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


                                   FORM 10-QSB
                                 August 16, 1999


                      For the quarter ended: March 31, 1999

                         Commission file number: 0-26322


                        Eagle Capital International, Ltd.


                              a Nevada corporation
                              IRS Number 88-0303769


                         954 East 7145 South Suite B-202
                                  P.O. Box 9354
                                Midvale, UT 84047

                                 (801) 569-0400





Check whether 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
 equity, as of the latest practicable date:
                                2,181,918 shares

Transitional Small Business Disclosure Format (Check one):  Yes ___     No _X_


<PAGE>


                         PART I - FINANCIAL INFORMATION



Item 1.   Financial Statements.




                        Eagle Capital International, Ltd.
                          (A Development Stage Company)
                                  Balance Sheet
                                 March 31, 1999
                                   (Unaudited)



                                     ASSETS
CURRENT ASSETS
Cash in bank                                              (610)
Prepaid expense                                            900
                                                 --------------------
TOTAL CURRENT ASSETS                                       290

OTHER ASSETS
Equipment deposits                               $     125,100
Investments in Joint Ventures                        2,389,114
Investment in IMSI                                   2,625,000
                                                 --------------------
TOTAL ASSETS                                     $   5,139,504
                                                 ====================
















The accompanying notes are an integral part of these financial statements.


<PAGE>


                        Eagle Capital International, Ltd.
                          (A Development Stage Company)
                                  Balance Sheet
                                 March 31, 1999
                                   (Unaudited)

                             LIABILITIES AND EQUITY

CURRENT LIABILITIES
Accounts payable                                               $      103,459
Deposits payable                                                       83,923
Notes payable to Joint Ventures                                       281,000
                                                           --------------------
TOTAL CURRENT LIABILITIES                                     $       468,382
                                                           --------------------

STOCKHOLDERS' EQUITY
Preferred Series A stock, 10,000,000                                    1,586
shares authorized at $.001 par value; 1,586,400
outstanding Preferred Series B stock, 1,000,000
shares authorized at $ .001,                                              911
to be issued
Capital stock, $.001 par value, 70,000,000                              2,182
shares authorized; 2,181,918 shares outstanding
Capital Stock to be issued                                                374
Additional paid in capital                                          6,114,959
Accumulated deficit prior to January 1, 1998                         (801,020)
                                                           --------------------
Accumulated deficit during the development stage                     (647,861)
(from January 1, 1998)
                                                           --------------------

TOTAL STOCKHOLDERS' EQUITY                                          4,671,122

liabilities and stockholders' equity                           $    5,139,504
                                                           ====================




The accompanying notes are an integral part of these financial statements.


<PAGE>


                        Eagle Capital International, Ltd.
                          (A Development Stage Company)

                             STATEMENT OF OPERATIONS
               FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND 1998
                                   (Unaudited)



                                                               From inception of
                                                               Development Stage
                                                               on
                                                               January 1,
                                      1999             1998             1998
                                  --------------   -------------   ------------
TOTAL REVENUES
                                  --------------   -------------   ------------


GENERAL AND
ADMINISTRATIVE EXPENSES
Accounting                      $   7,925                              13,500
Advertising                         5,460                               8,785
Auto expense                        4,586                               4,586
Bank charges                          174                                 794
Consulting fees                   498,640                             504,539
Legal fees                         31,686                              37,603
Miscellaneous                      28,889                              29,914
Office                              7,637                              17,063
Rent                                  700                                 700
Taxes and licenses                    229                                 476
Telephone and utilities             2,232                               9,863
Travel                              5,117                              19,238

                                -------------                     -------------
TOTAL EXPENSES                    593,275                             647,061
                                -------------                     -------------

Income taxes                          800                                 800

Net (loss)                   $   (593,275)       $     (800)      $  (647,861)
                               ==============    ==============   =============

Loss per share               $      (0.27)       $    (0.00)      $     (0.30)




The  accompanying  notes are an  integral  part of these financial statements.


<PAGE>


                             STATEMENT OF CHANGES IN
                         STOCKHOLDERS' EQUITY (DEFICIT)
               For the Three Months Ended March 31, 1999 and 1998
                                   (Unaudited)
<TABLE>

                             Common Stock              Preferred Stock

<S>                      <C>       <C>             <C>        <C>           <C>         <C>             <C>
                                                                                Paid-in     Accumulated
                             Amount   To be issued    Amount     To be issued   Capital       Deficit         Total
Balance at
   December 31, 1997       $ 4,402                    $ 2,500                  $699,027    $ (708,682)       $(2,753)
Net loss for quarter                                                                             (800)         (800)
                          ------------------------------------------------------------------------------------------------

Balance at
   March 31, 1998          $ 4,402                    $ 2,500                  $699,027     $(709,492)      $ (3,553)
                          ------------------------------------------------------------------------------------------------

Balance at
  December 31, 1998        $ 1,998                    $ 1,586                  $913,915   $ (855,615)        $ 61,884
                          ------------------------------------------------------------------------------------------------

Issue 244,178 shares
of Preferred B and
12,849 shares of Common
for GW Investment
                                         $  128                     $  244   $1,284,492                    $1,284,864

Issue 98,420 shares of
Preferred B and 5,180
shares of Common for CT
India Investment
                                             52                         98      517,850                       518,000

Issue 54,387 shares of
Preferred B and 2,863
shares of Common for CT
Mexico Investment
                                             29                         54      286,167                       286,250

Issue  514,00  shares of
Preferred B and  125,000
shares of Common to purchase
5,000,000 shares of IMSI stock
                                            105                        515    2,624,380                     2,625,000

Issue 184,000 shares for
services                           184                                          367,816                       368,000

Issue 60,200 shares for
services                                     60                                 120,340                       120,400

Net loss for quarter                                                                         (593,275)      (593,275)
                          ------------------------------------------------------------------------------------------------

Balance at
      March 31, 1999       $ 2,182       $  374       $ 1,586       $  911   $6,114,960   $(1,448,890)    $4,671,123)
                          ================================================================================================
</TABLE>


The accompanying notes are an integral part of these financial statements.


<PAGE>


                        Eagle Capital International, Ltd.
                          (A development Stage Company)
                             STATEMENT OF CASH FLOWS
                                   (Unaudited)
<TABLE>

<S>                                                   <C>                <C>               <C>

                                                                                               From inception of
                                                                                               Development Stage
                                                                                                       on
                                                                                                   January 1,
                                                            1999                 1998                 1998
Cash Flows from Operating Activities:
   Net Loss                                              $   (593,275)        $    (52,211)       $    (647,061)
   Amortization                                                                                           1,429
   Stock issued for services                                  488,400                4,317              488,400
   Increase in deposits                                          (900)                                     (900)
   Increase in accrued liabilities                            132,118               38,310              184,522

   New cash provided (used) by operations                      26,342               (9,584)              26,390


Cash used by investing activities:
   Deposits on equipment                                       (8,000)                                   (8,000)

Cash used by financing activities:
   Payments on notes to JV partners                           (19,000)                                  (19,000)

Net decrease in cash                                             (658)              (9,584)                (610)

Cash at beginning of year                                          48               11,713

Cash at end of year                                   $          (610)       $       2,129       $         (610)
                                                     ===================  ===================  ===================


Supplemental Information:
Issued 244,200 shares of Common Stock
    for services                                          $   488,400                              $    488,400
Issued 20,892  shares of Common Stock and
    396,931 shares of Preferred B Stock in
    exchange for JV partner investments                     2,089,114                                 2,089,114
Incurred obligation for additional investment
    in JV partners                                            300,000                                   300,000
Issued Common Stock for the purchase of
    the net assets of IMSI Cap Fund, Inc.                                                               118,423
                                                     ===================  ===================  ===================



</TABLE>


The accompanying notes are an integral part of these financial statements.


<PAGE>


                        Eagle Capital International, Ltd.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
               FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND 1998

Note  1  -  Organization,  operations  and  summary  of  significant  accounting
policies:

Organization:

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.

Estimates:

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amount  of  assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.

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.



<PAGE>


                        Eagle Capital International, Ltd.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS
               FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND 1998

NOTE 2 - STOCKHOLDERS' EQUITY

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.

NOTE 3 - INVESTMENT IN JOINT VENTURES

On January 15, 1999,  the company issued 257,027 shares of its Class B preferred
stock to Great Wall New Building Systems,  Inc. (Great Wall) in exchange for 64%
of the Great Wall's  outstanding  common stock. Great Wall is an entity that has
conducted the  development of the IMSI block system in the Peoples'  Republic of
China.  Prior to the Company's purchase of Great Wall's common stock, Great Wall
had raised approximately $425,000 from private investors.  This acquisition will
be accounted for as a purchase at fair market values and the operations  will be
consolidated when the acquisition is complete.  Although  agreement in principle
for this  purchase  was  reached on January 15,  1999,  the Company did not have
effective  financial  control of Great Wall because the final  acquisition terms
had not been completed yet.

On January 19,1999,  the Company issued 103,6000 shares of its Class B preferred
stock to  Construction  Technologies  of India,  Inc. (CT India) in exchange for
approximately  40% of CT India's  outstanding  common  stock.  In addition,  the
Company  agreed to purchase an additional  600,000 shares from CT India at $0.25
per share for a total  purchase  price of  $150,000.  This  acquisition  will be
accounted  for as a purchase at fair market  values and the  operations  will be
consolidated when the acquisition is complete.  Although  agreement in principal
for this  purchase  was  reached on January 19,  1999,  the Company did not have
effective  financial control of CT India because the final acquisition terms had
not been completed yet.

On January 19, 1999,  the Company  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.  In addition,  the
Company agreed to purchase an additional  600,000 shares from CT Mexico at $0.25
per share for a total  purchase  price of  $150,000.  This  acquisition  will be
accounted for as a purchase at their fair market values and the operations  will
be  consolidated  when  the  acquisition  is  complete.  Although  agreement  in
principle for this purchase was reached on January 19, 1999, the Company did not
have  effective  financial  control of CT Mexico  because the final  acquisition
terms had not been completed yet.





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 March 31, 1999 and 1998, which are included in
Item 1 above.

Basis of Presentation and Plan of Operations
         The financial statements as of March 31, 1999 have been prepared on the
going concern basis. Eagle Capital International, LTD., has reported significant
losses from its  reorganization  effective January 1, 1998,  however the Company
has formulated an aggressive business plan to manufacture, market and distribute
construction  and  building  methods in major  global  markets.  The  company is
implementing  its agenda by pursuing the following two strategies:  creating and
expanding  residential,   commercial  and  industrial  construction  markets  in
strategic  locations  throughout  the world  and by  providing  related  capital
production  equipment  and  components  for lease or purchase  to joint  venture
partners and affiliated licensees as needed.

Liquidity
The Company  obtained  additional  capital funding in the second quarter of 1999
through the issuance of additional common stock.

Discussion of Quarterly Results
The Company has entered into  negotiations  for stock  ownership and partnership
agreements for patented and  trademarked  surface  bonding  products and related
production plants, and expects to finalize these agreements in the current year.

The Company has  purchased  stock in three joint  venture  partnerships  (China,
India, and Mexico) to market, sell and distribute building products. The Company
expects revenues from these ventures in the current year.



<PAGE>



                           PART II - OTHER INFORMATION

Item 1.   Legal Proceedings.
         NA.
Item 2.   Changes in Securities.
         See Note 2 of the Financial Statements.
Item 3.   Defaults Upon Senior Securities.
         NA.
Item 4.   Submission of Matters to a Vote of Security Holders.
         NA.
Item 5.   Other Information.
         During the period ended March 31, 1999,  the Company was unable to meet
its commitments to its JV Partner in South Africa and subsequently forfeited its
position in that venture.
Item 6.   Exhibits and Reports on Form 8-K.
         a.  Exhibits
                  NA
         b.  Reports on Form 8-K.
                  No reports have been filed on Form 8-K during this quarter.

/S/   Anthony D'Amato, President
August 16, 1999