UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended October 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to ____________
Commission File Number 0-11718
Stevia Company, Inc.
(Exact name of registrant as specified in its charter)
Illinois 36-2967419
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1940 East Devon Avenue, Elk Grove Village, Illinois 60007
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (847)
593-0226
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 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
Number of shares outstanding of common stock as of the close of
the period covered by this report: 32,195,300
Page 1 of 20 pages contained in the sequential numbering system.
<PAGE>
STEVIA COMPANY, INC.
PART 1 - FINANCIAL INFORMATION
Item 1. FINANCIAL STATEMENTS
Board of Directors and Shareholders
Stevia Company, Inc.
Elk Grove Village, Illinois
The accompanying balance sheet of STEVIA COMPANY, INC. at
October 31, 1997 and the related statements of operations,
shareholders' equity and cash flow for the three and six month
periods ended October 31, 1997 and 1996 were not audited;
however, the financial statements for the three and six month
periods ending October 31, 1997 and 1996 reflect all adjustments
(consisting only of normal reoccurring adjustments) which are, in
the opinion of management, necessary to provide a fair statement
of the results of operations for the interim period presented.
The financial statements for the year ended April 30, 1997
were not audited pursuant to Rule 210.3-11 promulgated under
Securities and Exchange Act of 1934; however, the financial
statements for the fiscal year ending April 30, 1997 reflect all
adjustments (consisting only of normal reoccurring adjustments)
which are, in the opinion of management, necessary to provide a
fair statement of the results of operations for the fiscal year
presented.
STEVIA COMPANY, INC.
December 9, 1997
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
BALANCE SHEET
ASSETS
<CAPTION>
October 31,1997 April 30, 1997
Unaudited Unaudited
<S> <C> <C>
CURRENT ASSETS
Cash 864 6,574
Accounts Receivables-other 0 9,668
Inventories 25,323 25,323
Prepaid Expenses 492 5
Total Current Assets 26,679 41,570
PROPERTY AND EQUIPMENT (Notes 1 and 3)
Land 1,127 1,127
Furniture and Equipment 44,750 44,750
Building 483,200 483,200
Idle Equipment 121,728 121,728
650,805 650,805
Less: Accumulated Depreciation
(106,572) (98,902)
544,233 551,903
OTHER ASSETS
Patents, Net of Amortization 12,334 13,115
Investment in Affiliated Company
(Note 4) - -
--------------- ----------------
</TABLE>
<TABLE>
<CAPTION>
LIABILITIES AND SHAREHOLDERS' EQUITY
<S> <C> <C>
CURRENT LIABILITIES
Accounts Payable 31,709 43,849
Notes Payable-Officer
(Notes 4 and 6) 0 7,588
Due to Affiliates (Note 4) 358,904 349,286
Accrued Executive Compensation
124,524 124,524
Deferred Rent 312 309
Accrued Expenses 9,214 6,597
Total Current Liabilities 524,663 532,153
-------------- --------------
NON-CURRENT LIABILITIES
Tenant Security Deposit 3,245 3,245
COMMITMENTS AND CONTINGENCIES
(Notes 5, 9 and 10) - -
SHAREHOLDERS' EQUITY (Notes 4 and 7)
Common Stock, No Par Value, 100,000,000
Shares Authorized as of April 30, 1997
and October 31, 1997; Issued 32,195,300
Shares at April 30, 1997 and October 31, 1997
2,088,001 2,088,001
Additional Paid in Capital 100 100
Accumulated Deficit (2,032,763) (2,016,911)
55,338 71,190
583,246 606,588
------------------ ---------------
The accompanying notes are an integral part of the financial
statements.
</TABLE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF OPERATIONS
<CAPTION>
Unaudited
Three Months Ended Six Months Ended
October 31, October 31,
1997 1996 1997 1996
<S> <C> <C> <C> <C>
REVENUES
Sales - - - -
COST OF SALES - - - -
Gross Profit (Loss) - - - -
OPERATING EXPENSES
Marketing - - - 28
Research and Development 390 260 780 650
General and Administrative
15,388 15,616 28,567 28,967
15,778 15,876 29,347 29,645
Loss From Operations (15,778) (15,876) (29,347) (29,645)
OTHER INCOME AND (EXPENSE)
Rental Income 6,713 5,954 13,163 11,908
Interest Income 332 - 332 -
7,045 5,954 13,495 11,908
NET LOSS (8,733) (9,922) (15,852) (17,737)
--------------- ------------ ----------- -------------
NET LOSS PER COMMON SHARE
(Note 8) (.001) (.001) (.001) (.001)
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 32,195,300 32,195,300 32,195,300 32,195,300
------------- ----------- ------------ ----------
The accompanying notes are an integral part of the financial
statements.
</TABLE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF SHAREHOLDERS' EQUITY
SIX MONTHS ENDED OCTOBER 31, 1997
Unaudited
<CAPTION>
Total
Additional Share-
Common Stock Paid-In holders'
Shares Amount Capital (Deficit) Equity
<S> <C> <C> <C> <C> <C>
BALANCE
May 1, 1997 32,195,300 2,088,001 100 (2,016,911) 71,190
NET INCOME (LOSS) - - - ( 15,852) (15,852)
BALANCE,
October 31, 1997
32,195,300 2,088,001 100 (2,032,763) 55,338
---------------- ------------- ------ ------------ -----------
The accompanying notes are an integral part of the financial
statements
</TABLE>
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF CASH FLOW
Unaudited
<CAPTION>
Six Months Ended October 31,
1997 1996
<S> <C> <C>
OPERATING ACTIVITIES:
Net Loss (15,852) (17,737)
Adjustments to Reconcile Net (Loss) to Net
Cash Used by Operating Activities:
Depreciation and Amortization 8,451 7,043
Changes in Operating Assets and Liabilities:
(Increase) Decrease in Accounts Receivable
9,668 -
(Increase) Decrease in Inventories
and Prepaid Expenses
( 487) ( 524)
Increase (Decrease) in Accounts Payable and
Accrued Expenses ( 9,520) ( 1,611)
Increase (Decrease) in Due to Affiliates
(Note 4) 9,618 10,079
Net Cash Provided (Used) by Operating
Activities 1,878 ( 2,750)
INVESTING ACTIVITIES:
Net Cash Provided (Used) by
Investing Activities - -
FINANCING ACTIVITIES:
Proceeds From (Repayments of) Notes
(Note 6) ( 7,588) 2,000
Net Cash Provided (Used) by Financing
Activities ( 7,588) 2,000
Increase (Decrease) in Cash and
Cash Equivalents ( 5,710) ( 750)
Cash and Cash Equivalents at
Beginning of Period 6,574 1,431
Cash and Cash Equivalents at End of Period
864 681
------------- ---------------
The accompanying notes are an integral part of the financial
statements.
</TABLE>
<TABLE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies:
Inventories - Harvested crop inventories are stated at the lower
of cost (determined by actual specific production cost) or market
value (less estimated cost of disposal).
Components of inventories are as follows:
October 31, 1997 April 30, 1997
Seeds 18,361 18,361
Leaves 6,962 6,962
$ 25,323 $ 25,323
-------------- ---------------
Research and Development, and Patents - Research and
development expenditures, including depreciation of
laboratory equipment, are charged to operations as incurred.
The costs of obtaining patents, primarily legal fees, are
capitalized and amortized over seventeen years on the
straight-line method.
Property and Equipment - Property and equipment are stated
at cost. Depreciation and amortization are computed,
primarily on the straight-line and accelerated methods, over
the estimated useful lives of the respective assets.
Repairs and maintenance are charged to expenses as incurred;
renewals and betterments which significantly extend the
useful lives of existing property and equipment are
capitalized.
2. Company Organization and Description:
Stevia Company, Inc. was incorporated under the laws of the
State of Illinois on November 22, 1976.
The Company was organized primarily to engage in the
business of developing and manufacturing natural products,
including sweeteners, derived from the Stevia rebaudiana
plant.
3. Property and Equipment:
In 1986, the Company completed construction of a building
for a sweetener production facility in Pueblo, Colorado on a
parcel of land (25 acres) owned by the Company. The net
price for construction of the building was $483,200. The
Company also purchased certain equipment for its processing
facility. Completion of the processing facility was
terminated in 1987 due to lack of funds. See Footnote 11.
On September 1, 1993, the Company entered into a three-year
lease for its Pueblo, Colorado facility with an unaffiliated
third party. The tenant was granted two one-year options
and a first right of refusal to purchase the Pueblo,
Colorado facility in the event the Company sells or
otherwise disposes of the facility. The lease provides for
base rent of $19,473 for the first two years, $20,466 for
the third year, $22,394 for the first option year and
$23,264 for the second option year.
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
4. Related Party Transactions:
The Company was indebted to affiliated companies as follows:
October 31, April 30,
1997 1997
F.K. Suzuki International, Inc. $ 70,412 $ 70,412
Biosynergy, Inc. $ 288,492 $ 278,874
Totals $ 358,904 $ 349,286
------------- ------------
The amount due to F.K. Suzuki International, Inc. is the net
license fees due under an irrevocable exclusive license
agreement with F.K. Suzuki International, Inc. described in
Note 9, less certain prepayments and discounts with regard
to such license agreement.
The Company shares common offices with Biosynergy, Inc.
Each company has incurred certain shared office expenses
which have been allocated to the other company. The Company
had a net payable of $288,492 at October 31, 1997 as
compared to a net payable of $278,874 at April 30, 1997.
The Company and its affiliates are related through Common
Stock ownership as follows on October 31, 1997.
S T O C K O F A F F I L I A T E S
<S> <C> <C> <C> <C>
F.K. Suzuki
Stevia Biosynergy International Medlab
Stock Owner Company Inc. Inc. Inc.
Stevia Company, Inc. - 13.8% - -
Biosynergy, Inc. .4% - - -
F.K. Suzuki
International, Inc. 55.8% 18.8% - 100.0%
Medlab, Inc. - - - -
Fred K. Suzuki, Officer/ - - 35.6% -
Director
Lauane C. Addis, Officer/ .1% .1% 32.7% -
Director
James F. Schembri, .2% 12.9% - -
Director
</TABLE>
On July 7, 1983, Biosynergy, Inc. (an affiliated company)
successfully completed a public offering. As part of this
public offering the Company exchanged 1,058,181 shares of
its Common Stock for 2,000,000 shares of Biosynergy, Inc.'s
Common Stock. The Common Stock of the Company had no book
value at the time of the exchange; thus no dollar value was
assigned to the transaction. The Company sold 100,000 of
these shares. Although Biosynergy, Inc.'s Common Stock can
be traded in the over-the-counter market, there is no
established public trading market for such Common Stock due
to limited and sporadic trades.
In June, 1993, Fred K. Suzuki, President of the Company,
advanced $7,587.75 to the Company for
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
payment of the Company's share of the costs, including legal
fees, of settling a lawsuit. This advance was repaid during
the six-month period ended October 31, 1997. See also Note
6.
5. Lease Commitments:
The Company shares offices in Elk Grove Village, Illinois
with Biosynergy, Inc. The master lease for these offices,
which expires January 31, 2001, is in the name of
Biosynergy, Inc. The total annual base rent for these
premises is $60,500.00 for 1 year, $68,199.96 for years 2
and 3, and $69,300.00 for years 4 and 5. The Company's
portion is $9,075.00 for year 1, $10,230.00 for years 2 and
3, and $10,395.00 for years 4 and 5.
6. Notes Payable:
Notes Payable - Officer consists of the following:
. an unsecured note dated July 1, 1993 in the
original amount of $7,588 payable to Fred K.
Suzuki, President. The note is due on demand and
bears interest at 10% per annum. This note was
repaid during the six-month period ending October
31, 1997.
7. Shareholders' Equity:
The authorized capital stock of Stevia Company is
100,000,000 shares of no par value Common Stock and 100,000
shares of $100 par value Preferred Stock. The preferences,
qualifications, limitations, restrictions and special or
relative rights in respect to the Preferred Stock are to be
determined by the Board of Directors at the time of
issuance, subject to limitations set forth in the Amended
Articles of Incorporation. As of April 30, 1997 and October
31, 1997, no shares of Preferred Stock were outstanding.
On November 1, 1989, the Company's Secretary, Lauane C.
Addis, and President, Fred K. Suzuki, agreed to forego their
salaries in exchange for an option to purchase 83,333 shares
of the Company's no par value common stock for each month
they forfeited their salary at an option price of $.025 per
share. Accrual of these options was terminated effective
April 30, 1991. These options may be exercised until one
year after the repayment of the deferred compensation due at
October 31, 1989, the optionee's salary is reinstated, or
the optionee is no longer employed by the Company, whichever
is later. As of October 31, 1997, none of these options have
been exercised and a total of 2,999,988 shares are subject
to the options. These options provide for adjustments to
prevent dilution in the event of capital reorganizations.
Mr. Suzuki was granted an option to convert all or a portion
of his deferred compensation into shares of the Company's no
par value common stock at a conversion rate of $.025 of
deferred compensation per share. Conversion can only occur
in the event the Company has sufficient liquid assets to pay
all employee taxes due upon issuance of the shares. A total
of 1,448,917 shares have been reserved for Mr. Suzuki's
option. No portion of the option has been exercised as of
October 31, 1997. The option provides for adjustments to
prevent dilution in the event of capital reorganizations.
8. Income (Loss) per shae is computed based on the
weighted average number of shares of
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
Common Stock outstanding during the period, after giving
effect to stock splits. The effect of exercise of stock
options has not been presented as exercise would be
anti-dilutive.
9. Agreements, Licenses and Options:
The Company entered into an irrevocable exclusive license
agreement with F.K. Suzuki International, Inc., parent of
the Company, in 1983. For an annual fee of $75,000, payable
beginning in January of 1987, the Company received certain
patent and other rights owned by F.K. Suzuki , Inc.
Effective May 1, 1988, the license agreement was amended to
provide for a royalty payment of 3% of revenues derived from
the licensed technology in lieu of a set fee. No fees were
incurred during the six-month period ending October 31,
1997.
10. Income Taxes:
There is no provision for income taxes in the accompanying
financial statements due to the Company's net operating loss
position. At April 30, 1997, net operating loss
carryforwards are available and expire, if not used, as
follows:
1996 51,092
1997 292,440
1998 224,075
1999 167,356
2000 302,320
2001 423,843
2002 389,355
2003 328,154
2004 189,389
2005 133,704
2006 74,264
2007 73,470
2008 49,568
2009 119,410
2010 55,831
2011 33,519
2012 37,407
$3,064,297
-------- -------
The Company has adopted Statement of Financial Accounting
Standards (SFAS) No. 109, "Accounting for Income Taxes".
Due to the historical and continued net operating losses of
the Company, Statement 109 has no material effect, if any,
on the Company's Financial Statements. The Company has
elected not to retroactively adopt the provisions allowed in
SFAS NO.109; however, all provisions of the document have
been applied since the beginning of fiscal year 1994.
11. Management's Plans:
In view of the fact that the Company has incurred losses of
$37,407, $33,519 and $55,831 for the years ended April 30,
1997, 1996, and 1995, respectively, management of the
Company recognizes the ability of the Company to continue is
contingent upon the Company obtaining financing so it can
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
commence operations or acquire alternative operations.
Before the Company can realize material operating revenues
from its proposed operations, the Company must equip and
commence operations of a processing facility. The cost of
equipping a processing facility is significant, and
therefore the Company's objective has been to obtain such
financing. Although the Company will continue to seek
financing for its proposed operations, the Company will also
pursue alternatives, such as licensing its technology,
selling Stevia Company or its assets, or combining Stevia
Company with another enterprise. Although no agreements
have been entered into for consummating any such
transaction, management of the Company believes such a
transaction may be possible in the future.
12. Unaudited Financial Statements:
The Company's Financial Statements for the fiscal year
ending April 30, 1997 were not audited pursuant to Rule
210.3-11 of Regulation SX promulgated under the Securities
Exchange Act of 1934, which provides that an inactive entity
need not submit audited financial statements with reports
filed pursuant to the Securities Exchange Act of 1934. An
inactive entity is defined as an entity not having gross
receipts from all sources and expenditures for all purposes
in excess of $100,000 each, which has not purchased or sold
any of its own stock, granted options therefore, or levied
any assessments against outstanding stock during the
applicable fiscal year, which has had no material change in
business, including any material acquisitions or
dispositions of assets, and which is not required to publish
audited financial statements by any exchange or governmental
authority having jurisdiction. In the opinion of
management, the Company met the criteria of an inactive
entity for the fiscal year ending April 30, 1997.
<PAGE>
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
SALES/REVENUES
The Company had no sales during the quarter ("2nd Quarter")
or six month period ending October 31, 1997. The Company
did not produce rebaudioside A or other products on a
commercial basis during the 2nd Quarter, and was not
expected to have sales. After commencement of commercial
operations, Management continues to believe that a market
for its Stevia products could be developed.
The Company realized rental income of $6,713 during the 2nd
Quarter and $13,163 during the six-month period ending
October 31, 1997 from leasing its Pueblo, Colorado facility
to an unrelated third party. The lease between the Company
and the tenant grants the tenant two one-year options. The
tenant exercised its rights under the second one-year option
as of September 1, 1997. The lease provides for rent of
$23,264 for the second option period. The Company also
realized $332 of the interest income during the 2nd Quarter
on late rental payments by the tenant of the Pueblo,
Colorado facility.
COSTS AND EXPENSES
The overall operating expenses of the Company decreased by
$98 during the 2nd Quarter as compared to the same quarter
ending in 1996 and decreased by $298 during the six month
period ending October 31, 1997 as compared to the same
period ending in 1996. Most of the current expenses are
overhead and general and administration items required to
maintain the Company. It is not anticipated that the
expenses of the Company will materially change until the
Company receives financing or commences alternative
operations.
NET LOSS
The Company realized a net loss of $8,733 in the 2nd
Quarter as compared to a net loss of $9,922 in the
comparative quarter in 1996. The Company's net loss of
$15,852 during the six month period ending October 31, 1997
was $1,885 less than the net loss during the comparative
period in 1996. The Company's continuing losses are due to
the lack of operating revenues, which will continue until
such time as the Company produces its sweeteners and other
products for sale or can obtain alternative revenues. See
"LIQUIDITY AND CAPITAL RESOURCES" below.
As of April 30, 1997, the Company has incurred net operating
losses aggregating $3,064,297. There is no provision for
income taxes in the Financial Statements due to the
Company's net operating loss position. Furthermore, the Tax
Reform Act of 1986 will not materially alter the Company's
net operating loss carryforward position, and the net
operating loss carryforwards will be available and expire,
if not used, as set forth in Footnote 10 to the Financial
Statements. See "FINANCIAL STATEMENTS."
ASSETS/LIABILITY RATIO
The ratio of current assets to current liabilities (.05 to
1) is not acceptable taking into considely of inventory. It
is unknown how much inventory the Company can sell, if any.
The Company is not producing inventory and there can be no
assurance of long-term revenues, if any. The inventory
consists primarily of Stevia leaves, which have been grown
and harvested by the Company for use in its initial
processing operations or for sale, and seeds which may be
used for growing more leaves. See "LIQUIDITY AND CAPITAL
RESOURCES" below.
LIQUIDITY AND CAPITAL RESOURCES
The Company's net working capital decreased by $7,401 during
the six month period ending October 31, 1997. The Company's
negative net working capital is due to the continuing losses
of the Company. The Company had $864 in cash at October 31,
1997. Management of the Company believes this amount is
insufficient to provide working capital for the ensuing
quarter. The Company does not have, nor does it anticipate
obtaining in the near future, a working line of credit.
The Company's ability to generate cash adequate to meet its
future needs depends upon its ability to obtain financing
for the purpose of beginning revenue producing operations.
In the event the Company is unable to obtain financing,
management will seek out alternatives, such as licensing the
Company's technology, selling the Company or its assets,
leasing the Company's Pueblo facility, or combining the
Company with other businesses.
The Company and an affiliate, Biosynergy, Inc. ("BSI"),
share office space, and as a result, share certain expenses.
Both companies account to each other on an on-going basis
for these shared expenses. The resulting payable as of
April 30, 1997 was $278,874 and $288,492 as of October 31,
1997. The amounts due to BSI reflect on-going transactions
in the ordinary course of business and do not represent any
extraordinary transactions. Shared expenses include salary
for common employees and related benefits, payroll overhead,
utilities, and certain legal expenses. Management of the
Company bel effective to share these expenses with BSIy
continue to do so in the near future. However, there is no
assurance BSI will be in a position or agree to continue to
extend credit to the Company for these shared expenses.
On September 1, 1993, the Company entered into a three-year
lease for its Pueblo, Colorado facility with an unaffiliated
third party. The tenant was granted two one-year options
and a first right of refusal to purchase the Pueblo,
Colorado facility in the event the Company sells or
otherwise disposes of the facility. The lease provides for
base rent of $19,473 for the first two years, $20,466 for
the third year, $22,394 for the first option year and
$23,264 for the second option year. See "SALES/REVENUES"
above. The proceeds from leasing such facility are used to
offset expenses of the facility and to cover a portion of
the general and administrative expenses of the Company.
However, the cash flow from leasing the facility in Pueblo
is not expected to be sufficient to cover all of the
expenses of the Company for the ensuing year, and
furthermore, there can be no assurance the Company will be
able to continue leasing its facility. In this regard, the
lessee of the facility has exercised its option to extend
the lease for the final option year which ends August 31,
1998.
The Company owns 1,900,000 shares of BSI common stock. Such
common stock can be traded in the over-the-counter market
and stock prices are recorded on "pink sheets." The bid
price at October 31, 1997 was estimated to be $.01 per
share. Although the Company is free to currently sell these
shares of Biosynergy, Inc. common stock, it does not have
plans to do so in the near future. See Footnote 4 of the
"FINANCIAL STATEMENTS."
STEVIA COMPANY, INC.
PART II - OTHER INFORMATION
Item 6. EXHIBITS AND REPORTS ON FORM 8-K.
A. The following Exhibits are included herein pursuant to
Section 601:
(3) (a) Articles of Incorporation (i)
(b) By-Laws (ii)
(10) Material Contracts.
(a) Deferred Compensation Option Agreement by and
between Stevia Company, Inc. and Fred K. Suzuki, effective
November 1, 1989. (iii)
(b) Deferred Compensation Option Agreement by and
between Stevia Company, Inc. and Lauane C. Addis, effective
November 1, 1989. (iii)
(c) Amendment to Deferred Compensation Option
Agreement by and between Stevia Company, Inc. and Fred K.
Suzuki, effective April 1, 1991. (iv)
(d) Lease Agreement, dated September 1, 1993,
between the Company and Pacific Aero Manufacturing, Inc.
(v)
(e) Promissory Note dated July 1, 1993
payable to Fred K. Suzuki in the amount of $7,587.75. (v)
(11) Statement regarding computation of per share
earnings -none.
(15) Letter dated December 9, 1997, regarding interim
financial information. (iv)
(18) Letter regarding change in accounting
principals - none.
(19) Reports furnished to security holders - none.
(22) Published report regarding matters submitted to
vote of security holders - none.
(23) Consents of experts and counsel - none.
(24) Power of Attorney - none.
(27) Financial Data Schedule. P. E-1
B. No Current Reports on Form 8K were filed during the
period covered by this Report.
<PAGE>
FOOTNOTES
(i) Incorporated by reference to a Registration Statement
filed on Form S-18 with the Securities and Exchange
Commission, 1933 Act, Registration Number 2-87364C,
under the Securities Act of 1933, as amended, and
incorporated by reference, to the extent of Articles of
Amendment, to Form 10K for Fiscal Year Ending April 30,
1986 filed with the Securities and Exchange
Commission.
(ii) Incorporated by reference to Form 10K for Fiscal
Year Ending April 30, 1987 filed with the
Securities and Exchange Commission.
(iii) Incorporated by reference to Form 10K for Fiscal
Year ending April 30, 1990 filed with the
Securities and Exchange Commission.
(iv) Incorporated by reference to Form 10K for Fiscal
Year ending April 30, 1991 filed with the
Securities and Exchange Commission.
(v) Incorporated by reference to Form 10K for Fiscal Year
ending April 30, 1994 filed with the Securities and
Exchange Commission.
(vi) This Exhibit is included in this report as a part of
the Financial Statements, and is incorporated by
reference herein
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
STEVIA COMPANY, INC.
Date December 10, 1997 /s/ FRED K. SUZUKI /s/
Fred K. Suzuki
President, Chairman of the Board,
Chief Accounting Officer and Treasurer
Date December 10, 1997 /s/ LAUANE C. ADDIS /s/
Lauane C. Addis
Secretary, Corporate Counsel and
Director
__________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10Q
Quarterly Report Pursuant to Section 13 or 15 (d)
of
THE SECURITIES AND EXCHANGE ACT OF 1934
For the period ending October 31, 1997
Commission File Number: 0-11718
STEVIA COMPANY, INC.
_________________________________________________________________
(Exact name of registrant as specified in charter)
1940 East Devon Avenue
Elk Grove Village, IL 60007
(847) 593-0226
(Address and telephone number of registrant's principal
executive office on a principal place of business)
__________________________________
EXHIBITS
________________________________________________________________
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EXHIBIT INDEX
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Page Number
Pursuant to
Sequential
Exhibit Numbering
Number Exhibit System
_______ ___________ __________
27 Financial Data Schedule E-1
<PAGE>
E-1
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM FINANCIAL STATEMENTS OF THE REGISTRANT FOR
THE SIX MONTH PERIOD ENDING OCTOBER 31, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 6 MOS
<FISCAL-YEAR-END> APR-30-1998 APR-30-1998
<PERIOD-END> JUL-31-1997 OCT-31-1998
<CASH> 864 864
<SECURITIES> 0 0
<RECEIVABLES> 0 0
<ALLOWANCES> 0 0
<INVENTORY> 25,323 25,323
<CURRENT-ASSETS> 35,614 26,679
<PP&E> 650,805 650,805
<DEPRECIATION> (106,572) ( 106,572)
<TOTAL-ASSETS> 583,246 583,246
<CURRENT-LIABILITIES> 524,663 524,663
<BONDS> 0 0
<COMMON> 2,088,001 2,088,001
0 0
0 0
<OTHER-SE> (2,032,763) (2,032,763)
<TOTAL-LIABILITY-AND-EQUITY>
55,338 55,338
<SALES> 0 0
<TOTAL-REVENUES> 0 0
E-2
</TABLE>
