SECURITIES AND EXCHANGE COMMISSION
                      WASHINGTON, DC 20549


                           FORM 10-QSB


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

         For the quarterly period ended March 31, 2002
                                        --------------

                Commission File Number: 0-26322
                                        -------

               EAGLE BUILDING TECHNOLOGIES, INC.
               ---------------------------------
(Exact Name of Small Business Issuer as Specified in its Charter)

       Nevada                                   88-0303769
------------------------                  -----------------------
(State of Incorporation)                  (IRS Employer I.D. No.)

   225 N.E. Mizner Boulevard, Suite 502, Boca Raton, FL 33432
   ----------------------------------------------------------
           (Address of principal executive offices )

                         (561) 672-4800
        ------------------------------------------------
        (Issuer's telephone number, including area code)

    20283 Powerline Road, Suite 213, Boca Raton, Florida 33498
    ----------------------------------------------------------
      (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

There were 7,794,771 shares of Common Stock, $.001 par value, issued
and outstanding at March 31, 2002.




<PAGE>


                     EAGLE BUILDING TECHNOLOGIES, INC.


                                    INDEX


PART I.    CONSOLIDATED FINANCIAL INFORMATION

     Item 1.   Consolidated Financial Statements

               Consolidated Balance Sheets - March 31, 2002 (Unaudited) and
               December 31, 2001

               Consolidated Statements of Operations - Three months ended
               March  31, 2002 and 2001 (Unaudited).

               Consolidated Statements of Cash Flows - Three months ended
               March 31, 2002 and 2001 (Unaudited).

               Notes to Consolidated Financial Statements.

     Item 2.   Management's Discussion and Analysis of Financial Condition
               and Results of Operations.

PART II.   OTHER INFORMATION

     Item 1.   Legal Proceedings

     Item 2.   Changes in Securities

     Item 3.   Defaults Upon Senior Securities

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

     Item 5.   Other Information

     Item 6.   Exhibits and Reports on Form 8-K

SIGNATURES




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                     EAGLE BUILDING TECHNOLOGIES, INC.



                      PART 1 - FINANCIAL INFORMATION



Item 1.     Consolidated Financial Statements
            ---------------------------------




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                     EAGLE BUILDING TECHNOLOGIES, INC.
                        CONSOLIDATED BALANCE SHEETS
                                  ASSETS

<TABLE>
<CAPTION>
                                     March 31,     December 31,
                                       2002            2001
                                     ---------     ------------
                                    (Unaudited)
<S>                                <C>             <C>

CURRENT ASSETS:
  Cash                             $   487,273     $   174,686
  Accounts Receivable, net             570,357         758,365
  Inventories                        1,815,090       1,525,131
  Prepaid expenses                      25,152          25,152
                                   -----------     -----------
      TOTAL CURRENT ASSETS           2,897,872       2,483,334
                                   -----------     -----------

PROPERTY AND EQUIPMENT, net          3,038,525       2,946,754
                                   -----------     -----------
OTHER ASSETS -
  Deferred development costs         2,787,239       2,629,139
  Investment in unconsolidated
    subsidiary                         386,820         386,820
  Intangible assets, net             7,359,163       7,430,350
                                   -----------     -----------

      TOTAL OTHER ASSETS            10,533,222      10,446,309
                                   -----------     -----------

             TOTAL ASSETS          $16,469,619     $15,876,397
                                   ===========     ===========


              LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
  Accounts payable and
    accrued expenses               $ 5,433,610     $ 6,686,911
  Notes payable                      8,983,846       5,364,008
  Deposits                             934,716         550,485
                                   -----------     -----------
     TOTAL CURRENT LIABILITIES      15,352,172      12,601,404
                                   -----------     -----------

LONG TERM LIABILITIES                5,363,588       6,352,849
                                   -----------     -----------

REDEEMABLE COMMON STOCK, 155,834
  shares issued and outstanding      1,168,748       1,168,748
                                   -----------     -----------
SHAREHOLDERS' DEFICIT:
  Common Stock, $.001 par value
   11,666,666 shares authorized
   7,638,937 and 7,015,271 shares
   issued and outstanding at
   March 31, 2002 and
   December 31, 2001                     7,639           7,015
  Additional paid in capital        36,618,157      31,399,870
  Accumulated deficit              (42,040,685)    (35,653,489)
                                   -----------     -----------
     TOTAL STOCKHOLDERS' DEFICIT    (5,414,889)     (4,246,604)
                                   -----------     -----------
     TOTAL LIABILITIES AND
       STOCKHOLDERS' DEFICIT       $16,469,619     $15,876,397
                                   ===========     ===========

</TABLE>


See accompanying notes to consolidated financial statements.




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                     EAGLE BUILDING TECHNOLOGIES, INC.
                  CONSOLIDATED STATEMENTS OF OPERATIONS
                                (Unaudited)

<TABLE>
<CAPTION>
                                       Three Months Ended
                                     March 31,       March 31,
                                       2002            2001
                                    -----------     -----------
<S>                                 <C>             <C>

SALES                               $   311,561     $   611,144

COSTS OF SALES                          189,099         484,944
                                    -----------     -----------

GROSS PROFIT                            122,462         126,200
                                    -----------     -----------

SELLING, GENERAL AND
 ADMINISTRATIVE EXPENSES              6,001,269       1,506,264
                                    -----------     -----------

LOSS FROM OPERATIONS                 (5,878,807)     (1,380,064)
                                    -----------     -----------

OTHER EXPENSES:
 Interest expense                      (508,389)        (22,389)
                                    -----------     -----------

NET LOSS                            $(6,387,196)    $(1,402,453)
                                    ===========     ===========

WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING
  - Basic                             7,650,000       4,490,000
  - Diluted                           7,650,000       4,490,000

NET LOSS
  PER COMMON SHARE
  - Basic                                  (.83)           (.31)
                                    -----------     -----------
  - Diluted                         $      (.83)    $      (.31)
                                    ===========     ===========

</TABLE>


See accompanying notes to consolidated financial statements.




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                    EAGLE BUILDING TECHNOLOGIES, INC.
                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                               (Unaudited)

<TABLE>
<CAPTION>
                                       Three Months Ended
                                     March 31,       March 31,
                                       2002            2001
                                    ----------      ----------
<S>                                 <C>             <C>

CASH FLOWS FROM OPERATING
 ACTIVITIES:
  Net loss                         $(6,387,196)    $(1,402,453)
  Adjustments to reconcile net
   loss to net cash used in
   operating activities:
     Amortization                       71,187         110,655
     Stock issued for services
       and interest                  4,232,730         580,212
     Depreciation                       50,440          22,247
  Changes in operating assets
   and liabilities:
     Advances                              -            35,514
     Accounts receivable               188,008          50,725
     Inventories                      (289,959)        (97,147)
     Prepaid expenses                      -            (5,200)
     Deposits                          384,231         729,232
     Accounts payable and
       accrued expenses             (1,253,301)     (2,311,745)
                                   -----------     -----------
   NET CASH USED IN
    OPERATING ACTIVITIES            (3,003,860)     (2,287,960)
                                   -----------     -----------

CASH FLOWS FROM INVESTING
 ACTIVITIES:
  Decrease (increase) in
    other assets                      (158,100)        100,000
  Investment in subsidiaries
    (net of cash acquired)                 -           (34,000)
  Purchase of property, plant
   and equipment                      (142,211)       (246,906)
                                   -----------     -----------

   NET CASH USED IN
     INVESTING ACTIVITIES             (300,311)       (180,906)
                                   -----------     -----------

CASH FLOWS FROM FINANCING
 ACTIVITIES:
  Cash overdraft                           -              (439)
  Net advances from officer                -            11,500
  Net proceeds from note payable     3,624,172         216,912
  Payments on note payable            (993,595)            -
  Proceeds from issuance of stock      986,181       2,375,000
                                   -----------     -----------

  NET CASH PROVIDED BY
    FINANCING ACTIVITIES             3,616,758       2,602,973
                                   -----------     -----------

NET INCREASE IN CASH                   312,587         134,107
CASH AT BEGINNING OF PERIOD            174,686             -
                                   -----------     -----------

CASH AT END OF PERIOD              $   487,273     $   134,107
                                   ==========      ===========

</TABLE>



See accompanying notes to consolidated financial statements.




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                        EAGLE BUILDING TECHNOLOGIES, INC.
                    NOTES TO CONSOLIDATED FINANCIAL STATMENTS
                                 MARCH 31, 2002


NOTE 1 -  BASIS OF PRESENTATION
          ---------------------

          The accompanying interim consolidated financial statements of Eagle
          Building Technologies, Inc. are unaudited, but in the opinion of
          management reflect all adjustments (consisting of normal recurring
          accruals) necessary for a fair presentation of the results for such
          periods.  The results of operations for any interim period are not
          necessarily indicative of the results for the respective full year.
          These condensed financial statements should be read in conjunction
          with the financial statements and notes thereto contained in the
          Company's annual report on Form 10-KSB for the year ended
          December 31, 2001 as filed with the Securities and Exchange
          Commission.

NOTE 2 -  STOCKHOLDERS' EQUITY
          --------------------

          Changes in Stockholders' Equity - The following represents the
          changes in stockholders' equity from January 1, 2002 through
          March 31, 2002:

<TABLE>
<CAPTION>
                                                              Additional
                                              Common           Paid In
                                        Shares     Amount      Capital
                                       ---------   --------   -----------
<S>                                    <C>         <C>        <C>
          Balance - Jan. 1, 2002        7,015,271   $ 7,015   $31,399,870

          Common stock sold for cash      110,333       110       986,071

          Issuance of Common Stock
           for services and interest      513,333       514     4,232,216
                                       ----------   -------   -----------

          Balance  - March 31, 2002     7,638,937   $ 7,639   $36,618,157
                                       ==========   =======   ===========
</TABLE>


          NOTE 3 -  WEIGHTED AVERAGE SHARES
                    -----------------------

                    Loss per common share is computed using the weighted
                    average number of common shares outstanding.  Common
                    equivalent shares consist of the companies stock options
                    and warrants and are considered to be anti-dilutive
                    common stock equivalents, determined by using the
                    treasury stock method.




<PAGE>                              -7-




ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS

     The analysis of the Company's financial condition, liquidity, capital
resources and results of operations should be viewed in conjunction with the
accompanying financial statements including the notes thereto.

Financial Condition

     At March 31, 2002, the Company had total assets of $16,469,619, as
compared to total assets of $15,876,397 at December 31, 2001; and total
liabilities[1] of $20,715,760 at March 31, 2002, as compared to total
liabilities of $18,954,253 at December 31, 2001; and stockholders' deficit
at March 31, 2002 of $(5,414,889), as compared to $(4,246,604) at December
31, 2001.

Liquidity and Capital Resources

     As of March 31, 2002, the Company's cash totaled $487,273 as compared
to $174,686 at December 31, 2001.  Net cash used in operations was $3,003,860
for the quarter ended March 31, 2002, compared to $2,287,960 in the same
quarter ended March 31, 2001.

     The Company has no present additional commitment that is likely to
result in its liquidity increasing or decreasing in any significant way.
In addition, the Company knows of no trend, additional demand, event or
uncertainty that will result in, or that are reasonably likely to result in
the Company's liquidity increasing or decreasing in any material way.

Results of Operations

     Sales for the three months ended March 31, 2002 were $311,561 compared
with sales of $611,144 in the quarter ended March 31, 2001.  The Company
recorded a net loss of $6,387,196 for the quarter ended March 31, 2002,
compared to a net loss of $1,402,453 for the quarter ended March 31, 2001.
Included in the loss for the quarter ended March 31, 2002 were expenses of
$4,232,730 recorded as a result of the issuance of 513,333 shares of the
Company's common stock for services and interest.


-----------------------------

[1]  As a result of the Company's investigation in connection with the
     restatement of its 2000 and 2001 financials, the Company believes that
     there may be third parties to whom Anthony D'Amato, the Company's former
     Chairman and CEO, has obligated, or made representations purporting to
     obligate, the Company, or to issue equity in the Company without the
     knowledge or authorization of the Company's Board of Directors. The
     Company will continue to investigate and determine the validity of any
     such third party claims on a case by case basis.  At the time of this
     filing, the Company cannot determine the financial impact, if any, to the
     Company as a result of Mr. D'Amato's actions.




<PAGE>                              -8-




FORWARD LOOKING STATEMENTS

     Statements made in this Management's Discussion and Analysis and
elsewhere in this Annual Report that state the Company's or management's
intentions, hopes, beliefs, expectations or predictions of the future
contain forward looking statements. Such forward looking statements include,
without limitation, statements regarding the Company's planned capital
expenditure requirements, cash and working capital requirements, the
Company's expectations regarding the adequacy of current financing
arrangements, product demand and market growth, other statements regarding
future plans and strategies, anticipated events or trends, and similar
expressions concerning matters that are not historical facts. It should be
noted that the Company's actual results could differ materially from those
contained in such forward looking statements mentioned above due to adverse
changes in any number of factors that affect the Company's business
including, without limitation, risks associated with investing in and the
marketing of IMSI's Wall System, risks concerning the protection of IMSI's
patents, reliance upon distributors, regulatory risks, risks of expansion,
product liability and other risks described herein.




<PAGE>                              -9-




                       PART II - OTHER INFORMATION


Item 1.   LEGAL PROCEEDINGS

          See information contained in Item 3 - Legal Proceedings in the
          Company's Form 10-KSB for the year ended December 31, 2001 filed
          on August 20, 2002.

Item 2.   CHANGE IN SECURITIES

          Not Applicable

Item 3.   DEFAULTS UPON SENIOR SECURITIES

          Not Applicable

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

          Not Applicable

Item 5.   OTHER INFORMATION

          See information contained in Item 9 - Directors, Executive
          Officers, Promoters and Control Persons; Compliance with Section
          16(a) of the Exchange Act in the Company's Form 10-KSB for the
          year ended December 31, 2001 filed on August 20, 2002.

          In March, 2002, the Board of Directors of the Company approved the
          formation of an Executive Committee to negotiate a settlement with
          the SEC as well as address issues arising out of the civil actions
          involving the events at issue in the SEC action; investigate and
          initiate legal proceedings against parties involved in the events
          arising out of the SEC action; and to negotiate the terms and
          conditions of financing for the Company (subject to final Board
          approval).

Item 6.   EXHIBITS AND REPORTS ON FORM 8-K

          (a)  There are no exhibits required to be filed for the period
               covered by this Report.

          (b)  (1)  On or about January 22, 2002, the Company filed a Report
                    on Form 8-K announcing the appointment of Dan H. Curlee
                    as Chief Operating Officer and Ron G. Lakey as Treasurer
                    and Chief Financial Officer.

               (2)  On or about February 14, 2002, the Company filed a
                    Report on Form 8-K announcing that the Company had
                    contacted the Securities and Exchange Commission and
                    has requested that trading in the Company's common
                    stock be suspended because the Company believes that
                    its financial statements will have to be
                    restated for at least the past two (2) years.




<PAGE>                              -10-




               (3)  On or about March 1, 2002, the Company filed a Report on
                    Form 8-K announcing the following:

                    (a)  Eagle Building Technologies, Inc. ("EGBT") has
                         consented to the entry of a preliminary injunction
                         lawsuit brought against it by the Securities and
                         Exchange Commission ("SEC") in the U.S. District
                         Court for the District of Columbia. The Complaint
                         alleges violations of certain provisions of the
                         Securities Exchange Act of 1934 and certain rules
                         and regulations thereunder, resulting from the
                         company's annual and quarterly reports filed for
                         the periods from December 31, 2000 to September
                         30, 2001 and certain press releases issued during
                         the fall of 2001.

                    (b)  On February 14, 2002 the SEC entered an order
                         directing private investigation and designating
                         officers to take testimony in connection with the
                         company's foreign operations and certain post-
                         September 11th security measures marketed by EGBT,
                         including an airport security system, mail
                         sterilization technology and money laundering
                         detection software. The Company has been
                         cooperating with the SEC in its investigation.

                    (c)  Effective February 27, 2002, EGBT's President,
                         Chief Executive Officer, and Chairman of the Board
                         of Directors, Anthony M. Damato, resigned his
                         officer and board positions. In addition, on
                         February 18, 2002, EGBT's outside auditors, Tanner
                         & Co., withdrew their report on the December 31,
                         2000 financial statements and any assurances
                         rendered associated with the financial statements
                         filed in 2000 and 2001.

                    (d)  EGBT has recently discovered that its earnings from
                         operations in India for the years 2000-2001 were
                         intentionally fabricated by Mr. Damato. Preliminary
                         indications are that no earnings from such
                         operations existed. In addition, it appears that
                         certain press releases issued by EGBT in the fall of
                         2001 regarding post-September 11th security measures
                         marketed by EGBT may have been false and misleading.
                         "The company is taking appropriate steps to address
                         these issues and will take whatever future action is
                         necessary based on the results of a comprehensive
                         investigation," according to EGBT Board member Meyer
                         Berman.

                    (e)  EGBT has retained the law firm of Fulbright &
                         Jaworski L.L.P., which has engaged the services of
                         Deloitte & Touche LLP to conduct an investigation of
                         business practices and financial accounting controls
                         and identify opportunities for improvement in EGBT's
                         accounting practices.





<PAG>                               -12-




                    (f)  EGBT is currently in discussions with potential
                         investors to provide additional financing for the
                         company.

               (4)  On or about March 18, 2002, the Company filed a Report on
                    Form 8-K announcing the following changes to the make-up
                    of its board of directors: Charles Gargano, Robert
                    Kornahrens and Ralph Thomson have resigned and Howard
                    Ash and Bruce P. Mauldin have been added to the board.
                    Mr. Ash is the Chairman of Claridge Management and a
                    former Chief Financial Officer of Ives Motors Corporation
                    and Chief Operating Officer of BioCard Corporation.
                    Mr. Mauldin is the President and Chief Executive Officer
                    of Texas Airways, Inc., a Texas holding company and
                    consulting group. EGBT also announced that its board of
                    directors has made the following appointments: board
                    member Meyer Berman has been named Acting Chairman of the
                    Board, board member and Chief Operating Officer Dan Curlee
                    has been named to the additional position of President,
                    and board member and Secretary Don Pollock has been named
                    to the additional position of Treasurer. In addition,
                    Ron Lakey has resigned as Chief Financial Officer.
                    Finally, EGBT announced that it is proceeding with the
                    development of residential housing in Puerto Rico using
                    the IMSI building system.




<PAGE>                              -12-




                                 SIGNATURES

     In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.

                              EAGLE BUILDING TECHNOLOGIES, INC.


   August 29, 2002            By:/S/Dan Curlee
                                 ------------------------------
                                  Dan Curlee, President and CEO



              CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICERS
                    PURSUANT TO 18 U.S.C. SECTION 1350

     In connection with the accompanying quarterly Report on Form 10-QSB of
Eagle Building Technologies, Inc. for the period ended March 31, 2002, Dan
Curlee, President and Chief Executive Officer, and Meyer Berman, Acting Chief
Financial Officer and and Director of Eagle Building Technologies, Inc.
hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge
and belief, that:

     (a)  such quarterly Report on Form 10-QSB for the period ended March 31,
          2002, fully complies with the requirements of section 13(a) or
          15(d) of the Securities Exchange Act of 1934; and

     (b)  the information contained in such quarterly Report on Form 10-QSB
          for the period ended March 31, 2002, fairly presents, in all
          material respects, the financial condition and results of
          operations of Eagle Building Technologies, Inc.

                           EAGLE BUILDING TECHNOLOGIES, INC.



Dated: August 29, 2002     By:/s/Dan Curlee
                              --------------------------------
                              Dan Curlee, President and CEO



Dated: August 29, 2002     By:/s/Meyer Berman
                              --------------------------------
                              Chairman, Acting Chief Financial
                              Officer and Director




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