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                                  FORM 10-KSB/A
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                     Annual Report Under Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

For Year Ended March 31, 2004

Commission File Number: 00-18235

                         Eldorado Artesian Springs, Inc.
        (Exact name of registrant as specified in its charter as amended)

                      Colorado                               84-0907853
(State or other jurisdiction of incorporation)    (IRS Employer Identification No.)
                                                           Or organization)

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 1783 Dogwood Street Louisville, Colorado                       80027
 (Address of principal executive offices)                     (Zip Code)

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                                 (303) 499-1316
              (Registrant's telephone number, including area code)

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Securities registered under Sction 12(b) of the Exchange Act: none

Securities  registered under Sction 12(g) of the Exchange Act: Common Stock, par
value $.001 per share

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 requirement for the past 90 days. Yes [X] No[ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-B is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated  by reference  in Part III of this Form 10-KSB or any  amendment to
this Form 10-KSB. [X]

State issuer's revenues for its most recent fiscal year. $7,669,426

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates of the registrant. The aggregate market value will be computed
by  reference to the price at which the common  equity was sold,  or the average
bid and asked prices of such common  equity,  as of a specified  date within the
past 60 days.  (See  definition  of affiliate in Rule 12b-2 of the Exchange Act)
$4,493,243.

The number of shares  outstanding of the Issuer's Common Stock, $.001 par value,
was 2,995,495 on June 29, 2004.

**Explanatory Note**

     This  amendment to Annual  Report on Form 10-KSB/A is being filed solely to
amend Item 8 of the Annual Report on Form 10-KSB of Eldorado  Artesian  Springs,
Inc. for the year ending March 31, 2004. The full text of Item 8, as amended, is
set forth below.

**Item 3: CONTROLS AND PROCEDURES**

(a)  Evaluation  of  Disclosure  Controls and  Procedures.  As of the end of the
period covered by this report, the Company carried out an evaluation,  under the
supervision  and with the  participation  of  management,  including  the  Chief
Executive  Officer and Chief  Financial  Officer,  of the  effectiveness  of the
design and operation of the Company's  disclosure  controls and  procedures  (as
defined in Rule 13a-15(e))  under the Securities  Exchange Act of 1934. Based on
such  evaluation,  the  Chief  Executive  Officer  and Chief  Financial  Officer
concluded that, as of the end of such period, the Company's  disclosure controls
and  procedures  are  effective and are  reasonably  designed to ensure that all
material  information relating to the Company and required to be included in its
reports  filed or  submitted  under the  Exchange  Act is  recorded,  processed,
summarized and reported within the time periods specified in the rules and forms
of the  Securities  and  Exchange  Commission,  and to ensure  that  information
required  to be  disclosed  in reports the  Company  files or submits  under the
Exchange  Act is  accumulated  and  communicated  to the  Company's  management,
including its principal executive and principal  finnacial officers,  or persons
performing similar functions, as appropriate to allow timely decisions regarding
required  disclosure.  There have been no  significant  changes in the Company's
controls subsequent to the evaluation date.

(b)  Changes in  Internal  Controls.  There  were no  changes  in the  Company's
internal  control over financial  reporting during the year ended March 31, 2004
that materially  affected,  or were reasonably  likely to materially  affect the
Company's internal control over financial reporting.

Item 6.  EXHIBITS

(a) Exhibits

31.1 Certification  Pursuant to 18 U.S.C.  Section 1350, As Adopted  Pursuant to
     Section 302 of The Sarbanes-Oxley Act of 2002 by Chief Executive Officer

31.2 Certification  Pursuant to 18 U.S.C.  Section 1350, As Adopted  Pursuant to
     Section 302 of The Sarbanes-Oxley Act of 2002 by Chief Financial Officer

32.1 Certification   Of  Periodic   Report   Pursuant  to  Section  906  of  the
     Sarbanes-Oxley  Act of 2002,  18  U.S.C.  Section  1350 by Chief  Executive
     Officer

32.2 Certification   Of  Periodic   Report   Pursuant  to  Section  906  of  the
     Sarbanes-Oxley  Act of 2002,  18  U.S.C.  Section  1350 by Chief  Financial
     Officer

                                   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.

ELDORADO ARTESIAN SPRINGS, INC.

By: /s/  Douglas Larson
    -------------------
Douglas Larson, President

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report
is  signed  below by the  following  persons  on behalf  of the  Company  in the
capacities and on the dates indicated.

     Name and Capacity                                           Date

/s/ Douglas A. Larson                                      March 18, 2005
------------------------------------
Douglas A. Larson, President
and Director

/s/ Kevin M. Sipple                                        March 18, 2005
---------------------------------------------------
Kevin M. Sipple, Vice-President,
Secretary and Director

/s/ Cathleen Shoenfeld                                     March 18, 2005
------------------------------------
Cathleen Shoenfeld, Chief Financial Officer
(principal financial and accounting officer)

/s/ Jeremy S. Martin                                       March 18, 2005
-----------------------------------------------------------
Jeremy S. Martin, Vice-President
and Director

/s/ George J. Schmitt                                      March 18, 2005
-----------------------------------------------------------
George J. Schmitt, Director

/s/ Don P. Van Winkle                                      March 18, 2005
------------------------------------
Don P. Van Winkle, Director

                         ELDORADO ARTESIAN SPRINGS, INC.

                         Annual Report on Form 10-QSB/A
                        for the Year Ended March 31, 2004
                             Exhibits Filed Herewith

Exhibit
Number                                    Description
--------                                  -----------

31.1 Certification  Pursuant to 18 U.S.C.  Section 1350, As Adopted  Pursuant to
     Section 302 of The Sarbanes-Oxley Act of 2002 by Chief Executive Officer

31.2 Certification  Pursuant to 18 U.S.C.  Section 1350, As Adopted  Pursuant to
     Section 302 of The Sarbanes-Oxley Act of 2002 by Chief Financial Officer

32.1 Certification   Of  Periodic   Report   Pursuant  to  Section  906  of  the
     Sarbanes-Oxley  Act of 2002,  18  U.S.C.  Section  1350 by Chief  Executive
     Officer

32.2 Certification   Of  Periodic   Report   Pursuant  to  Section  906  of  the
     Sarbanes-Oxley  Act of 2002,  18  U.S.C.  Section  1350 by Chief  Financial
     Officer
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