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


                                   FORM 10-QSB
                                 August 20, 1999


                      For the quarter ended: June 30, 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:
                       3,159,993 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
                                  June 30, 1999
                                   (Unaudited)

                                     ASSETS
<TABLE>
<S>                                                                             <C>


CURRENT ASSETS
Cash                                                                                $       81,436
                                                                                  --------------------
TOTAL CURRENT ASSETS                                                                        81,436
                                                                                  --------------------

OTHER ASSETS
   Deposits on equipment                                                                   190,100
   License rights                                                                           60,000
   Investment in Joint Ventures                                                          2,539,114
   Investment in IMSI                                                                    2,625,000
                                                                                  --------------------
TOTAL OTHER ASSETS                                                                       5,414,214
                                                                                  --------------------

TOTAL ASSETS                                                                         $   5,495,650

                                                                                  ====================
</TABLE>
                      LIABILITIES AND STOCKHOLDERS' EQUITY
<TABLE>
<S>                                                                             <C>

CURRENT LIABILITIES
   Accounts payable                                                                $        95,393
   Additional investments in Joint Ventures                                                275,000
                                                                                  ====================
TOTAL CURRENT LIABILITIES                                                            $     370,393
                                                                                  ====================

STOCKHOLDERS' EQUITY
Preferred Series A stock, 10,000,000
shares authorized at $.001 par value; 1,586,400 outstanding                                  1,586
Preferred Series B stock, 1,000,000 shares authorized at $ .001,
to be issued                                                                                   911
Capital stock, $.001 par value, 70,000,000
shares authorized; 3,159,993 shares outstanding                                              3,160
Capital Stock to be issued                                                                     374
Additional paid in capital                                                               7,114,957
Accumulated deficit prior to January 1, 1998                                              (801,020)
Accumulated deficit during the development stage
(from January 1, 1998)                                                                  (1,194,711)
                                                                                  --------------------
TOTAL STOCKHOLDERS' EQUITY                                                               5,125,257
                                                                                  ====================

TOTAL LIABILITIES AND STOCKHOLDERS EQUITY                                            $   5,495,650
                                                                                  ====================

</TABLE>

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 JUNE 30, 1999 AND 1998
                                   (Unaudited)

<TABLE>
<S>                                              <C>                   <C>                  <C>
                                                                                               From inception of
                                                                                               Development Stage
                                                                                                       on
                                                                                                   January 1,
                                                            1999                 1998                 1998
                                                     -------------------  -------------------  -------------------
TOTAL REVENUES
                                                     -------------------  -------------------  -------------------


GENERAL AND ADMINISTRATIVE EXPENSES
Accounting                                               $     27,880                              $     41,380
Advertising                                                     7,665                                    16,450
Auto expense                                                                                              4,586
Bank charges                                                      139                                       933
Interest                                                          504                                       504
Financing fees                                                106,500                                   106,500
Consulting fees                                               434,200                                   938,739
Legal fees                                                     25,493                                    63,096
Miscellaneous                                                   1,998                                    31,912
Office                                                          1,768                                    18,831
Rent                                                            4,600                                     5,300
Taxes and licenses                                                                                          479
Telephone and utilities                                         4,299                                    14,162
Travel                                                            941                                    20,179

                                                     -------------------
                                                                                               -------------------
TOTAL EXPENSES                                                639,987                                 1,287,048
                                                     -------------------                       -------------------

income taxes                                                                           800                  800

net loss                                                 $    639,987       $          800         $  1,287,848
                                                     ===================  ===================  ===================

NET (LOSS) PER SHARE                                    $     (0.20)           $   (0.00)          $    (0.41)


</TABLE>





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 SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)

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

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


GENERAL AND ADMINISTRATIVE EXPENSES
Accounting                                             $       35,805                             $      41,380
Advertising                                                    13,125                                    16,450
Auto expense                                                    4,586                                     4,586
Bank charges                                                      313                                       933
Consulting fees                                               932,840                                   938,739
Equipment leases                                               24,000                                    24,000
Interest                                                          504                                       504
Legal fees                                                     57,179                                    63,096
Miscellaneous                                                  30,887                                    31,912
Office                                                          9,405                                    18,831
Rent                                                            5,300                                     5,300
Taxes and licenses                                                229                                       479
Telephone and utilities                                         6,531                                    14,162
Travel                                                          6,058                                    20,179

                                                                                               -------------------
                                                     ===================
TOTAL EXPENSES                                              1,126,762                                 1,287,048
                                                     ===================                       ===================

INCOME TAXES                                                                           800                  800

                                                                                               ===================
NET LOSS                                                 $  1,126,762      $           800         $  1,287,048
                                                     ===================  ===================  ===================

NET (LOSS) PER SHARE                                   $        (0.36)    $                      $       (0.41)
                                                                          (0.00)




</TABLE>



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


<PAGE>


                             STATEMENT OF CHANGES IN
                         STOCKHOLDERS' EQUITY (DEFICIT)
                 For the Six Months Ended June 30, 1999 and 1998
                                   (Unaudited)
<TABLE>
<S>                    <C>           <C>          <C>          <C>           <C>           <C>            <C>

                                          Common       Class A      Class A     Additional     Retained
                          Common Stock Stock to be    Preferred    Preferred     paid-in       earnings
                                          issued        Stock     to be issued   capital      (deficit)        Total

Balance at
   March 31, 1998              $ 4,402                    $ 2,500                  $699,027     $(708,682)      $ (2,753)

Net loss for quarter                                                                                   800            800
                          ================================================================================================
Balance at
  June 30, 1998                $ 4,402                    $ 2,500                  $699,027   $ (709,492)       $ (3,553)
                          ================================================================================================

Balance at
    March 31, 1999             $ 2,182       $  374       $ 1,586        $ 911   $6,114,960   $(1,448,890)    $   61,884

Sale of 600,000
    shares for cash                             600                                 833,323                       833,923

Re-classify paid-in
    capital to
    accumulated
    deficit                                                                        (93,147)         93,147              0
Issue 200,000 shares
    for services                   200                                              199,800                       200,000

Issue 60,200 shares
    previously
    classified as "Stock
    to be issued"                     60       (60)                                 120,340                       120,400

Net loss for quarter                                                                             (579,788)
                          ------------------------------------------------------------------------------------------------

Balance at
      June 30, 1999            $ 2,442       $  914       $ 1,586       $  911   $7,054,936   $(1,935,531)    $4,671,122)
                          ================================================================================================



</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
                 FOR THE SIX MONTHS ENDED JUNE 30, 1999 AND 1998
                                   (Unaudited)
<TABLE>
<S>                                                <C>                 <C>                 <C>

                                                                                               From inception of
                                                                                               Development Stage
                                                                                                       on
                                                                                                   January 1,
                                                            1999                 1998                 1998
Cash Flows from Operating Activities:
   Net Loss                                            $   (1,173,063)        $    (52,211)      $   (1,119,277)
   Amortization                                                                                           1,429
   Stock issued for services                                  688,400                4,317              688,400
   Increase in deposits
   Increase in accrued liabilities                             40,128               38,181              (15,039)

                                                     -------------------  -------------------  -------------------
   New cash provided (used) by operations                    (444,535)             (11,713)            (444,487)


Cash used by investing activities:
   Deposits on equipment                                     (133,000)                                 (133,000)

Cash used by financing activities:
   Payments to JV partners                                   (175,000)                                 (175,000)
   Cash from sale of stock                                    833,923                                   833,925
                                                     -------------------                       -------------------
                                                              658,925                                   658,925
                                                     -------------------                       -------------------

Net increase in cash                                           81,390              (11,713)              81,438

Cash at beginning of period                                        48               11,713

Cash at end of period                                $          81,438    $                0   $         81,438
                                                     ===================  ===================  ===================


Supplemental Information:
Issued 200,000 shares of Common Stock
    for services                                          $   200,000                              $    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
Incurred obligation for additional investment
    in JV partners                                            150,000                                   450,000
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 SIX MONTHS ENDED JUNE 30, 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.

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.


<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 June 30, 1999 and 1998,  which are included in
Item 1 above.

Basis of Presentation and Plan of Operations
         The financial  statements as of June 30, 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 during the three months ended June 30, 1999 through
the issuance of common  stock.  This funding was  completed on August 4, 1999 in
the amount of One Million Dollars ($1,000,000).
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.

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.

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 six months ended June 30,
1999.


                           PART II - OTHER INFORMATION
Item 1.   Legal Proceedings.
         On July  21,  1999 a  derivative  action  was  filed on  behalf  of the
shareholders  of IMSI,  Inc.  naming the  Company as one of a group of  multiple
defendants.  The Company is presently investigating the allegations set forth in
the  complaint  and is not yet in a position  to  evaluate  the  allegations  or
determine the impact of the allegations on the operations of the Company.

Item 2.   Changes in Securities.
         NA.
Item 3.   Defaults Upon Senior Securities.
         NA.
Item 4.   Submission of Matters to a Vote of Security Holders.
         NA.
Item 5.   Other Information.
         NA.
Item 6.   Exhibits and Reports on Form 8-K.
         a.  Exhibits
                  NA
         b.  Reports on Form 8-K.
                  Attached.

/S/   Anthony D'Amato, President
August 20, 1999