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 March 31, 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.)

          400 North Federal Highway, Hallandale, Florida  33309
                    (Address of principal executive offices)

                                 (305) 466-1912
                           (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                                             May 12, 2000

Common
Par value $0.001 per share                                            12,090,175





<PAGE>

                         MARCH INDY INTERNATIONAL, INC.

                                   FORM 10-QSB

                      FOR THE QUARTER ENDED MARCH 31, 2000

                                TABLE OF CONTENTS

PART 1 - FINANCIAL INFORMATION

                                                                            Page

Item 1.   Consolidated Financial Statements:

          Balance Sheet as of  March 31, 2000                                F-1

          Statements of Operations for the three months ended
          March 31, 2000 and from November 24, 1998 (inception)
          to March 31, 2000                                                  F-2

          Statements of Cash Flows for the three months
          ended March 31, 2000 and from November 24, 1998
          (inception)  to March 31, 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                                                    8

Item 2.   Changes in Securities and Use of Proceeds                            8

Item 3.   Defaults Upon Senior Securities                                      8

Item 4.   Submission of Matters to a Vote of Securities Holders                8

Item 5.   Other Information                                                    8

Item 6.   Exhibits and Reports on Form 8-K                                     8

<PAGE>

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

                           CONSOLIDATED BALANCE SHEET

                                 March 31, 2000
                                   (Unaudited)


                                     ASSETS

CASH                                                            $            200

EQUIPMENT                                                                330,400

INTANGIBLE ASSETS                                                      2,791,428

DEPOSITS                                                                 180,000


                                                                 ---------------
                                                                $      3,302,028
                                                                 ===============

                      LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:

     Accounts payable and accrued expenses                      $         79,750
     Loans  payable                                                      415,000
                                                                 ---------------
    TOTAL CURRENT LIABILITIES                                            494,750
                                                                 ---------------
SHAREHOLDERS' EQUITY:

     Common stock, $.001 par value; authorized 50,000,000 shares;
         10,840,175 shares issued and outstanding                         10,840
     Additional paid in capital                                        3,213,188

     Deficit accumulated in the development stage                      (416,750)
                                                                 ---------------
         TOTAL SHAREHOLDERS' EQUITY                                    2,807,278
                                                                 ---------------
                                                                $      3,302,028
                                                                 ===============

                 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                 November 24, 1998
                                                         Ended                        (Inception)
                                                     March 31, 2000                to March 31, 2000
                                                     ----------------              ------------------
<S>                                                 <C>                          <C>

REVENUES                                              $           -                $              -

COSTS AND EXPENSES:

      Equipment leasing expense                             150,000                         150,000
      General and administrative                            109,750                         266,750
                                                     -----------------             ------------------
NET LOSS                                             $     (259,750)              $         (416,750)
                                                     =================             ==================
BASIC AND DILUTED LOSS
      PER SHARE                                      $        (0.02)              $            (0.04)
                                                     =================             ==================

WEIGHTED AVERAGE SHARES
      OUTSTANDING                                        10,840,175                       10,840,175
                                                     ===============               ==================

The  Company  was  inactive  during  the three  months  ended  March  31,  1999.
Accordingly, no operating results are presented.


</TABLE>







                 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>

                                                                     Three Months       Nov. 24, 1998
                                                                        Ended            (Inception)
                                                                    March 31, 2000     to March 31, 2000
                                                                  -----------------   -----------------
<S>                                                              <C>                 <C>

CASH FLOWS FROM OPERATING ACTIVITIES:

      Net loss                                                     $     (259,750)     $       (416,750)

      Changes in assets and liabilities:

            Deposits                                                     (180,000)             (180,000)
            Accounts payable and accrued expenses                          24,750                79,750
NET CASH FLOWS USED IN OPERATING

      ACTIVITIES                                                         (415,000)             (517,000)

CASH FLOWS FROM FINANCING ACTIVITIES:

      Increase in 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
                                                                   =================   =================

</TABLE>

The  Company  was  inactive  during  the three  months  ended  March  31,  1999.
Accordingly, no operating results are presented.




                 See notes to consolidated financial statements

                                      F-3
<PAGE>

                         MARCH INDY INTERNATIONAL, INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                 March 31, 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-QB.  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
         three month period ended March 31, 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 10KSB,  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 $416,000 from November 24, 1998  (Inception) to March
         31, 2000. Additionally, the Company had a working capital deficiency of
         $495,000 at March 31, 2000. These conditions raise  substantial  doubts
         about  the   Company's   ability  to  continue  as  a  going   concern.
         Management's plans with respect to these matters include  restructuring
         its  existing  debt  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 three  months  ended March 31,  2000,  certain  persons made
         advances on behalf of the Company in payment for deposits, an equipment
         lease and amounts due to vendors.  Such advances were interest free and
         due on demand.  In May 2000, 1,250,000  restricted  common  shares were
         issued in payment of the outstanding debt.

                                       F-4

<PAGE>


4.       COMMON STOCK

         The Company has  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.

5.       COMMITMENTS AND CONTINGENCIES

         a.    The  Company  is   obligated  under  an  equipment  lease   which
               terminates   in   December  2000.  The  lease   requires  advance
               payments  of  $530,000  as of May 20, 2000,  of which the Company
               paid  $150,000  as  of March 31, 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 at March 31, 2000.

         b.


               In March 2000, the Company agreed to purchase an office  building
               in Hollywood,  Florida for approximately  $400,000 and has made a
               non-refundable  down  payment of $170,000  towards  the  purchase
               price.  The  Company  has been  given a  six-month  extension  to
               complete  the  transaction.  The  Company  is  obligated  under a
               three-year lease of the aforementioned premises, commencing April
               1, 2000, for monthly rentals of $2,850.


         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-5


<PAGE>
Item 2: Management's  Discussion and Analysis of Financial Condition and Results
of Operations

Statements  included in this "Management's  Discussion and Analysis of Financial
Condition  and  Results  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  also  intends to develop a racing  team which will  compete in Formula,
KART and Indy racing  competitions.  The Company was in the development stage as
of March 31,  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. The Company also plans to develop an Internet Web site in order to
merchandise  products  related  to its racing  efforts.  The  Company's  product
merchandising  efforts are  intended to be "track  side" on the  Internet and in
major sports shopping venues.

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.

                                      6
<PAGE>

Development Stage Expenses

The Company's  development  stage expenses were  $259,750.00 for the three month
period  ending March 31, 2000 and  $416,750.00  for the period from November 24,
1998 (inception) to March 31, 2000. The expenses  incurred were primarily due to
various  consulting,  managerial  and  professional  services  in pursuit of the
Company's objectives.

Future Financing

The Company is  preparing  for a private  offering of common  shares in order to
raise  $7,500,000.  If fully  subscribed,  this would fund chassis  development,
racing operations, corporate operations, strategic marketing and the development
of its Web site.  The Company has no  assurances  at this time as to the funding
and there  are no  assurances  that such  funding  will be  sufficient  to fully
execute the  Company's  business  plans and achieve  profitability,  even if the
funding is obtained.  Furthermore,  the Company's cas h flow through  operations
are of strategic  importance,  and although  substantial  planning and processes
have been designed and structured,  there are no assurances as to the ability of
the Company to generate sufficient cash flow from operations.  As of the date of
this Form 10-QSB, $415,000.00 has been raised in this private offering.

                                       7
<PAGE>

PART II - OTHER INFORMATION

ITEM 1.      Legal Proceedings.
              N/A

ITEM 2.      Changes in Securities
             N/A

ITEM 3.      Defaults Upon Senior Securities
             N/A

ITEM 4.      Submission of Matters to a Vote of Securities Holders
             N/A

ITEM 5.      Other Information

             ITEM 5. OTHER INFORMATION

A. On April 30, 2000, we entered into a four (4) year employment  agreement with
Stephan  Johansson as Director of Racing Operations and as a Member of the Board
of Directors with compensation to begin June 1, 2000 at a rate of $62,500 in the
first year, $150,000 in the second year, $175,000 in the third year, $200,000 in
the fourth year.  Pursuant to the agreement,  Mr. Johansson is granted the right
to purchase 100,000 shares of the Company's common stock per year, at a price of
one ($1.00) dollar per share. This agreement  supercedes that earlier consulting
agreement executed between the Company and Mr. Johansson on January 3, 2000.

B. On April 30, 2000, we entered into a four (4) year employment  agreement with
Robin Herd as Chairman of the Board of Directors with compensation to begin June
1, 2000 at a rate of $62,500 in the first  year,  $150,000  in the second  year,
$175,000  in the third  year,  $200,000  in the  fourth  year.  Pursuant  to the
agreement,  Mr.  Herd is granted  the right to  purchase  200,000  shares of the
Company's  common  stock per year,  at a price of one ($1.00)  dollar per share.
This agreement supercedes that earlier consulting agreement executed between the
Company and Mr. Herd on January 3, 2000.

C. On April 30, 2000, we entered into a four (4) year employment  agreement with
Thomas P. Megas as President and CEO of the Company with  compensation  to begin
June 1, 2000 at a rate of  $62,500  in the first  year,  $150,000  in the second
year,  $175,000 in the third year,  $200,000 in the fourth year. Pursuant to the
agreement.  Mr.  Megas is granted  the right to purchase  200,000  shares of the
Company's  co mmon  stock per year,  at a price of one ($1.00) dollar per share.
This agreement supercedes that earlier consulting agreement executed between the
Company and Mr. Megas on January 3, 2000.

D. On March 21, 2000,  the Company  entered into a memorandum of agreement  with
Martin Bloom for the purchase of a building and real estate located at 400 North
Federal Highway,  Hallandale, FL 33309 for a purchase price of $350,000.00.  The
Company has paid a down  payment on the  property  in the amount of  $150,000.00
with the balance to be paid in cash on or before September 21, 2000.


ITEM 6.      Exhibits and Reports on Form 8-K

             N/A
                                       8
<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: June 7,2000                 By: /s/ Thomas Megas
                                          Thomas Megas
                                          Chairman and Cheif Executive Officer



                                       9