                            Page
                                                                            ----

PART I - FINANCIAL INFORMATION..............................................  3

     Item 1. Financial Statements...........................................  3

          Consolidated Balance Sheet .......................................  3

          Consolidated Statements of Operations.............................  4

          Consolidated Statements of Stockholder's Equity...................  5

          Consolidated Statements of Cash Flows.............................  6

          Notes.............................................................  7

     Item 2. Management's Discussion and Analysis or Plan of Operation...... 21

     Item 3. Controls and Procedures........................................ 28

PART II - OTHER INFORMATION................................................. 28

     Item 1. Legal Proceedings.............................................. 28

     Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.... 28

     Item 3. Defaults Upon Senior Securities................................ 29

     Item 4. Submission of Matters to a Vote of Security Holders............ 29

     Item 5. Other Information.............................................. 29

     Item 6. Exhibits....................................................... 29

SIGNATURES.................................................................. 30

                                       2
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                      (FORMERLY MOTORSPORTS EMPORIUM, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                      CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                        June 30, 2007        December 31, 2006
                                                                        -------------        -----------------
                                                                         (Unaudited)
<S>                                                                       <C>                   <C>
                                     ASSETS

Cash                                                                      $    30,292           $     7,200
  Accounts receivable                                                              --                   267
  Inventory                                                                        --                   922
  Other current assets                                                          5,500                11,675
                                                                          -----------           -----------
      Total current assets                                                     35,792                20,064
                                                                          -----------           -----------
Fixed assets, net                                                               3,428                 6,578
Other assets                                                                    5,372                    --
Assets held for sale                                                               --                11,914
Intangible assets, net                                                          9,385                10,750
Goodwill                                                                    2,307,355                    --
                                                                          -----------           -----------
      Total assets                                                        $ 2,361,332           $    49,306
                                                                          ===========           ===========

                  LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)
LIABILITIES
  Accounts payable and accrued expenses                                   $   107,424           $   273,454
  Accrued expenses - related parties                                          117,255               114,000
  Notes payable, net                                                          194,998                    --
  Notes payable to shareholders, net                                        1,039,080               366,920
  Derivative Liability                                                        351,817                    --
                                                                          -----------           -----------
      Total current liabilities                                             1,810,574               754,374
                                                                          -----------           -----------
      Total liabilities                                                     1,810,574               754,374
                                                                          -----------           -----------

MINORITY INTEREST                                                               8,606                    --

STOCKHOLDERS' EQUITY (DEFICIT)
  Preferred A stock, $250 par value, 10,000 shares authorized;
   96 shares issued and outstanding                                            24,000                24,000
  Preferred C stock, no par value, 3,000,000 shares authorized;
   200,000 shares issued and outstanding                                       10,000                10,000
  Common stock; $.001 par value, 500,000,000 shares authorized;
   28,399,486 and 2,979,355 issued and outstanding                             28,400                 2,979
  Additional paid-in capital                                                6,671,307             4,623,949
  Stock subscription receivable                                                    --                (1,305)
  Accumulated deficit - Prior to reentering development stage              (5,534,336)           (5,364,691)
  Accumulated deficit - From inception of reentering development
   stage on 4/1/2007                                                         (657,219)                   --
                                                                          -----------           -----------
      Total stockholders' equity (deficit)                                    542,152              (705,068)
                                                                          -----------           -----------
      Total liabilities and stockholders' equity (deficit)                $ 2,361,332           $    49,306
                                                                          ===========           ===========
</TABLE>

     See accompanying notes to condensed consolidated financial statements.

                                       3
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                      (FORMERLY MOTORSPORTS EMPORIUM, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                                 Cumulative
                                                                                                                   Since
                                                                                                                 Reentering
                                                        Three Months Ended             Six Months Ended         Deveplopment
                                                            June 30,                       June 30,                 Stage
                                                   --------------------------     --------------------------      4/1/2007 -
                                                      2007           2006            2007           2006          6/30/2007
                                                   -----------    -----------     -----------    -----------     -----------
<S>                                                <C>            <C>             <C>            <C>             <C>
Retail sales                                       $        --    $        --     $        --    $        --     $        --
Cost of sales                                               --             --              --             --              --
                                                   -----------    -----------     -----------    -----------     -----------
      Gross profit                                          --             --              --             --              --
                                                   -----------    -----------     -----------    -----------     -----------

Operating expenses:
  Selling, general and administrative                  157,610        342,083         325,805        662,669         157,610
  Depreciation and amortization                            916          2,261           2,656          3,271             916
                                                   -----------    -----------     -----------    -----------     -----------
      Total operating expenses                         158,526        344,344         328,461        665,940         158,526
                                                   -----------    -----------     -----------    -----------     -----------
Operating loss                                        (158,526)      (344,344)       (328,461)      (665,940)       (158,526)
                                                   -----------    -----------     -----------    -----------     -----------
Other income (expense):
  Interest income                                           29              8              29             48              29
  Interest expense                                    (172,644)        (7,184)       (180,286)       (14,351)       (172,644)
  Rapid Funding settlement expense                          --        (40,496)             --        (40,496)             --
  Gain on extinguishment of debt                        27,735          3,949          33,231          3,949          27,735
  Loss on Currency Exchange                               (351)            --            (351)            --            (351)
  Loss on Disposal of Assets                            (4,178)            --          (4,178)            --          (4,178)
  Change in fair value of derivative liability        (351,817)            --        (351,817)            --        (351,817)
  Minority interest in net loss of subsidiary            6,394             --           6,394             --           6,394
  Other income (expense)                                (3,804)            33          (3,698)         5,836          (3,804)
                                                   -----------    -----------     -----------    -----------     -----------
      Total other income (expense)                    (498,636)       (43,690)       (500,676)       (45,014)       (498,636)
                                                   -----------    -----------     -----------    -----------     -----------
Loss from continuing operations                       (657,162)      (388,034)       (829,137)      (710,954)       (657,162)
                                                   -----------    -----------     -----------    -----------     -----------
Discontinued operations:
  Income (loss) from operations of discontinued
   business                                                (57)         7,406          (1,901)         6,357             (57)
  Income (loss) on disposal of assets                       --             --           4,174             --              --
                                                   -----------    -----------     -----------    -----------     -----------
Income (loss) on discontinued operations                   (57)         7,406           2,273          6,357             (57)
                                                   -----------    -----------     -----------    -----------     -----------
Net loss                                           $  (657,219)   $  (380,628)    $  (826,864)   $  (704,597)    $  (657,219)
                                                   ===========    ===========     ===========    ===========     ===========
Net loss per common share - basic and diluted
  Continuing operations                            $     (0.06)   $     (0.23)    $     (0.11)   $     (0.49)
                                                   ===========    ===========     ===========    ===========
  Discontinued operations                          $     (0.00)   $      0.00     $      0.00    $      0.00
                                                   ===========    ===========     ===========    ===========
  Net loss per common share                        $     (0.06)   $     (0.23)    $     (0.11)   $     (0.49)
                                                   ===========    ===========     ===========    ===========
Weighted average common shares outstanding:
  Basic & Diluted                                   11,334,517      1,655,092       7,541,872      1,438,126
                                                   ===========    ===========     ===========    ===========
</TABLE>

     See accompanying notes to condensed consolidated financial statements.

                                       4
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                      (FORMERLY MOTORSPORTS EMPORIUM, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
            CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                                        Preferred Stock A        Preferred Stock C            Common Stock
                                                        -----------------      ---------------------      --------------------
                                                        Shares     Amount      Shares         Amount      Shares        Amount
                                                        ------     ------      ------         ------      ------        ------
<S>                                                     <C>      <C>         <C>            <C>        <C>             <C>
BALANCE, DECEMBER 31, 2005                                  96    $24,000          --        $    --     1,105,343     $ 1,105
                                                        ======    =======     =======        =======    ==========     =======
2006
  Common stock issued for services                                                                         802,080         802
  Preferred stock C issued for services                                       200,000         10,000
  Common stock issued for repayment of debt                                                                 95,000          95
  Common stock issued for stock option grants                                                              740,754         741
  Sale of stock for cash                                                                                   213,678         214
  Stock issued to executives, officers and directors                                                        22,500          23
  Net income (loss)
                                                        ------    -------     -------        -------    ----------     -------
Balance, December 31, 2006                                  96     24,000     200,000         10,000     2,979,355       2,979
                                                        ======    =======     =======        =======    ==========     =======
2007 (UNAUDITED)
  Proceeds from stock subscriptions receivable
  Common stock issued for services                                                                       1,453,798       1,454
  Common stock issued for repayment of debt                                                              2,699,772       2,700
  Common stock issued for stock option grants                                                              478,721         479
  Common stock issued for asset purchase                                                                20,000,000      20,000
  Sale of stock for cash                                                                                   787,840         788
  Warrant Options
  Beneficial Conversion Feature
  Net income (loss)
                                                        ------    -------     -------        -------    ----------     -------
Balance, June 30, 2007 (Unaudited)                          96    $24,000     200,000        $10,000    28,399,486     $28,400
                                                        ======    =======     =======        =======    ==========     =======

                                                                                                       Accumulated
                                                                                        Accumulated      Deficit
                                                                                          Deficit         after
                                                                                         Prior to       reentering
                                                                          Stock         reentering     development
                                                          Paid-In     Subscriptions     development      stage on
                                                          Capital       Receivable         stage         4/1/2007       Total
                                                          -------       ----------         -----         --------       -----
BALANCE, DECEMBER 31, 2005                             $  3,833,665     $ (26,775)      $(4,174,980)    $      --    $  (342,985)
                                                        ===========    ==========       ===========     =========    ===========
2006
  Common stock issued for services                          301,578                                                      302,380
  Preferred stock C issued for services                                                                                   10,000
  Common stock issued for repayment of debt                   6,555                                                        6,650
  Common stock issued for stock option grants               444,198        25,470                                        470,409
  Sale of stock for cash                                     33,924                                                       34,138
  Stock issued to executives, officers and directors          4,028                                                        4,051
  Net income (loss)                                                                      (1,189,711)                  (1,189,711)
                                                        -----------    ----------       -----------     ---------    -----------
Balance, December 31, 2006                                4,623,949        (1,305)       (5,364,691)           --       (705,068)
                                                        ===========    ==========       ===========     =========    ===========
2007 (UNAUDITED)
  Proceeds from stock subscriptions receivable                3,071         1,305                                          4,376
  Common stock issued for services                           89,229                                                       90,683
  Common stock issued for repayment of debt                 109,364                                                      112,064
  Common stock issued for stock option grants                30,219                                                       30,698
  Common stock issued for asset purchase                  1,280,000                                                    1,300,000
  Sale of stock for cash                                     19,212                                                       20,000
  Warrant Options                                           116,961                                                      116,961
  Beneficial Conversion Feature                             399,302                                                      399,302
  Net income (loss)                                                                        (169,645)     (657,219)      (826,864)
                                                        -----------    ----------       -----------     ---------    -----------
Balance, June 30, 2007 (Unaudited)                      $ 6,671,307    $       --       $(5,534,336)    $(657,219)   $   542,152
                                                        ===========    ==========       ===========     =========    ===========
</TABLE>

     See accompanying notes to condensed consolidated financial statements.

                                       5
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                      (FORMERLY MOTORSPORTS EMPORIUM, INC.)
                          (A DEVELOPMENT STAGE COMPANY)
            UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                                            Cumulative
                                                                                                              Since
                                                                                                            Reentering
                                                                                Six Months Ended           Deveplopment
                                                                                    June 30,                  Stage
                                                                        -----------------------------        4/1/2007 -
                                                                           2007              2006            6/30/2007
                                                                        -----------       -----------       -----------
<S>                                                                     <C>               <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net loss from continuing operations                                   $  (829,137)      $  (710,954)      $  (657,162)
  Adjustments to reconcile net income to net cash
   provided by operating activities:
     Depreciation and amortization                                            2,656             9,180               916
     Amortization of debt discounts & beneficial conversion feature         122,667             3,531           122,667
     Non-cash Gain on extinguishment of debt                                (37,382)               --           (37,382)
     Change in fair value of derivative liability                           351,817                --           351,817
     Non-cash loss on disposal of fixed assets                                4,178                --             4,178
     Employee stock based compensation                                       30,699            64,488                --
     Common stock issued to third parties for services                       86,973           152,234            75,839
     Minority interest in net loss of subsidiary                             (6,394)               --            (6,394)
  Changes in assets and liabilities:
     Accounts receivable                                                        267             1,087                --
     Inventory                                                                  922             9,572                --
     Prepaid expenses                                                           803            25,575           (10,872)
     Deferred revenue                                                       (13,590)               --           (15,001)
     Accounts payable and accrued expenses                                  (42,120)          116,321            11,164
     Accrued expenses - related parties                                       3,255                --             3,255
                                                                        -----------       -----------       -----------
          Net cash used in continuing operations                           (324,386)         (328,966)         (156,975)
          Net cash provided by (used in) discontinued operations             (5,238)            6,357               (57)
                                                                        -----------       -----------       -----------
          Net cash used in operating activities                            (329,624)         (322,609)         (157,032)
                                                                        -----------       -----------       -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Expenditures for intangible assets                                       (992,495)               --          (992,495)
  Purchases of fixed assets                                                  (3,589)           (2,029)           (3,589)
                                                                        -----------       -----------       -----------
          Net cash used in continuing operations                           (996,084)           (2,029)         (996,084)
          Net cash provided by (used in) discontinued operations             19,425                --                --
                                                                        -----------       -----------       -----------
          Net cash used in investing activities                            (976,659)           (2,029)         (996,084)
                                                                        -----------       -----------       -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from related party accounts payable                            1,000,000                --         1,000,000
  Proceeds from Notes Payable                                               310,000                --           107,530
  Repayments of Notes Payable                                               (20,000)          (15,000)               --
  Minority Interest                                                          15,000                --            15,000
  Proceeds from issuance of common stock                                     24,375            15,000                --
  Proceeds from exercise of stock options                                        --           323,033                --
                                                                        -----------       -----------       -----------
          Net cash provided by financing activities                       1,329,375           323,033         1,122,530
                                                                        -----------       -----------       -----------

INCREASE (DECREASE) IN CASH                                                  23,092            (1,605)          (30,586)

CASH, beginning of period                                                     7,200            23,960            60,878
                                                                        -----------       -----------       -----------
CASH, end of period                                                          30,292            22,355            30,292
                                                                        ===========       ===========       ===========
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest                                                  $        --       $        --       $        --
                                                                        ===========       ===========       ===========
Cash paid for income taxes                                              $        --       $        --       $        --
                                                                        ===========       ===========       ===========
Non-cash financing and investing activities:
  Issuance of common stock for accrued expense payment                  $    86,528       $        --       $    81,528
  Issuance of common stock for prepaid expense                          $        --       $    75,000       $        --
  Issuance of common stock for purchase of asset                        $ 1,300,000       $        --       $ 1,300,000
</TABLE>

During 2007,  the Company  issued a convertible  note for  $1,000,000 and common
stock valued at $1,300,000 in connection with the  acquisition of  International
Building  Technologies,  Inc.  The Company  received  assets  valued at $11,592,
assumed  liabilities of $3,947,  and minority interest of $15,000,  resulting in
Goodwill of $2,307,355.

     See accompanying notes to condensed consolidated financial statements.

                                       6
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


NOTE 1: BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared by the Company  pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  have been  condensed or omitted in accordance  with such
rules and  regulations.  The  information  furnished  in the  interim  condensed
consolidated  financial  statements  includes normal  recurring  adjustments and
reflects all adjustments, which, in the opinion of management, are necessary for
a fair presentation of such financial  statements.  Although management believes
the disclosures  and information  presented are adequate to make the information
not  misleading,  it is  suggested  that these  interim  condensed  consolidated
financial  statements  be read in  conjunction  with the  Company's  most recent
audited financial statements and notes thereto included in its December 31, 2006
Annual Report on Form 10-KSB.  Operating results for the three months ended June
30, 2007 are not necessarily  indicative of the results that may be expected for
the year ending December 31, 2007.

NOTE 2: MATERIAL EVENTS

RE-ENTERING DEVELOPMENT STAGE

On April 1, 2007, the company  re-entered the development stage. The company has
changed  from  the  motor  sports  business  to the  business  of  building  and
construction of lightweight  panels. The Company has devoted most of its efforts
to establishing a new business, raising capital, establishing sources of supply,
acquiring property, plant, equipment, and other operating assets.

CHANGE OF CORPORATE NAME

On May 21, 2007, the Board of Directors and the majority of the  shareholders of
the Company passed a resolution to amend the Company's articles of incorporation
to change its name to  International  Building  Technologies  Group,  Inc.  Such
amendment became effective on August 6, 2007.

REVERSE STOCK SPLIT

Effective  October  31,  2006,  the  Company  initiated  a reverse  split of the
Company's  common  stock on a ratio of one share for every 225  shares of common
stock,  without  decreasing the number of authorized  shares of common stock and
without changing the par value of the common stock. All share counts included in
this Form 10-QSB have been retroactively restated for this stock split.

CHANGE IN DIRECTORS

On April  13,  2007,  the  Company  elected  Mr.  Kenneth  Yeung to the Board of
Directors who is also the President and major shareholder of the company.

Effective on April 16, 2007,  David W.  Keaveney  resigned from his positions as
Chief Executive Officer, Chief Financial Officer and Director of the Company.

Effective on April 16, 2007,  Rhonda  Keaveney  resigned  from her  positions as
Chief Operating Officer, Secretary and Director of the Company.

                                       7
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


On April  16,  2007 Mr.  Kenneth  Yeung was  elected  as the  interim  principal
Executive and Financial Officer of the company.

On May 30,  2007,  the Company  elected Mr. Peter Chin to the Board of Directors
and to the office of Corporate Secretary.

DISCONTINUED OPERATIONS

In the fourth  quarter  of 2006,  the  Company  discontinued  operations  of its
Scottsdale  Diecast  division due to increased  manufacturer's  prices,  slowing
retail sales and increased  competition  from online auction sites.  The Company
sold the  balance of its  inventory,  fixed  assets and a website.  The  Company
decided  to no  longer  focus its  efforts  in the die cast  business  primarily
because of increasing  inventory  costs and declining sales due, in part, to the
consolidation of the diecast industry.  The Company has subsequently disposed of
all assets  related to this  division in the first  quarter of 2007.  Prior year
financial  statements  for 2006 have been restated to present the  operations of
the  Scottsdale  Diecast  division as a  discontinued  operation.  For the three
months  ended  June  30,  2007,  there  was a net  loss  of $57 on  Discontinued
Operations  compared to a net income of $7,406 for the same period  during 2006.
For the six  months  ended  June 30,  2007,  there was a net income of $2,273 on
Discontinued  Operations  compared to a net income of $6,357 for the same period
during 2006.

NOTE 3: GOING CONCERN

The Company's  financial  statements  are prepared using  accounting  principles
generally  accepted  in the  United  States  of  America  applicable  to a going
concern,  which  contemplates  the  realization  of assets and  satisfaction  of
liabilities in the normal course of business.  The Company's  continuation  as a
going  concern is dependent  upon its ability to generate  sufficient  cash flow
from  operations  to meet  its  obligations  on a  timely  basis  and/or  obtain
financing as may be required.  As of June 30, 2007, the Company has incurred net
losses from  operations  prior to  reentering  the  development  stage and has a
stockholders'  deficit of  $5,534,336.  Since the  inception of  reentering  the
development  stage on April 1, 2007, the Company has a stockholders'  deficit of
$663,613  as of June 30,  2007.  The Company  has a working  capital  deficit of
$1,774,782 as of June 30, 2007.

During the next 12 months,  the Company's  foreseeable  cash  requirements  will
relate to continuing to develop the operations of its business,  maintaining its
good standing and making the requisite  filings with the Securities and Exchange
Commission,   and  the  payment  of  expenses   associated   with  reviewing  or
investigating  any  potential  business  venture.  The Company may  experience a
liquidity predicament and be required to raise additional capital. Historically,
it has relied upon internally  generated funds and funds from the sale of shares
of stock and loans from its  shareholders  and private  investors to finance its
operations and growth.  Management may raise  additional  capital through future
public or private offerings of the Company's stock or through loans from private
investors,  although  there can be no  assurance  that it will be able to obtain
such financing. The Company's failure to do so would have a material and adverse
affect upon it and its shareholders.

NOTE 4: COMMITMENTS AND CONTINGENCIES

LITIGATION

There is no threatened or pending litigation against the Company.  The following
lawsuit below was settled during the second quarter.

                                       8
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


On  April  16,  2007,  the  Company  settled  a  lawsuit  involving   X-Clearing
Corporation,  the Company's former transfer agent (as previously reported in the
Company's  Form 10-QSB for the quarter ended March 31,  2007).  The Company paid
X-Clearing  $32,000  and  approximately  $958 to Ikon for  costs of  copying  or
printing  transfer agent records.  Such amounts were accrued during the previous
years.

The Company is not aware of any  pending  claims or  assessments,  other than as
described  above,  which may have a  material  adverse  impact on the  Company's
financial position or results of operations.

NOTE 5: NOTES PAYABLE

On August 21, 2006, the Company issued a $250,000  convertible note payable to a
shareholder  and an  entity  owned  by  such  shareholder  in  exchange  for the
retirement of the shareholder's Series B preferred stock and all related accrued
interest.  See Note 9. On March 14, 2007,  the Note was amended with the monthly
payments of $5,000 or more deferred until June 1, 2007 and the due date extended
from August 30,  2007 to May 30,  2008.  At any time after  giving  notice,  the
Holder  has the option to convert  all or part of the  remaining  balance of the
note into common stock of the Company  based on 75% of the average of the lowest
five closing bid prices in the past 20 trading days  immediately  preceding such
conversion  so long as such  conversion  shall  not  exceed  4.99%  of the  then
outstanding  shares of common  stock of the Company.  Furthermore,  on March 26,
2007,  the Note was  bifurcated  into two  separate  notes with all prior unpaid
principal and interest  rolled up into these two notes.  The Company was current
with payments on these notes through June 30, 2007. During the quarter, the note
Holders converted a total of $91,971.17 of principal and interest payments.

On May 2, 2007, Motorsports Emporium, Inc.  ("Motorsports") entered into a Stock
Sale and Purchase  Agreement with Axia Group,  Inc.  ("Axia") and  International
Building  Technologies,  Inc. ("IBT"),  pursuant to which  Motorsports  acquired
50,000,000  shares of IBT common stock (or approximately 80% of IBT's issued and
outstanding  common  stock)  from  Axia for  consideration  consisting  of (i) a
$1,000,000  Convertible Note and (ii) 20,000,000  shares of Motorsports'  common
stock.  The  $1,000,000  Convertible  Note bears  interest at the rate of 8% per
annum and requires the following principal payments:

     (1)  $50,000 payable on or before November 1, 2007;
     (2)  $50,000 payable on or before May 1, 2008;
     (3)  $900,000 payable on or before May 1, 2010.

On May 8, 2007 the  Company  amended an  earlier  Promissory  Note for  $129,240
($121,920 in principal and $7,320 accrued interest). Furthermore, on May 8, 2007
the Company bifurcated the Note and entered into two separate Notes: (i) one for
$100,000 with 5% interest  pursuant to which the Company is obligated to make 24
monthly  principal and interest  payments of $4,387 commencing July 1, 2007 with
final  payment  July 1, 2009 and (ii) a second Note for $29,240 with 5% interest
pursuant  to which the Company is  obligated  to make 24 monthly  principal  and
interest  payments of $1,283  commencing July 1, 2007 with final payment July 1,
2009. At any time after giving notice,  the Holder has the option to convert all
or part of the accrued interest and remaining  principal of either note based on
70% of the  average  of the  lowest 5 closing  bid prices in the past 20 trading
days immediately preceding such conversion so long as the total number of shares
issued to Holder  will be such that the number of shares  beneficially  owned by
Holder will be less than 4.99% of the outstanding  common shares of the Company.
The Company  has  determined  that these  modified  terms are not  substantially
different than the original terms as defined in EITF 96-19:  DEBTOR'S ACCOUNTING
FOR A  MODIFICATION  OR  EXCHANGE  OF DEBT  INSTRUMENTS,  and,  therefore,  this
renegotiation did not result in the recognition of a gain or loss.

                                       9
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


On May 21, 2007 the Company entered into a $122,500  Secured  Promissory Note at
the  rate  of 11% per  annum  due  March  20,  2008.  Initially,  the  Company's
President,  Kenneth Yeung, personally borrowed the money and invested the amount
into the Company.  Due to a change in the business,  the Company  decided on May
21, 2007 to assume the note and entered into a promissory  note with the lender.
The Note is secured with the Preferred  Series C shares owned by the  President.
In connection with this transaction,  490,000 warrants to purchase shares of the
common stock of the Company at $0.25 were issued with an expiration  date of May
20,  2012.  The  warrants  issued  to the  investors  in  this  transaction  are
exercisable for a period of five years commencing  immediately after the date of
issuance at an exercise  price of $.25 per share.  Utilizing  the  Black-Scholes
valuation model and the following assumptions:  estimated volatility of 211.36%,
a contractual life of five years, a zero dividend rate, 4.79% risk free interest
rate,  and the fair  value of common  stock of $0.10 per share at date of grant,
the Company  determined  the allocated  fair value of the warrant to be $47,759.
The Company has recorded this amount as a debt  discount and is  amortizing  the
debt discount over the term of this Note. The  amortization is being recorded as
interest  expense and totaled $6,368 for the six months ended June 30, 2007, for
the three months ended June 30, 2007,  and for the period from inception to June
30,  2007.  As an  incentive  to the payee,  the  Company  will make  additional
payments of $122,500 on or by the due date unless (a) the  principal  is paid in
full on or before  September  20,  2007,  in which case the  additional  payment
incentive shall be reduced to $30,625 or (b) the principal is paid in full on or
before December 20, 2007, in which case the additional  payment  incentive shall
be reduced to $61,250. No payments were made during the second quarter.

On May 21, 2007,  the Company  entered into a  Convertible  Promissory  Note for
$30,000  paid no  later  than  March  20,  2008  with an  interest  rate of 11%.
Initially, the Company's President, Kenneth Yeung, personally borrowed the money
and invested the amount into the Company.  Due to a change in the business,  the
Company decided on May 21, 2007 to assume the note and entered into a promissory
note with the lender.  The Note is secured  with the  Preferred  Series C shares
owned by the President. In connection with this transaction, 120,000 warrants to
purchase the common stock of the Company at $.25 were issued with an  expiration
date of May 20, 2012. The warrants  issued to the investors in this  transaction
are exercisable for a period of five years commencing immediately after the date
of issuance at an exercise price of $.25 per share.  Utilizing the Black-Scholes
valuation model and the following assumptions:  estimated volatility of 211.36%,
a contractual life of five years, a zero dividend rate, 4.79% risk free interest
rate,  and the fair  value of common  stock of $0.10 per share at date of grant,
the Company  determined  the allocated  fair value of the warrant to be $11,696.
The Company has recorded this amount as a debt  discount and is  amortizing  the
debt discount over the term of this Note. The  amortization is being recorded as
interest  expense and totaled $1,559 for the six months ended June 30, 2007, for
the three months ended June 30, 2007,  and for the period from inception to June
30,  2007.  As an  incentive  to the payee,  the  Company  will make  additional
payments  of $30,000 on or by the due date unless (a) the  principal  is paid in
full on or before  September  20,  2007,  in which case the  additional  payment
incentive  shall be reduced to $7,500 or (b) the principal is paid in full on or
before December 20, 2007, in which case the additional  payment  incentive shall
be reduced to $15,000. No payments were made during the second quarter.

On May 21, 2007,  the Company  entered into a  Convertible  Promissory  Note for
$97,500 to be paid no later than May 20, 2008 with an  interest  rate of 11%. In
connection with this transaction,  390,000 warrants to purchase the common stock
of the Company at $.25 were issued with an expiration  date of May 21, 2012. The
warrants  issued to the  investors in this  transaction  are  exercisable  for a
period of five years  commencing  immediately  after the date of  issuance at an
exercise price of $.25 per share.  Utilizing the  Black-Scholes  valuation model
and the following  assumptions:  estimated  volatility of 211.36%, a contractual

                                       10
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


life of five years, a zero dividend rate, 4.79% risk free interest rate, and the
fair  value of common  stock of $0.10 per  share at date of grant,  the  Company
determined  the allocated  fair value of the warrant to be $38,012.  The Company
has recorded this amount as a debt discount and is amortizing  the debt discount
over the term of this Note.  The  amortization  is being  recorded  as  interest
expense and totaled $4,224 for the six months ended June 30, 2007, for the three
months ended June 30, 2007,  and for the period from inception to June 30, 2007.
As an  incentive  to the payee,  the Company  will make  additional  payments of
$97,500  on or by the due date  unless (a) the  principal  is paid in full on or
before November 20, 2007, in which case the additional  payment  incentive shall
be reduced to $24,375 or (b) the principal is paid in full on or before February
20, 2008, in which case the  additional  payment  incentive  shall be reduced to
$48,750. No payments were made during the second quarter.

On May 22, 2007 the  Company  entered  into a  Convertible  Promissory  Note for
$50,000  paid no later than  March 21,  2008 with 11%  interest  rate per annum.
Initially, the Company's President, Kenneth Yeung, personally borrowed the money
and invested the amount into the Company.  Due to a change in the business,  the
Company  decided  on May  22,  2007  to  assume  the  note  and  entered  into a
convertible   promissory   note  with  the  lender.   In  connection  with  this
transaction,  200,000  warrants to purchase  the common  stock of the Company at
$.25 were issued with an expiration date of May 21, 2012. The warrants issued to
the investors in this  transaction  are  exercisable  for a period of five years
commencing  immediately  after the date of issuance at an exercise price of $.25
per  share.  Utilizing  the  Black-Scholes  valuation  model  and the  following
assumptions:  estimated volatility of 211.36%, a contractual life of five years,
a zero  dividend  rate,  4.79% risk free  interest  rate,  and the fair value of
common  stock of $0.10 per share at date of grant,  the Company  determined  the
allocated fair value of the warrant to be $19,494. The Company has recorded this
amount as a debt discount and is  amortizing  the debt discount over the term of
this Note. The  amortization  is being recorded as interest  expense and totaled
$2,534 for the six months ended June 30,  2007,  for the three months ended June
30, 2007, and for the period from inception to June 30, 2007. As an incentive to
the payee, the Company will make additional payments of $50,000 on or by the due
date unless (a) the  principal is paid in full on or before  September 20, 2007,
in which case the additional  payment  incentive  shall be reduced to $12,500 or
(b) the principal is paid in full on or before  December 20, 2007, in which case
the additional  payment incentive shall be reduced to $25,000.  At any time, the
Payee may convert  all or part of the  remaining  principal  balance and accrued
interest into shares of the  Company's  Common Stock based on 50% of the average
of the lowest three  closing BID prices in the past 20 trading days  immediately
preceding such conversion so long as such conversions  shall not exceed 4.99% of
the then outstanding  common stock of the Company.  No payments were made during
the second quarter.

On May 24, 2007 the Company  entered into a Settlement  Agreement  for $4,000 to
settle an unpaid debt of $6,500. The Company paid this debt in full.

On May 24,  2007  Company  entered  into a  Settlement  Agreement  with a former
consultant for $5,000 to settle an unpaid consulting fee of $9,233.  The Company
issued  62,500 free trading  shares of common stock  (valued at $0.08) to settle
this debt in full.

On May 30, 2007, the Company  entered into a Settlement  Agreement with a former
consultant  for  $20,000  to settle an unpaid  consulting  fee of  $39,695.  The
Company issued 204,082 shares of free-trading common stock (priced at $0.098) to
settle this debt in full.

On June 1, 2007,  the Company  entered into a  Convertible  Promissory  Note for
$10,000 to be paid no later than June 1, 2008 with an  interest  rate of 11%. As
an incentive to the payee, the Company will make additional  payments of $10,000
on or by the due date  unless  (a) the  principal  is paid in full on or  before

                                       11
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


December  2,  2007,  in which case the  additional  payment  incentive  shall be
reduced  to $2,500 or (b) the  principal  is paid in full on or before  March 2,
2008, in which case the additional payment incentive shall be reduced to $5,000.
No payments were made during the second quarter.

On June 4, 2007,  the Company  entered into a Settlement  Agreement with a legal
consultant  for $22,000 to settle an unpaid  legal bill of $36,799.  The Company
paid $2,000 by check, issued 150,000 free trading shares of common stock (valued
at $9,000),  and issued  220,000  restricted  shares of common stock  (valued at
$11,000). The Company has paid this debt in full.

The unaudited Chart below summarizes the Notes Payable mentioned in Note 5:

<TABLE>
<CAPTION>
                             Terms                                                       Amount
                             -----                                                       ------
                                                                                       (Unaudited)
<S>                                                                                   <C>
5% Interest; principle of $29,240, monthly payments of $1,283; convertible to
common stock based on 70% of average price; due on 7/1/2009, net of unamortized
discount related to the beneficial conversion feature of $24,994                       $     4,246

10% Interest; principle of $173,750 monthly payments of $4,396; convertible to
common stock based on 75% of average price; due on 5/30/2008, net of unamortized
discounted related to the beneficial conversion feature of $138,916                         34,834

8% Interest; $50,000,000 before 11/1/2007; $50,000,000 before 5/1/2008; balance
due 5/1/2010; upon default - convertible to common stock based on 50% of average
price                                                                                    1,000,000
                                                                                       -----------
TOTAL NOTES PAYABLE TO SHAREHOLDERS                                                    $ 1,039,080
                                                                                       ===========
5% Interest; principle of $100,000 monthly payments of $4,387; convertible to
common stock based on 70% of average price; due on 7/1/2009, net of unamortized
discount related to the beneficial conversion feature of $85,479                       $    14,521

11%; principle of $50,000; convertible to common stock based on 50% of average
price; due on 3/21/2008, net of unamortized discount due to warrants of $16,960
and due to beneficial conversion feature of $27,246 200,000 warrants
excerciseable at $.025 per share expiring in 2012.                                           5,794

11% Interest; $122,500 incentive bonus unless paid  by certain deadlines; due
3/20/2008; 490,000 warrants excerciseable at $0.25 per share expiring in 2012.              81,109

11% Interest; $30,000 incentive bonus unless paid  by certain deadlines; due
3/20/2008; 120,000 warrants excerciseable at $0.25 per share expiring in 2012.              19,863

11% Interest; $97,500 incentive bonus unless paid  by certain deadlines; due
3/20/2008; 390,000 warrants excerciseable at $0.25 per share expiring in 2012.              63,711

11% Interest; $10,000 incentive bonus unless paid  by certain deadlines; due
6/01/2008                                                                                   10,000
                                                                                       -----------
TOTAL NOTES PAYABLE                                                                    $   194,998
                                                                                       ===========
</TABLE>

NOTE 6: RELATED PARTY TRANSACTIONS

After  selling  IBT to the  Company,  Axia  advanced  $10,675 to IBT for various
expenses of which $10,000 was repaid in the quarter.

                                       12
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


NOTE 7: COMMON STOCK

CONSULTING SERVICES

During the period ended June 30, 2007,  the Company issued  1,453,798  shares of
common stock valued $90,683 to consultants for contracted services rendered.  Of
this amount 566,283 shares of the Company's  common stock valued at $31,283 were
issued to parties in connection  with consulting  services  rendered in the past
but not paid. The balance of 887,515 shares of the Company's common stock valued
at $59,400 was issued to various  consultants for contracted  services  incurred
and paid during the period.

COMMON STOCK ISSUED FOR REPAYMENT OF DEBT

During the period ended June 30, 2007,  the Company  issued a total of 2,699,772
shares of common stock valued  $112,064 for payment and  settlement of debt. The
detail are as follows:

     -    During the first quarter 2007,  166,667 shares of the Company's common
          stock were issued to an officer for repayment of debt in lieu of cash.
          The shares were valued at $5000 and were issued at market price.
     -    On August 21, 2006,  the Company  issued a $250,000  convertible  note
          payable to a shareholder  and an entity owned by such  shareholder  in
          exchange for the  retirement of the  shareholder's  Series B preferred
          stock and all related accrued interest. See Note 9. On March 14, 2007,
          the Note was  amended  with the  monthly  payments  of  $5,000 or more
          deferred  until June 1, 2007 and the due date extended from August 30,
          2007 to May 30, 2008. At any time after giving notice,  the Holder has
          the option to convert all or part of the remaining balance of the note
          into common  stock of the  Company  based on 75% of the average of the
          lowest five closing bid prices in the past 20 trading days immediately
          preceding such conversion so long as such conversion  shall not exceed
          4.99% of the then  outstanding  shares of common stock of the Company.
          During the second  quarter,  the note  Holders we issued  1,979,771 of
          common  shares  valued at $70,531  for the  payment of  principal  and
          interest on debt.
     -    During the second  quarter of 2007,  the Company  also issued  333,334
          shares of common  stock valued at $23,333 to a third party to cancel a
          debt in the amount of $10,000.
     -    During the second  quarter of 2007,  the Company  also issued  220,000
          shares of common  stock valued at $13,200 to a third party to cancel a
          debt in the amount of $11,000.

COMMON STOCK ISSUED FOR STOCK OPTION GRANTS

During the first quarter,  the Company granted stock options to purchase 478,721
common  shares to its  employees  which were fully  exercised for $30,698 in the
same quarter.

COMMON STOCK ISSUED FOR ASSET PURCHASE

On May 2, 2007,  the Company  entered into a Stock Sale and  Purchase  Agreement
with Axia Group,  Inc. ("Axia") and International  Building  Technologies,  Inc.
("IBT") and its Hong Kong subsidiary  International  Building  Technologies Co.,
Ltd. ("IBT LTD"),  pursuant to which Motorsports  acquired  50,000,000 shares of
IBT's common stock (or approximately 80% of IBT's issued and outstanding  common
stock) from Axia for consideration of $2,300,000  consisting of a (i) $1,000,000
Convertible  Note and (ii)  20,000,000  common shares of  Motorsports  valued at
$1,300,000.  The value of the  20,000,000  common shares  issued was  determined

                                       13
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


based on the average market price of  Motorsport's  common shares over the 2-day
period before and the terms of the acquisition were agreed to and announced.

COMMON STOCK ISSUED FOR CASH

During the first  quarter the Company  sold stock to an investor  for $20,000 in
cash. The investor was issued 787,840 common shares.

NOTE 8:  STOCK OPTIONS & WARRANTS

The Company's  stock options  awarded to employees  contain a variable  exercise
price that is dependent  upon the market price of the Company's  common stock at
the date of exercise  and,  therefore,  are  accounted  for as variable  awards.
During the second quarter of fiscal 2007 and 2006, the Company recognized $0 and
$32,235, respectively, of compensation expense associated with stock options.

All share grants were valued based on quoted  market prices on the date of grant
and all amounts were expensed during the first quarter of fiscal 2007.

As of June 30, 2007 the Company had no stock options outstanding.

The  following  chart  summarizes  the unaudited  Stock Options  activity of the
Company as of period ended June 30, 2007.

                                                         Weighted
                                                          Average
               Date                     Shares         Exercise Price
               ----                     ------         --------------
     Outstanding at 12/31/06                --                 --
     Granted                           478,721           $   0.05
     Excercised                       (478,421)          $   0.05
     Expired                                --                 --
                                      --------           --------
     Outstanding at 06/30/07                --                 --
                                      ========           ========

The Company issued  warrants in connection  with the promissory  notes it signed
during the quarter ended June 30, 2007.  Each warrant gives the holder the right
to subscribe to and purchase from International Building Technologies,  Inc. one
share of the Company's  common  stock,  no par value,  exercisable  at $0.25 per
share any time after date of issuance and is set to expire five years after date
of  issuance.  During  the  quarter,  the  Company  issued a total of  1,200,000
warrants.

The fair value of each warrant award is estimated on the date of grant using the
Black-Scholes  option  valuation  model that uses the  assumptions  noted in the
following  table.  Expected  volatilities  are  based on  volatilities  from the
Company's  traded  common stock.  The expected  term of the warrants  granted is
estimated at the contractual term as noted in the individual  option  agreements
and represents  the period of time that the warrants  granted are expected to be
outstanding.  The risk-free rate for the periods within the contractual  life of
the  option  is based on the U.S.  Treasury  bond  rate in effect at the time of
grant for bonds with maturity dates at the estimated term of the options.

                                       14
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


                                                  2007
                                              -------------
     Expected volatility                             211.36%
     Weighted-average volatility                      52.84%
     Expected dividends                       $          --
     Expected term (in years)                             5
     Risk-free rate                            4.71% - 4.76%

The following  unaudited table  summarizes the warrants the Company issued as of
the period ended June 30, 2007.

<TABLE>
<CAPTION>
                                                                          Weighted-Average
                                                                             Remaining        Aggregate
                                                        Weighted-Average    Contractual       Intrinsic
          Options                           Shares       Exercise Price        Term             Value
          -------                           ------       --------------        ----             -----
<S>                                      <C>               <C>               <C>              <C>
Outstanding at December 31, 2006                 --          $  --
Granted                                   1,200,000          $0.25
Exercised                                        --          $  --
Forfeited or expired                             --          $  --
                                          ---------
Outstanding at June 30, 2007              1,200,000          $0.25                 5          $ 116,961
                                          =========          =====             =====          =========
Exercisable at June 30, 2007              1,200,000          $0.25                 5          $ 116,961
                                          =========          =====             =====          =========
</TABLE>

NOTE 9: RETIREMENT OF SERIES B PREFERRED STOCK IN EXCHANGE FOR NOTE PAYABLE

On August 21, 2006, all of the outstanding  shares of Series B Preferred  Stock,
consisting of shares held by our CEO, a former  director and a shareholder  were
retired in  exchange  for cash  compensation  of $1 each to the CEO and a former
director and a convertible note payable in the principal amount of $250,000 to a
shareholder.  The  Company  has  determined  that  this  transaction  meets  the
definition of an extinguishment  based on the guidance  contained in EITF 96-19:
DEBTOR'S  ACCOUNTING FOR A MODIFICATION  OR EXCHANGE OF DEBT  INSTRUMENTS,  and,
therefore,  the  Company  has  recognized  a loss on  extinguishment  of debt of
$116,405 related to this transaction.

Under  the  terms of the note  payable,  interest  accrues  at a rate of 10% per
annum, with monthly principal  payments of $5,000 per month beginning sixty days
from the date of the note.  On March 14,  2007,  the holders of the note payable
executed an amendment to the note  payable,  which  provided for the deferral of
payments  under the note payable  until June 2007,  and extended the term of the
note from August 2007, to August 2008. The Company is current with its payments.

Under the March 14, 2007 amendment, at any time after giving notice, the holders
may  convert  all or part  of the  remaining  principal  balance,  plus  accrued
interest,  of this note into common  stock so long as such  conversion  does not
exceed 4.99% of the  then-outstanding  shares of common stock of the Company. In
the event of a conversion  of the amended  note,  the number of shares of common
stock to be issued  shall be  determined  by dividing  (i) the unpaid  principal
balance plus any accrued interest by (ii) seventy-five percent of the average of
the lowest  five  closing  bid prices in the past 20  trading  days  immediately
preceding any such conversion.

                                       15
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


All share grants were valued based on quoted  market prices on the date of grant
and all amounts were expensed during the first quarter of fiscal 2007.

NOTE 10: SERIES C PREFERRED STOCK

On July 20, 2006, the Company  established and authorized up to 3,000,000 shares
of no par value Series C Preferred Stock. On May 30, 2007, the Company redefined
the rights of the Series C Preferred to provide for mandatory  redemption by the
Company in the event the Company  meets  certain  funding  milestones  or if the
Company is acquired or  purchased  or in the event of a change in control of the
Company.  According to FASB 150,  ACCOUNTING FOR CERTAIN  FINANCIAL  INSTRUMENTS
WITH CHARACTERISTICS OF BOTH LIABILITIES AND EQUITY, a financial instrument that
is defined as "mandatorily  redeemable"  shall be classified as a liability.  If
the  instrument  embodies  a  conditional   obligation,   it  is  classified  as
"mandatorily  redeemable" if the event occurs or becomes certain to occur. As of
quarter end, the  conditional  obligations  of Series C Preferred  Stock had not
occurred nor were they certain to occur.

The Series C Shares have the following voting powers, designations, preferences,
limitations, restrictions and relative rights:

     a.   Designation: Series C Preferred Stock
     b.   Authorized Shares: 3,000,000
     c.   Liquidation Rights: None
     d.   Dividend Rights: None
     e.   Conversion Rights: None
     f.   Mandatory Redemption Rights:
     In the event the Company achieves $1,500,000 in funding,  the Company shall
     convert each Series C Share into $5.00 worth of the Company's common stock,
     if the funding  occurs before  October 31, 2007. If the funding takes place
     after October 31, 2007,  but before May 1, 2008,  the Company shall convert
     each Series C Shares into $5.25 worth of the Company's common stock. If the
     funding  occurs after May 1, 2008,  the Company shall convert each Series C
     Share into $5.50 worth of the Company's  common stock. For purposes of this
     redemption feature, the number of shares issuable upon mandatory conversion
     shall be based on the average of the  closing bid prices for the  Company's
     common stock on the five trading days preceding the conversion.
     g.   Voting Rights: 3,000 votes per share

NOTE 11: NET LOSS PER SHARE

In February 1997, the FASB issued SFAS No. 128 EARNINGS PER SHARE.  SFAS No. 128
simplifies  the  standards  for  computing  earnings  per share  ("EPS") and was
effective for financial  statements issued for periods ending after December 15,
1997.  Basic EPS is determined  using net income divided by the weighted average
shares  outstanding  during the period.  Diluted EPS is computed by dividing net
income  by the  weighted  average  shares  outstanding,  assuming  all  dilutive
potential common shares were issued.

                                       16
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


Since the fully diluted loss per share for 2007 and 2006 was antidilutive, basic
and  diluted  losses per share are the same.  Accordingly,  options to  purchase
common stock issuable upon  conversion of a convertible  debentures and warrants
were not included in the calculation of diluted earnings per common share.

NOTE 12: ACQUISITIONS

INTERNATIONAL BUILDING TECHNOLOGIES, INC.

On May 2, 2007, Motorsports Emporium, Inc.  ("Motorsports") entered into a Stock
Sale and Purchase  Agreement with Axia Group,  Inc.  ("Axia") and  International
Building Technologies,  Inc. ("IBT") and its Hong Kong subsidiary  International
Building  Technologies  Co.,  Ltd.  ("IBT LTD"),  pursuant to which  Motorsports
acquired  50,000,000 shares of IBT's common stock (or approximately 80% of IBT's
issued and outstanding  common stock) from Axia for  consideration of $2,300,000
consisting  of a (i)  $1,000,000  Convertible  Note and (ii)  20,000,000  common
shares of Motorsports  valued at $1,300,000.  The value of the 20,000,000 common
shares issued was determined  based on the average market price of  Motorsport's
common shares over the 2-day period before and the terms of the acquisition were
agreed to and announced.

The $1,000,000  Convertible  Note bears interest at the rate of 8% per annum and
requires the following principal payments:

     (1)  $50,000 payable on or before November 1, 2007;
     (2)  $50,000 payable on or before May 1, 2008;
     (3)  $900,000 payable on or before May 1, 2010.

IBT is a corporation  owning the rights to manufacture  and sell building panels
used in  construction  all over the world.  The building panels can be used in a
variety of ways to erect  buildings up to six stories tall without the need of a
traditional wood or steel frame structure.  Management believes that the product
offers significant cost savings compared to traditional methods of construction,
faster  construction,  and greater energy  savings.  The  technology  used meets
worldwide strength and durability tests. The IBT technology is also versatile in
its use and can be used to create unique architectural and design elements.  IBT
also provides Site Planning,  Architectural and Engineering Services, Contractor
Services,   Materials,   Equipment,   Training  and  Supervision.  IBT  LTD  has
contractual rights and business relationships to do business in China.

The  acquisition  has  been  accounted  for as a  purchase  in  accordance  with
Statement of Financial  Accounting Standard No. 141 BUSINESS  COMBINATIONS.  The
total purchase price was allocated as follows:


     Cash                         $     6,194
     Fixed assets                       2,571
     Other assets                       2,827
     Current liabilities               (3,947)
     Minority Interest                (15,000)
     Goodwill                       2,307,355
                                  -----------
     Purchase price               $ 2,300,000
                                  ===========

                                       17
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


None of the  $2,307,355  of goodwill is subject to  amortization,  but an annual
impairment  test.  As of the date of these  financial  statements  no triggering
event has occurred which would indicate an impairment of this amount.

The Company's condensed  consolidated  financial  statements include IBT and its
subsidiary's results of operations subsequent to its acquisition on May 2, 2007.

Below is the  supplemental  pro forma  information that discloses the results of
operations for the current interim period and the current year up to the date of
the most recent interim statement of financial  position  presented (and for the
corresponding  periods in the preceding year) as though the business combination
had been  completed as of the beginning of the period being  reported on. During
the  corresponding  periods in the preceding  year,  IBT had no activity and the
subsidiary was not in existence.

                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                      (FORMERLY MOTORSPORTS EMPORIUM, INC.)
                 PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                               Three Months Ended March 31,        Three Months Ended June 30,
                                                              -----------------------------       -----------------------------
                                                                  2007              2006              2007              2006
                                                              -----------       -----------       -----------       -----------
<S>                                                           <C>               <C>               <C>               <C>
Operating loss                                                $  (234,426)      $  (321,596)      $  (175,248)      $  (344,344)
Other income (expense):
  Interest income                                                      28                40                29                 8
  Interest expense                                                 (7,642)           (7,167)         (172,644)           (7,184)
  Gain on extinguishment of debt                                    5,496                --           104,735             3,949
  Change in fair value of derivative liability                         --                --          (351,817)               --
  Minority interest in net loss of subsidiary                       8,244                --            (3,652)               --
  Other income (expense)                                              106             5,803            (8,333)          (40,463)
                                                              -----------       -----------       -----------       -----------
      Total other income (expense)                                  6,232            (1,324)         (431,682)          (43,690)
                                                              -----------       -----------       -----------       -----------
Loss from continuing operations                                  (228,194)         (322,920)         (606,930)         (388,034)

Discontinued operations:
  Income (loss) from operations of discontinued business           (1,844)           (1,049)              (57)            7,406
  Income (loss) on disposal of assets                               4,174                --                --                --
                                                              -----------       -----------       -----------       -----------
Income (loss) on discontinued operations                            2,330            (1,049)              (57)            7,406
                                                              -----------       -----------       -----------       -----------
Net loss                                                      $  (225,864)      $  (323,969)      $  (606,987)      $  (380,628)
                                                              ===========       ===========       ===========       ===========

Net loss per common share - basic and diluted
  Continuing operations                                       $     (0.06)      $     (0.26)      $     (0.05)      $     (0.23)
                                                              ===========       ===========       ===========       ===========
  Discontinued operations                                     $      0.00       $     (0.00)      $     (0.00)      $      0.00
                                                              ===========       ===========       ===========       ===========
  Net loss per common share                                   $     (0.06)      $     (0.27)      $     (0.05)      $     (0.23)
                                                              ===========       ===========       ===========       ===========

Weighted average common shares outstanding:
  Basic & Diluted                                               3,707,087         1,221,160        11,334,517         1,655,092
                                                              ===========       ===========       ===========       ===========

                                                                Six Months Ended June 30,
                                                              -----------------------------
                                                                  2007              2006
                                                              -----------       -----------
Operating loss                                                $  (409,674)      $  (665,940)
Other income (expense):
  Interest income                                                      57                48
  Interest expense                                               (180,286)          (14,351)
  Gain on extinguishment of debt                                  110,231             3,949
  Change in fair value of derivative liability                   (351,817)               --
  Minority interest in net loss of subsidiary                       4,592                --
  Other income (expense)                                           (8,227)          (34,660)
                                                              -----------       -----------
      Total other income (expense)                               (425,450)          (45,014)
                                                              -----------       -----------
Loss from continuing operations                                  (835,124)         (710,954)

Discontinued operations:
  Income (loss) from operations of discontinued business           (1,901)            6,357
  Income (loss) on disposal of assets                               4,174                --
                                                              -----------       -----------
Income (loss) on discontinued operations                            2,273             6,357
                                                              -----------       -----------
Net loss                                                      $  (832,851)      $  (704,597)
                                                              ===========       ===========

Net loss per common share - basic and diluted
  Continuing operations                                       $     (0.11)      $     (0.49)
                                                              ===========       ===========
  Discontinued operations                                     $      0.00       $      0.00
                                                              ===========       ===========
  Net loss per common share                                   $     (0.11)      $     (0.49)
                                                              ===========       ===========

Weighted average common shares outstanding:
  Basic & Diluted                                               7,541,872         1,438,126
                                                              ===========       ===========
</TABLE>

          See accompanying notes to consolidated financial statements.

A gain  in the  amount  of  $77,000  was  recognized  prior  to  acquisition  by
Motorsports.  This  relief of debt by the debt holder was part of the Stock Sale
and Purchase Agreement. This item is a nonrecurring item and only applies to and
is only included on the "Pro Forma Consolidated Statement of Operations."

NOTE 13: CONVERTIBLE DEBENTURES PAYABLE & DERIVATIVE PAYABLE

On March 8, 2007,  the Company  amended and  bifurcated  a $129,240  convertible
debenture  into two  notes,  the first note in the  amount of  $100,000  and the
second note at $29,240.  Both  debentures bear interest at 5% and mature on July
1, 2009. The debentures  are  convertible  into shares of common stock at 70% of
the average of the lowest five  closing bid prices of the  immediate  20 trading
days prior to such conversion.  A beneficial  conversion feature of $129,240 was
calculated  in  accordance  with EITF  00-27:  APPLICATION  OF ISSUE NO. 98-5 TO
CERTAIN  CONVERTIBLE  INSTRUMENTS,  and is being  amortized over the life of the
debenture.  The  embedded  conversion  option is also  accounted  for under EITF
00-19:   ACCOUNTING  FOR  DERIVATIVE  FINANCIAL   INSTRUMENTS  INDEXED  TO,  AND
POTENTIALLY  SETTLED  IN, A  COMPANY'S  OWN  STOCK.  We have  accounted  for the
embedded conversion option as a derivative liability.  Accordingly, the embedded

                                       18
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


conversion  option  is  marked to  market  through  earnings  at the end of each
reporting  period.  The  conversion  option  is valued  using the  Black-Scholes
valuation  model.  For the three month period  ended June 30, 2007,  the Company
reflected  an expense  of  $137,509,  representing  the  initial  fair value and
subsequent change in the value of the embedded conversion option. As of June 30,
2007, neither note has been converted and the combined principal balance remains
at $129,240.

On March  14,  2007 and  again  on March  26,  2007,  the  Company  amended  and
bifurcated a $239,556  convertible  debenture into two notes,  the first note in
the amount of  $210,596  and the second note at $28,960.  Both  debentures  bear
interest at 10% and mature May 30,  2008.  The  debenture  is  convertible  into
shares of common  stock at 75% of the  average of the lowest  five  closing  bid
prices of the immediate 20 trading days prior to such  conversion.  A beneficial
conversion  feature of $239,556 was calculated in accordance with EITF 00-27 and
is being  amortized  over the life of the  debenture.  The  embedded  conversion
option is also  accounted  for under EITF  00-19and  we have  accounted  for the
embedded conversion option as a derivative liability.  Accordingly, the embedded
conversion  option  is  marked to  market  through  earnings  at the end of each
reporting  period.  The  conversion  option  is valued  using the  Black-Scholes
valuation  model.  For the three month period  ended June 30, 2007,  the Company
reflected  an expense  of  $170,724,  representing  the  initial  fair value and
subsequent change in the value of the embedded conversion option. As of June 30,
2007, the combined principal balance of both notes is $173,750.

On May 22, 2007,  the Company  issued a  convertible  debenture in the amount of
$50,000.  The debenture  bears  interest at 11% and matures March 21, 2008.  The
debenture  is  convertible  into shares of common stock at 50% of the average of
the lowest  three  closing bid prices of the  immediate 20 trading days prior to
such conversion.  A beneficial  conversion  feature of $30,506 was calculated in
accordance  with  EITF  00-27  and is  being  amortized  over  the  life  of the
debenture. The embedded conversion option is also accounted for under EITF 00-19
and we have  accounted  for  the  embedded  conversion  option  as a  derivative
liability.  Accordingly,  the  embedded  conversion  option  is marked to market
through earnings at the end of each reporting  period.  The conversion option is
valued using the Black-Scholes valuation model. For the three month period ended
June 30, 2007,  the Company  reflected an expense of $43,584,  representing  the
initial fair value and subsequent change in the value of the embedded conversion
option.  As of June 30, 2007,  the note has not been converted and the principal
balance remains at $50,000.

NOTE 14: SUBSEQUENT EVENTS

On July 8, 2007,  International  Building  Technologies  Co.,  Ltd., a Hong Kong
corporation  ("IBT") and wholly owned subsidiary of Motorsports  Emporium,  Inc.
("Motorsports")  entered into an Asset Sale and Purchase  Agreement with Suining
Yinfa  Construction  &  Engineering  Co.,  Ltd., a China  corporation  ("Suining
Yinfa"),  pursuant  to which IBT  acquired a 51%  interest in the Rose Top Grade
Project  ("Rose Best  Project") for U.S.  $350,000  represented by a Convertible
Promissory Note in the principal  amount of U.S.  $350,000 issued by Motorsports
in favor of Suining Yinfa.

The U.S. $350,000  Convertible  Promissory Note bears interest at the rate of 8%
per annum and the  principal  amount plus  accrued  interest is due on or before
July 31, 2009.

The Convertible Promissory Note contains two conversion features.

     1. By Motorsports  at any time and upon 30 days written notice  Motorsports
may convert the Convertible  Promissory Note into Motorsports preferred stock on
terms and conditions mutually acceptable to Motorsports and Suining Yinfa.

                                       19
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                       FORMERLY MOTORSPORTS EMPORIUM, INC.
                          (A DEVELOPMENT STAGE COMPANY)

            Notes to the Condensed Consolidated Financial Statements
                       June 30, 2007 and December 31, 2006


     2. By Suining Yinfa on or about July 31, 2009 Suining Yinfa may convert all
or  part  of  the  remaining  principal  balance,  plus  accrued  interest  into
Motorsports  common stock, in which case the number of shares of common stock to
be issued shall be determined by dividing (i) the unpaid principal balance, plus
any accrued  interest by (ii) 80% of the average of the lowest five  closing bid
prices of Motorsports common stock immediately preceding any such conversion.

The Rose Best Project  (already  underway) is located in the Sichuan Province of
China and consists of the  construction  of four upscale  residential  apartment
buildings  with a total  building  area of  approximately  537,000  square  feet
(49,500m2).  Over the next 17 months,  the  project is  anticipated  to generate
revenue from the  approximately  $6,700,000  (50,000,000  RMB) contract,  51% of
which will be allocated to Motorsports' subsidiary, IBT.

                                       20
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

For a description of our significant accounting policies and an understanding of
the significant factors that influenced our performance during the quarter ended
June 30, 2007, this "Management's Discussion and Analysis of Financial Condition
and Results of Operations"  should be read in conjunction  with the Consolidated
Financial Statements,  including the related notes,  appearing in Item 1 of this
Quarterly  Report, as well as the Company's Annual Report on Form 10-KSB for the
year ended December 31, 2006.

CAUTIONARY FORWARD - LOOKING STATEMENT

The  following  discussion  should  be read in  conjunction  with our  financial
statements and related notes.

Certain matters discussed herein may contain forward-looking statements that are
subject to risks and uncertainties.  Such risks and uncertainties  include,  but
are not limited to, the following:

     -    the volatile and competitive nature of the industry,
     -    the uncertainties surrounding the rapidly evolving markets in which we
          compete,
     -    the uncertainties surrounding technological change of the industry,
     -    our dependence on its intellectual property rights,
     -    the success of marketing efforts by third parties,
     -    the changing demands of customers, and
     -    the arrangements with present and future customers and third parties.

Should one or more of these risks or uncertainties  materialize or should any of
the underlying assumptions prove incorrect, actual results of current and future
operations may vary materially from those anticipated.

GENERAL

Prior to December 1, 2004 the  Company was known as Ten Stix,  Inc.  and changed
its name to MotorSports Emporium, Inc. on December 1, 2004 under the laws of the
State of Nevada to engage in the motor  sports  industry  targeting  enthusiasts
participating  in die  cast  collecting,  automobile  restoration,  purchase  of
high-performance  accessories,  motor  sports  related  collectibles,   driver's
apparel,  race  venues and  product  licensing.  On July 12,  2007,  the Company
reported in a  Definitive  Schedule 14C that the Company was going to change its
name to International  Building  Technologies  Group, Inc. to better reflect its
change of business  from motor sports  related to building and  construction  of
lightweight  panels.  On July 17,  2007 the  Company  amended  its  articles  of
incorporation to change its name to International  Building  Technologies Group,
Inc.  effective  on August 6, 2007.  According  to FASB 7, the Company is in the
development stage. The Company devotes most of its efforts to establishing a new
business,  raising capital,  establishing sources of supply, acquiring property,
plant,  equipment,  and other operating  assets.  The Company's shares of common
stock trade on the OTC Bulletin Board under the symbol "INBG.OB".

Our principal  executive  offices are located at 1151 Harbor Bay Parkway,  Suite
202,  Alameda,  CA 94502.  Our telephone  number is (510) 814-3778 and facsimile
number is (510)  814-0366.  More  information  regarding  our  products  and the
Company is available on our website at www.ibtgi.com.

                                       21
<PAGE>
EXECUTIVE OVERVIEW

In 2004,  we entered the motor sports  industry  selling die cast model cars. In
2005 we created several divisions to sell race worn memorabilia (helmets, gloves
and racing  suits),  automotive  related art and high  performance  brake fluid.
Additionally,  in 2006 we created a car wash  product  named after a  well-known
racing  legend.  Up until the end of our first  quarter in 2007 we  continued to
focus our efforts on our high  performance  brake fluid and  specialty  car care
product lines,  however due to a change in control and certain recent events, we
changed our business  operations to better reflect  management's  experience and
our expertise in the light weight panel industry where we can better concentrate
on global construction and engineering  projects.  Throughout the second quarter
of 2007 we divested  ourselves from the motor sports  business and  transitioned
into the  business of  lightweight  panel  construction  through our then wholly
owned subsidiary International Building Technologies, Inc.

In July 2007, our wholly owned subsidiary,  International Building Technologies,
Co.,  Ltd.  ("IBT  LTD"),  a Hong Kong  corporation,  entered  into an asset and
purchase agreement with China based Suining Yinfa Construction & Engineering Co,
Ltd. for 51% interest in a Chinese building projected named Rose Top Grade (Rose
Best) Project.  The Rose Top Grade (Rose Best)  Project,  already  underway,  is
located  in  the  Sichuan  Province  of  China  and  consists  of  four  upscale
residential  apartment  buildings  with a total  building area of  approximately
49,500 square meters  (537,000 sq feet).  The project is anticipated to generate
revenue from the 50,000,000 RMB (approximately $6,700,000 USD) contract over the
next 17 months,  51% of which will be allocated to our subsidiary  International
Business  Technologies.  We  purchased  51% of the Rose Top  Grade  (Rose  Best)
Project from Suining  Yinfa for $350,000  USD,  payable July 2009.  We will work
with  Suining  Yinfa to comply  with U.S.  GAAP  standards  (Generally  Accepted
Accounting Principles) as it relates to public accounting.

We have been incurring selling, general and administrative expenses primarily to
develop our existing businesses,  improve our current  infrastructure to address
anticipated growth and identify and evaluate  complementary business development
opportunities  and marketing.  The  development  of these  businesses has led to
recent  operating  losses and cash  outflows.  However,  we  believe  that these
actions will allow us to generate positive operating results in the future.

RECENT DEVELOPMENTS

REVERSE STOCK SPLIT

Effective  October 31, 2006, the Company  effected a reverse split of our common
stock on a ratio of one  share for every  225  shares of common  stock,  without
decreasing the number of authorized  shares of common stock and without changing
the par value of the common stock. All share counts included in this Form 10-QSB
have been retroactively restated for this stock split.

RETIREMENT OF SERIES B PREFERRED STOCK IN EXCHANGE FOR NOTE PAYABLE

On August 21, 2006,  the  outstanding  Series B Preferred  Stock,  consisting of
shares held by our CEO, a former  director  and a  shareholder,  were retired in
exchange for cash compensation of $1 each to the CEO and a former director and a
convertible  note payable in the principal  amount of $250,000 to a shareholder.
The Company has  determined  that this  transaction  meets the  definition of an
extinguishment  based  on  the  guidance  contained  in  EITF  96-19:   DEBTOR'S
ACCOUNTING FOR A MODIFICATION OR EXCHANGE OF DEBT INSTRUMENTS,  and,  therefore,
the Company has recognized a loss on  extinguishment of debt of $116,405 related
to this transaction.

Under the terms of the note  payable,  interest  accrues at a rate of 10 percent
per annum, with monthly  principal  payments of $5,000 per month beginning sixty
days  from the date of the note.  On March 14,  2007,  the  holders  of the note
payable  executed an  amendment  to the note  payable,  which  provided  for the

                                       22
<PAGE>
deferral of payments  under the note payable  until June 2007,  and extended the
term of the note from August 2007, to August 2008.

At any time after  giving  notice,  the  holders  may convert all or part of the
remaining  principal  balance,  plus accrued interest,  of this note into common
stock so long as such conversion shall not exceed 4.99% of the  then-outstanding
common stock of the Company.  In the event of a conversion  of the amended note,
the  number  of  shares of common  stock to be  issued  shall be  determined  by
dividing  (i) the unpaid  principal  balance  plus any accrued  interest by (ii)
seventy-five percent of the average of the lowest five closing bid prices in the
past 20 trading days immediately preceding any such conversion.

DISCONTINUED OPERATIONS

In the fourth  quarter  of 2006,  the  Company  discontinued  operations  of its
Scottsdale  Diecast  division due to increased  manufacturer's  prices,  slowing
retail sales and increased  competition  from online auction sites.  The Company
sold the balance of its inventory, fixed assets and website. The Company decided
to no longer  focus its efforts in the die cast  business  primarily  because of
increasing   inventory   costs  and  declining   sales  due,  in  part,  to  the
consolidation of the diecast industry.  The Company has subsequently disposed of
all assets  related to this  division in the first  quarter of 2007.  Scottsdale
Diecast's net revenues for the three months ended June 30, 2007 and 2006 were $0
and $28,984,  respectively.  Excluding general and administrative costs that are
not specifically  identifiable to Scottsdale Diecast, the loss from discontinued
operations  were $0 and  $(8,093)  for the three  months ended June 30, 2007 and
2006,  respectively.  No income tax  expense  has been  recorded  related to the
discontinued  operations  given the Company's net operating  loss carry forwards
and related valuation allowances.  Prior year financial statements for 2006 have
been restated to present the operations of the Scottsdale  Diecast division as a
discontinued operation.

RESULTS OF OPERATIONS

SIX MONTHS  ENDED JUNE 30, 2007  COMPARED TO SIX MONTHS  ENDED MONTHS ENDED JUNE
30, 2006

Our net loss  during  the first six  months  of 2007 was  $826,864  or $0.11 per
common  share  compared  to a net loss of  approximately  $704,597  or $0.49 per
common share during the first six months of 2006 (an increase of $122,267).  The
change is  attributable  to  management's  focus away from an exclusive  diecast
merchandising  business and the transition  towards  developing its  lightweight
panel technology building business.

The Company has discontinued  the operations of Scottsdale  Diecast in the first
quarter and reflected the activity as  discontinued  operations on the Statement
of Operations.  Income (loss) from operations of  discontinued  business for the
first  six  months  ended  June  30  2007  and  2006  is  $(1,901)  and  $6,357,
respectively.  There are no revenues as of June 30, 2007 since the  inception of
re-entering the development stage on April 1, 2007.

During the first six months of 2007, we incurred  operating expenses of $328,461
compared to $665,940 of operating  expenses incurred during the first six months
of 2006 (a decrease of $337,479). Operating expenses for the first six months of
2007 primarily consisted of: (i) $325,805 of selling, general and administrative
expenses compared to $662,669 of selling,  general and  administrative  expenses
incurred  during  the first  six  months of 2006;  (ii)  $1,151 of  depreciation
expense compared to $1,771 of depreciation expense incurred during the first six
months of 2006; and (iii) $1,505 of amortization  expense  compared to $1,500 of
amortization  expense  incurred  during  the first six  months of 2006.  We also
incurred  $180,286  of interest  expense  during the first six months of 2007 as
compared to $14,351  incurred  during the first six months of 2006. The decrease
in  operational  expenses  during the first six months of 2007  compared  to the
first six months of 2006 was primarily due to the  discontinuation of operations
as previously discussed.

                                       23
<PAGE>
In 2007, our other income (expense)  included a gain of $33,231  associated with
the  settlement of various debt,  which reduced the total amount due to $83,958.
Of this  gain,  $7,538  were  associated  with  the  settlement  of  outstanding
litigation,  which  reduced the total  amount due to $32,000  plus $958 for copy
services related to stock transfer agent records.  These amounts are included in
accrued  expenses on the balance sheet,  and were paid during the second quarter
of 2007.

THREE MONTHS ENDED JUNE 30, 2007 COMPARED TO THREE MONTHS ENDED JUNE 30, 2006

The Company has discontinued  the operations of Scottsdale  Diecast in the first
quarter and reflected the activity as  discontinued  operations on the Statement
of Operations.  Income (loss) from operations of  discontinued  business for the
three  months  ended  June 30 2007 and 2006 is $(57) and  $7,406,  respectively.
There are no revenues as of June 30, 2007 since the inception of re-entering the
development stage on April 1, 2007.

During the three months ended June 30, 2007, we incurred  operating  expenses of
$158,526  compared  to  $344,344  of  operating  expenses  incurred  during  the
corresponding  period of 2006 (an decrease of $185,818).  Operating expenses for
the second  quarter of 2007  primarily  consisted  of: (i)  $157,610 of selling,
general and administrative expenses compared to $342,083 of selling, general and
administrative expenses incurred during the second quarter of 2006; (ii) $161 of
depreciation  expense compared to $1,511 of depreciation expense incurred during
the second quarter of 2006; and (iii) $755 of amortization  expense  compared to
$750 of amortization expense incurred during the second quarter of 2006. We also
incurred  $172,644  of  interest  expense  during the second  quarter of 2007 as
compared to $7,184 incurred during the second quarter of 2006.

Our net loss during the second quarter of 2007 was $657,219, or $0.06 per common
share,  compared to a net loss of  approximately  $380,628,  or $0.23 per common
share,  during the second quarter of 2006.  The change in  operational  expenses
during the second  quarter of 2007  compared  to the second  quarter of 2006 was
primarily due to the discontinuation of operations as previously discussed.

LIQUIDITY AND CAPITAL RESOURCES

Our future  success and  viability  is primarily  dependent  upon our ability to
increase  operating  cash  flows and  develop  new  business  opportunities.  As
discussed in Note 2 to the Consolidated Financial Statements,  Mr. Keaveney sold
his Series C Preferred  Stock to Mr. Kenneth  Yeung.  As a result of Mr. Yeung's
voting power,  he effectively  controls the Company and is considered a "control
person" under  applicable SEC  regulations.  Mr. Yeung agreed to immediately pay
off an aggregate of $202,470 of the Company's liabilities, which debt reductions
were intended to reduce outstanding  liabilities,  including $48,788 owed by the
Company to Keaveney for accrued salary and $38,115 owed by the Company to Rhonda
Keaveney,  the Company's  Former Chief  Operating  Officer.  The cash to pay the
liabilities  was received by the Company in March 2007. As of June 30, 2007, all
related  liabilities  have been paid;  such payments were  completed  within the
second  quarter,  with the exception of the balance of $37,500 in accrued salary
that is due and  owed to  David  Keaveney.  The  Company  has  agreed  to pay to
Keaveney six equal payments of $6,250 per month beginning July 31, 2007.

On August 21, 2006, the Company issued a $250,000  convertible note payable to a
shareholder  and an  entity  owned  by  such  shareholder  in  exchange  for the
retirement of the shareholder's Series B preferred stock and all related accrued
interest.  See Note 9. On March 14, 2007,  the Note was amended with the monthly
payments of $5,000 or more deferred until June 1, 2007 and the due date extended
from August 30,  2007 to May 30,  2008.  At any time after  giving  notice,  the
Holder  has the option to convert  all or part of the  remaining  balance of the
note into common stock of the Company  based on 75% of the average of the lowest
five closing bid prices in the past 20 trading days  immediately  preceding such
conversion  so long as such  conversion  shall  not  exceed  4.99%  of the  then
outstanding  common stocks of the Company.  Furthermore,  on March 26, 2007, the
Note was bifurcated into two separate notes with all prior unpaid  principal and
interest  rolled up into these two notes.  The Company was current with payments

                                       24
<PAGE>
on these notes  through  June 30,  2007.  During the  quarter,  the note Holders
converted a total of $91,971 of principal and interest payments.

On May 2, 2007, Motorsports Emporium, Inc.  ("Motorsports") entered into a Stock
Sale and Purchase  Agreement with Axia Group,  Inc.  ("Axia") and  International
Building  Technologies,  Inc. ("IBT"),  pursuant to which  Motorsports  acquired
50,000,000  shares of IBT common stock (or approximately 80% of IBT's issued and
outstanding  common  stock)  from  Axia for  consideration  consisting  of a (i)
$1,000,000  Convertible Note and (ii) 20,000,000  shares of Motorsports'  common
stock.  The  $1,000,000  Convertible  Note bears  interest at the rate of 8% per
annum and requires the following principal payments:

     (1)  $50,000 payable on or before November 1, 2007;
     (2)  $50,000 payable on or before May 1, 2008;
     (3)  $900,000 payable on or before May 1, 2010.

On May 8, 2007 the  Company  amended a  previous  Promissory  Note for  $129,240
($121,920 in principal and $7,320 accrued interest). Furthermore, on May 8, 2007
the  Company  bifurcated  the Note  under  which the  Company  entered  into two
separate  Notes;  one for  $100,000  with 5%  interest  in which the  Company is
obligated  to  make  24  monthly  principal  and  interest  payments  of  $4,387
commencing  July 1, 2007 with final  payment July 1, 2009 and the second Note is
for  $29,240  with 5%  interest  in which the  Company is  obligated  to make 24
monthly  principal and interest  payments of $1,283 commencing July 1, 2007 with
final payment July 1, 2009. At any time after giving notice,  the Holder has the
option to convert all or part of the accrued interest and remaining principal of
either  note based on 70% of the  average of the lowest 5 closing  bid prices in
the past 20 trading days  immediately  preceding such  conversion so long as the
total  number of shares  issued to Holder will be such that the number of shares
beneficially  owned by Holder will be less than 4.99% of the outstanding  common
shares of the Issuer.  The Company has determined  that these modified terms are
not  substantially  different  than the original terms as defined in EITF 96-19:
DEBTOR'S  ACCOUNTING FOR A MODIFICATION  OR EXCHANGE OF DEBT  INSTRUMENTS,  and,
therefore,  this  renegotiation  did not result in the  recognition of a gain or
loss.

On May 21, 2007 the Company entered into a $122,500  Secured  Promissory Note at
the rate of 11% per annum  due  March  20,  2008.  .  Initially,  the  Company's
President,  Kenneth Yeung, personally borrowed the money and invested the amount
into the Company.  Due to a change in the business,  the Company  decided on May
21, 2007 to assume the note and entered into a promissory  note with the lender.
The Note is secured with the Preferred  Series C shares owned by the  President.
In connection  with this  transaction,  490,000  warrants to purchase the common
stock of the  Company at $0.25 were issued  with an  expiration  date of May 20,
2012.  The May 2007  Warrants  issued  to the  investors  in the May  2007  Note
Payables are exercisable for a period of five years commencing immediately after
the date of  issuance  at an  exercise  price of $.25 per share.  Utilizing  the
Black-Scholes   valuation  model  and  the  following   assumptions:   estimated
volatility of 211.36%,  a contractual  life of five years, a zero dividend rate,
4.79% risk free interest  rate,  and the fair value of common stock of $0.10 per
share at date of grant,  the Company  determined the allocated fair value of the
warrant to be $47,759.  The Company has recorded  this amount as a debt discount
and is amortizing  the debt  discount  over the term of the May 2007 Notes.  The
amortization  is being  recorded as interest  expense and totaled $6,368 for the
six months  ended June 30, 2007,  for the three months ended June 30, 2007,  and
for the period from  inception to June 30, 2007.  As an incentive to Payee,  the
Company will make  additional  payments of $122,500 on or by the due date unless
(a) the  principal  is paid in full on or before  September  20, 2007 - in which
case the  additional  payment  incentive  shall be reduced to $30,625 or (b) the
principal  is paid in full on or before  December  20,  2007 - in which case the
additional payment incentive shall be reduced to $61,250.  No payments were made
during the second quarter.

On May 21, 2007,  the Company  entered into a  Convertible  Promissory  Note for
$30,000  paid no later  than  March 20,  2008 with an  interest  rate of 11%.  .
Initially, the Company's President, Kenneth Yeung, personally borrowed the money
and invested the amount into the Company.  Due to a change in the business,  the
Company decided on May 21, 2007 to assume the note and entered into a promissory
note with the lender.  The Note is secured  with the  Preferred  Series C shares
owned by the President. In connection with this transaction, 120,000 warrants to

                                       25
<PAGE>
purchase the common stock of the Company at $.25 were issued with an  expiration
date of May 20, 2012.  The May 2007 Warrants  issued to the investors in the May
2007  Note  Payables  are  exercisable  for a period  of five  years  commencing
immediately  after the date of issuance at an exercise  price of $.25 per share.
Utilizing  the  Black-Scholes  valuation  model and the  following  assumptions:
estimated  volatility  of 211.36%,  a  contractual  life of five  years,  a zero
dividend rate, 4.79% risk free interest rate, and the fair value of common stock
of $0.10 per share at date of grant,  the Company  determined the allocated fair
value of the warrant to be $11,696.  The Company has  recorded  this amount as a
debt discount and is amortizing  the debt discount over the term of the May 2007
Notes. The amortization is being recorded as interest expense and totaled $1,559
for the six months  ended June 30,  2007,  for the three  months  ended June 30,
2007,  and for the period from  inception to June 30,  2007.  As an incentive to
Payee,  the Company  will make  additional  payments of $30,000 on or by the due
date unless (a) the principal is paid in full on or before  September 20, 2007 -
in which case the additional payment incentive shall be reduced to $7,500 or (b)
the principal is paid in full on or before December 20, 2007 - in which case the
additional payment incentive shall be reduced to $15,000.  No payments were made
during the second quarter.

On May 21, 2007,  the Company  entered into a  Convertible  Promissory  Note for
$97,500  paid no later  than  May 20,  2008  with an  interest  rate of 11%.  In
connection with this transaction,  390,000 warrants to purchase the common stock
of the Company at $.25 were issued with an expiration  date of May 21, 2012. The
May 2007  Warrants  issued to the  investors  in the May 2007 Note  Payables are
exercisable for a period of five years commencing  immediately after the date of
issuance at an exercise  price of $.25 per share.  Utilizing  the  Black-Scholes
valuation model and the following assumptions:  estimated volatility of 211.36%,
a contractual life of five years, a zero dividend rate, 4.79% risk free interest
rate,  and the fair  value of common  stock of $0.10 per share at date of grant,
the Company  determined  the allocated  fair value of the warrant to be $38,012.
The Company has recorded this amount as a debt  discount and is  amortizing  the
debt discount  over the term of the May 2007 Notes.  The  amortization  is being
recorded as interest  expense and totaled  $4,224 for the six months  ended June
30, 2007,  for the three  months  ended June 30,  2007,  and for the period from
inception  to June 30, 2007.  As an  incentive  to Payee,  the Company will make
additional payments of $97,500 on or by the due date unless (a) the principal is
paid in full on or  before  November  20,  2007 - in which  case the  additional
payment  incentive  shall be reduced to $24,375 or (b) the  principal is paid in
full on or before  February  20,  2008 - in which  case the  additional  payment
incentive  shall be reduced to $48,750.  No payments were made during the second
quarter.

On May 22, 2007 the  Company  entered  into a  Convertible  Promissory  Note for
$50,000  paid no later than March 21, 2008 with 11% interest  rate per annum.  .
Initially, the Company's President, Kenneth Yeung, personally borrowed the money
and invested the amount into the Company.  Due to a change in the business,  the
Company  decided  on May  22,  2007  to  assume  the  note  and  entered  into a
convertible   promissory   note  with  the  lender.   In  connection  with  this
transaction,  200,000  warrants to purchase  the common  stock of the Company at
$.25 were issued with an expiration  date of May 21, 2012. The May 2007 Warrants
issued to the  investors  in the May 2007 Note  Payables are  exercisable  for a
period of five years  commencing  immediately  after the date of  issuance at an
exercise price of $.25 per share.  Utilizing the  Black-Scholes  valuation model
and the following  assumptions:  estimated  volatility of 211.36%, a contractual
life of five years, a zero dividend rate, 4.79% risk free interest rate, and the
fair  value of common  stock of $0.10 per  share at date of grant,  the  Company
determined  the allocated  fair value of the warrant to be $19,494.  The Company
has recorded this amount as a debt discount and is amortizing  the debt discount
over the term of the May 2007  Notes.  The  amortization  is being  recorded  as
interest  expense and totaled $2,534 for the six months ended June 30, 2007, for
the three months ended June 30, 2007,  and for the period from inception to June
30,  2007.  As an  incentive  to the Payee,  the  Company  will make  additional
payments  of $50,000 on or by the due date unless (a) the  principal  is paid in
full on or before  September  20,  2007 - in which case the  additional  payment
incentive shall be reduced to $12,500 or (b) the principal is paid in full on or
before December 20, 2007 - in which case the additional  payment incentive shall
be reduced to  $25,000.  At any time,  the Payee may  convert all or part of the
remaining  principal  balance and accrued  interest into shares of the Company's
Common Stock based on 50% of the average of the lowest three  closing bid prices

                                       26
<PAGE>
in the past 20 trading days  immediately  preceding  such  conversion so long as
such conversions shall not exceed 4.99% of the then outstanding  Common Stock of
the Company. No payments were made during the second quarter.

On June 1, 2007,  the Company  entered into a  Convertible  Promissory  Note for
$10,000  paid no later  than June 1, 2008 with an  interest  rate of 11%.  As an
incentive to Payee,  the Company will make additional  payments of $10,000 on or
by the due date unless (a) the  principal is paid in full on or before  December
2, 2007 - in which case the  additional  payment  incentive  shall be reduced to
$2,500  or (b) the  principal  is paid in full on or  before  March 2, 2008 - in
which case the  additional  payment  incentive  shall be  reduced to $5,000.  No
payments were made during the second quarter.

During the next 12 months,  our  foreseeable  cash  requirements  will relate to
continuing to develop the operations of our wholly owned subsidiary and business
divisions,  maintaining our good standing and making the requisite  filings with
the Securities and Exchange  Commission,  and the payment of expenses associated
with reviewing or investigating any potential business venture.  Because we have
not identified any such venture as of the date of this Report,  it is impossible
to predict the costs.  Additionally,  we may experience a liquidity  predicament
and be required to raise additional capital.  Historically,  we have relied upon
internally  generated funds and funds from the sale of shares of stock and loans
from our  shareholders  and  private  investors  to finance our  operations  and
growth. Management may raise additional capital through future public or private
offerings of our stock or through loans from private  investors,  although there
can be no assurance that we will be able to obtain such  financing.  Our failure
to do so would have a material and adverse affect upon us and our shareholders.

Our financial  statements have been prepared assuming that we will continue as a
going  concern  and,  accordingly,  do not include  adjustments  relating to the
recoverability and realization of assets and classifications of liabilities that
might be necessary should we be unable to continue our operations.

OFF-BALANCE SHEET ARRANGEMENTS

As of the  date  of  this  Quarterly  Report,  there  are no  off-balance  sheet
arrangements  that have or are  reasonably  likely  to have a current  or future
effect on our financial condition,  changes in financial condition,  revenues or
expenses,  results of operations,  liquidity,  capital  expenditures  or capital
resources  that  are  material  to  investors.   The  term  "off-balance   sheet
arrangement"  generally means any  transaction,  agreement or other  contractual
arrangement to which an entity  unconsolidated  with us is a party,  under which
the we have (i) any obligation  arising under a guarantee  contract,  derivative
instrument or variable  interest;  or (ii) a retained or contingent  interest in
assets transferred to such entity or similar  arrangement that serves as credit,
liquidity or market risk support for such assets.

MATERIAL COMMITMENTS

As of the date of this Quarterly Report, we do not have any material commitments
that are not reflected as liabilities on our consolidated balance sheet included
elsewhere in this report,  nor does management  anticipate any further  material
commitments within the next twelve months.

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 our 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.  We remind 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,  our ability to identify,  produce and
complete 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.

                                       27
<PAGE>
ITEM 3. CONTROLS AND PROCEDURES.

(a) EVALUATION OF DISCLOSURE  CONTROLS AND PROCEDURES.  Our principal  executive
officer and principal  financial officer have evaluated the effectiveness of our
disclosure  controls and  procedures  controls and  procedures  (as such term is
defined in Rules 13a-15(e) and 15d-15(e) under the 1934 Act as of the end of the
period  covered by this  quarterly  report  ("Evaluation  Date").  Based on such
evaluation  and based on the late  filing  of the  10-QSB,  our Chief  Executive
Officer and Chief  Financial  Officer has concluded  that, as of the  Evaluation
Date,  our  disclosure  controls  and  procedures  were  ineffective  due  to an
insufficient  complement of personnel  with an  appropriate  level of accounting
knowledge,  experience  and  training in the general  application  of  generally
accepted  accounting  principles   commensurate  with  its  financial  reporting
requirements and the complexity of the Company's operations and transactions.

 (b)  CHANGES IN INTERNAL  CONTROLS.  There were no  significant  changes in our
internal  controls or in other  factors  that could  significantly  affect these
controls subsequent to the date of evaluation by our principal executive officer
and principal financial officer.

                          PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

There is no threatened or pending litigation against the Company.  The following
lawsuit was settled during the second quarter.

On  April  16,  2007,  the  Company  settled  a  lawsuit  involving   X-Clearing
Corporation,  the Company's former transfer agent (as previously reported in the
Company's  Form 10-QSB for the quarter ended March 31,  2007).  The Company paid
X-Clearing  $32,000 and $958 to Ikon for costs of copying or  printing  transfer
agent records. Such amounts were accrued during the previous years.

The Company is not aware of any  pending  claims or  assessments,  other than as
described  above,  which may have a  material  adverse  impact on the  Company's
financial position or results of operations.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the second quarter of 2007, the Company issued  20,000,000  shares of its
common  stock to Axia Group,  Inc. in exchange for  50,000,000  shares of common
stock  (approximately  80%) of  International  Building  Technologies,  Inc.  In
addition,  the Company issued to Axia Group, Inc. a $1,000,000  convertible note
due May 1, 2010.

During the second quarter,  the Company also issued 166,667 shares of its common
stock to a third party to cancel a debt in the amount of $5,000.

During the second  quarter,  the Company also issued  333,334  shares to a third
party to cancel a debt in the amount of $10,000.

During the second  quarter of 2007,  the Company  issued  220,000  shares of the
Company's  common stock to a law firm in  cancellation of legal fees due to that
law firm in the amount of $11,000.

During the second  quarter of 2007,  the Company  issued  1,200,000  warrants to
purchase shares of the Company's  common stock. The warrants are exercisable for
a term of five years and are exercisable at a price of $.25 per share.

The foregoing  issuances were made in reliance on Section 4(2) of the Securities
Act of 1933.

                                       28
<PAGE>
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On May 21, 2007,  the Company's  shareholders  approved the following by written
consent of a majority of the  outstanding  shares of common  stock,  outstanding
shares of Series A preferred stock and outstanding  shares of Series C preferred
stock (to be effective August 6, 2007):

     a.   Amending the Company's Articles of Incorporation to change its name to
          "International Building Technologies Group, Inc."
     b.   Ratifying  the  appointments  of  Kenneth  Yeung and Peter Chin to the
          Company's Board of Directors.
     c.   Approving the  designation of 10,000,000  shares of Series D preferred
          stock.
     d.   Redefining the attributes of the Company's Series C preferred stock.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS

(a) Exhibits

Exhibit No.                               Description
-----------                               -----------

31.1          Certification  of  Principal   Executive   Officer  and  Principal
              Financial Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted
              pursuant to Section 302 of the Sarbanes Oxley Act of 2002.

32.1(1)       Certification  of Chief  Executive  Officer  and  Chief  Financial
              Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
              Section 906 of the Sarbanes- Oxley Act of 2002.

----------
(1)  In  accordance  with SEC  Release  No.  34-47986,  this  Exhibit  is hereby
     furnished to the  Securities  and Exchange  Commission  as an  accompanying
     document  and is not deemed  "filed" for the  purposes of Section 18 of the
     Securities  Exchange Act of 1934 or otherwise subject to the liabilities of
     that Section,  nor shall it be deemed  incorporated  by reference  into any
     filing under the Securities Act of 1933.

                                       29
<PAGE>
                                   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.

INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.


Date: September 7, 2007                 /s/ Kenneth Yeung
                                        ----------------------------------
                                        Kenneth Yeung
                                        President, Chief Financial Officer

                                       30
<PAGE>
                                  EXHIBIT INDEX

Exhibit No.                               Description
-----------                               -----------

31.1          Certification  of  Principal   Executive   Officer  and  Principal
              Financial Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted
              pursuant to Section 302 of the Sarbanes Oxley Act of 2002.

32.1(1)       Certification  of Chief  Executive  Officer  and  Chief  Financial
              Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
              Section 906 of the Sarbanes- Oxley Act of 2002.