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 January 31, 1998
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 16 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
January 31, 1998 and the related statements of operations, shareholders'
equity and cash flow for the three and nine month periods ended
January 31, 1998 and 1997 were not audited; however, the financial
statements for the three and nine month periods ending January
31, 1998 and 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 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.
March 9, 1998
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
BALANCE SHEET
ASSETS
<CAPTION>
January 31, 1998 April 30, 1997
Unaudited Unaudited
<S> <C> <C>
CURRENT ASSETS
Cash 6,395 6,574
Accounts Receivables-other 0 9,668
Inventories 25,323 25,323
Prepaid Expenses 541 5
Total Current Assets 32,259 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 (110,407) (98,902)
540,398 551,903
OTHER ASSETS
Patents, Net of Amortization 11,944 13,115
Investment in Affiliated Company
(Note 4) - -
584,601 606,588
-------------------------------
</TABLE>
<TABLE>
<CAPTION>
LIABILITIES AND SHAREHOLDERS' EQUITY
<S> <C> <C>
CURRENT LIABILITIES
Accounts Payable 33,174 43,849
Notes Payable-Officer
(Notes 4 and 6) 0 7,588
Due to Affiliates
(Note 4) 363,609 349,286
Accrued Executive
Compensation 124,524 124,524
Deferred Rent 313 309
Accrued Expenses 12,945 6,597
Total Current Liabilities 534,565 532,153
---------------- --------------
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 January 31, 1998; Issued 32,195,300
Shares at April 30, 1997 and January 31, 1998
2,088,001 2,088,001
Additional Paid in Capital 100 100
Accumulated Deficit (2,041,310) (2,016,911)
46,791 71,190
584,601 606,588
------------------ ---------------
</TABLE>
The accompanying notes are an integral part of the financial
statements.
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF OPERATIONS
Unaudited
<CAPTION>
Three Months Ended Nine Months Ended
January 31, January 31,
1998 1997 1998 1997
<S> <C> <C> <C> <C>
REVENUES
Sales - - - -
COST OF SALES - - - -
Gross Profit (Loss) - - - -
OPERATING EXPENSES
Marketing - - - 28
Research and Development 390 520 1,171 1,171
General and Administrative
14,825 16,161 43,391 45,127
15,215 16,681 44,562 46,326
Loss From Operations
(15,215) (16,681) (44,562) (46,326)
OTHER INCOME AND (EXPENSE)
Rental Income 6,668 6,768 19,831 18,676
Interest Income - - 332 -
6,668 6,768 20,163 18,676
NET LOSS (8,547) (9,913) (24,399) (27,650)
----------- -------- ----------- -------------
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
NINE MONTHS ENDED JANUARY 31, 1998
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) - - - ( 24,399) (24,399)
BALANCE,
January 31, 1998 32,195,300 2,088,001 100 (2,041,310) 46,791
---------- ----------- ------- ------------- -----------
The accompanying notes are an integral part of the financial
statements
</TABLE>
<PAGE>
<TABLE>
STEVIA COMPANY, INC.
STATEMENT OF CASH FLOW
Unaudited
<CAPTION>
Nine Months Ended January 31,
1998 1997
<S> <C> <C>
OPERATING ACTIVITIES:
Net Loss (24,399) (27,650)
Adjustments to Reconcile Net (Loss) to Net
Cash Used by Operating Activities:
Depreciation and Amortization 12,676 12,675
Changes in Operating Assets and Liabilities:
(Increase) Decrease in Accounts Receivable
9,668 ( 814)
(Increase) Decrease in Inventories
and Prepaid Expenses (536) ( 578)
Increase (Decrease) in Accounts Payable and
Accrued Expenses ( 4,323) 1,914
Increase (Decrease) in Due to Affiliates
(Note 4) 14,323 14,986
Net Cash Provided (Used) by Operating
Activities 7,409 533
INVESTING ACTIVITIES:
Net Cash Provided (Used) by
Investing Activities - -
FINANCING ACTIVITIES:
Proceeds From (Repayments of) Notes
(Note 6) ( 7,588) -
Net Cash Provided (Used) by Financing
Activities ( 7,588) -
Increase (Decrease) in Cash and
Cash Equivalents ( 179) 533
Cash and Cash Equivalents at
Beginning of Period 6,574 1,431
Cash and Cash Equivalents
at End of Period 6,395 1,964
------------- ---------------
The accompanying notes are an integral part of the financial
statements.
</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:
January 31, 1998 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:
January 31, April 30,
1998 1997
F.K. Suzuki International, Inc. $ 70,412 $ 70,412
Biosynergy, Inc. $ 293,197 $278,874
Totals $ 363,609 $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 $293,197 at January 31, 1998 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 January 31, 1998.
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 OwnerCompany 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/Director - - 35.6% -
Lauane C. Addis,
Officer/Director .1% .1% 32.7% -
James F. Schembri, .2% 12.9% - -
Director
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. See 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 on October 20, 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
January 31, 1998, 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 January 31, 1998, 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 January 31, 1998. The
option provides for adjustments to prevent dilution in the event
of capital reorganizations.
8. Income (Loss) per share 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 nine-month period ending January 31, 1998.
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
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.
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
SALES/REVENUES
The Company had no sales during the quarter ("3rd Quarter") or
nine month period ending January
31, 1998. The Company did not produce rebaudioside A or other
products on a commercial basis
during the 3rd 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 $6,668 during the 3rd
Quarter and $19,831 during the nine-
month period ending January 31, 1998 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
which ends August 31, 1998. The
lease provides for rent of $23,264 for the second option period.
The Company also realized $332
of the interest income during the nine month period ending
January 31, 1998 on late rental payments
by the tenant of the Pueblo, Colorado facility.
COSTS AND EXPENSES
The overall operating expenses of the Company decreased by $1,446
during the 3rd Quarter as
compared to the same quarter ending in 1997 and decreased by
$1,764 during the nine month period
ending January 31, 1998 as compared to the same period ending in
1997. 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 $8,547 in the 3rd Quarter as
compared to a net loss of $9,913
in the comparative quarter in 1997. The Company's net loss of
$24,399 during the nine month
period ending January 31, 1998 was $3,251 less than the net loss
during the comparative period in
1997. 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 unused 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 (.06 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 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 $11,723 during the
nine month period ending
January 31, 1998. The Company's negative net working capital is
due to the continuing losses of
the Company. The Company had $6,395 in cash at January 31,
1998. 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 $293,197 as of January 31,
1998. 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 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 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 January
31, 1998 was estimated to be less than .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 March 9, 1998, regarding interim financial
information. (iv)
(18) Letter regarding change in accounting principles - 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.
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 March 9, 1998 /s/ FRED K. SUZUKI /s/
Fred K. Suzuki
President, Chairman of the Board,
Chief Accounting Officer and Treasurer
Date March 9, 1998 /s/ LAUANE C. ADDIS /s/
Lauane C. Addis
Secretary, Corporate Counsel and Director
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 Fred K. Suzuki
President, Chairman of the Board,
Chief Accounting Officer and Treasurer
Date 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 January 31, 1998
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
_________________________________________________________________
_________________________________________________________________
<PAGE>
_________________________________________________________________
_________________________________________________________________
EXHIBIT INDEX
_______________
Page Number
Pursuant to
Sequential
Exhibit Numbering
Number Exhibit System
_______ _______ __________
27 Financial Data Schedule E-1
E-1
<PAGE>
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 NINE MONTH PERIOD
ENDING JANUARY 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
<S> <C>
<PERIOD-TYPE> 3-MOS 9 MOS
<FISCAL-YEAR-END> APR-30-1998 APR-30-1998
<PERIOD-END> JAN-31-1998 JAN-31-1998
<CASH> 6,395 6,395
<SECURITIES> 0 0
<RECEIVABLES> 0 0
<ALLOWANCES> 0 0
<INVENTORY> 25,323 25,323
<CURRENT-ASSETS> 32,259 32,259
<PP&E> 650,805 650,805
<DEPRECIATION> (110,407) ( 110,407)
<TOTAL-ASSETS> 584,601 584,601
<CURRENT-LIABILITIES> 534,565 534,565
<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> 46,791 46,791
<SALES> 0 0
<TOTAL-REVENUES> 0 0
<CGS> 0 0
<TOTAL-COSTS> 0 0
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 0 0
<INCOME-PRETAX> (8,547) (24,399)
<INCOME-TAX> 0 0
<INCOME-CONTINUING> 0 0
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (8,547) (24,399)
<EPS-PRIMARY> (0.001) ( 0.001)
<EPS-DILUTED> (0.001) ( 0.001)
E-2
</TABLE>
