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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 31, 2012
STEVIA CORP.
(Exact Name of Registrant as Specified in its Charter)
Nevada 333-152365 98-0537233
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
7117 US 31 S
Indianapolis, IN 46227
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: (888) 250-2566
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On March 31, 2012, Stevia Corp. (the "Company") entered into a Proprietary
Formulation & Supply Agreement (the "Supply Agreement") with Guangzhou Health
China Technology Development Company Limited ("Deli"), pursuant to which Deli
will provide the Company with certain exclusive formulations and proprietary
feed supplements, fertilizer ingredients and other products utilizing stevia
components (the "Products").
There are no minimum purchase guarantees in the Supply Agreement and order
quantities shall be specified in individual purchase orders and agreed upon
between the Company and Deli. The Company and Deli will periodically review and
agree to revisions to the established prices for the Products.
The Supply Agreement has an initial term of five years, subject to early
termination by the non-breaching party for a material breach of the Supply
Agreement or in the event the parties are not able to agree upon Product
specifications or pricing upon the periodic review of such provisions.
The foregoing description is qualified in its entirety by reference to the
Supply Agreement, a copy of which appears as Exhibit 10.1 to this Form 8-K and
is incorporated by reference to this Item 1.01.
ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.
On March 31, 2012, the Company entered into a Termination Agreement (the
"Termination Agreement") with Agro Genesis Pte Ltd ("Agro Genesis"), whereby the
Company and Agro Genesis agreed to terminate the Agribusiness Development
Agreement, dated July 16, 2011 (the "Development Agreement"), and release each
other from any further obligations under the Development Agreement.
The Company's entry into the Supply Agreement with Deli is expected to
provide the Company with similar, but more expansive propagation and cultivation
technologies, and as a result, the Company has deemed the Development Agreement
with Agro Genesis to be unnecessary.
Under the terms of the Development Agreement, the Company engaged Agro
Genesis to be the Company's technology provider consultant for stevia
propagation and cultivation in Vietnam, and potentially other countries for a
period of two years. For its services, Agro Genesis was to receive a fee of up
to 275,000 Singapore dollars, plus related expenses.
Additionally, the Company was to be Agro Genesis' exclusive distributor for
its G-Farm system for stevia growing resulting. Agro Genesis was to receive a
commission of no less than two percent of the price paid for crops other than
stevia, from cropping systems that utilized the G-Farm system.
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On August 26, 2011, the Company and Agro Genesis mutually agreed to add to
the Development Agreement budget $100,000 per annum for one, on-site resident
Agro Genesis expert for two years, effective September 1, 2011.
The foregoing description is qualified in its entirety by reference to the
Termination Agreement, a copy of which appears as Exhibit 10.2 to this Form 8-K
and is incorporated by reference to this Item 1.02.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit No. Description
----------- -----------
10.1 Proprietary Formulation & Supply Agreement, dated March 31, 2012
10.2 Termination Agreement, dated March 31, 2012
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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 hereunto duly authorized.
Date: April 5, 2012 STEVIA CORP.
By: /s/ George Blankenbaker
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George Blankenbaker
President
