UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1
to
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Dated January 6, 2004
File No. 811-3056
Pursuant to Section 30 of the
Investment Company Act of 1940
TRIDAN CORP.
(Exact name of registrant as specified in charter)
477 Madison Avenue, New York, NY 10022
(Address of principal executive offices)
I. Robert Harris, c/o Kantor, Davidoff, Wolfe, Mandelker & Kass, P.C.
51 East 42nd Street, New York, NY 10017
(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 371-2100
Date of fiscal year end: April 30, 2004
Date of reporting period: October 31, 2003
Item 1. Reports to Stockholders.
Attached on the following pages is a copy of the registrant's semi-annual
financial statement as of October 31, 2003, which has been restated
pursuant to Securities and Exchange Commission requirements.
TRIDAN CORP.
FINANCIAL REPORT
(Unaudited)
OCTOBER 31, 2003 AND 2002
TRIDAN CORP.
(Unaudited)
TABLE OF CONTENTS
Page
Accountant's Report 1
Financial Statements
Statements of Assets and Liabilities 2
Schedules of Investments in Municipal Obligations 3
Statements of Operations 6
Statements of Changes in Net Assets 7
Notes to Financial Statements 8
[LETTERHEAD OF YOHALEM GILLMAN & COMPANY LLP]
To the Shareholders and Board of Directors
Tridan Corp.
We have compiled the accompanying statements of assets and liabilities, and
schedules of investments in municipal obligations of Tridan Corp. as of October
31, 2003 and 2002, the related statements of operations for the six months then
ended and changes in net assets for the six months ended October 31, 2003, and
financial highlights (Note 6 to the financial statements) for each period in the
six months ended October 31, 1999 - 2003, in accordance with Statements on
Standards for Accounting and Review Services issued by the American Institute of
Certified Public Accountants.
A compilation is limited to presenting in the form of financial statements
information that is the representation of management. We have not audited or
reviewed the aforementioned financial statements and financial highlights and,
accordingly, do not express an opinion or any other form of assurance on them.
We are not independent with respect to Tridan Corp.
The statement of changes in net assets for the year ended April 30, 2003 was
derived from financial statements that were audited by another accounting firm
whose report dated May 15, 2003 expressed an unqualified opinion thereon.
New York, New York
August 24, 2004
TRIDAN CORP.
STATEMENTS OF ASSETS AND LIABILITIES
(Unaudited)
OCTOBER 31,
2003 2002
------------ ------------
ASSETS
Investments in municipal obligations,
at market value (amortized cost of
$35,792,534 and $33,843,758, respectively) $ 38,887,379 $ 36,836,128
Cash and cash equivalents 739,390 2,635,891
Accrued interest receivable 588,629 572,675
Prepaid expenses 2,434 2,212
------------ ------------
40,217,832 40,046,906
------------ ------------
LIABILITIES
Accounts payable and accrued liabilities
Accrued investment advisory fees 27,500 27,500
Accrued fee - affiliate 31,343 11,158
Accrued other 5,373 15,025
Common stock redemption payable -.- 26,602
------------ ------------
64,216 80,285
------------ ------------
NET ASSETS $ 40,153,616 $ 39,966,621
============ ============
Analysis of net assets
Common stock, at $.02 par value,
6,000,000 shares authorized $ 63,982 $ 63,982
Paid in capital 36,957,931 36,961,633
Over distributed investment income, net (23,025) (64,977)
Undistributed capital gains 59,883 13,613
Unrealized appreciation of investments, net 3,094,845 2,992,370
------------ ------------
Net assets, equivalent to $12.85 and $12.79
per share based on 3,125,253.4722 and
3,125,658.4792 shares of common stock
outstanding, respectively $ 40,153,616 $ 39,966,621
============ ============
See accompanying notes and accountant's report.
-2-
TRIDAN CORP.
SCHEDULES OF INVESTMENTS IN MUNICIPAL OBLIGATIONS
(Unaudited)
OCTOBER 31,
2003 2002
------------------------------------------ ----------------------------------------
Principal Amortized Market Principal Amortized Market
Amount Cost Value Amount Cost Value
---------- ---------- ---------- ---------- ---------- ----------
City of Buffalo
N.Y. Sewer Auth
5.00% due May 15, 2011 $1,110,000 $1,205,475 $1,226,606 $ -.- $ -.- $ -.-
City of New York
General Purpose Unlimited Tax
6.750% due February 1, 2009 1,000,000 1,089,507 1,181,370 1,000,000 1,104,145 1,184,340
City of New York
Ref. Unlimited Tax
6-3/4% due August 15, 2003 -.- -.- -.- 500,000 507,815 519,450
Cleveland Hill Union Free
School District
5.500% due October 15, 2011 1,480,000 1,505,687 1,668,167 1,480,000 1,508,230 1,668,878
Massachusetts Industrial
Finance Agency
5.300% due November 1, 2010 -.- -.- -.- 500,000 500,000 500,000
2.875% due November 1, 2010 357,143 357,143 357,143 -.- -.- -.-
Metropolitan Transportation Authority
N.Y. SVC Contract
5.750% due July 1, 2008 1,000,000 982,785 1,153,850 1,000,000 979,692 1,148,190
Monroe County, N.Y. - Rochester
Pub Improvement
6.000% due June 1, 2010 900,000 904,797 1,053,570 900,000 905,377 1,047,976
6.000% due March 1, 2012 445,000 517,800 518,892 -.- -.- -.-
Mt. Sinai, N.Y. Union Free School District
AMBAC Insured
6.200% due February 15, 2011 1,070,000 1,066,851 1,262,589 1,070,000 1,066,520 1,269,587
N.Y.C. Municipal Water
Fin. Auth
6.000% due June 15, 2009 2,000,000 2,132,023 2,358,560 2,000,000 2,152,124 2,314,520
N.Y.S. Dormitory Authority - State
University Educational Facilities
7-1/2% due May 15, 2011 590,000 581,420 720,875 590,000 580,610 731,113
See accompanying notes and accountant's report.
-3-
TRIDAN CORP.
SCHEDULES OF INVESTMENTS IN MUNICIPAL OBLIGATIONS
(Unaudited)
OCTOBER 31,
2003 2002
---------------------------------------- ------------------------------------------
Principal Amortized Market Principal Amortized Market
Amount Cost Value Amount Cost Value
---------- ---------- ---------- ---------- ---------- ----------
NYC Tr. FA Rev
5.000% due May 1, 2006 $ -.- $ -.- $ -.- $1,250,000 $1,303,209 $1,353,350
N.Y.S. Dormitory Authority
Revs. City University System
6.250% due July 1, 2005 500,000 509,802 540,825 500,000 515,310 553,855
N.Y.S. Dormitory Authority
Pace University
6.500% due July 1, 2009 1,000,000 1,075,664 1,195,040 1,000,000 1,086,968 1,187,850
Nassau County Interim
Fin. Auth., N.Y
5.750% due November 15, 2013 1,100,000 1,139,129 1,248,698 1,100,000 1,143,635 1,236,103
N.Y.S. Environmental Facilities
Pollution Control - Revolving Fund
5.750% due June 15, 2008 1,500,000 1,541,230 1,728,550 1,500,000 1,548,958 1,718,768
5.200% due May 15, 2014 575,000 644,317 641,999 -.- -.- -.-
N.Y.S. Dormitory Authority Revs
5.250% due November 15, 2023 1,000,000 1,097,655 1,081,540 1,000,000 1,100,603 1,093,640
N.Y.S. Medical Care Facilities
Finance Agency - (FHA) Hospital
Revenue Insured Mortgages
6.800% due August 15, 2024 1,000,000 1,099,265 1,090,880 1,000,000 1,101,630 1,128,330
N.Y.S. Ref. Unlimited Tax
6.500% due July 15, 2005 1,700,000 1,742,513 1,844,942 1,700,000 1,765,860 1,892,049
N.Y.S. Dormitory Authority Revs
Columbia University
5.000% due July 10, 2010 1,000,000 1,065,164 1,119,850 1,000,000 1,073,574 1,106,470
N.Y.S. DormitoryAuthority Revs
Personal Income Tax
5.000% due March 15, 2011 1,000,000 1,105,647 1,130,970 -.- -.- -.-
See accompanying notes and accountant's report.
-4-
TRIDAN CORP.
SCHEDULES OF INVESTMENTS IN MUNICIPAL OBLIGATIONS
(Unaudited)
OCTOBER 31,
2003 2002
--------------------------------------------- ---------------------------------------------
Principal Amortized Market Principal Amortized Market
Amount Cost Value Amount Cost Value
----------- ----------- ----------- ----------- ----------- -----------
Niagara Falls Bridge
Commission NY Toll Rev Hwy
1 MPT Series B
5.250% due October 01, 2015 $ 2,000,000 $ 2,121,918 $ 2,242,480 $ 2,000,000 $ 2,129,457 $ 2,230,400
N.Y.S Thruway Authority
Hwy. & Bridge Fund
6.400% due April 1, 2004 -.- -.- -.- 500,000 505,022 532,855
N.Y.S. UDC Correction FACS
6.000% due January 1, 2012 1,000,000 1,025,300 1,174,420 1,000,000 1,027,787 1,144,140
N.Y.S. Urban Development Corp.
Rev. Sub. Lic
6.000% due July 1, 2005 1,500,000 1,521,172 1,611,180 1,500,000 1,533,054 1,640,505
5.500% due January 1, 2008 1,055,000 1,073,752 1,182,708 1,055,000 1,077,702 1,173,951
Power Authority of N.Y. S
General Purpose Revenue:
6-1/2% due Jan. 1, 2008 1,675,000 1,704,166 1,890,338 1,675,000 1,710,152 1,922,398
Puerto Rico Electric Power
Authority Star & Stripe
5.500% due July 1, 2006 600,000 613,679 659,598 600,000 618,399 666,930
Puerto Rico Commonwealth
Highway & Transp. Auth
5.00% due July 1, 2035 1,000,000 1,090,391 1,109,010 -.- -.- -.-
Suffolk County Water
Authority
6.000% due June 1, 2009 1,260,000 1,336,910 1,470,042 1,260,000 1,348,675 1,457,114
Suffolk County Judicial
FACS Agency
5.750% due October 15, 2011 1,340,000 1,365,025 1,528,337 1,340,000 1,366,632 1,521,731
Triborough Bridge or Tunnel
Authority N.Y. Revs
6.000% due January 1, 2012 1,500,000 1,553,919 1,748,430 1,500,000 1,559,035 1,752,795
5.500% due January 1, 2017 1,000,000 1,022,428 1,145,920 1,000,000 1,023,583 1,138,840
----------- ----------- ----------- ----------- ----------- -----------
$34,257,143 $35,792,534 $38,887,379 $32,520,000 $33,843,758 $36,836,128
=========== =========== =========== =========== =========== ===========
See accompanying notes and accountant's report.
-5-
TRIDAN CORP.
STATEMENTS OF OPERATIONS
(Unaudited)
SIX MONTHS ENDED
OCTOBER 31,
2003 2002
----------- -----------
Investment income
Interest $ 1,001,473 $ 980,537
Amortization of bond premium and
discount - net (100,786) (101,481)
----------- -----------
Total investment income 900,687 879,056
----------- -----------
Expenses
Investment advisory fee 55,639 54,624
Professional fees 30,350 35,100
Directors' fees 22,500 27,000
Administrative fees 33,580 29,587
Insurance and administrative expenses 6,907 7,326
----------- -----------
Total expenses 148,976 153,637
----------- -----------
Investment income - net 751,711 725,419
----------- -----------
Realized and unrealized gain on investments
Net realized gain on investments 88,594 13,613
Change in unrealized appreciation of
investments for the period (338,246) 773,605
----------- -----------
Net (loss) gain on investments (249,652) 787,218
----------- -----------
Net increase in assets resulting
from operations $ 502,059 $ 1,512,637
=========== ===========
See accompanying notes and accountant's report.
-6-
TRIDAN CORP.
STATEMENTS OF CHANGES IN NET ASSETS
SIX MONTHS
ENDED YEAR ENDED
OCTOBER 31, APRIL 30,
2003 2003
------------ ------------
(Unaudited) (Audited)
(Decrease) increase in net assets
resulting from operations
Investment income - net $ 751,711 $ 1,436,759
Net realized gain on investments 88,594 19,263
Change in unrealized appreciation (338,246) 1,214,326
------------ ------------
Net increase in net assets resulting
from operations 502,059 2,670,348
------------ ------------
Redemptions of 405.0070 (October 31, 2003)
and 2,689.7041 shares (April 30, 2003) (5,103) (34,351)
------------ ------------
Distributions to shareholders:
Investment income - net (tax exempt) (687,184) (1,428,295)
Long-term capital gains - net (94,244) (41,373)
------------ ------------
(781,428) (1,469,668)
------------ ------------
Total (decrease) increase (284,472) 1,166,329
------------ ------------
Net assets
Beginning of period 40,438,088 39,271,759
------------ ------------
End of period, including
- Net undistributed (overdistributed)
investment income $(23,025) and $(27,169),
in October 2003 and April 2003, respectively
- Net undistributed capital gains of $59,883,
and $5,650 in October 2003 and April 2003,
respectively $ 40,153,616 $ 40,438,088
============ ============
See accompanying notes and accountant's report.
-7-
TRIDAN CORP.
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED OCTOBER 31, 2003 AND 2002
1. Significant Accounting Policies
The following is a summary of the significant policies followed by Tridan
Corp. (the "Company"), a closed-end, non-diversified management investment
company registered under the Investment Company Act of 1940, in the
preparation of its financial statements.
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. Investments are carried at
amortized cost in the Company's accounting records but are shown at market
value in the accompanying financial statements. Short-term investments are
stated at cost, which is equivalent to market value.
Fair values for the Company's investments in municipal obligations have
been determined based on the bid price of the obligation, if available; if
not available, such value is based on a yield matrix for similarly traded
municipal obligations. 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,
which quotations were not readily available as of October 31, 2003 and
2002.
Amortization of Bond Premium or Discount
In determining investment income, bond premium or discount is amortized on
a straight-line basis 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.
Therefore, no income tax provision is required; however, the Company is
subject to minimum New York State and local franchise taxes.
Interest income from municipal investments are exempt from Federal and
state income taxes.
Cash and Cash Equivalents
The Company considers all investments that can be liquidated on demand to
be cash equivalents.
October 31,
2003 2002
---------- ----------
Cash $ 18,076 $ 9,891
Cash equivalents - demand bonds and notes 721,314 2,626,000
---------- ----------
$ 739,390 $2,635,891
========== ==========
See accountant's report.
-8-
TRIDAN CORP.
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED OCTOBER 31, 2003 AND 2002
1. Significant Accounting Policies (continued)
The Company maintains all of its cash and cash equivalents in one
financial institution. At times, such balances may be in excess of amounts
insured by the Federal Deposit Insurance Corporation.
Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure 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 when
accounting for the valuation of securities and the realization of
investment.
Concentration of Credit Risk
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. The Company and its investment
advisor periodically consider the credit quality of the Company's
investments, and the Company adheres to its investment objective of
investing only in investment grade securities.
2. Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities consisted of the following at:
October 31,
2003 2002
------- -------
Accrued investment advisory fees (a) $27,500 $27,500
Accrued fee - affiliate (b) 31,343 11,158
Accrued audit fees (c) -.- 6,675
Accrued accounting fees and other 5,373 8,350
------- -------
$64,216 $53,683
======= =======
(a) The Company utilizes the services of J.P. Morgan Investment
Management, Inc. ("J.P Morgan") as its investment advisor and
custodian for its investments. The annual advisory fee is .28
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.
See accountant's report.
-9-
TRIDAN CORP.
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED OCTOBER 31, 2003 AND 2002
2. Accounts Payable and Accrued Liabilities (continued)
(b) For the six months ending October 31, 2003 and 2002, the
Company incurred legal fees of approximately $30,350 and
$29,400, respectively, which include professional fees paid to
the law firm of which an officer of the Company is a Member.
(c) For the six months ending October 31, 2003 and 2002, the
Company incurred audit fees of approximately $-0- and $5,700,
respectively.
3. Investment Transactions
Purchases and sales of investments in municipal obligations (excluding
short-term and demand investments) amounted to approximately $2,939,571
and $3,071,673, respectively, for the six months ended October 31, 2003
and $1,100,950 and $985,000, respectively, for the six months ended
October 31, 2002.
The U.S. Federal income tax basis of the Company's investments, at October
31, 2003 and 2002, was approximately $35,792,534 and $33,843,758,
respectively, and net unrealized appreciation at October 31, 2003 and
2002, for U.S. Federal income tax purposes was approximately $3,094,845
and $2,992,370, respectively (gross unrealized appreciation of
approximately $3,121,663 and $2,999,333, respectively, gross unrealized
depreciation of approximately $26,818 and $6,963, respectively.
4. Common Stock, Net Asset Values and Share Redemption Plan
At October 31, 2003 and 2002, 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, and additional paid-in capital aggregating $312,787.
The Company's share redemption 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 October 31, 2003 and 2002, $858,383 (73,846.5278 shares),
$853,280 (73,441.5208 shares) respectively, had been redeemed under this
plan.
The net asset value per share is calculated by dividing the value of all
assets less total liabilities by the number of common shares outstanding
at the end of the period.
The net asset value per share and the shares outstanding were as follows:
October 31,
2003 2002
-------- --------
Net asset value:
at market value of the
underlying investments $ 12.85 $ 12.79
- at amortized cost $ 11.86 $ 11.83
See accountant's report.
-10-
TRIDAN CORP.
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED OCTOBER 31, 2003 AND 2002
4. Common Stock, Net Asset Values and Share Redemption Plan (continued)
October 31,
2003 2002
------------ ------------
Shares outstanding at:
October 31, 2003 3,125,253.4722
October 31, 2002 3,125,658.4792
5. Distributions
During the six months ended October 31, 2003 and 2002, distributions of
$781,428 ($.25 per share) and $782,023 ($.25 per share), respectively,
were declared and paid to shareholders, which, except for capital gains of
$94,244 in 2003 and $27,760 in 2002, were exempt from Federal income
taxes. Distributions for the year ended April 30, 2003 were $1,469,668
($.47 per share) and were exempt from Federal income taxes except for
$41,373 of capital gains.
The tax character of distributions paid during the six months ending
October 31, 2003 and 2002 and the year ended April 30, 2003 were as
follows:
Six Months Ended Year Ended
October 31, April 30,
2003 2002 2003
----------- ----------- -----------
Distributions paid from
Tax exempt investment income, net $ 687,184 $ 754,263 $ 1,428,295
Capital gains 94,244 27,760 41,373
----------- ----------- -----------
$ 781,428 $ 782,023 $ 1,469,668
=========== =========== ===========
As of October 31, 2003 and 2002 and April 30, 2003, the components of
distributable earnings on a tax basis were as follows:
October 31, October 31, April 30,
2003 2002 2003
----------- ----------- -----------
Overdistributed tax-exempt
investment income, net $ (23,025) $ (64,977) $ (27,669)
Undistributed capital gains 59,883 13,613 5,650
Unrealized appreciation of
investments, net 3,094,845 2,992,370 3,433,091
----------- ----------- -----------
$ 3,131,703 $ 2,941,006 $ 3,411,072
=========== =========== ===========
The Company has no capital loss carry forwards as of October 31, 2003 and
2002. The Company had no capital reclassification related to permanent
book/tax differences for the six months ending October 31, 2003 and 2002.
See accountant's report.
-11-
TRIDAN CORP.
NOTES TO FINANCIAL STATEMENTS
SIX MONTHS ENDED OCTOBER 31, 2003 AND 2002
6. Financial Highlights
Selected per share data and ratios
SIX MONTHS ENDED OCTOBER 31,
2003 2002 2001 2000 1999
---------- ---------- ---------- ---------- ----------
Per share data:
(For a share of capital stock outstanding
throughout the period):
Net asset value, beginning of year $ 12.94 $ 12.56 $ 12.36 $ 11.85 $ 12.52
---------- ---------- ---------- ---------- ----------
Income from investment operations:
Net investment income 0.24 0.23 0.25 0.27 0.26
Net realized and unrealized
gain (loss) on investments (0.08) 0.25 0.32 0.30 (0.52)
---------- ---------- ---------- ---------- ----------
Total from investment operations 0.16 0.48 0.57 0.57 (0.26)
---------- ---------- ---------- ---------- ----------
Less distributions:
Dividends (from net investment
income) 0.22 0.24 0.26 0.28 0.25
Capital gains 0.03 0.01 0.02 -.- 0.05
---------- ---------- ---------- ---------- ----------
Total distributions (0.25) (0.25) (0.28) (0.28) (0.30)
---------- ---------- ---------- ---------- ----------
Net asset value - end of period $ 12.85 $ 12.79 $ 12.65 $ 12.14 $ 11.96
========== ========== ========== ========== ==========
Per share market value - end of period $ 12.85 $ 12.79 $ 12.65 $ 12.14 $ 11.96
========== ========== ========== ========== ==========
Total investment return -0.70% 1.91% 2.35% 2.45% -4.47%
Ratios/Supplemental Data:
Net assets, end of period (in thousands) $ 40,153 $ 39,966 $ 39,582 $ 38,050 $ 37,488
Ratio of expenses to average net assets
(annualized) 0.74% 0.77% 0.69% 0.70% 0.75%
Ratio of net investment income - to
average net assets (annualized) 3.72% 3.64% 3.93% 4.50% 4.34%
Portfolio turnover rate 7.0% 3.0% 3.0% 24.0% 15.0%
Average (simple) number of shares
outstanding (in thousands) 3,125 3,126 3,130 3,132 3,136
See accountant's report.
-12-
Item 2. Code of Ethics
Not required in this report.
Item 3. Audit Committee Financial Expert
Not required in this report.
Item 4. Principal Accountant Fees and Services
Not required in this report.
Item 5. Audit Committee of Listed Registrants.
Not required in this report.
Item 6. Schedule of Investments.
A schedule of registrant's investments in securities of unaffiliated
issuers as of October 31, 2003 is included as part of the restated
financial statement filed under Item 1 of this Form.
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. 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 9. 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 10. 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) Reportage on the registrant's internal control over financial
reporting is not required until the report applicable to the
registrant's fiscal year ending April 30, 2005.
Item 11. Exhibits
(a) The following exhibits are filed herewith:
(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: August 30, 2004
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: August 30, 2004
By (Signature and Title) /S/ Warren F. Pelton
-------------------------------------------------------
Warren F. Pelton, Treasurer and Chief Financial Officer
Date: August 30, 2004