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 Sichenzia Ross Ference LLP

1185 Avenue of the Americas, 37^th floor, New York, NY 10036

(Address of principal executive offices)

c/o Sichenzia Ross Ference LLP

1185 Avenue of the Americas, 37^th floor, New York, NY 10036

(Name and address of agent for service)

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

Date of fiscal year end:	April 30, 2019
Date of reporting period:	April 30, 2019

Item 1. Reports to Stockholders.

Attached on the following pages is a copy of the registrant’s annual report as of April 30, 2019 transmitted to stockholders.

TRIDAN CORP.

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

(212) 239-0515

ANNUAL REPORT

June 28, 2019

Dear Shareholder:

I am pleased to provide this annual report of Tridan Corp. for the fiscal year ended April 30, 2019, including the enclosed audited financial report for that period and for the corresponding period in 2018.  Also enclosed are the notice of meeting, proxy statement for this year’s annual shareholders meeting on July 16, 2019, form of proxy, and the company’s privacy policy.

A schedule of the company’s portfolio holdings at April 30, 2019, 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, 2019 was $12.18, compared with $11.91 at April 30, 2018.  Net investment income per share was $.18, for the year ended April 30, 2019, compared with $.19 for the year ended April 30, 2018.  Distributions to shareholders amounted to $.19 per share for fiscal 2019, compared to $.20 for fiscal 2018.

At the company’s last annual meeting on July 17, 2018, the reappointment of Mazars USA LLP as the company’s auditors for the fiscal year ending April 30, 2019 was ratified by the shareholders as follows:

Shares Voted For	2,936,745.3928
Shares Voted Against	10.0000
Shares Abstaining	None

Also at the last annual meeting on July 17, 2018, 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.

TRIDAN CORP.

June 28, 2019

Page – 2 –

	Shares Voted For		Shares Withheld
Peter Goodman		2,936,755.3928		----
Mark Goodman		2,936,755.3928		----
Paul Kramer		2,936,449.9583		305.4345
Russell J. Stoever		2,936,449.9583		305.4345
Joan G. Rall		2,936,449.9583		305.4345
Warren Pelton*		2,936,755.3928		----

*Warren Pelton passed away on December 7, 2018.  At the meeting of the Board of Directors held on March 7, 2019, consideration was given to the vacancy on the Board of Directors created by the death of Warren Pelton.  Prior to his death, the company functioned with six directors.  No action was taken to add an additional member to the Board of Directors to replace Mr. Pelton.

Mr. Pelton was also the company’s Vice President and Treasurer at the time of his death.  At the meeting of the Board of Directors held on March 7, 2019, after discussion of the need to fill the vacancy in these offices, Mark Goodman was elected as Vice President and Treasurer of the company.

The following Tables A and B set forth information concerning the directors, 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 (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:
Peter Goodman 65 Wendover Road Rye, NY  10580 Age 93	Director and President	1980	President, Tridan Corp.		1	None
Mark Goodman (Son of Peter Goodman) 7 Porters Cove Road Hingham, MA 02043 Age 65	Director	1999	Pianist and Teacher		1	None

TRIDAN CORP.

June 28, 2019

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 Directorships During Past 5 Years
Disinterested Persons:
Paul Kramer 330 East 33rd Street, #20C New York, NY 10016 Age 87	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 65	Director and Audit Committee Member	2017	Partner, Ernst & Young LLP (certified public Accountants)		1	None
Russell Jude Stoever 15 Rockleigh Road Rockleigh, NJ 07647 Age 74	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:
Robert Birnbaum 1185 Avenue of the Americas New York, NY 10036 Age 82	Secretary and Chief Compliance Officer	Attorney	None	None

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.

TRIDAN CORP.

June 28, 2019

Page – 4 –

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 has been a director since June 15, 2017.  She 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.

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 (except Warren Pelton, who received $6,000), 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.

TRIDAN CORP.

June 28, 2019

Page – 5 –

All executive officers of the Company as a group (two persons) received compensation (comprised solely of said directors' fees) aggregating $24,000 during fiscal 2018 (which excludes professional fees paid to the law firm where Robert Birnbaum, secretary of the Company, is of counsel).

Additional information about directors may be requested by any shareholder without charge, by telephoning the company’s secretary, Robert Birnbaum, collect at 212-930-9700, extension 889.

Sincerely

TRIDAN CORP.

/s/ Peter Goodman

Peter Goodman, President

Tridan Corp.

Financial Statements

April 30, 2019 and 2018

Tridan Corp.

Contents

April 30, 2019 and 2018

	Page(s)
Report of Independent Registered Public Accounting Firm	1
Financial Statements
Statements of Assets and Liabilities April 30, 2019 and 2018	2
Schedules of Investments in Municipal Obligations April 30, 2019 and 2018	3-8
Statements of Operations Years Ended April 30, 2019 and 2018	9
Statements of Changes in Net Assets Years Ended April 30, 2019, 2018 and 2017	10
Notes to Financial Statements	11-17

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Directors of Tridan Corp.

Opinion on the Financial Statements and Financial Highlights

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, 2019 and 2018, 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, 2019, and the financial highlights for each of the five years in the five-year period ended April 30, 2019, and the related notes, collectively referred to as the “financial statements and financial highlights”). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Company as of April 30, 2019 and 2018, 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, 2019, and financial highlights for each of the five years in the five-year period ended April 30, 2019, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company’s financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchanges Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights and other data are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our procedures included confirmation of securities owned, as of April 30, 2019 and 2018, by correspondence with the custodian. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Company’s auditor since 1980.

New York, New York

June 21, 2019

Tridan Corp.

Statements of Assets and Liabilities

April 30, 2019 and 2018

	2019			2018
Assets
Investments in municipal obligations, at fair value (original cost - $36,815,003 and $37,205,662, respectively) (amortized cost - $34,537,862 and 34,987,118, respectively)	$	35,583,277		$	35,208,242
Cash and cash equivalents		1,252,763			740,959
Accrued interest receivable		466,848			532,203
Total assets		37,302,888			36,481,404
Liabilities
Accrued liabilities:
Accrued investment advisory and custodian fees		38,563			38,264
Accrued fees - affiliate		18,727			19,174
Accrued other		12,490			13,870
Common stock redemption payable		11,970			7,205
Total liabilities		81,750			78,513
Net assets	$	37,221,138		$	36,402,891
Analysis of net assets
Common stock, at $.02 par value, 6,000,000 shares authorized, 3,199,100 shares issued at April 30, 2019 and 2018	$	63,982		$	63,982
Paid-in capital		37,816,314			37,816,314
Treasury stock, 143,642.8478 shares and 141,346.4988 shares at April 30, 2019 and 2018, respectively		(1,724,450	)		(1,697,081	)
Distributable earnings:
Undistributed (Overdistributed) net investment income		5,025			(1,445	)
Undistributed capital gains		14,856			-
Unrealized appreciation of investments, net		1,045,411			221,121
Net assets [equivalent to $12.18 and $11.91 per share, respectively,based on 3,055,457.1522 shares and 3,057,753.5012 shares of common stock outstanding, respectively]	$	37,221,138		$	36,402,891

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

2

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2019 and 2018

	2019						2018
	Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
New York Municipal Bonds
N.Y.S. Dormitory Authority Revs
Non St Supported Debt St Johns University - Insured Series C
5.25% due July 1, 2021	$	1,000,000	$	1,018,357	$	1,074,090	$	1,000,000	$	1,026,691	$	1,092,690
Met Transportation Authority
NY Revenue Transportation Climate Bond A 2 Agm Credit
5.0% due November 15, 2027		300,000		348,947		354,573		-		-		-
New York New York City Transitional Future
Tax Secured Subordinated Series E 1
(Par Call February 1, 2026)
5.25% due February 1, 2031		1,000,000		1,175,265		1,179,340		-		-		-
NY St Urban Development Corporation Revenue
Revenue St Personal Income Tax Series A
5.0% due March 15, 2031		750,000		872,748		901,432		-		-		-
NYS Dormitory Authority Revenues
Non School Dists Bond Financing Program Series A
(Par Call October 1, 2026)
5.0% due October 1, 2033		1,000,000		1,134,896		1,187,900		-		-		-
New York St Dormitory Authority Sales Tax
Revenue St Supporteducation Debt Series C
5.0% due March 15, 2035		1,250,000		1,450,368		1,508,700		-		-		-
Triborough Bridge And Tunnel Authority N
General Mta Bridges And Tunnels
5.0% due November 15, 2035		1,015,000		1,167,548		1,208,104		-		-		-
Erie County NY Fiscal
Stability Sales Tax And St Aid Secured Series A
5.0% due June 15, 2024		165,000		192,640		192,869		165,000		198,029		190,189
Metropolitan Transportation Authority New York
Refunding Transportation Climate Bond Cerified
5.0% due November 15, 2027		1,250,000		1,504,459		1,524,788		1,250,000		1,534,209		1,475,300
Erie County NY Fiscal
Stability Sales Tax And St Aid Secured Series A
(Par Call June 15, 2027)
5.0% due June 15, 2029		1,000,000		1,196,753		1,230,070		1,000,000		1,220,958		1,188,350
Brookhaven New York Refunding
4.00% due March 15, 2023		1,000,000		1,108,815		1,098,350		1,000,000		1,136,687		1,082,190
Saratoga County NY
Refunding Public Improvement
5.00% due July 15, 2023		100,000		119,176		114,386		100,000		122,933		114,060
New York New York City Trust Cultural Museum
Modern Art Series 1 E
4.00% due February 01, 2023		400,000		441,747		437,532		400,000		452,837		432,088

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

3

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2019 and 2018

	2019						2018
	Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Brookhaven New York Refunding
5.00% due March 15, 2025	$	500,000	$	587,922	$	598,740	$	500,000	$	602,876	$	582,555
Erie County New York Industrial Development Agency
School Refunding City School District Buffalo Project
5.00% due May 01, 2025		750,000		904,218		895,815		750,000		927,633		875,970
New York New York City Trust Cultural
Museum Modern Art Series 1 E
4.00% due April 01, 2026		500,000		573,252		577,545		500,000		584,183		553,540
New York St Environmental Facilities
Subordinated Revolving Fds Series A
5.00% due June 15, 2026		1,300,000		1,514,627		1,600,157		1,300,000		1,544,711		1,544,803
Utility Debt Securitization Restructuring Series A
5.00% due December 15, 2026		500,000		567,601		589,290		500,000		580,645		578,120
Bethlehem NY Central School District
Refunding Series A
4.0% due January 15, 2021		500,000		513,683		520,845		500,000		521,649		525,360
Rockville Centre New York
Refunding Public Improvement
4.0% due June 15, 2022		200,000		215,046		216,050		200,000		218,591		214,508
Rhinebeck NY Central School District
Refunding Series B
(Par Call June 15, 2023)
4.0% due June 15, 2025		535,000		561,748		576,602		535,000		568,214		566,458
New York New York City Municipal Water Finance
2 Nd General Fiscal 2010 Series Bb
(Par Call June 15, 2019 @100)
5.0% due June 15, 2027		500,000		500,390		502,090		500,000		503,418		516,965
New York New York City Transitional Prerefunded Future Tax Secs
(Par Call November 1, 2019 @100):
5.0% due November 1, 2020		500,000		505,879		508,770		500,000		512,027		523,572
5.0% due November 1, 2021		-		-		-		1,000,000		1,020,920		1,047,820
Greece NY Central School District
Refunding Series B
(Par Call December 15, 2022 @100)
5.0% due December 15, 2023		500,000		537,021		557,710		500,000		546,663		556,740
Nassau County New York
General Improvement Series C
(Par Call October 1, 2020 @100)
4.0% due October 1, 2022		550,000		554,575		567,358		550,000		558,639		571,164
N.Y.S. Dormitory Authority
St Personal Income Tax Revenue Refunding Education Series B
5.5% due March 15, 2026		200,000		234,580		248,240		200,000		239,605		241,504

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

4

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2019 and 2018

		2019						2018
		Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
N.Y.S. Dormitory Authority Revenues
St Mental Health Services Facilities A
(Par Call August 15, 2020 @100)
5.0% due August 15, 2023	$	420,000	$	420,542	$	438,005	$	420,000	$	421,522	$	448,690
New York New York Series E
5.0% due August 1, 2023		510,000		519,288		531,405		510,000		526,657		544,139
New York New York Series E
5.0% due August 1, 2026		350,000		350,241		352,958		350,000		350,950		363,433
Port Authority of New York and New Jersey
Consolidated Eighty Fifth Series
5.375% due March 1, 2028		150,000		152,770		177,012		150,000		153,083		174,171
Wantagh NY Union
Free School District Refunding
5.0% due September 1, 2021		550,000		581,441		594,490		550,000		594,847		604,010
Central Islip NY Union Free
School District Refunding
5.0% due July 15, 2022		750,000		817,865		826,470		750,000		838,804		836,070
Syosset NY Central School
District Refunding Series B
5.0% due December 15, 2022		125,000		132,491		140,458		125,000		135,075		140,759
Brentwood NY Union Free School
District Refunding
5.0% due January 15, 2023		430,000		453,026		483,522		430,000		459,826		483,702
Battery Park City Authority New York
Revenue Senior Series A
5.0% due January 15, 2029		140,000		148,193		159,879		140,000		150,418		159,027
Connetquot Central School District New York
District Refunding
5.0% due January 15, 2024		400,000		425,138		464,068		400,000		430,466		456,712
Syosset New York Central School District
Refunding Series B
5.0% due December 15, 2022		435,000		463,438		484,721		435,000		470,089		485,577
5.0% due December 15, 2022		300,000		317,496		333,954		300,000		321,587		334,323
New York New York City Transitional Future Tax
Subordinated Subordinated Series C 1
5.0% due November 1, 2026		550,000		577,458		612,029		550,000		585,276		611,859
Utility Debt Securitization Restructuring Series E
5.0% due December 15, 2028		500,000		526,123		572,990		500,000		532,173		569,075
Western Nassau County New York Water Series A
(Par call April 01, 2025 @ 100)
5.0% due April 01, 2028		100,000		110,887		116,074		100,000		112,723		113,269

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

5

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2019 and 2018

		2019						2018
		Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Tompkins County New York Refunding
Public Improvement Series B
(Par call December 15, 2024 @ 100)
5.0% due December 15, 2027	$	500,000	$	567,407	$	588,950	$	500,000	$	579,367	$	578,120
Gates Chili New York Central School
District Refunding
(Par call June 15, 2025 @ 100)
5.0% due June 15, 2027		200,000		230,394		235,616		200,000		235,348		230,306
Mattituck Cutchogue New York Union Refunding Series A
(Par call July 15, 2025 @ 100)
5.0% due July 15, 2027		365,000		416,933		435,200		365,000		425,287		421,670
Halfmoon New York Refunding Public Improvement
(Par call June 15, 2025 @ 100)
5.0% due June 15, 2027		280,000		319,645		331,282		280,000		326,119		322,820
Putnam County New York Refunding Public Improvement
(Par call January 01, 2026 @ 100)
5.0% due Januyary 01, 2027		135,000		156,367		162,559		135,000		159,546		158,095
Mattituck Cutchogue New York Union Refunding Series A
(Par call July 15, 2025 @ 100)
5.0% due July 15, 2026		280,000		321,751		335,339		280,000		328,468		324,069
Build Nyc Resource Corporation New York
United Jewish Appeal Federation
(Par call July 01, 2024 @ 100)
5.0% due July 01, 2025		320,000		357,592		371,571		320,000		364,516		366,409
Saratoga Springs New York Refunding
Public Improvement
(Par Call February 15, 2023 @ 100)
5.0% due February 15, 2025		225,000		247,891		252,463		225,000		253,211		252,594
Buffalo And Fort Erie New York
Public Bridge Refunding
5.0% due January 01, 2025		410,000		453,928		477,949		410,000		461,626		469,565
Bayport Blue Point New York
Union Free Refunding
5.0% due September 15, 2024		250,000		281,331		295,095		250,000		287,147		288,172
Rensselaer County New York
Refunding Public Improvement
5.0% due September 01, 2024		100,000		120,063		117,918		100,000		122,652		116,075
North Babylon NY UN Free School Dist
(Par call August 1, 2022 @ 100)
5.0% due August 01, 2023		250,000		268,821		276,330		250,000		274,596		278,120
Onondaga County New York Refunding
5.0% due March 15, 2024		285,000		313,323		331,013		285,000		319,124		326,846
Starpoint Central School District New York Refunding
5.0% due June 15, 2020		250,000		257,761		259,845		250,000		264,603		266,288

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

6

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2019 and 2018

		2019						2018
		Principal Amount		Amortized Cost		Fair Value		Principal Amount		Amortized Cost		Fair Value
Plainview Old Bethpage New York Refunding
5.0% due December 15, 2020	$	250,000	$	256,042	$	264,150	$	250,000	$	259,742	$	270,507
Riverhead New York Refunding Public Improvement
4.0% due June 1, 2021		1,005,000		1,037,208		1,054,064		1,005,000		1,052,393		1,063,199
Middle Country Central School District
New York Refunding
5.0% due August 1, 2020		150,000		157,128		156,719		150,000		162,798		160,665
Schenectady County New York Various Purpose
5.0% due December 15, 2020		800,000		846,166		846,344		800,000		874,487		862,848
Schenectady County New York Various Purpose
5.0% due December 15, 2022		300,000		334,685		336,873		300,000		344,240		337,542
Harrison New York Refunding Public Improvement
5.0% due December 15, 2023		100,000		119,266		116,046		100,000		122,607		114,495
St Lawrence County New York Refunding Public Improvement
5.0% due on May 15, 2026		105,000		119,155		123,314		105,000		121,443		120,308
Laurens New York Central School District Refunding
5.0% due July 15, 2030		305,000		328,349		343,137		305,000		332,157		332,581
New York St Dormitory Authority Revenues St Supported Debt City
University System Consolidated 5 Th General A
5.5% due July 1, 2019		1,000,000		1,000,692		1,006,540		1,000,000		1,010,035		1,042,760
N.Y.S. Dormitory Authority Revs
5.5% due May 15, 2018		-		-		-		655,000		653,048		655,884
Sachem Central School District
NY Holbrook Ref Unlimited Tax
5.25% due October 15, 2019		-		-		-		500,000		506,952		524,695
New York St Dormitory Authority St Personal Income
Tax Revenue Refunding Education Series B
(Par Call March 15, 2018 @100)
5.5% due March 15, 2025		500,000		527,306		605,579		500,000		531,948		593,775
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		998,868		1,004,730
N. Y.S. Thruway Authority
St Pers Income Tax Rev Transn
5.25% due March 15, 2019		-		-		-		750,000		755,674		772,470
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		301,624
Build NYC Resource
Corp NY Rev
5.0% due August 1, 2018		-		-		-		135,000		136,383		136,008
Brookhaven NY Unlimited Tax
5.0% due November 15, 2019		-		-		-		450,000		465,490		471,650
NY Bond Bank Agency
SCH Purpose Revenue
5.00% dye December 01, 2019		-		-		-		300,000		319,022		314,745

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

7

Tridan Corp.

Schedules of Investments in Municipal Obligations

April 30, 2019 and 2018

		2019							2018
		Principal Amount		Amortized Cost		Fair Value			Principal Amount		Amortized Cost		Fair Value
Queensbury NY Union Free School
District Ref Unlimited Tax
4.0% due December 15, 2018	$	-	$	-	$	-		$	225,000	$	227,624	$	228,116
Clarkstown NY Central
School District
4.0% due May 15, 2019		-		-		-			500,000		513,486		511,500
Longwood, NY School District
5.0% due March 15, 2019		-		-		-			185,000		191,497		190,229
	$	31,340,000	$	34,537,862	$	35,583,277		$	32,025,000	$	34,987,118	$	35,208,242
(*) Represents Percentage of Net Assets						96	%						97	%

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

8

Tridan Corp.

Statements of Operations

Years Ended April 30, 2019 and 2018

	2019			2018
Investment income
Interest	$	1,567,919		$	1,562,881
Amortization of bond premium and discount - net		(598,110	)		(571,222	)
Total investment income		969,809			991,659
Expenses
Investment advisory fees		101,633			103,875
Custodian fees		7,270			7,384
Professional fees		132,860			132,175
Directors' fees		71,000			66,500
Administrative and accounting		72,000			72,000
Insurance and other expenses		13,956			17,082
Total expenses		398,719			399,016
Net investment income		571,090			592,643
Realized and unrealized gain on investments
Net realized gain on investments		31,067			20,738
Net unrealized appreciation (depreciation) on investments		824,290			(1,151,307	)
Net realized and unrealized (loss) on investments		855,357			(1,130,569	)
Net increase (decrease) in net assets resulting from operations	$	1,426,447		$	(537,926	)

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

9

Tridan Corp.

Statements of Changes in Net Assets

Years Ended April 30, 2019, 2018 and 2017

	2019			2018			2017
Change in net assets resulting from operations
Net investment income	$	571,090		$	592,643		$	681,930
Net realized gain (loss) on investments		31,067			20,738			18,097
Unrealized appreciation (depreciation) on investments		824,290			(1,151,307	)		(1,009,598	)
Net increase (decrease) in net assets resulting from operations		1,426,447			(537,926	)		(309,571	)
Distributions to shareholders from
Net investment income		(564,620	)		(583,245	)		(676,878	)
Capital gains		(16,210	)		(28,568	)		-
Redemptions of shares
2,296.3490 shares, 1,866.2640 shares and 31,341.4235 shares, respectively		(27,370	)		(22,607	)		(389,887	)
Total increase (decrease) in net assets		818,247			(1,172,346	)		(1,376,336	)
Net assets
Beginning of year		36,402,891			37,575,237			38,951,573
End of year	$	37,221,138		$	36,402,891		$	37,575,237

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

10

Tridan Corp.

Notes to Financial Statements

April 30, 2019 and 2018

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 securi-ties acquired/sold is included in income from/to the settlem-ent 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, 2019 and 2018.

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.

On December 22, 2017, the Tax Cuts and Jobs Act (the “2017 Act”) was signed into law, which includes a broad range of tax reform proposals affecting businesses in the United States of America, including corporate tax rates, business deductions and international tax provisions. One of the key changes to the tax law was the reduction of the corporate tax rate from 35% to 21%. U.S. GAAP requires deferred tax assets and liabilities to be measured at the tax rates that are expected to apply in the period in which the asset or the liability is settled, based on tax rates that have been enacted by the end of the reporting period.

11

Tridan Corp.

Notes to Financial Statements

April 30, 2019 and 2018

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.

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, 2019 and 2018, there was approximately $1,200,000 and $700,000 of cash and cash equivalents held in excess of federally insured limits, respectively. 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, 2019 and 2018

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, 2019 and 2018.  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, 2019 and 2018:

	Quoted Prices for Identical Instruments in Non-active Markets (Level 2)
	April 30,
	2019		2018
Investments in municipal obligations	$	35,583,277	$	35,208,242
Total investments at fair value	$	35,583,277	$	35,208,242

The Company utilizes quoted market prices for its securities owned, when available.  Instruments classified as Level 2 are valued using industry-standard models or other valuation methodologies calibrated to observable market inputs.

13

Tridan Corp.

Notes to Financial Statements

April 30, 2019 and 2018

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,
	2019		2018
Cash and cash equivalents	$	1,252,763	$	740,959

3. Accrued Liabilities

Accrued liabilities consist of the following at:

	April 30,
	2019		2018
Accrued investment advisory and custodian fees (a)	$	38,563	$	38,264
Accrued fees - affiliate (b)	$	18,727	$	19,174
Accrued other:
Accrued audit fees (c)	$	12,125	$	12,125
Accrued administrative and accounting expenses		365		1,745
	$	12,490	$	13,870

(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 investment-s.  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, 2019 and 2018, 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, 2019 and 2018, the Company incurred audit fees of approximately $48,000 and $48,000, respectively.

14

Tridan Corp.

Notes to Financial Statements

April 30, 2019 and 2018

4. Investment Transactions

Purchases and sales of investments in municipal obligations (excluding short-term and demand investments) amounted to approximately $6,195,000 and $6,077,000, respectively, for the year ended April 30, 2019, and $3,129,000 and $3,868,000, respectively, for the year ended April 30, 2018.

The U.S. Federal income tax basis (aggregate cost) of the Company’s investments, at April 30, 2019 and 2018, was approximately $34,538,000 and $34,987,000, respectively, and net unrealized appreciation, at April 30, 2019 and 2018, for U.S. Federal income tax purposes was approximately $1,045,000 and $221,000, respectively (gross unrealized appreciation of approximately $1,079,000 and $582,000, respectively; gross unrealized depreciation of approximately $34,000 and 361,000, respectively).

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

At April 30, 2019 and 2018, 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 22,005 shares and 24,302 shares, respectively, of outstanding common stock, at April 30, 2019 and 2018.  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, 2019 and 2018, 114,311.9613 shares ($1,359,573) and 112,015.6123 shares ($1,332,205), 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,
	2019		2018
Net asset value	$	12.18	$	11.91
Shares outstanding at:
April 30, 2019		3,055,457.1522
April 30, 2018		3,057,753.5012

15

Tridan Corp.

Notes to Financial Statements

April 30, 2019 and 2018

6. Distributions

During the years ended April 30, 2019, 2018 and 2017, distributions of $580,830 ($.19 per share), $611,813 ($.20 per share) and $676,878 ($.22 per share), respectively, were declared and paid to shareholders, substantially all of which were exempt from Federal income taxes except for $16,210 in 2019 and $28,568 in 2018 which were treated as capital gains.

The tax character of distributions paid during the years ending April 30, 2019, 2018 and 2017 is as follows:

	2019		2018		2017
Distributions paid from investment income:
Tax-exempt investment income, net	$	564,620	$	583,245	$	676,878
Capital gains		16,210		28,568		-
	$	580,830	$	611,813	$	676,878

As of April 30, 2019, 2018 and 2017, the components of distributable earnings on a tax basis are as follows:

	2019		2018			2017
Under-distributed (over-distributed) tax-exempt investment income, net	$	5,025	$	(1,445	)	$	(10,843	)
Over-distributed taxable investment income		-		-			-
Undistributed (over-distributed) capital gains (losses)		14,856		-			7,830
Unrealized appreciation of investments, net		1,045,411		221,121			1,372,428
	$	1,065,292	$	219,676		$	1,369,415

Capital loss carryforwards as of April 30, 2019 and 2018, were $0 and $0, respectively. The Company had no capital reclassification related to permanent book/tax differences for years ending April 30, 2019, 2018 and 2017.  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, 2019 and 2018.

16

Tridan Corp.

Notes to Financial Statements

April 30, 2019 and 2018

7. Financial Highlights

Selected per share data and ratios are as follows:

	For the Years Ended April 30,
	2019			2018			2017			2016			2015
Per share operating performance:
(For a share of common stock outstanding throughout the year):
Net asset value, beginning of year	$	11.91		$	12.28		$	12.60		$	12.52		$	12.56
Income from investment operations:
Net investment income		.18			.19			.22			.25			.26
Net realized and unrealized gain (loss) on investments		.28			(.36	)		(.32	)		.08			(.04	)
Total from investment operations		.46			(.17	)		(.10	)		.33			.22
Less distributions:
Dividends (from net investment income)		(.18	)		(.19	)		(.22	)		(.25	)		(.25	)
Capital gains		(.01	)		(.01	)		(.00	)		(.00	)		(.01	)
Total distributions		(.19	)		(.20	)		(.22	)		(.25	)		(.26	)
Net asset value - end of year	$	12.18		$	11.91		$	12.28		$	12.60		$	12.52
Per share value - end of year	$	12.18		$	11.91		$	12.28		$	12.60		$	12.52
*Total investment return		3.87	%		(1.43	)%		(.80	)%		2.64	%		1.75	%
Ratios/Supplemental Data:
Net assets, end of year (in 000s)	$	37,221		$	36,402		$	37,575		$	38,952		$	38,730
Ratio of expenses to average net assets		1.08	%		1.08	%		1.05	%		1.06	%		1.06	%
Ratio of net investment income to average net assets		1.55	%		1.60	%		1.78	%		1.96	%		2.08	%
Portfolio turnover rate		16.51	%		8.46	%		12.37	%		5.91	%		9.41	%
Average (simple) number of shares outstanding (in thousands)		3,057			3,059			3,075			3,092			3,093

* 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 April 30, 2019, for its fiscal year ended April 30, 2019, 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 April 30, 2019, 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, 2019 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 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	$	8,612,605,000		0	$	0		4	$	2,458,639,000

	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 which may include JPMorgan restricted stock units, depending on the employee’s election.  When these awards vest over time (typically 3 years), the portfolio manager receives cash equal to the market value of the notional investment in the selected mutual funds or shares of JPMorgan common stock.

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

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 April 30, 2019 for its fiscal year ended April 30, 2019, 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: 05/14/2019

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: 05/14/2019

/s/ Mark Goodman

Mark Goodman, Treasurer and Chief Financial Officer

Date: 05/14/2019