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, 1999

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 January 31,
1999 and the related statements of operations, shareholders' equity and cash
flow for the three and nine month periods ended January 31, 1999 and 1998 were
not audited; however, the financial statements for the three and nine month
periods ending January 31, 1999 and 1998 reflect all adjustments (consisting onl
y 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, 1998 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, 1998 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 5, 1999

<PAGE>
<TABLE>
<CAPTION>
                             STEVIA COMPANY, INC.
                                BALANCE SHEET

ASSETS
                                       January 31, 1999       April 30, 1998
                                         Unaudited               Unaudited  
                                       --------------------------------------
<C>                                    <S>                    <S>
               
CURRENT ASSETS
   Cash                                       12,383                  1,873
   Accounts Receivables-other                    367                    184
   Inventories                                 6,962                  6,962
   Prepaid Expenses                            2,078                      5
        Total Current Assets                  21,790                  9,024  

PROPERTY AND EQUIPMENT (Notes 1 and 3)
  Land                                         1,127                  1,127
  Furniture and Equipment                     41,236                 44,750
  Building                                   483,200                483,200
  Idle Equipment                             121,728                121,728 
                                             647,291                650,805
  Less:  Accumulated Depreciation           (122,233)              (114,242)
                                             525,058                536,563  
OTHER ASSETS
  Patents, Net of Amortization                10,383                 11,554
  Investment in Affiliated Company
    (Note 4)                                   -                     -      
                                             557,231                557,141 
                                         ------------        --------------
</TABLE>
<TABLE>
<CAPTION>

LIABILITIES AND SHAREHOLDERS' EQUITY

<C>                                     <S>                  <S>  
CURRENT LIABILITIES
  Accounts Payable                           43,778                 34,292
 Short Term Note Payable to Affiliates
   (Note 4)                                   2,200                  -   
  Due to Affiliates (Note 4)                376,861                368,747
  Accrued Executive Compensation            124,524                124,524 
  Deferred Rent                                 319                    315
  Accrued Expenses                           12,636                  3,983  
          Total Current Liabilities         560,318                531,861  
                                          ------------          --------------
NON-CURRENT LIABILITIES
  Tenant Security Deposit                     3,245                  3,245   

COMMITMENTS AND CONTINGENCIES
  (Notes 5 and 8)                               -                    -      

SHAREHOLDERS' EQUITY (Notes 4 and 6)
  Common Stock, No Par Value, 100,000,000
   Shares Authorized as of April 30, 1998
   and October 31, 1998; Issued 32,195,300
   Shares at April 30, 1998 and
   October 31, 1998                        2,088,001            2,088,001
  Additional Paid in Capital                     100                  100
  Accumulated Deficit                    (2,094, 433)          (2,066,066)  
                                             ( 6,332)              22,035   
                                             557,231              557,141  
                                       -------------         -------------- 
<FN>
The accompanying notes are an integral part of the financial statements.
<PAGE>
</TABLE>
<TABLE>
<CAPTION>
                             STEVIA COMPANY, INC.

                            STATEMENT OF OPERATIONS

                                  Unaudited
  
                    Three Months Ended                Nine Months Ended
                        January 31,                       January 31,       
                   1999             1998            1999               1998 
                   -------------------------       ------------------------- 
<C>                <S>             <S>             <S>          <S>
REVENUES
 Sales                   -             -              -                -

COST OF SALES            -             -              -                 -     
Gross Profit (Loss)      -             -              -                 -

OPERATING EXPENSES
  Marketing              -             -              -                 -
  Research and
    Development        390           390             1,170             1,171
  General and
   Administrative       64             -               172              -   
  Interest Expense  19,850        15,215            49,741            44,562
    
Loss From
    Operations     (19,850)      (15,215)          (49,741)          (44,562)

OTHER INCOME AND (EXPENSE)
  Rental Income      7,486         6,668            21,374            19,831 
  Interest Income      -              -             -                    332 
                     7,486         6,668            21,374            20,163
    
NET LOSS           (12,364)       (8,547)          (28,367)          (24,399)
                -----------      ---------        ---------         ---------
    
NET LOSS PER COMMON SHARE
    (Note 8)        (.0004)       (.001)            (.0009)           (.001)
     
                   
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING 32,195,300   32,195,300       32,195,300       32,195,300
                  ------------  ------------    ------------     -----------







<FN>
The accompanying notes are an integral part of the financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                         STEVIA COMPANY, INC.

                  STATEMENT OF SHAREHOLDERS' EQUITY

                  NINE MONTHS ENDED JANUARY 31, 1999

                              Unaudited

                                                                               
                                                                   Total
                                         Additional                Share-
                  Common Stock            Paid-in                  holders'
                  Shares        Amount    Capital      (Deficit)   Equity
                  -----------------------------------------------------------
<C>              <S>             <S>       <S>         <S>        <S>
BALANCE
  May 1, 1998       32,195,300   2,088,001     100     (2,066,066)    22,035
  

NET INCOME (LOSS)     -            -            -        ( 28,367)   (28,367)

BALANCE,
  January 31, 1999  32,195,300    2,088,001     100      (2,094,433) ( 6,332)
                   ------------  ----------   ---------  -----------  -------- 






















<FN>
The accompanying notes are an integral part of the financial statements
</TABLE>
<PAGE>
<TABLE>
<CAPTION>





                            STEVIA COMPANY, INC.

                          STATEMENT OF CASH FLOW

                                 Unaudited

                                           Nine Months Ended January 31,    
                                            1999                  1998   
                                          -----------------------------------
<C>                                       <S>                <S>
OPERATING ACTIVITIES:
  Net Loss                                (28,367)                (24,399)
  Adjustments to Reconcile Net (Loss)
   to Net Cash Used by Operating
   Activities:
  Depreciation and Amortization            12,676                  12,676
  Changes in Operating Assets and
    Liabilities:
    (Increase) Decrease in Accounts
      Receivable                            ( 183)                 9,668
    (Increase) Decrease in Inventories
     and Prepaid Expenses                  (2,073)               (   536)   
  Increase (Decrease) in Accounts Payable
     and Accrued Expenses                  18,143                ( 4,323)
  Increase (Decrease) in Due to Affiliates
    (Note 4)                                8,114                 14,323
   Net Cash Provided (Used) by Operating
   Activities                               8,310                  7,409 

INVESTING ACTIVITIES:
    Net Cash Provided (Used) by
    Investing Activities                      -                      -      

FINANCING ACTIVITIES:
  Proceeds From (Repayments of) Notes
       (Note 4)                            2,200                 (7,588)
   Net Cash Provided (Used) by Financing
    Activities                             2,200                 (7,588) 
Increase (Decrease) in Cash and
  Cash Equivalents                        10,510                  ( 179)
Cash and Cash Equivalents at
  Beginning of Period                      1,873                  6,574   
Cash and Cash Equivalents at End of
   Period                                 12,353                  6,395    
                                       -------------          ------------
<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 lot production cost) or market.  Seed inventory
is valued based upon the year of original harvest and their expected yield of
seedlings capability.  The Company wrote-down and disposed of its seed
inventory at April 30, 1998, since it was substantially non-viable.

Components of inventories are as follows:

                                January 31, 1999             April 30, 1998
                    Leaves       $   6,962                  $ 6,962  
                                 $   6,962                  $ 6,962  
                                 -------------                ----------

Research and Development, and Patents - Research and development expenditures,
including depreciation of laboratory equipment, are charged to operations as
capitalized and amortized over seventeen years or life of the patent on the
straight-line method.

Buildings, Property and Equipment - Buildings, 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.

Deferred Computer Software Charges - Charges for externally purchased computer
software are shown as deferred charges and are amortized over a 60 month
period from the date put into use.

Statements of Cash Flow - In accordance with Statement of Financial Accounting
Standards No. 95, issued in November, 1987, Statements of Cash Flows are
presented in place of Statement of Changes in Financial Position.

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 for the primary purpose of developing and
manufacturing natural products, including sweetners, derived from the Stevia
rebaudina plant.  However, the Company has been dormant for several years.

<PAGE>


On November 17, 1998, the Company filed a complaint for judicial dissolution
with the State of Illinois Circuit Court for the County of Cook, County
Department, Chancery Division.  On December 7, 1998, the court approved the
Motion of the Company to appoint Lauane C. Addis, Secretary and General
Counsel, as a Receiver Pendant Lite.  The Court also approved the sale of the
Company's Pueblo, Colorado Facility pursuant to the terms of a contract dated
June 1, 1998 between the Company and the current lessee of the facility.  See
Footnote 3. 

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.  The lease has been extended pending sale
of the Pueblo, Colorado facility.

The Company has entered into a contract dated June 1, 1998, for the sale of
the Pueblo, Colorado facility to the current lessee for a sales price of
$475,000.  All contingencies under the contract have been satisfied.  The
closing date in the Contract has been extended to March 15, 1999.  It is
anticipated that this transaction will close, if at all, before March 15,
1999, which is dependent upon the purchaser completing its financing, among
other factors.

4.     Related Party Transactions:

The Company was indebted to affiliated companies as follows:

<TABLE>
<CAPTION>
                                     January 31, 1999       April 30, 1998 
<C>                                 <S>                    <S>
               
F.K. Suzuki International, Inc.       $   64,045               $  70,412
Biosynergy, Inc.                      $  312,816               $ 298,335
               Totals                 $  376,861               $ 368,747
                                     -----------               ------------
</TABLE>

As of January 31, 1999 and April 30, 1998, the Company was indebted to F.K.
Suzuki International, Inc. for the net amounts due as a result of an
irrevocable exclusive license agreement with F.K. International, Inc.
described in Note 8.

<PAGE>
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 has not been able to reimburse Biosynergy, Inc. on a
regular basis which has resulted in a net payables at January 31, 1999 and
April 30, 1998.

August 31, 1998, Biosynergy, Inc. extended a line of credit of $20,000 to the
Company evidenced by a Note payable or before December 31, 1998 with 10%
interest on the unpaid principal balance.  Proceeds of this line of credit are
intended to be used by the Company for expenses related to its liquidation and
dissolution.  See Footnote 2.  The Note is secured by a first mortgage on the
Company's Pueblo, Colorado facility.  See Footnote 3.  The balance due under
the Note at January 31, 1999 was $2,200.

The Company and its affiliates are related through Common Stock ownership as
follows on January 31, 1999.        

<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/Director      -               -            35.6%            -
Lauane C. Addis,
 Officer/Director      .1%            .1%           32.7%            -
James F. Schembri,     .2%          12.9%            -               -
 Director

</TABLE>

On July 7, 1983, the Company exchanged 1,058,181 shares of its Common Stock
for 2,000,000 shares of Biosynergy, Inc.'s (an affiliate) 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 currently
owns 1,900,000 shares of Biosynergy, Inc. Common Stock.  Although Biosynergy,
Inc.'s Common Stock can be traded in the over-the counter market, there is no
established public trading market for the shares due in limited and sporadic
trades.

5.      Lease Commitments:

The Company shares offices in Elk Grove Village, Illinois with Biosynergy,
Inc.  The master lease for these offices expires  January 31, 2001, and is in
the name of Biosynergy, Inc.  The total annual base rent for these premises
is $60,500.00 for year 1, $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.      Common Stock:

Common Stock has been issued as compensation for services rendered by certain
individuals.  These transactions were recorded at prices estimated to
approximate the fair market value of the stock taking into account
restrictions which attached to certain shares at the time of issuance.

The authorized capital stock of the 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
Company's Articles of Incorporation, as amended.  As of January 31, 1999, 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 respective optionee receives
all 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.  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.  The option provides for
adjustments to prevent dilution in the event of capital reorganizations.

7.      Loss per share:

Net Loss per common shares is computed based on the weighted average number of
shares outstanding during the period.

<PAGE>

8.  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, payment of which began 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.   No fees were accrued for the quarter or nine-month period
ended January 31, 1999.

9.  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,
1998, net operating loss carry forwards are available and expire, if not used,
as follows:
                              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
                              2013               49,155
                                             $3,062,360
                                            -----------

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.  

10.  Management's Plans:

In view of the fact that the Company has incurred losses of  $49,155, $37,407,
and $33,519 for the years ended April 30, 1998, 1997, and 1996, respectively,
and the Company has been unable to obtain financing to commence its proposed
operations, management of the Company believes it is in the best interest of
the Company, its creditors and shareholders to liquidate its assets, pay off
its liabilities and dissolve the Company.  In this regard, the Company has
entered into an agreement to sell its Pueblo, Colorado facility for $475,000
to the current lessee of the facility.  See footnote 3.  Furthermore, the
Company has filed a complaint for judicial dissolution.  See footnote 2.

11.  Unaudited Financial Statements:

The Company's Financial Statements for the fiscal year ending April 30, 1998,
1997 and 1996 have not been audited pursuant to Rule 210.3-11 of Regulation SX
promulgated under the Securities Exchange Act of 1934, which provides that an
inactive entity is defined as an entity not having gross receipts from all
sources and expenditures for all purposes in excess of, 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 fin $100,000 each, which has not purchased or
sold any of its own stock 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, 1998.

12.      Forward-Looking Statements.

This report may contain statements which, to the extent they are not
recitations of historical fact, constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 (the
"Reform Act").  Such forward-looking statements involve risks and
uncertainties.  Actual results may differ materially from such forward-looking
statements for reasons including, but not limited to, changes to and
developments in the legislative and regulatory environments effecting the
Company, the impact of competitive products  and services, changes in the real
estate market, changes in the food additive industry caused by various
factors, as well as other factors as set forth in this report.  Thus, such
forward-looking statements should not be relied upon to indicate the actual
results which might be obtained by the Company.  No representation or warranty
of any kind is given with respect to the accuracy of such forward-looking
information.  The forward-looking information has been prepared by the
management of the Company and has not been reviewed or compiled by independent
public accountants.

<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  ("3rd Quarter") or nine month
period ending January 31, 1999.  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.  

The Company realized rental income of $7,486 during the 3rd Quarter and
$21,374 during the nine-month period ending January 31, 1999 from leasing its
Pueblo, Colorado facility to an unrelated third party.   The Company has
entered into an agreement to sell the Pueblo, Colorado facility to the current
lessee, and therefore does not expect any rental revenues after the closing of
such transaction.  In the event the sale of the Pueblo, Colorado facility does
not close, the lease will be extended for two years ending August 31, 2000. 
It is anticipated such transaction will close no later than March 15, 1999. 
See "Liquidity and Capital Resources".

COSTS AND EXPENSES
------------------

The overall operating expenses of the Company increased by $4,635 during the
3rd  Quarter as compared to the same quarter ending in 1998 and increased by
$5,179 during the nine month period ending January 31, 1999 as compared to the
same period ending in 1998.  Most of the current expenses are overhead and
general and administration items required to maintain the Company and expenses
related to dissolution of the Company, including legal fees.  It is not
anticipated that the operating 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 $12,364 in the 3rd  Quarter as compared to
a net loss of $8,547 in the comparative quarter in 1998.  The Company's net
loss of $28,367 during the nine month period ending January 31, 1999 was
$3,968 more than the net loss during the comparative period in 1998.  The
Company's continuing losses are due to the lack of operating revenues, which
will continue until such time as the Company dissolves or commences
operations.  See "LIQUIDITY AND CAPITAL RESOURCES" below.

As of April 30, 1998, the Company has incurred net operating losses
aggregating $3,062,360.  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
carry forwards will be available and expire, if not used, as set forth in
Footnote 9 to the Financial Statements.  See "FINANCIAL STATEMENTS." 

ASSETS
------

The assets of the Company have not materially changed.  The Company disposed
of $3,514 of outdated computer hardware and software during the 3rd Quarter. 
Management of the Company intends to sell the Pueblo, Colorado facility to
satisfy the liabilities of the Company.  See also "LIQUIDITY AND CAPITAL
RESOURCES" below.

<PAGE>

LIABILITY
----------

With the exception of an increase in the amount of due to affiliated companies
and short term notes due to an affiliate, there has been substantially no
material change in the liabilities of the Company during the 3rd Quarter.

The amounts due to affiliates at January 31, 1999 include $64,045 payable to
F.K. Suzuki International, Inc. ("FKSI") and $312,816 payable to Biosynergy,
Inc. ("Biosynergy").  The amount due to FKSI represents amounts payable under
an irrevocable exclusive licensing agreement with FKSI for the license of
certain technology, including the rebaudioside A patent and Stevia leaf
technology.  The Company was originally obligated to pay $75,000 per year to
FKSI in exchange for its license.  Effective May 1, 1988, this agreement was
amended to provide that the Company will pay royalties in the amount of 3% of
revenues derived from the licensed technology in lieu of the fee of $75,000
per calendar year.  See "Footnote 8 to the Financial Statements."  

The Company and Biosynergy 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 January 31, 1999 was $312,816,
as compared to a payable of $298,335 at April 30, 1998.  The amounts due to
Biosynergy reflect on-going transactions in the ordinary course of business
and do not represent any extraordinary transactions.  Management of the
Company believes it has been more economical to share these expenses with
Biosynergy.

On August 31, 1998, Biosynergy extended a $20,000 line of credit to the
Company to fund the expenses of dissolving the Company.  The line of credit is
evidenced by a Note bearing interest at 10% on the unpaid balance.  The Note
is secured by a first mortgage or the Company's Pueblo, Colorado facility. 
The balance of the Note at January 31, 1999 was $2,200.

ASSETS/LIABILITY RATIO
----------------------

The ratio of current assets to current liabilities (.0389 to 1) is not
acceptable taking into consideration the Company's cash flow position.  The
Company is not engaged in commercial operations and therefore has no operating
revenue.  The Company intends to liquidate its assets to pay creditors.  See
"LIQUIDITY AND CAPITAL RESOURCES" below.

LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

The Company's net working capital decreased by $15,691 during the nine month
period ending January 31, 1999.  The Company's negative net working capital is
due to the continuing losses of the Company.  The Company had $12,383 in cash
at January 31, 1999.  Management of the Company believes this amount is
insufficient to provide working capital.  The Company does not have, nor does
it anticipate obtaining in the near future, a working line of credit.  The
Company has a line of credit extended by Biosynergy for the purposes of
funding the Company's dissolution expenses.  See "LIABILITIES" above.

The Company has been leasing its Pueblo, Colorado facility to an  unaffiliated
third party for over five years.  The lease provided 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.  The lease has been
extended pending the sale of the Pueblo, Colorado facility, and will continue
until August 31, 2000 if the sale of the Pueblo, Colorado facility is not
closed.  The proceeds from leasing such facility have been used primarily to
offset expenses of the Company.  However, the cash flow from leasing the
facility in Pueblo does not cover all of the expenses of the Company, and
furthermore, there is no assurance the Company will be able to continue
leasing its facility or lease the facility at a profit.

The Company owns 1,900,000 shares of Biosynergy 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, 1999 was estimated to
be $.01 per share.  Although the Company is free to currently sell these
shares of Biosynergy common stock, it does not have plans to do so in the near
future.  See Footnote 4 of the "FINANCIAL STATEMENTS." 

The Company's continuing inability to obtain financing or alternative
operations has made it practically impossible to continue with the Company's
proposed business plan for the benefit of its shareholders.  The Company
therefore intends to liquidate its assets, satisfy its creditors, if possible,
and dissolve the Company.  The Company has filed a Complaint for Judicial
Dissolution to accomplish this goal.  See Footnote 2 of the "FINANCIAL
STATEMENTS."  The Court has appointed Lauane C. Addis, Secretary and General
Counsel of the Company, as a Receiver Pendant Lite and approved the Company's
Motion to sell the Company's processing facility pursuant to the June 1, 1998
contract with the current lessee of the facility.  It is anticipated the
closing of the transaction will occur before March 15, 1999.  See Footnote 3
of the "FINANCIAL STATEMENTS."

<PAGE>

                        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)  Lease Agreement, dated September 1, 1993, between the Company
and Pacific Aero Manufacturing, Inc.  (iii)

         (b) Commercial Contract to Buy and Sell Real Estate dated June
1, 1998, between the Company and Pacific Aero Manufacturing, Inc.(iv)

         (c) Letter dated August 17, 1998, amending the Commercial Contract to
Buy and Sell Real Estate dated June 1, 1998.  (v)

         (d) Court Order approving Lauane C. Addis as Receiver Pendadnt Lite
and authorizing sale of the Company's Pueblo, Colorado facility . (vi)

         (e)      Letter dated January 7, 1999 amending contract listed in
10(a) above.  P. E-1

         (f)      Letter dated February 8, 1999 amending contract listed in
10(a) above.  P. E-2

      (11) Statement regarding computation of per share earnings -none.

      (15) Letter dated March 9, 1999, regarding interim financial
information. (vii)

      (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-3

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.

  (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 8K for the period ending December 8,
1998 filed with Securities and Exchange Commission.

     (vi) Incorporated by reference to Form 8K for the period ending December
8, 1998 filed with Securities and Exchange Commission.

     (vii) This Exhibit is included in this report as a part of the Financial
Statements, and is incorporated by reference herein.
<PAGE>

                       STEVIA COMPANY, INC.

                           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, 1999             /s/ FRED K. SUZUKI /s/                 
                               -----------------------------------------
                               Fred K. Suzuki
                               President, Chairman of the Board,  
                               Chief Accounting Officer and  Treasurer


Date March 9, 1999             /s/ LAUANE C. ADDIS /s/                
                               -----------------------------------------
                               Lauane C. Addis
                               Secretary, Corporate Counsel and
                               Director
<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, 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) 956-0471
 ----------------------------------------------------------------------------
 (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  
     _______                 _______                ___________ 

      10 (e)     Letter dated January 7, 1999           P. E-1
                 amending contract listed in 10(a)
                 above.  

      10 (f)     Letter dated February 8, 1999          P. E-2
                 amending contract listed in 10(a)
                 above.  


      27          Financial Data Schedule               P. E-3


<PAGE>