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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



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FORM 10KSB/A



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|x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------



FOR THE FISCAL YEAR ENDED MARCH 31, 2004



or



| ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------



Commission File No. 001-16185



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GEOPHARMA, INC.

(Name of small business issuer in its charter)

previously filed as

(INNOVATIVE COMPANIES, INC.)



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|                                                                  |  |                                  
|----------------------------------------------------------------- |  | ---------------------------------
|State of Florida                                                  |  | 59-2600232                       
|(State of or other jurisdiction of incorporation or organization) |  | (IRS Employer Identification No.)
|                                                                  | 
|6950 Bryan Dairy Road, Largo, Florida                             |  | 33777                            
|(Address of Principal Executive Officers)                         |  | (Zip Code)                       



Issuers
telephone number: (727) 544-8866



Securities registered
pursuant to Section 12(b) of the Exchange Act: None.



Securities registered pursuant to Section 12(g) of the Exchange Act:



Common Capital Stock

(Title of Class)



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Indicate by check mark whether the issuer (1) filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during
the past 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.    Yesx    No ̈



Indicate by check mark if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not
contained in this form, and no disclosure will 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



Issuers revenues for its most recent fiscal year were $22,919,844.



The aggregate market value of the voting stock held by non-affiliates of the Registrant as of June 24, 2004 was $42,935,450. Number of shares outstanding of the Issuers common stock at $.01 par value as of June
24, 2004 was 7,653,378 (net of 500,960 Treasury Shares).



Documents
Incorporated by Reference:



Reference is made in Part III
of this Report to the Companys Registration Statement, filing Number 333-92849, filed with the SEC on December 14, 1999, which is hereby incorporated by reference, and amendments No. 1-5 thereto as filed dated May 11, 2000, June 28, 2000, July
25, 2000, September 18, 2000, and October 19, 2000, respectively.



Transitional Small Business Disclosure Format:    Yes ̈No  x



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ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS



The following table sets forth, as of March 31, 2004,
certain information concerning beneficial ownership of shares of Common Stock with respect to (i) each person known to the Company to own 5% or more of the outstanding shares of Common Stock, (ii) each director of the Company, (iii) the executive
officers of the Company, and (iv) all directors and officers of the Company as a group:



|               |  |                                          |  |                                             |  |                                |  
|-------------- |  | ---------------------------------------- |  | ------------------------------------------- |  | ------------------------------ | -
|Title Of Class |  | Name And Address Of Beneficial Owner (1) |  | Amount And Nature OfBeneficialOwnership (2) |  | ApproximatePercent ofClass (%) |  
|Common         |  | Jugal K. Taneja                          |  | 1,717,200                                   |  | 21.4                           | %
|Common         |  | Mihir K. Taneja                          |  | 520,495                                     |  | 6.4                            | %
|Common         |  | Kotha S. Sekharam, PhD                   |  | 275,734                                     |  | 3.4                            | %
|Common         |  | Carol Dore-Falcone                       |  | 76,500                                      |  | 1.0                            | %
|Common         |  | Joseph Zappala                           |  | 1,813,417                                   |  | 22.6                           | %
|Common         |  | Shan Shikarpuri, CPA                     |  |                                            |  |                               | %
|Common         |  | Barry H. Dash, PhD                       |  |                                            |  |                               | %
|Common         |  | George Stuart, Jr.                       |  | 34,063                                      |  | 0.4                            | %
|Common         |  | Carnegie Capital                         |  | 582,537                                     |  | 7.3                            | %
|Common         |  | Barclays Global Investors                |  | 516,279                                     |  | 6.5                            | %
|Common         |  | All officers and directors as a group    |  | 5,019,946                                   |  | 59.8                           | %

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|(1) | Except as noted above, the address for the above identified officers and directors of the Company is c/o GeoPharma, Inc., 6950 Bryan Dairy Road, Largo, Florida 33777.
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|(2) | Beneficial ownership is determined in accordance with the rules of the Commission and generally includes voting or investment power with respect to the shares shown. Except where
indicated by footnote and subject to community property laws where applicable, the persons named in the table have sole voting and investment power with respect to all shares of voting securities shown as beneficially owned by them. Percentages are
based upon the assumption that each shareholder has exercised all of the currently exercisable options he or she owns which are currently exercisable or exercisable within 60 days and that no other shareholder has exercised any options he or she
owns.
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|(3) | The following factors have been taken into consideration in calculating the amount and nature of beneficial ownership in GeoPharma:
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| |  | Dr. Kotha Sekharams beneficially owned shares include approximately 26,733 shares beneficially owned by Madhavi Sekharam, Dr. Sekharams wife, as to which Dr. Sekharam
exercises no investment or voting power and disclaims beneficial ownership.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | Jugal K. Tanejas beneficially owned shares include approximately 359,206 shares beneficially owned by his wife Manju Taneja. Mr. Taneja exercises no investment or voting power
over any of the shares owned by his wife, and disclaims beneficial ownership of those shares.
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | Jugal K. Tanejas beneficially owned shares also include 582,537 shares beneficially owned by Carnegie Capital, Ltd, 347,938 shares beneficially owned by Bryan Capital Limited
Partnership and approximately 60,855 shares beneficially owned by First Delhi Trust. Mr. Taneja is the general partner of both Carnegie Capital, Ltd. and First Delhi Trust, and holds sole voting and investment power over these shares. Bryan Capital
Limited Partnership is indirectly owned by Dynamic Health Products, Inc., an affiliate, and who Jugal K. Taneja is the Chairman and CEO.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  | Joseph Zappalas beneficially owned shares include 358,500 shares beneficially owned by Mr. Zappalas wife and minor child.
| | - | ---------------------------------------------------------------------------------------------------------------------------



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SIGNATURES



In accordance with the requirements of Section 13 or 15(d) of the Exchange Act, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.



Dated: July 2, 2004
GEOPHARMA, INC.



/s/ Mihir K. Taneja,Mihir K. Taneja,Chief Executive Officer,Secretary and Director/s/ Kotha S. Sekharam,
Ph.DKotha S. Sekharam, Ph.DPresident and Director/s/ Carol
Dore-FalconeCarol Dore-FalconeVice President and Chief Financial Officer (Chief Accounting Officer)




In accordance
with Exchange Act this report has been signed below by the following persons on behalf of the registrant in the capacities as on July 2, 2004.



/s/ Jugal K. TanejaJugal K. TanejaChairman of the Board of Directors/s/ Barry H. Dash,
PhDBarry H. Dash, PhDDirector  /s/ Joseph ZappalaJoseph ZappalaDirector/s/ George L. Stuart,
Jr.George L. Stuart, Jr./s/ Shan
ShikarpuriShan ShikarpuriDirector




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