EXHIBIT 99.1

Press Release

Innovative Companies, Inc. Announces Institutional $5.0 Million Private
Placement of Equity Securities

Innovative Companies, Inc. - Largo, FL - March 11, 2004 - Innovative Companies,
Inc. (NASDAQ SC: GORX) has completed a private placement of $5.0 million of
convertible preferred stock and warrants to two institutional investors,
including Midsummer Investment, Ltd. Under the terms of the equity financing,
Innovative issued preferred stock with a conversion price of $6.00 per share of
common stock representing a 5% premium to the market price of the common stock
at the time of closing, based on the daily volume weighted average price for
each of the 10 prior days. The preferred dividend rate is 6% per annum for the
first three years and steps up thereafter and is payable in stock or cash at the
Company's choice. Innovative issued warrants to purchase 131,250 shares of
common stock at $6.29 and 131,250 shares of common stock at $6.57 representing a
10% and 15% premium to the market price of the common stock at the time of
closing respectively. Innovative will benefit from redemption and forced
conversion rights on the preferred stock at specific price levels. Proceeds of
the placement will be used to fund our strategic growth plans surrounding our
generic drug research, our ANDA filings in addition to funding our growth of our
national branded product line, CarbSlim.

About Innovative Companies, Inc.

Innovative Companies, Inc. manufactures, packages, repackages and distributes a
wide array of health-related products. Innovative Companies, Inc. is comprised
of the contract manufacturing entity, Innovative Health Products, Inc. and its
two wholly owned subsidiaries, Belcher Pharmaceuticals and Breakthrough
Engineered Nutrition. Innovative Health Products custom manufactures high
quality nutraceuticals, dietary supplements and vitamin supplements. Belcher
Pharmaceuticals is an FDA registered plant that manufactures over-the-counter
drugs and repackages generic pharmaceuticals drugs. Breakthrough Engineered
Nutrition markets and distributes its proprietary line of branded convenience
foods for the low-carb and low-glycemic lifestyles. Breakthrough's brands, Lean
Protein and CarbSlim are distributed nationwide and are found in both mass
retail and specialty outlets. For more about Innovative Companies, Inc. go to
our websites at www.onlineihp.com, www.leanprotein.com and www.carbslim.com.

SAFE HARBOR PROVISIONS

Certain oral statements made by management from time to time and certain
statements contained in press releases and periodic reports issued by Innovative
Companies, Inc. (the "Company"), as well as those contained herein, that are not
historical facts are "forward-looking statements" within the meaning of Section
21E of the Securities and Exchange Act of 1934 and, because such statements
involve risks and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Forward-looking
statements, including those in Management's Discussion and Analysis, are
statements regarding the intent, belief or current expectations, estimates or
projections of the Company, its Directors or its Officers about the Company and
the industry in which it operates, and are based on assumptions made by
management. Forward-looking statements include without limitation statements
regarding: (a) the Company's growth and business expansion, including future
acquisitions; (b) the Company's financing plans;(c) trends affecting the
Company's financial condition or results of operations; (d) the Company's
ability to continue to control costs and to meet its liquidity and other
financing needs; (e) the declaration and payment of dividends; (f) the Company's
use of proceeds from their initial public offering, and (g) the Company's
ability to respond to changes in customer demand and regulations. Although the
Company believes that its expectations are based on reasonable assumptions, it
can give no assurance that the anticipated results will occur. When issued in
this report, the words "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "estimates," and similar expressions are generally intended to identify
forward-looking statements.

     Important factors that could cause the actual results to differ materially
from those in the forward-looking statements include, among other items, (i)
changes in the regulatory and general economic environment related to the health
care and nutraceutical industry; (ii) conditions in the capital markets,
including the interest rate environment and the availability of capital; (iii)
changes in the competitive marketplace that could affect the Company's revenue
and/or cost and expenses, such as increased competition, lack of qualified
marketing, management or other personnel, and increased labor and inventory
costs; (iv) changes in technology or customer requirements, which could render
the Company's technologies noncompetitive or obsolete; (v) new product
introductions, product sales mix and the geographic mix of sales and (vi) its
customers' willingness to accept its Internet platform in the future. Further
information relating to factors that could cause actual results to differ from
those anticipated is included but not limited to information under the headings
"Business," and "Management's Discussion and Analysis of Financial Conditions
and Results of Operations" in this Form 10-KSB as of and for the year ended
March 31, 2003 which was filed with the Securities and Exchange Commission on
June 30, 2003. The Company disclaims any intention or obligation to update or
revise forward-looking statements, whether as a result of new information,
future events or otherwise.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this
advertisement are forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with the uncertainty
of future financial results, additional financing requirements, development of
new products, governmental approval processes, the impact of competitive
products or pricing, technological changes, the effect of economic conditions
and other uncertainties detailed in the Company's filings with the Securities
and Exchange Commission