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

                                   FORM 10-QSB

(Mark One)

      ( X ) QUARTERLY REPORT UNDER SECTION 13 0R 15(D)OF THE SECURITIES EXCHANGE
            ACT OF 1934
                  For the quarterly period ended June 30, 2000

       ( ) TRANSITION REPORT UNDER SECTION 13 OR 15 (D) OF THE EXCHANGE ACT

  For the transition period from.....................to.......................

                         Commission file number 0-30544

                         MARCH INDY INTERNATIONAL, INC.
                         ------------------------------
        (Exact name of small business issuer as specified in its charter)


 NEVADA                                                               88-0339817
(State of other jurisdiction                                       (IRS Employer
of incorporation or organization)                            identification No.)

          6767 W. Tropicana Avenue, Suite 207, Las Vegas , Nevada 89103
                    (Address of principal executive offices)

                                 (702) 248-1027
                           (Issuer's telephone number)


(Former name,   former  address and former fiscal year,   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  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_____

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares  outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

                                                  OUTSTANDING AS OF
CLASS                                              October 16, 2000
-----
Common

Par value $0.001 per share                                             4,029,916


<PAGE>


                         MARCH INDY INTERNATIONAL, INC.

                                   FORM 10-QSB

                       FOR THE QUARTER ENDED JUNE 30, 2000

                                TABLE OF CONTENTS

PART 1 - FINANCIAL INFORMATION
                                                                            Page

Item 1.  Consolidated Financial Statements:

         Balance Sheet as of June 30, 2000                                   F-1

         Statements of  Operations  for the three months and six months
         ended June 30, 2000 and from November 24, 1998  (inception) to
         June 30, 2000                                                       F-2

         Statements of Cash Flows for the six months ended June 30, 2000
         and from November 24, 1998 (inception) to June 30, 2000             F-3

         Notes to Financial Statements                                 F-4 - F-5

Item 2.  Management's Discussion and Analysis or Plan
         of Operations                                                       6-7


PART II - OTHER INFORMATION

Item 1.  Legal Proceedings                                                     7

Item 2.  Changes in Securities and Use of Proceeds                             7

Item 3.  Defaults Upon Senior Securities                                       7

Item 4.  Submission of Matters to a Vote of
         Securities Holders                                                    7

Item 5.  Other Information                                                     7


<PAGE>

                         MARCH INDY INTERNATIONAL, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                           CONSOLIDATED BALANCE SHEET
                                 June 30, 2000
                                  (Unaudited)


                                     ASSETS



CASH                                                              $         200

INTANGIBLE ASSETS (net of accumulated amortization of $42,500)        1,657,500
                                                                  --------------
                                                                  $   1,657,700
                                                                  ==============


                      LIABILITIES AND SHAREHOLDERS' EQUITY



CURRENT LIABILITIES:
      Accounts payable and accrued expenses                       $     224,850
                                                                  --------------
SHAREHOLDERS' EQUITY:
      Common stock, $.001 par value; authorized 50,000,000 shares;
          4,029,916 shares issued and outstanding                         4,030
      Additional paid-in capital                                      4,532,498
      Deficit accumulated in the development stage                   (3,103,678)
                                                                  --------------
          TOTAL SHAREHOLDERS' EQUITY                                  1,432,850
                                                                  --------------
                                                                  $   1,657,700
                                                                  ==============






                 See notes to consolidated financial statements

                                       F-1

<PAGE>


                         MARCH INDY INTERNATIONAL, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

<TABLE>
<CAPTION>

                                                    Three Months                Six Months                   November 24, 1998
                                                        Ended                      Ended                       (Inception)
                                                    June 30, 2000              June 30, 2000                to June 30, 2000
                                                 --------------------    -------------------------    ------------------------------
<S>                                         <C>                      <C>                           <C>

REVENUES                                      $                    -   $                         -   $                           -

COSTS AND EXPENSES:
      Equipment leasing expense                                    -                       150,000                         150,000
      General and administrative                             145,100                       254,850                         411,850
      Non cash interest                                      897,500                       897,500                         897,500
      Writedown of equipment and intangible assets         1,421,828                     1,421,828                       1,421,828
      Loss on forfeited deposits                             180,000                       180,000                         180,000
      Amortization of intangible assets                       42,500                        42,500                          42,500
                                                 --------------------    -------------------------    ------------------------------
NET LOSS                                       $          (2,686,928) $                (2,946,678)  $                  (3,103,678)
                                                 ====================    ==========================    ============================


BASIC AND DILUTED LOSS
      PER SHARE                                $               (0.69)  $                     (0.79)  $                       (0.85)
                                                 ====================    ==========================    ============================




WEIGHTED AVERAGE SHARES
      OUTSTANDING                                          3,891,169                     3,752,281                       3,657,251
                                                 ====================    ==========================    ============================

</TABLE>

The Company was inactive during the six months ended June 30, 1999. Accordingly,
             no comparative operating results are presented herein.

                 See notes to consolidated financial statements


                                       F-2

<PAGE>

                         MARCH INDY INTERNATIONAL, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)
<TABLE>
<CAPTION>

                                                              Six Months      Nov. 24, 1998
                                                                Ended          (Inception)
                                                            June 30, 2000     to June 30, 2000
                                                           ----------------   --------------
<S>                                                     <C>               <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
     Net loss                                             $     (2,946,678) $     (3,103,678)

     Amortization                                                   42,500            42,500

     Non cash interest                                             897,500           897,500

     Writedown of equipment and intangible assets                1,421,828         1,421,828

     Changes in assets and liabilities:
           Accounts payable and accrued expenses                   169,850           224,850
                                                           ----------------   --------------
NET CASH FLOWS USED IN OPERATING ACTIVITIES                       (415,000)         (517,000)
                                                           ----------------   --------------
CASH FLOWS FROM FINANCING ACTIVITIES:
     Proceeds of loans payable                                     415,000           415,200
     Cancellation of shareholders' debt                                  -           102,000
                                                           ----------------   --------------
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES                    415,000           517,200
                                                           ----------------   --------------
NET INCREASE IN CASH                                                     -               200

CASH - Beginning of period                                             200                 -
                                                           ----------------   --------------
CASH - End of period                                      $            200  $            200
                                                            ===============   ===============



SUPPLEMENTAL DISCLOSURE OF CASH FLOW
     INFORMATION:

     No cash payments were made for income taxes or
     interest during each of the above periods.

     Non-cash investing and financing activities:


     Contribution by shareholders of operating
         assets for common stock
                  Equipment                               $              -  $        330,400

                  Intangible assets                                      -         2,791,428
                                                           ----------------   --------------
                                                          $              -  $      3,121,828
                                                            ===============   ===============

     Issuance of 1,250,000 share of common stock
           in payment of loans                            $        415,000  $        415,000
                                                            ===============   ===============

</TABLE>

The Company was inactive during the six months ended June 30, 1999. Accordingly,
             no comparative operating results are presented herein.

                 See notes to consolidated financial statements

                                      F-3



<PAGE>

                         MARCH INDY INTERNATIONAL, INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                  June 30, 2000

                                   (Unaudited)

1.       BASIS OF PRESENTATION

         The accompanying  unaudited financial  statements have been prepared in
         accordance with generally  accepted  accounting  principles for interim
         financial information and the instructions to Form 10-QSB. Accordingly,
         they do not  include  all the  information  and  footnotes  required by
         generally  accepted   accounting   principles  for  complete  financial
         statements.  In the  opinion  of  management,  all  adjustments  (which
         include only normal recurring  adjustments) necessary to present fairly
         the financial  position,  results of operations  and cash flows for all
         periods presented have been made. The results of operations for the six
         months  ended  June 30,  2000  are not  necessarily  indicative  of the
         results of operations that may be expected for the year ending December
         31, 2000. These financial statements should be read in conjunction with
         the Company's December 31, 1999 Form 10-KSB,  financial  statements and
         accompanying notes thereto.

2.       GOING CONCERN

         The accompanying  financial statements have been prepared assuming that
         the Company will continue as a going concern.  The Company  incurred an
         operating loss of $3,104,000 from November 24, 1998 (Inception) to June
         30, 2000. Additionally, the Company had a working capital deficiency of
         $225,000 at June 30, 2000.  These conditions  raise  substantial  doubt
         about  the   Company's   ability  to  continue  as  a  going   concern.
         Management's plans with respect to these matters include  restructuring
         its existing  obligations and raising additional capital through future
         issuances  of  stock  and or  debentures.  The  accompanying  financial
         statements  do not  include  any  adjustments  that might be  necessary
         should the Company be unable to continue as a going concern.

3.       LOANS PAYABLE

         During  the six  months  ended  June 30,  2000,  certain  persons  made
         advances of  $415,000 on behalf of the Company in payment of  deposits,
         an  equipment  lease and  amounts due to vendors.  Such  advances  were
         interest-free and due on demand. On May 12, 2000,  1,250,000 restricted
         common shares with a market value of $1,312,500  were issued in payment
         of the  outstanding  debt.  The excess of market value over the debt in
         the amount of $897,500 was  reflected as non-cash  interest  expense in
         the June 30, 2000 financial statements.

                                       F-4

<PAGE>

4.       ASSET IMPAIRMENT CHARGE

         During the  quarter  ended  June 30,  2000,  the  Company  recorded  an
         impairment charge of $1,421,828 resulting in part from the obsolescence
         of certain equipment and intangible  assets due to recent  developments
         in  design  and  technology  as well  as the  advent  of new  technical
         regulations  for   competition.   Accordingly,   carrying  amounts  for
         equipment  of  $330,400  and the  related  designs  and slot  rights of
         $697,857 were charged in the period.

         The  Company  has been  unable to  commence  operations  and to further
         exploit  the  "March"  brand.  Accordingly,  management  has  deemed it
         appropriate  to recognize a partial  diminution of value in the "March"
         brand approximating $400,000 in the current financial statements.

5.       COMMON STOCK

         The Company rescinded the issuance of 158,600 shares, resulting from an
         over allotment of shares to certain shareholders in connection with the
         reverse  acquisition  of March Indy  International,  Inc. The financial
         statements give retroactive effect to this transaction.

         On June 17, 2000 the  Company  declared a one for three  reverse  stock
         split,   effective  June  26,  2000.  The  financial   statements  give
         retroactive effect to this transaction.

6.       COMMITMENTS AND CONTINGENCIES

a.                The  Company  was  obligated  under an  equipment  lease which
                  terminates  in  December  2000.  The  lease  required  advance
                  payments of $530,000 as of May 20, 2000,  of which the Company
                  paid  $150,000 as of June 30,  2000.  The Company is presently
                  alleging  failure of the lessor to perform in accordance  with
                  the  agreement  and has  withheld  payment  of the  balance of
                  $380,000  due  on  the  contract.  Management  is  engaged  in
                  negotiations to resolve the dispute and  accordingly,  has not
                  made any provision for loss in the financial  statements.  The
                  initial payment was charged to operations as of June 30, 2000.

b.                In March  2000,  the  Company  agreed  to  purchase  an office
                  building in Hallandale, Florida for approximately $350,000 and
                  made a  non-refundable  down  payment of $170,000  towards the
                  purchase price. The Company was given a six-month extension to
                  complete the transaction but was unable to do so. Accordingly,
                  the  $170,000  non-refundable  down  payment  was  charged  to
                  operations during the three months ended June 30, 2000.

                  The Company is currently obligated under a three-year lease of
                  the  aforementioned  premises,  commencing  April 1, 2000, for
                  monthly rentals of $2,850.  The financial  statements  include
                  rent expense of $8,550 through June 30, 2000.

                                       F-5

<PAGE>

c.                In  May  2000,  the  Company  amended    previously   reported
                  compensation   agreements  with   Messrs.   Herd,  Megas   and
                  Johansson. The amended agreements  call for  modified payments
                  of  combined   aggregate  annual  compensation   ranging  from
                  $188,000 to $867,000, commencing June 1, 2000.


                                       F-6


<PAGE>




ITEM 2:  MANAGEMENT DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS


Statements  included  in this  "Management  Discussion  and  Analysis or Plan of
Operations" which are not historical facts are forward looking statements. These
forward-looking  statements  involve risks and  uncertainties  that could render
them  materially  different,  including,  but not  limited to, the risk that new
products and  sponsorships  may not be available on a timely basis, and the risk
that the Company  will not raise  additional  funds  necessary  to fund  working
capital  needs  and the risk  that  the  Company  would  not be able to fund its
working capital needs from cash flow.

Overview:

March Indy  International,  Inc.  (the  "Company")  was  incorporated  as N.E.C.
Properties  Inc. in Nevada in 1995. In November  1999,  the Company  changed its
name to March Indy International,  Inc. after completing,  on November 10, 1999,
the acquisition of all of the common stock of March Indy International,  Inc., a
Delaware  Corporation  ("March  Delaware").  The merger was  accounted  for as a
reverse  acquisition.  The Company exists  primarily as a stock holding company,
and  accordingly,  the operations  described in this document,  unless otherwise
specified,  are those of the subsidiary,  March Delaware. The Company intends to
engage in the business of designing  and building  racing  chassis to be sold to
racing  teams  competing  in  Formula,  KART and Indy racing  competitions.  The
Company was in the development stage as of June 30, 2000. The Company decided to
delay the commencement of racing  operations until 2001 and decided not to enter
the recent Indianapolis 500 race in May 2000.


Development Stage Revenues:

The Company's  operations  have been devoted  primarily to developing a business
plan, acquiring its March subsidiary,  developing its racing team,  developing a
business plan for the production of chassis and  administrative  functions.  The
Company has had no revenue to date. The Company intends to grow through internal
development and strategic  alliances.  The ability of the Company to achieve its
business objectives is contingent upon its success in raising additional capital
until adequate revenues are realized from operations.

Development Stage Expenses:

The Company's  development  stage  expenses were  $2,946,678  for the six months
ended  June 30,  2000 and  $3,103,678  for the period  from  November  24,  1998
(inception)  to June 30,  2000.  The expenses  incurred  were  primarily  due to
various  consulting,  managerial  and  professional  services  in pursuit of the
Company's objectives and the write-down of the intangible assets.

                                        6
<PAGE>


PART II - OTHER INFORMATION


ITEM 1.     Legal Proceedings.

                    Not Applicable

ITEM 2.     Changes in Securities and Use of Proceeds

                    Not Applicable

ITEM 3.     Defaults Upon Senior Securities

                     Not Applicable

ITEM 4.      Submission of Matters to a Vote of Securities Holders

                     Not Applicable

ITEM 5.      Other Information

On June 17,  2000,  the Board of  Directors  of the  Company  approved a 1-for-3
reverse stock split with an effective  date of June 26, 2000,  which reduced the
number of outstanding common shares of the Company from 12,089,957 to 4,029,916.
In connection with the reverse split,  the Company changed its stock symbol from
"INDY" to "MIDI".

ITEM 6.       Exhibits and Reports on Form 8-K




                      (a) Exhibits

                               NUMBER      DESCRIPTION

                                27         Financial Data Schedule


(b)     Reports on Form 8-K

        No reports on form 8-K were filed during the quarter ended June 30, 2000

                                        7

<PAGE>

SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                                   MARCH INDY INTERNATIONAL INC.


DATE: OCTOBER 31, 2000                            /S/ TOM MEGAS
                                                  ------------------------------
                                                      Tom Megas
                                                      Chief Executive Officer

                                        8