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 September 30, 1999


                                    0-26322

                             Commission File Number

                        EAGLE CAPITAL INTERNATIONAL, LTD.



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


        1900 Corporate Blvd., 4th Floor, East Tower, Boca Raton, FL 33431
                    (Address of principal executive offices )


                                 (561) 988-2550
                (Issuer's telephone number, including area code)


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 ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                         DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of

            securities under a plan confirmed by a court. Yes   No X

                      APPLICABLE ONLY TO CORPORATE ISSUERS

There  were  6,635,998  shares of  Common  Stock,  $.01 par  value,  issued  and
outstanding at December 15, 1999.


<PAGE>




                        EAGLE CAPITAL INTERNATIONAL, LTD.

                                      INDEX


                         PART I. FINANCIAL INFORMATION

ITEM 1.  Financial Statements

         Balance Sheets - September 30, 1999 (Unaudited) and December 31, 1998

         Statement of Operations - Three months and nine months ended  September
            30, 1999 and 1998 (Unaudited).

         Statement of Cash Flows - Nine months ended September 30, 1999 and 1998
            (Unaudited).

         Notes to Financial Statements.



ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS.



<PAGE>


                        EAGLE CAPITAL INTERNATIONAL, LTD.


                         PART I - FINANCIAL INFORMATION


Item I.  Financial Statements

                        EAGLE CAPITAL INTERNATIONAL, LTD.
                          (A Development Stage Company)

                                  BALANCE SHEET

                                     ASSETS

                                           September 30,    December 31,
                                              1999              1998
                                           (Unaudited)
CURRENT ASSETS:

    Cash                                  $   221,100        $      48

     TOTAL CURRENT ASSETS                     221,100               48

OTHER ASSETS -
  License rights                               60,000                -
  Equipment deposits                          219,100          117,100
  Investments in joint ventures             2,539,114                -
  Investment in IMSI                        2,625,000                -

     TOTAL OTHER ASSETS                     5,443,214                -

TOTAL ASSETS                              $ 5,664,314        $ 117,148



                      LIABILITIES AND STOCKHOLDERS' EQUITY


                                         September 30,    December 31,
                                            1999              1998
                                          (Unaudited)

CURRENT LIABILITIES:

  Accounts payable                       $    82,911      $  55,264
  Notes payable due joint venture
    partners                                 239,500            -
  Notes payable - other                      110,510            -

    TOTAL CURRENT LIABILITIES                432,921         55,264

SHAREHOLDERS' EQUITY:

Preferred Stock A, $.001 par value
10,000,000 shares authorized,
1,586,400 and 1,586,400 shares
issued and outstanding                         1,586          1,586

Preferred Stock B, $.001 par value
1,000,000 shares authorized,
947,053 and 0 shares
issued and outstanding                           947              0

Common Stock, $.001 par value
70,000,000  shares  authorized
2,642,118 and 1,997,918, issued
and outstanding at September 30,
1999 and December 31, 1998                     2,642          1,998

Additional paid in capital                 7,255,613        820,768
Deficit accumulated prior to
    January 1, 1998                         (708,682)      (708,682)
Deficit accumulated during
    development stage (from
    January 1, 1998)                      (1,320,713)       (53,786)
     TOTAL STOCKHOLDERS' EQUITY            5,231,393         61,884

TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY                   $ 5,664,314      $ 117,148


See accompanying notes to financial statements.

<PAGE>



                        EAGLE CAPITAL INTERNATIONAL, LTD.
                          (A Development Stage Company)
                             STATEMENT OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                     From inception
                                                                                     of Development

                                      Three Months Ended       Nine Months Ended     Stage
                                        September 30,            September 30,       January 1, 1998 to
                                      1999         1998        1999         1998     September 30, 1999
<S>                                <C>          <C>         <C>          <C>       <C>
TOTAL REVENUES                       $    -       $    -       $ 5          $         $       -


GENERAL AND ADMINISTRATIVE
 EXPENSES:

  Accounting                           3,000          -         38,805                       44,380
  Advertising                         12,500          -         25,625                       28,950
  Auto expense                           -            -          4,586                        4,586
  Bank charges                           488          -            801                        1,421
  Consulting fees                     24,400       39,349      897,040       39,349         902,127
  Financing fees                         -            -        106,500                      106,500
  Interest                               -            -            504                          504
  Leases                                 -            -         24,000                       24,000
  Legal fees                          31,000          -         88,179                       94,096
  Miscellaneous expense                4,771          -         30,566                       36,683
  Office expense                       4,330          -          8,829                       23,161
  Rent                                 3,390          -          8,690                        8,690
  Taxes and licenses                     -            -            229          800             479
  Telephone                            2,060          -          8,590                       16,222
  Travel expense                       7,925          -         23,984                       28,104

             TOTAL EXPENSE          $ 93,864     $ 39,349   $1,266,928    $  40,149      $1,319,913

PROVISION FOR INCOME TAXES               -            -

NET LOSS                            $ 93,864     $ 39,349   $1,266,928    $  40,149

</TABLE>


See accompanying notes to financial statements.

<PAGE>


                        EAGLE CAPITAL INTERNATIONAL, LTD.
                          (A Development Stage Company)
                             STATEMENT OF CASH FLOWS
                                  ( Unaudited )


                                                            From inception
                                                            of Development
                                      Nine Months Ended     Stage
                                        September 30,        January 1, 1998 to
                                      1999         1998      September 30, 1999

CASH FLOWS FROM OPERATING
 ACTIVITIES:

  Net loss                         $(1,266,928)  $ (40,149)    $(1,320,713)
  Amortization                            -          1,429           1,429
  Stock issued for services            688,400      32,250         588,400
  Increase in accrued liabilities      138,157      (1,382)        190,561

     Net cash used by operations      (440,371)     (7,852)       (440,323)

CASH USED BY INVESTING
 ACTIVITIES:

  Deposits on equipment               (162,000)        -          (162,000)

CASH USED BY FINANCING
 ACTIVITIES:
  Payments to notes to joint
    venture partners                  (210,500)        -          (210,500)
  Loan                                     -         7,852           7,852
  Cash for sale of stock             1,033,923       7,852         823,423

     Net cash provided by
        financing activities           823,423       7,852         823,423

NET INCREASE IN CASH                   221,052         -           221,100

CASH AT BEGINNING OF PERIOD                 48         -               -

CASH AT END OF PERIOD                  221,100         -           221,100




See accompanying notes to financial statements.

<PAGE>
                       EAGLE CAPITAL INTERNATIONAL, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                              (September 30, 1999)


     NOTE 1 - THE COMPANY

                      Eagle Capital  International,  Ltd. (the Company)
                      (formerly IAC, Inc.) is a Nevada  corporation  involved in
                      the manufacturing, worldwide marketing and distribution
                      of block building system products.

     NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

                      Basis  of   Presentation   -The   accompanying   unaudited
                      consolidated  financial  statements  have been prepared in
                      accordance with generally accepted  accounting  principles
                      for interim financial information and with instructions to
                      Form 10-QSB and Regulation S-B.  Accordingly,  they do not
                      include all of 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)  considered necessary for a fair presentation
                      have been included. For further information,  refer to the
                      consolidated  financial  statements and footnotes  thereto
                      included in the Company's annual report on Form 10-KSB for
                      the year ended December 31, 1998.

                      In order to maintain consistency and comparability between
                      periods presented,  certain amounts have been reclassified
                      from the previously reported financial statements in order
                      to conform with the financial  statement  presentation  of
                      the current period.

                      Organizational  Costs - The Company has adopted  statement
                      of  Position  (SOP) No.  98-5,  Reporting  on the Costs of
                      Start-up Activities.  In accordance with SOP No. 98-5, the
                      Company has expensed all organizational costs.

                      Cash and Cash  Equivalents - For purposes of the statement
                      of cash flows, the Company  considers  investments with an
                      original  maturity  of less than  three  months to be cash
                      equivalents.

                      Accounting Method - The Company's financial statements are
                      prepared  using  the  accrual  method of  accounting.  The
                      Company has elected a December 31 year-end.

                      Development  Stage  Company  Reclassification  - Effective
                      January  1,  1998,  the  Company  was  reclassified  as  a
                      development   stage  company,   which  was  a  retroactive
                      reclassification  based upon  termination  of a management
                      contract  entered  into by the Company  while it was still
                      IAC,  Inc.  Therefore,  1998 Forms 10-QSB did not disclose
                      cumulative   revenues,   expenses   and  cash  flows  from
                      inception.  1999  cumulative  revenues,  expenses and cash
                      flows  as   reported   in  these   financials   have  been
                      accumulated from the  reclassification  date of January 1,
                      1998.   Based  upon  current   contracts  and  anticipated
                      revenues,   the  company  will  not  be  classified  as  a
                      development stage company for fiscal 2000.

     NOTE 3 - STOCKHOLDERS' EQUITY

                      Net  income  (loss)  per  common  share  is  based  on the
                      weighted average of shares  outstanding during the period.
                      On January 5, 1999 the  Company  amended  its  articles of
                      incorporation as approved by the shareholders, and thereby
                      increased the number of authorized  shares of common stock
                      to 70,000,000 and the amount of authorized preferred stock
                      of  all  present  and  future  classes  was  increased  to
                      20,000,000 shares.

                      Class A  Preferred  - The  Company  authorized  10,000,000
                      shares of Class A preferred  stock (Class A), which may be
                      converted at the holders' option into 2.5 shares of common
                      stock  for  each  share  of  Class  A.  Class  A also  has
                      cumulative  dividend and liquidation  preferential  rights
                      over all other  classes  of stock,  with  dividend  rights
                      equal to 20% of net income commencing with the year ending
                      December 31, 1998.

                      Class B Preferred - The Company has authorized  10,000,000
                      shares of Class B preferred  stock  (Class B) which may be
                      converted at the holders'  option into 10 shares of common
                      stock  for each  share  of Class B held.  Class B does not
                      have  preferential   cumulative  dividend  or  liquidation
                      rights.

<PAGE>
                       EAGLE CAPITAL INTERNATIONAL, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                              (September 30, 1999)

     NOTE 4 - INVESTMENT IN SUBSIDIARIES

                  On  September  30,  1999,  the Company  renegotiated  it's
                  purchase  of  Great  Wall  New  Building  Systems.   Eagle
                  acquired  100% of the  outstanding  common  stock of Great
                  Wall New Building Systems for 168,525 shares of it's Class B
                  preferred stock. The previously  issued shares have been
                  sent in to the  transfer  agent to be canceled and will be
                  reflected in the year end filings.

                  On September 30, 1999, the Company  renegotiated it's purchase
                  of Construction  Technologies of India,  Inc. (CT India).  The
                  company had  previously  issued  103,600 shares of its Class B
                  preferred stock to CT India in exchange for  approximately 40%
                  of CT India's  outstanding  common  stock.  The new deal gives
                  Eagle 70% ownership in CT India for the same amount of Class B
                  preferred stock.

                  On September 30, 1999, the Company  renegotiated it's purchase
                  of Construction  Technologies of Mexico, Inc. (CT Mexico). The
                  Company had  previously  issued  57,250  shares of its Class B
                  preferred stock to Construction  Technologies of Mexico,  Inc.
                  (CT Mexico) in exchange for  approximately  50% of CT Mexico's
                  outstanding  common  stock.  The  Company  has now  agreed  to
                  purchase  90% of the  common  stock of CT  Mexico  for  65,000
                  shares of Eagle Class B preferred stock.

                  The aforementioned  companies will function as subsidiaries of
                  the  Company and the year end  accounting  will  reflect  this
                  fact.

NOTE 5 -          PRIVATE PLACEMENT OFFERING
                  --------------------------

                  On June 16, 1999,  the Company  commenced a Private  Placement
                  Offering (the "Offering") of 1,000,000 Shares of the Company's
                  securities to "accredited  investors" under the Securities Act
                  of 1933, as amended.  The purchase price for each share of the
                  Company's  common stock was $1.00.  The Offering was completed
                  in August, 1999, with all the shares being sold.

NOTE 6 -          EMPLOYMENT AGREEMENTS
                  ---------------------

                  The Company has entered into  employment  agreements with four
                  (4) key officers, each agreement have a term of two (2) years.

                  Anthony D'Amato has been retained as Chief  Executive  Officer
                  and President.

                  Ralph  Thompson  has been  hired as  corporate  Secretary  and
                  Federal Funding Liaison.

                  Mr. Richard Lahey has been retained as a Board Member and
                  Corporate Treasurer.

                  Mr. Andros Savvides has been retained as a Board Member and
                  V.P. of Engineering Design.

NOTE 7 -          CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
                  ----------------------------------------------

                  The  Company  has  an   agreement   with  Drake   Alexander  &
                  Associates,  Inc.  wherein  Drake  Alexander  arranged  for  a
                  $1,000,000   line  of  credit  in  conjunction   with  Fleming
                  Manufacturing Company, Inc. The line of credit will be used by
                  the Company to  purchase  mobile  block  plants  necessary  to
                  fulfill the Company's contractual  obligations in China ,India
                  and Mexico.  Anthony  D'Amato,  Chairman  and Chief  Executive
                  Officer of the  Company is Vice  President  and  Treasurer  of
                  Drake Alexander & Associates, Inc.


<PAGE>

ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS.

The following  discussion relates to the unaudited Financial Statements for the
three month periods ended September 30, 1999 and 1998.

Plan of Operations

The  Registrant  is presently a development  stage  company  conducting
minimal  business  operations.  The company has become  current in its reporting
obligations  under the Securities  Exchange Act of 1934 through the  preparation
and  filing  of  quarterly  and  annual  reports  on  Form  10-QSB  and  10-KSB,
respectively.  Since the Company has become current in its reporting obligations
and  operations  are  commencing  relative  to the Joint  Ventures  in which the
Company is involved in China and India, it plans to remove the development stage
classification at fiscal year end.

The financial statements as of September 30, 1999 have been prepared on the
going concern basis.  Value of new contracts secured was $25 million for the
third  quarter  of 1999  versus $0 for the same  period  in 1998.  For the third
quarter,  quarter-to-quarter  comparisons  show an  increase  in the net loss of
54,515 from a loss of 39,349 in 1998 to a loss of 93,864 in 1999.  Year to date,
the net loss  increased  from 40,148 in 1998 to 1,266,928 in 1999.  These losses
are based  upon one time  purchases  of  equipment  and  interests  in the three
subsidiaries.  Eagle  anticipates  revenues  to begin  from  India in the  first
quarter and to have  significant  revenue in the second  quarter from  contracts
already signed in both India and China and business  opportunities  we are ready
to exploit in Mexico. Based upon current projections,  Eagle anticipates turning
a profit in the 3rd Quarter of 2000.

The  Company  knows of no  unusual or  infrequent  events or  transactions,  nor
significant  economic  changes  that could  materially  affect the amount of its
reported income from continuing  operations for the period ending  September 30,
1999.

Year 2000

Management  has  compiled  a list of  both  internally  and  externally supplied
information  systems  that  utilize  imbedded  date codes  which could
experience  operational  difficulties  in the year 2000.  The Company uses third
party applications or suppliers for all high level systems and reporting.  These
systems  will be tested and if  necessary  replaced.  Management  is testing new
systems for which it is responsible.  The Company is planning  complete internal
computer system  replacement,  which is totally year 2000  compliant.  It is the
Company's  objective to be in year 2000 compliance by the end of September 1999;
however, no assurance can be given that such objective will be met.

<PAGE>


                           PART II - OTHER INFORMATION

Item 1.           LEGAL PROCEEDINGS

                  On July 21,  1999,  the Company was named as a defendant  in a
                  derivative action filed on behalf of the shareholders of IMSI,
                  Inc. The Company was one of multiple  defendants  named in the
                  suit filed in the Third Judicial  District Court for Salt Lake
                  City, Utah.

                  Representatives of Eagle and IMSI have executed a binding
                  letter agreement intended to resolve all disputes between
                  Eagle, IMSI, and certain directors of IMSI, which are the
                  subject of litigation now pending in Utah State Court.  A
                  formal settlement agreement is currently being drafted which
                  will be signed by these parties and presented to the IMSI
                  Board, the Eagle Board, and to the Utah State Court for
                  approval.  The parties anticipate time that the
                  Settlement Agreement will be approved by the IMSI
                  Board, the Eagle Board, and the Utah State Court.  The
                  key terms of the License Agreements have been agreed upon by
                  the parties, and the parties are in the process of drafting
                  the final agreements.  The parties anticipate that the
                  license agreements will be finalized and executed within
                  thirty days.


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

                  On November 11, 1999, the Company appointed Andre S. Savvides
                  a Director.

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) On  August  24,  1999,  the  Company  filed a Current
                      Report on Form 8-K.



                                   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 CAPITAL INTERNATIONAL, INC.

By:_/s/  Anthony D'Amato
   Anthony D'Amato, President

Dated: January 31, 2000