Tridan N-CSR Certified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-3056

TRIDAN CORP.

(Exact name of registrant as specified in charter)

c/o Kantor, Davidoff et al.

415 Madison Avenue, 16^th Floor, New York, NY 10017

(Address of principal executive offices)

I. Robert Harris, c/o Kantor, Davidoff, et al.

415 Madison Avenue, 16^th Floor, New York, NY 10017

(Name and address of agent for service)

Registrant’s telephone number, including area code: (212) 239-0515

Date of fiscal year end:	April 30, 2017
Date of reporting period:	April 30, 2017

Item 1. Reports to Stockholders.

Attached on the following pages is a copy of the registrant’s annual report as of April 30, 2017 transmitted to stockholders.

TRIDAN CORP.

P.O. Box 634, New City, N.Y. 10956

(212) 239-0515

ANNUAL REPORT

June 27, 2017

Dear Shareholder:

I am pleased to provide this annual report of Tridan Corp. for the fiscal year ended April 30, 2017, including the enclosed audited financial report for that period and for the corresponding period in 2016. Also enclosed are the notice of meeting, proxy statement for this year’s annual shareholders meeting on July 18, 2017, form of proxy, and the company’s privacy policy.

A schedule of the company’s portfolio holdings at April 30, 2017, consisting entirely of municipal obligations, is included in the financial report. The company invests exclusively in non-voting securities. The company files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-Q. The company’s Forms N-Q are available on the Commission’s website at http://www.sec.gov. They may be reviewed and copied at the Commission’s Public Reference Room in Washington D.C., and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

The net asset value per share at April 30, 2017 was $12.28, compared with $12.60 at April 30, 2016. Net investment income per share was $.22, for the year ended April 30, 2017, compared with $.25 for the year ended April 30, 2016. Distributions to shareholders amounted to $.22 per share for fiscal 2017, compared to $.25 for

fiscal 2016.

At the company’s last annual meeting on July 19, 2016, the reappointment of WeiserMazars LLP (now known as Mazars USA LLP) as the company’s auditors for the fiscal year ending April 30, 2017 was ratified by the shareholders as follows:

Shares Voted For	2,869,862.5184
Shares Voted Against	None
Shares Abstaining	None

TRIDAN CORP.

June 27, 2017

Page – 2 –

Also at the last annual meeting, the then incumbent directors, all of whom are named below, were all reelected to serve as directors until the next annual meeting of shareholders, or until their successors are elected and have qualified.

	Shares Voted For	Shares Withheld
Mark Goodman	2,869,862.5184	0
Peter Goodman	2,869,862.5184	0
Paul Kramer	2,869.557.0839	305.4345
Jay S. Negin	2,869,862.5184	0
Warren F. Pelton	2,869,862.5184	0
Russell J. Stoever	2,869,557.0839	305.4345

Mr. Pelton recently resigned as a director and officer for personal reasons, and Mr. Negin recently passed away.

The following Tables A and B set forth information concerning the directors and a nominee as director, and Table C sets forth information concerning non-director officers of the company. The Table A directors (Mark Goodman and Peter Goodman) are “interested persons” as defined in Section 2(a)19 of the Investment Company Act of 1940, and the Table B directors and nominee (Messrs. Kramer and Stoever, and Ms. Rall) are not. Peter Goodman and his son Mark Goodman are “interested persons” because each of them is an officer and holder of more than 5% of the shares of the company

Table A

Name, Address and Age	Positions in Tridan Corp.	Director Since	Principal Occupations During Past 5 Years	Number of Portfolios Overseen	Other Directorships During Past 5 Years
Interested Persons:
Mark Goodman (Son of Peter Goodman) 7 Porters Cove Road Hingham, MA 02043 Age 63	Director	1999	Pianist and Teacher	1	None
Peter Goodman 65 Wendover Road Rye, NY 10580 Age 91	Director and President	1980	President, Tridan Corp.	1	None

TRIDAN CORP.

June 27, 2017

Page – 3 –

Table B

Name, Address and Age	Positions in Tridan Corp.	Director Since	Principal Occupations During Past 5 Years	Number of Portfolios Overseen	Other Director- ships During Past 5 Years
Disinterested Persons:
Paul Kramer 330 East 33rd Street, #20C New York, NY 10016 Age 85	Director and Audit Committee Chairman	2004	Financial Advisory Services; Partner, Kramer Love & Cutler, LLP (certified public accountants)	1	None
Joan G. Rall 55 East 9th Street, #11F New York, NY 10003 Age 63	Director and Audit Committee Member	June 15 2017	Partner, Ernst & Young LLP (certified public Accountants)	1	None
Russell Jude Stoever 15 Rockleigh Road Rockleigh, NJ 07647 Age 72	Director and Audit Committee Member	1995	Vice-President, Stoever Glass & Co., Inc. (a registered broker-dealer)	1	None

Table C

Name, Address and Age	Positions in Tridan Corp.	Principal Occupations During Past 5 Years	Number of Portfolios Overseen	Other Director- ships Held
Non-director Officers:
I. Robert Harris 415 Madison Avenue 16th Floor New York, NY 10017 Age 85	Secretary and Chief Compliance Officer	Attorney	None	None

TRIDAN CORP.

June 27, 2017

Page – 4 –

The board of directors governs the Company and is responsible for protecting the interests of shareholders. The directors meet periodically throughout the year to oversee the Company’s activities and review its performance. Each of the directors is committed to regular and active participation in board and committee meetings. The board believes that, collectively, the directors have balanced and diverse experience, qualifications, attributes, and skills which allow the board to operate effectively in governing the Company and protecting the interests of shareholders. Information about the specific experience, skills, attributes and qualifications of each director is provided below.

Peter Goodman – Mr. Goodman is the principal shareholder, a director and chief executive officer of Tridan Corp., and also held those positions in its wholly-owned subsidiary Danskin, Inc. prior to sale of the business in 1980 and Tridan’s conversion to an investment company. He is skilled in business, thoroughly familiar with the company’s history and its activities, and has had extensive experience in securities investments, including municipal bonds.

Joan G. Rall—Ms. Rall is a certified public accountant and recently retired from a career with Ernst & Young LLP as an Assurance and Advisory Partner. She has extensive experience in accounting, auditing, enterprise risk management, technology risk and assurance, and personnel management. She is an Adjunct Professor of Accounting at NYU, and is also Co-Founder and Chief Administrative Officer of a biotech startup, Genusetics Inc.

Russell J. Stoever – Mr. Stoever has been a director since 1995. He is vice president and sales manager of Stoever, Glass & Co., Inc., a registered broker-dealer. He has been employed there since 1971 and became a principal of that corporation in 1982, with involvement in all aspects of municipal finance. He is not an “interested person” of Tridan Corp., as defined in the Investment Company Act, in that he does not execute any portfolio transactions for, or engage in any principal transactions with, Tridan or its investment adviser or any accounts over which the adviser has brokerage placement discretion, or any other investment company having the same investment adviser. Mr. Stoever brings to the board a keen analysis of economic and market conditions and trends, and his views concerning portfolio management.

Mark Goodman – Mr. Goodman has been a director since 1999. He is the son of Peter Goodman, and has been a shareholder of Tridan since before its 1980 conversion to an investment company. He is knowledgeable in the history and activities of the Company, and has also had broad investment experience in fixed income securities, including municipal bonds.

Paul Kramer – Mr. Kramer has been a director since 2004. He has extensive experience as a certified public accountant and is expert in the fields of corporate governance, executive management, corporate restructuring, audit committee functions and related activities. He has served on the board of directors of a number of publicly-held corporations over the years. Mr. Kramer brings his skill and leadership abilities to his positions as a director and as chairman of Tridan’s audit committee.

TRIDAN CORP.

June 27, 2017

Page – 5 –

No director or officer received any compensation from the Company during the last fiscal year, except for the fees of $12,000 paid during each year to each director, plus an additional $5,000 to Paul Kramer as chairman of the audit committee. The Company does not have any bonus, profit sharing, or other compensation plan, contract or arrangement with anyone, nor any pension or retirement plan; nor has the Company ever granted to anyone any option, warrants or other rights to purchase securities.

All executive officers of the Company as a group (two persons) received compensation (comprised solely of said directors' fees) aggregating $24,000 during fiscal 2017 (which excludes professional fees paid to the law firm of which I. Robert Harris, secretary of the Company, is a member).

Additional information about directors may be requested by any shareholder without charge, by telephoning the company’s secretary, I. Robert Harris, collect at 212-682-8383, extension 739.

Sincerely

TRIDAN CORP.

/S/ Peter Goodman

Peter Goodman, President

Tridan Corp.

Financial Statements

April 30, 2017 and 2016

Tridan Corp.

Contents

April 30, 2017 and 2016

	Page(s)
Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Assets and Liabilities April 30, 2017 and 2016	2
Schedules of Investments in Municipal Obligations April 30, 2017 and 2016	3-8
Statements of Operations Years Ended April 30, 2017 and 2016	9
Statements of Changes in Net Assets Years Ended April 30, 2017, 2016 and 2015	10
Notes to Financial Statements	11-17

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of

Tridan Corp.

We have audited the accompanying statements of assets and liabilities of Tridan Corp. (the “Company”), including the schedules of investments in municipal obligations, as of April 30, 2017 and 2016, and the related statements of operations for the years then ended, the statements of changes in net assets for each of the three years in the three-year period ended April 30, 2017, and the financial highlights (see Note 7) for each of the five years in the five-year period ended April 30, 2017. These financial statements and financial highlights are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned, as of April 30, 2017 and 2016, by correspondence with the custodian. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Tridan Corp. as of April 30, 2017 and 2016, the results of its operations for the years then ended, the changes in its net assets for each of the three years in the three-year period ended April 30, 2017, and its financial highlights for each of the five years in the five-year period ended April 30, 2017, in conformity with accounting principles generally accepted in the United States of America.

New York, NY

June 22, 2017

Tridan Corp.

Statements of Assets and Liabilities

April 30, 2017 and 2016

	2017			2016
Assets
Investments in municipal obligations, at fair value (original cost - $38,339,691 and $36,996,552, respectively) (amortized cost - $36,298,626 and 35,061,465, respectively)	$	37,671,055		$	37,443,486
Cash and cash equivalents		109,968			1,094,211
Prepaid expenses and other current assets		3,719			3,719
Accrued interest receivable		496,825			494,562
Total assets		38,281,567			39,035,978
Liabilities
Accrued liabilities:
Accrued investment advisory and custodian fees		38,264			39,733
Accrued fees - affiliate		18,977			18,721
Accrued other		30,648			12,180
Common stock redemption payable		201			13,771
Payable for investment purchased		618,240			-
Total liabilities		706,330			84,405
Net assets	$	37,575,237		$	38,951,573
Analysis of net assets
Common stock, at $.02 par value, 6,000,000 shares authorized, 3,199,100 shares issued at April 30, 2017 and 2016	$	63,982		$	63,982
Paid-in capital		37,816,314			37,816,314
Treasury stock, 139,480.2348 shares and 108,138.8113 shares at April 30, 2017 and 2016, respectively		(1,674,474	)		(1,284,587	)
Distributable earnings:
Over distributed net investment income		(10,843	)		(15,895	)
Undistributed capital gains ( losses)		7,830			(10,267	)
Unrealized appreciation of investments, net		1,372,428			2,382,026
Net assets [equivalent to $12.28 and $12.60 per share, respectively, based on 3,059,619.7652 shares and 3,090,961.1887 shares of common stock outstanding, respectively]	$	37,575,237		$	38,951,573

The accompanying notes are an integral part of these financial statements.

2

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2017 and 2016

	2017									2016
	Principal Amount		Amortized Cost		Fair Value					Principal Amount		Amortized Cost		Fair Value
Insured Bonds
Ardsley New York Union Free
School District Unlimited Tax
4.0% due June 15, 2016	$	-	$	-	$	-				$	460,000	$	460,107	$	461,987
Village of Briarcliff Manor New York
Pub Impt Unlimited Tax
5.0% due September 1, 2017		-		-		-					215,000		217,750		227,575
N.Y.S. Dormitory Authority Revs
Non St Supported Debt Insd Sien College
(Par Call July 1, 2016 @100)
5.0% due July 1, 2020		1,000,000		1,003,427		1,001,170					1,000,000		1,009,595		1,008,140
N.Y.S. Dormitory Authority Revs
Non St Supported Debt St Johns Univ - Insd
5.25% due July 1, 2021		1,000,000		1,035,024		1,155,140					1,000,000		1,043,358		1,203,340
N.Y.S. Dormitory Authority Revs
City University Sys Ref Cons 5th Gen
5.5% due July 1, 2019		1,000,000		1,019,377		1,094,750					1,000,000		1,028,720		1,142,850
N.Y.S. Dormitory Authority Revs
5.5% due May 15, 2018		1,155,000		1,169,334		1,209,608					1,155,000		1,183,174		1,266,354
Sachem Central School District
NY Holbrook Ref Unlimited Tax
5.25% due October 15, 2019		500,000		511,624		550,035					500,000		516,297		573,205
N.Y.S. Dormitory Authority
St. Pers. Income Tax Rev. Ed.
(Par Call March 15, 2018 @100)
5.5% due March 15, 2025		500,000		536,591		627,820					500,000		541,233		657,385
		5,155,000		5,275,377		5,638,523					5,830,000		6,000,233		6,540,836
						15.0	%	(	*)						16.8	%	(	*)
Revenue Backed Bonds
NY Bond Bank Agency
SCH Purpose Revenue
5.00% dye December 01, 2019		300,000		330,992		328,554					-		-		-
Brookhaven NY Limited Tax
4.00% due March 15, 2023		1,000,000		1,164,559		1,141,650					-		-		-
Saratoga County NY
Ref LTD Tax
5.00% due July 15, 2023		100,000		126,690		120,890					-		-		-
NYC NY TR Cultural RES-
Museum of Modern Art
4.00% due February 01, 2023		400,000		463,927		453,756					-		-		-
Brookhaven NY Ref Unlimited Tax
5.00% due March 15, 2025 (a)		500,000		617,830		615,355					-		-		-
Erie County Indvl Dev Agency
5.00% due May 01, 2025		750,000		951,048		910,605					-		-		-

The accompanying notes are an integral part of these financial statements.

3

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2017 and 2016

	2017						2016
	Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Revenue Backed Bonds (continued)
NYC NY TR Cultural Res-
Museum of Modern Art
4.00% due April 01, 2026	$	500,000	$	595,114	$	578,385	$	-	$	-	$	-
NY ST Environmental FACS
5.00% due June 15, 2026		1,300,000		1,574,795		1,619,514		-		-		-
Util Debt Securitization
5.00% due December 15, 2026		500,000		593,690		608,060		-		-		-
Brookhaven NY Unlimited Tax
5.0% due November 15, 2019		450,000		475,497		495,009		450,000		485,504		515,196
Queensbury NY Union Free School
District Ref Unlimited Tax
4.0% due December 15, 2018		225,000		231,790		235,456		225,000		235,955		242,854
Hilton NY Central School District
Unlimited Tax
4.0% due June 15, 2019		500,000		526,937		528,645		500,000		539,592		544,515
Bethlehem NY Central School District
Unlimited Tax
4.0% due January 15, 2021		500,000		529,614		547,345		500,000		537,580		566,120
Rockville Center NY
Limited Tax
4.0% due June 15, 2022		200,000		222,136		225,666		200,000		221,836		233,890
Rhinebeck NY Central School District
Unlimited Tax
(Par Call June 15, 2023)
4.0% due June 15, 2025		535,000		574,680		586,868		535,000		581,147		612,420
City of New York NY Municipal Water
Fin Auth Wtr. & Sewer Rev Fiscal 2009
(Par Call June 15, 2019 @100)
5.0% due June 15, 2027		500,000		506,445		542,985		500,000		509,473		560,115
City of New York Transitional Finance
Auth Rev Sub Future Tax Secured
(Par Call November 1, 2019 @100):
5.0% due November 1, 2020		500,000		518,175		549,599		500,000		524,319		573,540
5.0% due November 1, 2021		1,000,000		1,033,896		1,100,490		1,000,000		1,046,872		1,147,080
Greece NY Central School District
Unlimited Tax
(Par Call December 15, 2022 @100)
5.0% due December 15, 2023		500,000		556,305		584,005		500,000		565,947		611,930

The accompanying notes are an integral part of these financial statements.

4

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2017 and 2016

	2017						2016
	Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Revenue Backed Bonds (continued)
Nassau County New York
Gen. Impt. Unlimited tax
(Par Call October 1, 2020 @100)
4.0% due October 1, 2022	$	550,000	$	562,702	$	590,249	$	550,000	$	566,765	$	609,048
N.Y.S. Dormitory Authority								��
St. Pers. Income Tax Rev. Ed.
(Par Call March 15, 2018 @100)
5.0% due March 15, 2022		750,000		752,660		777,225		750,000		760,614		810,113
N.Y.S. Dormitory Authority
St. Pers. Income Tax Rev. Ed.
5.5% due March 15, 2026		200,000		244,629		254,340		200,000		249,654		267,328
N.Y.S. Dormitory Authority
Mental Health Services FACS
(Par Call August 15, 2020 @100)
5.0% due August 15, 2023		420,000		422,503		469,489		420,000		423,483		484,890
New York Environmental Facilities Corp
Pollution Control Rev St Water NYC 02
(Par Call June 15, 2016 @100)
5.0% due June 15, 2018		-		-		-		1,000,000		1,000,987		1,006,110
New York NY Unlimited Tax
5.0% due August 1, 2023		510,000		534,026		571,383		510,000		541,396		592,156
N. Y.S. Thruway Authority
St Pers Income Tax Rev Transn
5.25% due March 15, 2019		750,000		762,145		808,785		750,000		768,617		844,200
N.Y. Unlimited Tax
5.0% due August 1, 2026		350,000		351,659		380,016		350,000		352,368		396,368
N.Y.S. Urban Development Corp.
Rev. Ref. Svc. Contract
(Par Call August 1, 2019)
5.0% due January 1, 2017		-		-		-		225,000		227,890		231,755
Port Authority of New York and New Jersey
(Par Call October 1, 2016 @100)
5.0% due October 1, 2027		-		-		-		300,000		300,381		305,336
5.375% due March 1, 2028		150,000		153,396		182,519		150,000		153,709		190,124
Starpoint NY Central School District
Ref Unlimited Tax
5.0% due June 15, 2018		850,000		881,793		889,168		850,000		908,967		926,737
State of New York Local Government
Assistance Corp. SR. Lien Refunding Bonds
(Par Call April 1, 2018 @100)
5.0% due April 1, 2019		200,000		200,548		207,634		200,000		203,626		216,522

The accompanying notes are an integral part of these financial statements.

5

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2017 and 2016

	2017						2016
	Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Revenue Backed Bonds (continued)
Clarkstown NY Central
School District
4.0% due May 15, 2019	$	500,000	$	525,702	$	530,245	$	500,000	$	537,919	$	547,990
Wantagh NY Union
Free School District
5.0% due September 1, 2021		550,000		608,254		635,613		550,000		621,660		663,020
Central Islip NY Union Free
School District Ref Unlimited
5.0% due July 15, 2022		750,000		859,742		878,490		750,000		880,681		918,623
Syosset NY Central School
5.0% due December 15, 2022		125,000		137,659		147,618		125,000		140,243		154,498
Brentwood NY UN Free School
District RED Unlimited
5.0% due January 15, 2023		430,000		466,626		509,649		430,000		473,426		533,677
Battery Park City NY
5.0% due January 15, 2029		140,000		152,644		166,495		140,000		154,868		172,498
Connetquot NY Central School
District Unlimited Tax
5.0% due January 15, 2024		400,000		435,795		480,736		400,000		441,123		504,760
Syosset NY Central School District
5.0% due December 15, 2022		435,000		476,741		506,314		435,000		483,392		530,546
5.0% due December 15, 2022		300,000		325,679		346,041		300,000		329,771		363,357
NYC Transitional Fin Auth
Rev Future Tax
5.0% due November 1, 2026		550,000		593,093		648,851		550,000		600,911		678,216
Util Debt Securitization
5.0% due December 15, 2028		500,000		538,224		591,085		500,000		544,274		618,055
Western Nassau CNTY WTR Auth Ser A
(Par call April 01, 2025 @ 100)
5.0% due April 01, 2028		100,000		114,559		116,270		100,000		116,395		122,071
Thompkins CNTY- NY Ref- Public
IMPT-SER
(Par call December 15, 2024 @ 100)
5.0% due December 15, 2027		500,000		591,328		599,120		500,000		603,289		627,460
Gates Chili NY Sch Dstr Unlimited Tax
(Par call June 15, 2025 @ 100)
5.0% due June 15, 2027		200,000		240,303		240,460		200,000		245,258		252,650

The accompanying notes are an integral part of these financial statements.

6

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2017 and 2016

	2017						2016
	Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Revenue Backed Bonds (continued)
Mattituck Cutchogue NY UN Ser A
(Par call July 15, 2025 @ 100)
5.0% due July 15, 2027	$	365,000	$	433,641	$	436,327	$	365,000	$	441,995	$	458,174
Halfmoon NY REF PUB Limited Tax
(Par call June 15, 2025 @ 100)
5.0% due June 15, 2027		280,000		332,594		335,952		280,000		339,068		351,840
Putnam County Ref LTD Tax
(Par call January 01, 2026 @ 100)
5.0% due Januyary 01, 2027		135,000		162,725		164,430		135,000		165,905		172,462
Mattituck Cutchogue NY Ser A
(Par call July 15, 2025 @ 100)
5.0% due July 15, 2026		280,000		335,184		338,078		280,000		341,900		355,908
Build NYC Resource Corp NY
Rev United Jewish Appeal
(Par call July 01, 2024 @ 100)
5.0% due July 01, 2025		320,000		371,441		381,507		320,000		377,730		400,528
Saratoga Springs NY Ref Public
IMPT Unlimited Tax
(Par Call February 15, 2023 @ 100)
5.0% due February 15, 2025		225,000		258,531		264,022		225,000		262,827		276,728
Buffalo & Ft. Erie NY Public
IMPT Unlimited Tax
5.0% due January 01, 2025		410,000		469,323		490,971		410,000		477,021		513,402
Bayport-Blue Point NY UN Free
School Dist Ref Unlimited
5.0% due September 15, 2024		250,000		292,964		305,210		250,000		298,781		321,188
Rensselaer County NY Unlimited Tax
5.0% due September 01, 2024		100,000		125,241		122,476		100,000		125,028		128,116
North Babylon NY UN Free School Dist
(Par call August 1, 2022 @ 100)
5.0% due August 01, 2023		250,000		280,369		291,110		250,000		286,142		304,585
Onandaga County NY Ref
Unlimited Tax
5.0% due March 15, 2024		285,000		324,925		342,539		285,000		330,726		359,331
Triborough Bridge & Tunnel Authority NY
General Purpose Revs
(Escrowed to Maturity)
5.5% due January 1, 2017		-		-		-		105,000		104,680		108,489
Starpoint NY Central School District
Ref Unlimited Tax
5.0% due June 15, 2020		250,000		271,445		278,823		250,000		278,288		290,977
Plainview Old Bethpage New York Central
School District Ref Unlimited Tax
5.0% due December 15, 2020		250,000		263,443		285,598		250,000		267,143		298,428
Riverhead NY Limited Tax
4.0% due June 1, 2021		1,005,000		1,067,715		1,110,304		1,005,000		1,083,036		1,147,599
Longwood, NY School District
5.0% due March 15, 2019		185,000		198,931		198,931		185,000		206,364		207,137

The accompanying notes are an integral part of these financial statements.

7

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2017 and 2016

	2017									2016
	Principal Amount		Amortized Cost		Fair Value					Principal Amount		Amortized Cost		Fair Value
Revenue Backed Bonds (continued)
Middele CTRY NY Central
School District
5.0% due August 1, 2020	$	150,000	$	168,467	$	167,468				$	150,000	$	174,135	$	175,452
Schenectady Cntry NY Various
Limited Tax
5.0% due December 15, 2020		800,000		902,807		907,224					800,000		931,128		945,792
Schnectady CNTY NY Various Purpose
Limited Tax
5.0% due December 15, 2022		300,000		353,794		356,052					300,000		363,349		372,738
Harrison NY Ref Public Lmpt
Limited tax
5.0% due December 15, 2023		100,000		125,948		121,909					100,000		125,729		125,510
Saint Lawrence Ccntry NY Ref
Limited Tax
5.0% due on May 15, 2026		105,000		123,732		124,758					105,000		125,803		130,778
Laurens NY Central School District
5.0% due July 15, 2030		305,000		335,965		340,432					305,000		339,773		356,841
		26,820,000		29,725,715		30,664,753					23,100,000		25,326,442		26,977,771
						81.6	%	(	*)						69.3	%	(	*)
Short Term Bonds
City of New York Transitional
Fin Bldg Aid Rev Fiscal 2007
5.0% due July 15, 2016		-		-		-					750,000		751,604		757,080
N.Y.S. Local Govt Assistance Corp Ref:
5.5% due April 1, 2017		-		-		-					115,000		114,609		119,629
N.Y.S. Local Govt Assistance Corp Ref:
5.5% due April 1, 2017		-		-		-					340,000		356,683		353,685
Commonwealth of Puerto Rico
Highway Transportation Auth Rev Ref
6.25% due July 1, 2016		-		-		-					175,000		176,697		176,190
		-		-		-					1,380,000		1,399,593		1,406,584
						0.0	%	(	*)						3.6	%	(	*)
Pre-Refunded Bonds
N.Y.S. Dormitory Authority Revs
Non St Supported Debt Sch Dist Fing Prog
(Par Call October 1, 2017 @100)
5.0% due October 1, 2018		-		-		-					430,000		435,318		456,182
N.Y.S. Dormitory Authority Revs
Non St Supported Debt Sch Dist Fing Prog
(Par Call October 1, 2017 @100)
5.0% due October 1, 2019		-		-		-					585,000		591,521		620,620
Commonwealth of Puerto Rico
Highway Transportation Auth Rev Ref
Pre-Refunded
6.25% due July 1, 2016		-		-		-					10,000		12,157		10,100
City of New York NY Municipal Water
Fin Auth Wtr. & Sewer Rev Fiscal 2009
(Par Call June 15, 2018 @100)
5.625% due June 15, 2024		1,000,000		997,534		1,053,510					1,000,000		996,201		1,104,110
N.Y.S Dormitory Authority
Revs. Nonst. Supported debt
(Par Call July 1, 2018 @100)
5.0% due July 1, 2029		300,000		300,000		314,269					300,000		300,000		327,283
		1,300,000		1,297,534		1,367,779					2,325,000		2,335,197		2,518,295
						3.6	%	(	*)						6.5	%	(	*)
	$	33,275,000	$	36,298,626	$	37,671,055				$	32,635,000	$	35,061,465	$	37,443,486
						100.3	%	(	*)						96.1	%	(	*)

(*) Represents Percentage of Net Assets

(a) Position unsettled as of April 30, 2017

The accompanying notes are an integral part of these financial statements.

8

Tridan Corp.

Statements of Operations

Years Ended April 30, 2017 and 2016

	2017			2016
Investment income
Interest	$	1,596,901		$	1,637,837
Amortization of bond premium and discount - net		(514,417	)		(463,937	)
Total investment income		1,082,484			1,173,900
Expenses
Investment advisory fees		105,585			107,267
Custodian fees		7,729			7,618
Professional fees		132,485			131,370
Directors' fees		68,000			77,000
Administrative and accounting		72,000			72,000
Insurance and other expenses		14,755			15,853
Total expenses		400,554			411,108
Net investment income		681,930			762,792
Realized and unrealized gain on investments
Net realized gain (loss) on investments		18,097			(6,015	)
Net unrealized (depreciation) appreciation on investments		(1,009,598	)		266,290
Net realized and unrealized (loss) gain on investments		(991,501	)		260,275
Net (decrease) increase in net assets resulting from operations	$	(309,571	)	$	1,023,067

The accompanying notes are an integral part of these financial statements.

9

Tridan Corp.

Statements of Changes in Net Assets

Years Ended April 30, 2017, 2016 and 2015

	2017			2016			2015
Change in net assets resulting from operations
Net investment income	$	681,930		$	762,792		$	805,921
Net realized (loss) gain on investments		18,097			(6,015	)		14,623
Unrealized (depreciation) appreciation on investments		(1,009,598	)		266,290			(124,175	)
Net (decrease) increase in net assets resulting from operations		(309,571	)		1,023,067			696,369
Distributions to shareholders from
Net investment income		(676,878	)		(773,215	)		(785,471	)
Capital gains		-			-			(18,876	)
Redemptions of shares
31,341.4235 shares, 2,252.8695 shares and 432.5775 shares, respectively		(389,887	)		(28,206	)		(5,417	)
Total increase (decrease)		(1,376,336	)		221,646			(113,395	)
Net assets
Beginning of year		38,951,573			38,729,927			38,843,322
End of year	$	37,575,237		$	38,951,573		$	38,729,927

The accompanying notes are an integral part of these financial statements.

10

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

1. Significant Accounting Policies

The following is a summary of the significant accounting policies followed by Tridan Corp. (the "Company"), a closed‑end, non‑diversified management investment company, registered under the Investment Company Act of 1940.

Basis of Presentation

The accompanying financial statements are prepared in conformity with U.S. generally acceptedaccounting principles (“GAAP”). The Company is considered an investment company under GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification 946, Financial Services - Investment Companies.

Acquisition and Valuation of Investments

Investment transactions are accounted for on the date the securities are purchased/sold (trade date) and interest on securities acquired/sold is included in income from/to the settlement date. Short-term investments are stated at cost, which is equivalent to fair value.

Fair values for the Company's investments in municipal obligations have been determined based on the bid price of the obligation. Securities for which quotations are not readily available are valued at fair value as determined by the board of directors. There were no securities valued by the board of directors, for which quotations were not readily available, as of April 30, 2017 and 2016.

Amortization of Bond Premium or Discount

In determining investment income, bond premiums or discounts are amortized over the remaining term of the obligation.

Income Taxes

It is the Company's policy to comply with the requirements of the Internal Revenue Code that are applicable to regulated investment companies and to distribute substantially all of its taxable income to its shareholders. The Company also intends to distribute sufficient net investment income and net capital gains, if any, so that it will not be subject to excise tax on undistributed income and gains. Therefore, no income tax provision would be required.

The Company recognizes the tax benefits of uncertain tax positions only where the position is “more likely than not” to be sustained assuming examination by tax authorities. Management has analyzed the Company’s tax positions and has concluded that no liability for unrecognized tax benefits should be recorded. The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months.

11

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

The Company identifies its major tax jurisdictions as U.S. Federal, New York State and New York City where the Company makes significant investments. Generally, the Company’s tax returns are subject to examination by Federal, state and local authorities for a period of three years from the later of the due date of such returns or the actual date the returns were filed.

Interest income from municipal investments is exempt from Federal and state income taxes.

Distributions to Shareholders

Dividends to shareholders from net investment income, if any, are paid quarterly. Distribution of capital gains, if any, are made at least annually, and as required to comply with Federal excise tax requirements. Dividends to shareholders are determined in accordance with tax regulations and are recorded on the ex-dividend date.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of 90 days or less to be cash equivalents.

Use of Estimates

The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Significant estimates are used in determining the fair value of investments.

Concentration of Credit Risk

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and investments. The Company maintains all of its cash on deposit in one financial institution. At April 30, 2017, there were no cash and cash equivalents held in excess of federally insured limits. The value of the Company's investments may be subject to possible risks involving, among other things, the continued creditworthiness of the various state and local government agencies and public financing authorities underlying its investments.

12

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

Fair value of Financial Instruments

The carrying amounts for accrued interest receivables and accrued liabilities reflected in the financial statements approximate fair value because of the short maturities of these items. The Company accounts for its investments in municipal obligations in accordance with the accounting guidance for investment companies (FASB ASC 946). See Note 1 “Acquisition and Valuation of Investments” for a description of the valuation methodology which is unchanged as of April 30, 2017 and 2016. FASB ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, establishes a fair value hierarchy based on the inputs used to measure fair value and expands disclosures about the use of fair value measurements. The valuation techniques required by FASB ASC 820 are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions.

The levels of the fair value hierarchy are as follows:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that a company has the ability to access.

Level 2 – Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument in an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risks, yield curves, default rates, and similar data.

Level 3 – Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing a company’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

The Company’s investments in municipal obligations are all considered Level 2 instruments.

The following table presents the Company’s financial assets that are measured at fair value as of April 30, 2017 and 2016:

	Quoted Prices for Identical Instruments in Non-active Markets (Level 2)
	April 30,
	2017		2016
Investments in municipal obligations	$	37,671,055	$	37,443,486
Total investments at fair value	$	37,671,055	$	37,443,486

13

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

The Company utilizes quoted market prices for it securities owned, when available. Instruments classified as Level 2 are valued using industry-standard models or other valuation methodologies calibrated to observable market inputs. These models consider various assumptions regarding the security or securities with similar characteristics, such as trade data, bid price or spread, two sided markets, quotes, benchmark curves, and market data feeds, as well as other measurements.

2. Cash and Cash Equivalents

Cash and cash equivalents consist of the following:

	April 30,
	2017		2016
Cash and cash equivalents	$	109,968	$	1,094,211

3. Accrued Liabilities

Accrued liabilities consist of the following at:

	April 30,
	2017		2016
Accrued investment advisory and custodian fees (a)	$	38,264	$	39,733
Accrued fees - affiliate (b)	$	18,977	$	18,721
Accrued other:
Accrued audit fees (c)	$	12,125	$	11,750
Accrued administrative and accounting expenses		18,523		430
	$	30,648	$	12,180

(a) The Company utilizes the services of J.P. Morgan Investment Management, Inc. as its investment advisor and J.P. Morgan Chase Bank N.A. as its custodian for its investments. The annual advisory fee is .28 of one percent and the custody fee is .02 of one percent of the net assets under management. The fee is computed and payable quarterly, based on the aggregate fair value of the net assets on the last day of each fiscal quarter.

(b) For the years ending April 30, 2017 and 2016, the Company incurred legal fees of approximately $84,000 and $84,000, respectively, for professional fees paid to the law firm of which an officer of the Company is a member.

(c) For the years ending April 30, 2017 and 2016, the Company incurred audit fees of approximately $48,000 and $47,000, respectively.

14

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

4. Investment Transactions

Purchases and sales of investments in municipal obligations (excluding short-term and demand investments) amounted to approximately $6,468,000 and $4,734,000, respectively, for the year ended April 30, 2017, and $2,286,000 and $2,880,000, respectively, for the year ended April 30, 2016.

The U.S. Federal income tax basis (aggregate cost) of the Company’s investments, at April 30, 2017 and 2016, was approximately $36,299,000 and $35,061,000, respectively, and net unrealized appreciation, at April 30, 2017 and 2016, for U.S. Federal income tax purposes was approximately $1,372,000 and $2,382,000, respectively (gross unrealized appreciation of approximately $1,480,000 and $2,389,000, respectively; gross unrealized depreciation of approximately $108,000 and $7,000, respectively).

5. Common Stock, Share Redemption Plan and Net Asset Values

At April 30, 2017 and 2016, there were 6,000,000 shares of $0.02 par value common stock authorized of which 3,199,100 had been issued aggregating $63,982.

The Company has a share redemption plan applicable to 26,168 shares and 28,179 shares, respectively, of outstanding common stock, at April 30, 2017 and 2016. The plan permits eligible shareholders or their estates to have their shares redeemed upon reaching age 65 or upon death. Shares are redeemed at the net asset value per share, as of the end of the Company's fiscal quarter in which the request for redemption is received. At April 30, 2017 and 2016, 110,149.3483 shares ($1,309,598) and 108,138.8113 shares ($1,284,587), respectively, have been redeemed under this plan.

The net asset value per share is calculated by dividing the aggregate fair value of all assets less the aggregate fair value of all liabilities by the number of common shares outstanding at the end of the period.

The net asset values per share and the shares outstanding are as follows:

	April 30,
	2017		2016
Net asset value	$	12.28	$	12.60
Shares outstanding at:
April 30, 2017		3,059,619.7652
April 30, 2016		3,090,961.1887

15

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

6. Distributions

During the years ended April 30, 2017, 2016 and 2015, distributions of $676,878 ($.22 per share), $773,215 ($.25 per share) and $804,347 ($.26 per share), respectively, were declared and paid to shareholders, substantially all of which were exempt from Federal income taxes.

The tax character of distributions paid during the years ending April 30, 2017, 2016 and 2015 is as follows:

	2017		2016		2015
Distributions paid from investment income:
Tax-exempt investment income, net	$	676,878	$	773,215	$	785,471
Capital gains		-		-		18,876
	$	676,878	$	773,215	$	804,347

As of April 30, 2017, 2016 and 2015, the components of distributable earnings on a tax basis are as follows:

	2017			2016			2015
Over-distributed tax-exempt investment income, net	$	(10,843	)	$	(15,895	)	$	(5,472	)
Over-distributed taxable investment income		-			-			-
Over-Undistributed capital gains (losses)		7,830			(10,267	)		(4,252	)
Unrealized appreciation of investments, net		1,372,428			2,382,026			2,115,736
	$	1,369,415		$	2,355,864		$	2,106,012

Capital loss carryforwards as of April 30, 2017 and 2016 were $0 and $10,267, respectively. The Company had no capital reclassification related to permanent book/tax differences for years ending April 30, 2017, 2016 and 2015. There were no significant differences between total GAAP basis net investment income and net realized gain, and actual distributions for the years ended April 30, 2017 and 2016.

16

Tridan Corp.

Notes to Financial Statements

April 30, 2017 and 2016

7. Financial Highlights

Selected per share data and ratios are as follows:

	For the Years Ended April 30,
	2017			2016			2015			2014			2013
Per share operating performance:
(For a share of common stock outstanding throughout the year):
Net asset value, beginning of year	$	12.60		$	12.52		$	12.56		$	12.88		$	12.89
Income from investment operations:
Net investment income		.22			.25			.26			.26			.28
Net realized and unrealized gain (loss) on investments		(.32	)		.08			(.04	)		(.26	)		(.01	)
Total from investment operations		(.10	)		.33			.22			-			.27
Less distributions:
Dividends (from net investment income)		(.22	)		(.25	)		(.25	)		(.27	)		(.28	)
Capital gains		(.00	)		(.00	)		(.01	)		(.06	)		(.00	)
Total distributions		(.22	)		(.25	)		(.26	)		(.33	)		(.28	)
Net asset value - end of year	$	12.28		$	12.60		$	12.52		$	12.56		$	12.88
Per share value - end of year	$	12.28		$	12.60		$	12.52		$	12.56		$	12.88
*Total investment return		(0.80	)%		2.64	%		1.75	%		0.00	%		2.10	%
Ratios/Supplemental Data:
Net assets, end of year (in 000s)	$	37,575		$	38,952		$	38,730		$	39,843		$	39,884
Ratio of expenses to average net assets		1.05	%		1.06	%		1.06	%		1.05	%		1.04	%
Ratio of net investment income to average net assets		1.78	%		1.96	%		2.08	%		2.06	%		2.20	%
Portfolio turnover rate		12.37	%		5.91	%		9.41	%		12.41	%		4.87	%
Average (simple) number of shares outstanding (in thousands)		3,075			3,092			3,093			3,095			3,099

* Total investment return is calculated by dividing the change in market value of a share of common stock during the year, assuming the reinvestment of dividends on the payment date, by the per share market value at the beginning of the year and has been recalculated for all prior periods presented.

17

Item 2. Code of Ethics

The registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other person required by applicable SEC rules.  The code of ethics was in effect as of the end of the period covered by this report.  During that period, there were no amendments to the code, and no waivers were granted to anyone from any provision of the code.  A copy of the registrant’s code of ethics is annexed as Exhibit 1 to the registrant’s Form N-CSR dated June 16, 2016, for its fiscal year ended April 30, 2016, filed with the Securities and Exchange Commission.

Item 3. Audit Committee Financial Expert

The registrant has established an audit committee consisting of three members appointed by the board of directors from the board.  The registrant’s board of directors has determined that the committee chairman, Paul Kramer, is an “audit committee financial expert” and is “independent”, as both terms are defined by applicable SEC rules.

Item 4. Principal Accountant Fees and Services

Incorporated by reference to the registrant’s proxy statement dated June 19, 2017, filed with the SEC.  See section therein entitled “Relationship with and Ratification of Independent Certified Public Accountants”.

Item 5. Audit Committee of Listed Registrants.

Not applicable, because the registrant is not a listed issuer.

Item 6. Investments.

(a) A schedule of registrant’s investments in securities of unaffiliated issuers as of April 30, 2017 is included as part of the report to shareholders filed under Item 1 of this Form.

(b) Not applicable

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable, because the registrant invests exclusively in non-voting securities.

ITEM 8: PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

PORTFOLIO MANAGER

The Managing Director for Tridan Corporation (“Fund”) is as follows:

Richard D. Taormina Richard Taormina, Vice President, is the lead portfolio manager of the Tax Aware Strategies Group.  An employee of J.P. Morgan Investment Management Inc. since 1997, he is responsible for managing municipal mutual funds, institutional fixed income accounts, and quantitative analysis.

 PORTFOLIO MANAGER’S OTHER ACCOUNTS MANAGED

The following tables show information regarding other accounts managed by the portfolio manager of the Fund:

	Non-Performance Based Fee Advisory Accounts
	Registered Investment Companies				Other Pooled Investment Vehicles				Other Accounts
	Number of Accounts		Total Assets		Number of Accounts		Total Assets		Number of Accounts		Total Assets
Richard Taormina		7	$	6,780,281,000		0	$	0		2	$	1,227,373,000

	Performance Based Fee Advisory Accounts
	Registered Investment Companies				Other Pooled Investment Vehicles					Other Accounts
	Number of Accounts		Total Assets		Number of Accounts		Total Assets			Number of Accounts		Total Assets
Richard Taormina		0	$	0		0		$	0		0		$	0

POTENTIAL CONFLICTS OF INTEREST

The potential for conflicts of interest exists when portfolio managers manage other accounts with similar investment objectives and strategies as the Fund (“Similar Accounts”). Potential conflicts may include, for example, conflicts between investment strategies and conflicts in the allocation of investment opportunities.  Responsibility for managing the Advisor’s and its affiliates’ clients’ portfolios is organized according to investment strategies within asset classes. Generally, client portfolios with similar strategies are managed by portfolio managers in the same portfolio management group using the same objectives, approach and philosophy.  Underlying sectors or strategy allocations within a larger portfolio are likewise managed by portfolio managers who use the same approach and philosophy as similarly managed portfolios. Therefore, portfolio holdings, relative position sizes and industry and sector exposures tend to be similar across similar portfolios and strategies, which minimizes the potential for conflicts of interest.

The Advisor and/or its affiliates (“JPMorgan Chase”) perform investment services, including rendering investment advice, to varied clients. The Advisor, JPMorgan Chase and its or their directors, officers, agents, and/or employees may render similar or differing investment advisory services to clients and may give advice or exercise investment responsibility and take such other action with respect to any of its other clients that differs from the advice given or the timing or nature of action taken with respect to another client or group of clients. It is the Advisor’s policy, to the extent practicable, to allocate, within its reasonable discretion, investment opportunities among clients over a period of time on a fair and equitable basis. One or more of the Advisor’s other client accounts may at any time hold, acquire, increase, decrease, dispose, or otherwise deal with positions in investments in which another client account may have an interest from time-to-time.

The Advisor, JPMorgan Chase, and any of its or their directors, partners, officers, agents or employees, may also buy, sell, or trade securities for their own accounts or the proprietary accounts of the Advisor and/or JPMorgan Chase. The Advisor and/or JPMorgan Chase, within their discretion, may make different investment decisions and other actions with respect to their own proprietary accounts than those made for client accounts, including the timing or nature of such investment decisions or actions. Further, the Advisor is not required to purchase or sell for any client account securities that it, JPMorgan Chase, and any of its or their employees, principals, or agents may purchase or sell for their own accounts or the proprietary accounts of the Advisor, or JPMorgan Chase or its clients.

The Advisor and/or its affiliates may receive more compensation with respect to certain Similar Accounts than that received with respect to the Fund or may receive compensation based in part on the performance of certain Similar Accounts. This may create a potential conflict of interest for the Advisor and its affiliates or the portfolio managers by providing an incentive to favor these Similar Accounts when, for example, placing securities transactions. In addition, the Advisor or its affiliates could be viewed as having a conflict of interest to the extent that the Advisor or an affiliate has a proprietary investment in Similar Accounts, the portfolio managers have personal investments in Similar Accounts or the Similar Accounts are investment options in the Advisor’s or its affiliates’ employee benefit plans. Potential conflicts of interest may arise with both the aggregation and allocation of securities transactions and allocation of investment opportunities because of market factors or investment restrictions imposed upon the Advisor and its affiliates by law, regulation, contract or internal policies. Allocations of aggregated trades, particularly trade orders that were only partially completed due to limited availability and allocation of investment opportunities generally, could raise a potential conflict of interest, as the Advisor or its affiliates may have an incentive to allocate securities that are expected to increase in value to favored accounts. Initial public offerings, in particular, are frequently of very limited availability. The Advisor and its affiliates may be perceived as causing accounts they manage to participate in an offering to increase the Advisor’s and its affiliates’ overall allocation of securities in that offering. A potential conflict of interest also may be perceived to arise if transactions in one account closely follow related transactions in a different account, such as when a purchase increases the value of securities previously purchased by another account, or when a sale in one account lowers the sale price received in a sale by a second account. If the Advisor or its affiliates manage accounts that engage in short sales of securities of the type in which the Fund invests, the Advisor or its affiliates could be seen as harming the performance of the Fund for the benefit of the accounts engaging in short sales if the short sales cause the market value of the securities to fall.

As an internal policy matter, the Advisor or its affiliates may from time to time maintain certain overall investment limitations on the securities positions or positions in other financial instruments the Advisor or its affiliates will take on behalf of its various clients due to, among other things, liquidity concerns and regulatory restrictions. Such policies may preclude the Fund from purchasing particular securities or financial instruments, even if such securities or financial instruments would otherwise meet the Fund’s objectives.

The goal of the Advisor and its affiliates is to meet their fiduciary obligation with respect to all clients. The Advisor and its affiliates have policies and procedures that seek to manage conflicts. The Advisor and its affiliates monitor a variety of areas, including compliance with fund guidelines, review of allocation decisions and compliance with the Advisor’s Codes of Ethics and JPMorgan Chase and Co.’s Code of Conduct. With respect to the allocation of investment opportunities, the Advisor and its affiliates also have certain policies designed to achieve fair and equitable allocation of investment opportunities among its clients over time. For example: Orders for the same equity security traded through a single trading desk or system are aggregated on a continual basis throughout each trading day consistent with the Advisor’s and its affiliates’ duty of best execution for their clients. If aggregated trades are fully executed, accounts participating in the trade will be allocated their pro rata share on an average price basis. Partially completed orders generally will be allocated among the participating accounts on a pro-rata average price basis, subject to certain limited exceptions. For example, accounts that would receive a de minimis allocation relative to their size may be excluded from the order. Another exception may occur when thin markets or price volatility require that an aggregated order be completed in multiple executions over several days. If partial completion of the order would result in an uneconomic allocation to an account due to fixed transaction or custody costs, the Advisor and its affiliates may exclude small orders until 50% of the total order is completed. Then the small orders will be executed. Following this procedure, small orders will lag in the early execution of the order, but will be completed before completion of the total order.

Purchases of money market instruments and fixed income securities cannot always be allocated pro-rata across the accounts with the same investment strategy and objective. However, the Advisor and its affiliates attempt to mitigate any potential unfairness by basing non-pro rata allocations traded through a single trading desk or system upon objective predetermined criteria for the selection of investments and a disciplined process for allocating securities with similar duration, credit quality and liquidity in the good faith judgment of the Advisor or its affiliates so that fair and equitable allocation will occur over time.

PORTFOLIO MANAGER COMPENSATION

The Adviser’s portfolio managers participate in a competitive compensation program that is designed to attract, retain and motivate talented people and closely link the performance of investment professionals to client investment objectives. The Adviser manages compensation on a total compensation basis, the components being base salary fixed from year to year and a variable discretionary incentive award. Base salaries are reviewed annually and awarded based on individual performance and business results taking into account level and scope of position, experience and market competitiveness. The variable discretionary performance based incentive award consists of cash incentives and deferred compensation which includes mandatory notional investments (as described below) in selected mutual funds advised by the Adviser or its affiliates (“Mandatory Investment Plan”). These elements reflect individual performance and the performance of the Advisor’s business as a whole. Each portfolio manager’s performance is formally evaluated annually based on a variety of factors including the aggregate size and blended performance of the portfolios such portfolio manager manages, individual contribution relative to client risk and return objectives, and adherence with the Advisor’s compliance, risk and regulatory procedures. In evaluating each portfolio manager’s performance with respect to the mutual funds he or she manages, the pre-tax performance of the funds (or the portion of the funds managed by the portfolio manager) is compared to the appropriate market peer group and to the competitive indices the Advisor has identified for the investment strategy over one, three and five year periods (or such shorter time as the portfolio manager has managed the funds). Investment performance is generally more heavily weighted to the long-term.

Deferred compensation granted as part of an employee’s annual incentive compensation comprises from 0% to 60% of a portfolio manager’s total performance based incentive. As the level of incentive compensation increases, the percentage of compensation awarded in deferred incentives also increases. The Advisor’s portfolio managers are required to notionally invest a certain percentage of their deferred compensation (typically 20% to 50% depending on the level of compensation) into the selected funds they manage.  The remaining portion of the non-cash incentive is elective and may be notionally invested in any of the other mutual funds available in the Mandatory Investment Plan or can be placed in restricted stock.   When these awards vest over time, the portfolio manager receives cash equal to the market value of the notional investment in the selected mutual funds.

OWNERSHIP OF SECURITIES

	Dollar Range of Shares in the Fund
Name	None	$1 - $10,000	$10,001 - $50,000	$50,001 - $100,000	over $100,000
Richard Taormina	X X

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable, because the registrant has no equity securities that are registered pursuant to Section 12 of the Securities Exchange Act of 1934.

Item 10. Submission of Matters to a Vote of Security Holders.

The registrant does not have in place procedures by which shareholders may recommend nominees to the registrant’s board of directors.

Item 11. Controls and Procedures

(a) The registrant’s principal executive and principal financial officers have evaluated the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c)) as of the end of the period covered by this report.  Based on that evaluation, said officers have concluded that the registrant’s disclosure controls and procedures are effective to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported within the required time periods.

(b) There was no change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits

(a) The following exhibits are filed herewith:

(1) The registrant’s code of ethics described in Item 2 hereof is Incorporated by reference to Exhibit 1 to the registrant’s Form N-CSR dated June 16, 2016 for its fiscal year ended April 30, 2016, filed with the Securities and Exchange Commission.

(2) The separate certifications for the registrant’s principal executive and principal financial officers.

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Tridan Corp.

By (Signature and Title)	/S/ Peter Goodman
	Peter Goodman, President and Chief Executive Officer

Date: June 15, 2017

Pursuant to the requirements of the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)	/S/ Peter Goodman
	Peter Goodman, President and Chief Executive Officer

Date: June 15, 2017

/S/ Mark Goodman

Mark Goodman, Treasurer and Chief Financial Officer

Date: June 15, 2017