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 July 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 or
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
or 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 22 pages contained in the sequential numbering system.
<PAGE>
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
July 31, 1997 and the related statements of operations,
shareholders' equity and cash flow for the three month periods
ended July 31, 1997 and 1996 were not audited; however, the
financial statements for the three months periods ending July 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.
September 16, 1997
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
BALANCE SHEET
ASSETS
<CAPTION>
July 31, 1997 April 30, 1997
Unaudited Unaudited
_____________ _____________
<S> <C> <C>
CURRENT ASSETS
Cash 821 6,574
Accounts Receivables-other 9,048 9,668
Inventories 25,323 25,323
Prepaid Expenses 422 5
_____________ ______________
Total Current Assets 35,614 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 (102,737) (98,902)
_____________ ______________
548,068 551,903
_____________ ______________
OTHER ASSETS
Patents, Net of Amortization 12,725 13,115
Investment in Affiliated Company
(Note 5) - -
____________ ______________
596,407 606,588
____________ ______________
------------ --------------
</TABLE>
<TABLE>
LIABILITIES AND SHAREHOLDERS' EQUITY
<S> <C> <C>
CURRENT LIABILITIES
Accounts Payable 33,139 43,849
Notes Payable-Officer
(Notes 4 and 6) 2,588 7,588
Due to Affiliates (Note 4) 358,991 349,286
Accrued Executive Compensation 124,524 124,524
Deferred Rent 310 309
Accrued Expenses 9,539 6,597
___________ ______________
Total Current Liabilities 529,091 532,153
___________ ______________
----------- --------------
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 July 31, 1997; Issued 32,195,300
Shares at April 30, 1997 and July 31, 1997 2,088,001 2,088,001
Additional Paid in Capital 100 100
Accumulated Deficit (2,024,030) (2,016,911)
____________ ______________
64,071 71,190
_____________ _____________
596,407 606,588
____________ ______________
------------ --------------
<FN>
The accompanying notes are an integral part of the financial statements.
<PAGE>
</TABLE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF OPERATIONS
Unaudited
<CAPTION>
Three Months Ended July 31,
___________________________
1997 1996
____________ ______________
<S> <C> <C>
REVENUES
Sales - -
COST OF SALES - -
____________ ______________
Gross Profit (Loss) - -
OPERATING EXPENSES
Marketing - 28
Research and Development 390 390
General and Administrative 13,178 13,350
____________ _____________
13,568 13,768
____________ _____________
Loss From Operations (13,568) (13,768)
____________ ______________
OTHER INCOME AND (EXPENSE)
Rental Income 6,449 5,954
_____________ ______________
6,449 5,954
NET LOSS (7,119) ( 7,814)
_____________ ______________
------------- --------------
NET LOSS PER COMMON SHARE
(Note 8) (.001) (.001)
_____________ ______________
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 32,195,300 32,195,300
_____________ ______________
------------- --------------
<FN>
The accompanying notes are an integral part of the financial statements.
</TABLE>
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF SHAREHOLDERS' EQUITY
THREE MONTHS ENDED JULY 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) - - - ( 7,119) (7,119)
___________ ___________ _________ ____________ ______
BALANCE,
July 31, 1997 32,195,300 2,088,001 100 (2,024,030) 64,071
___________ __________ _________ ___________ ________
----------- ---------- ---------- ------------ --------
<FN>
The accompanying notes are an integral part of the financial statements
</TABLE>
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF CASH FLOW
Unaudited
<CAPTION>
Three Months Ended July 31,
_________________________
1997 1996
_________________________
<S> <C> <C>
OPERATING ACTIVITIES:
Net Loss ( 7,119) ( 7,814)
Adjustments to Reconcile Net (Loss) to Net
Cash Used by Operating Activities:
Depreciation and Amortization 4,225 4,225
Changes in Operating Assets and Liabilities:
(Increase) Decrease in Receivables 620 -
(Increase) Decrease in Inventories
repaid Expenses ( 417) ( 449)
Increase (Decrease) in Accounts Payable and
Accrued Expenses ( 7,767) 3,850
Increase (Decrease) in Due to Affiliates
(Note 4) 9,705 4,707
_____________ ___________
Net Cash Provided (Used) by Operating
Activities ( 753) 4,519
_____________ ___________
INVESTING ACTIVITIES:
(Increased) Decrease in Furniture
and Equipment - ( 15)
------------- -----------
Net Cash Provided (Used) by
Investing Activities - ( 15)
------------- -----------
FINANCING ACTIVITIES:
Proceeds From (Repayments of) Notes (Note 6) ( 5,000) -
_____________ ___________
Net Cash Provided (Used) by Financing
Activities ( 5,000) -
_____________ ___________
Increase (Decrease) in Cash and
Cash Equivalents ( 5,753) 4,504
Cash and Cash Equivalents at
Beginning of Period 6,574 1,431
Cash and Cash Equivalents at End of Period 821 5,935
-------------- -----------
<FN>
The accompanying notes are an integral part of the financial statements.
</TABLE>
<PAGE>
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:
July 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) acquired 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.
4. Related Party Transactions:
The Company was indebted to affiliated companies as follows:
July 31, April 30,
1997 1997
_________ _________
F.K. Suzuki International, Inc. $ 70,412 $ 70,412
Biosynergy, Inc. $ 288,579 $ 278,874
_________ _________
Totals $ 358,991 $ 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
a net payable of $288,579 at July 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 July 31, 1997.
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
4. (Continued)
<TABLE>
<CAPTION>
S T O C K O F A F F I L I A T E S
___________________________________________________
F.K. Suzuki
Stevia Biosynergy International Medlab
Stock Owner Company Inc. Inc. Inc.
___________ ________ __________ _____________ ______
<S> <C> <C> <C> <C>
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,
advance including legal fees, of settling a lawsuit. 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. The principal balance due at July 31, 1997 is
$2,588.
7. Shareholders' Equity:
The authorized capital stock of Stevia Company is one
hundred million (100,000,000) shares of no par value Common
Stock and one hundred thousand (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 their issuance, subject to
limitations set forth in the amended articles of
incorporation. As of April 30, 1997 and July 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
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
7. (Continued)
April 30, 1991. These options may be exercised until one
year after the respe 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 July 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
July 31, 1997. The option provides for adjustments to
prevent dilution in the event of capital reorganizations.
8. Income (Loss) per share:
Net income (loss) per share is computed based on the
weighted average number of shares of 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 International,
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.
There was no fee incurred during the three month period
ending July 31, 1997.
<PAGE>
STEVIA COMPANY, INC.
NOTES TO FINANCIAL STATEMENTS
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 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 main
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
14
<PAGE>
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.
15
<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 ending July 31, 1997 ("1st
Quarter"). The Company did not produce rebaudioside A or other products on
a commercial basis during the 1st 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.
During the quarter ending July 31, 1997, the Company realized rental
income of $6,449 from leasing its Pueblo, Colorado facility as a result of
a tenant first right of refusal upon the sale of other disposition of the
Pueblo facility and provides for two one-year options. The first one-year
option term expires August 31, 1997. The lease provides for rent of
$22,394 for the first option year and $23,264 for the second option year.
COSTS AND EXPENSES
__________________
The overall operating expenses of the Company decreased by $200 during
the 1st Quarter as compared to the same quarter 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 $7,119 in the 1st Quarter as
compared to a net loss of $7,814 in the comparative quarter 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 for the 1st Quarter. See
"FINANCIAL STATEMENTS."
ASSETS/LIABILITY RATIO
______________________
The ratio of current assets to current liabilities (.07 to 1) is not
acceptable taking into consideration the Company's cash flow position. The
Company's current assets consist primarily 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 can be used for growing more leaves. See
"LIQUIDITY AND CAPITAL RESOURCES" below.
16
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES
The Company's net working capital decreased by $2,894 during the 1st
Quarter. The Company's negative net working capital is due to the
continuing losses of the Company. The Company had $821 in cash and $9,048
in receivables at July 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 $288,579 as of July 31, 1997.
The amounts due to BSI reflect on-going transactions in the ordinary course
of business and do not represent any extraordinary transactions. Expense
salary for common employees and related benefits, payroll overhead,
utilities, and certain legal expenses. Management of the Company
more economical to share these expenses with BSI, and will likely 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 lesee of the facility has exercised its option to extend
the lease for the final option year. However, the lessee is in default in
the payment of rent and other charges under the lease, and there can be no
assurance such defaults will be cured and the lease continued.
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 July 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."
17
<PAGE>
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) Lease Agreement, dated September 1, 1993, between the
Company and Pacific Aero Manufacturing, Inc. (iii)
(b) Promissory Note dated July 1, 1993 payable to Fred K. Suzuki
in the amount of $7,587.75. (iii)
(11) Statement regarding computation of per share earnings - none.
(15) Letter dated September 16, 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.
_________________________
[FN]
(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, 1994 filed with the Securities and Exchange
Commission.
18
<PAGE>
(iv) This Exhibit is included in this report as a part of
the Financial Statements, and is incorporated by
reference herein.
19
<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 September 18,1997 /s/ FRED K. SUZUKI /s/
---------------------------------
Fred K. Suzuki
President, Chairman of the Board,
Chief Accounting Officer and
Treasurer
Date September 18,1997 /s/ LAUANE C. ADDIS /s/
--------------------------------
Lauane C. Addis
Secretary, Corporate Counsel and
Director
<PAGE>
___________________________________________________________________________
20
<PAGE>
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 July 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) 956-0471
(Address and telephone number of registrant's principal
executive office on a principal place of business)
__________________________________
<PAGE>
EXHIBITS
___________________________________________________________________________
___________________________________________________________________________
<PAGE>
EXHIBIT INDEX
_____________
Page Number
Pursuant to
Sequential
Exhibit Numbering
Number Exhibit System
___________ _______ __________
27 Financial Data Schedule E-1
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
FINANCIAL STATEMENTS OF THE REGISTRANT FOR THE THREE MONTH PERIOD ENDING
JULY 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> JUL-31-1997
<CASH> 821
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 25,323
<CURRENT-ASSETS> 35,614
<PP&E> 650,805
<DEPRECIATION> (102,737)
<TOTAL-ASSETS> 596,407
<CURRENT-LIABILITIES> 529,091
<BONDS> 0
<COMMON> 2,088,001
0
0
<OTHER-SE> (2,024,030)
<TOTAL-LIABILITY-AND-EQUITY> 596,407
<SALES> 0
<TOTAL-REVENUES> 0
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> (7,119)
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (7,119)
<EPS-PRIMARY> (0.001)
<EPS-DILUTED> (0.001)
</TABLE>
