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FORM 5500 DATA

Quadax, Inc. 401k Profit Sharing Plan and Trust

Overview

Plan Information

  • Plan Year11/01/2016 — 10/31/2017
  • Date of Plan06/01/1992
  • Net Assets as of 10/31/2017 $23,862,010
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 10/31/2017

  • Active (Eligible) Participants770
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits67
  • Subtotal837
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total837
  • Total number of participants as of 11/01/2016862
  • Number of participants with account balances658
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested19

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address25201 Chagrin Blvd. #290
  • CityBeachwood
  • StateOH
  • Zip44122-5633
  • Telephone(216) 765-1144
  • EIN34-1127026
  • Industry Code541990
  • Named AdministratorThomas Hockman

Audit Information

  • Audit StatusAudited
  • AuditorThornhill Financial Inc.
  • Auditor EIN34-1818419
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $6,138,307
Contributions $2,669,358
Cash Contributions $2,669,358
Cash from Employers $622,269
Cash from Participants $1,973,969
Others (including rollovers) $73,120
Noncash Contributions $0
Total Earnings on Investments $3,468,949
Total Interest $78,887
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $78,887
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $3,390,062
Other Income $0
Expenses $2,207,083
Total Benefit Payments $2,158,277
Directly to participants or beneficiaries, including direct rollovers $2,158,277
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $48,806
Professional Fees $7,000
Contract Administrator Fees $41,806
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $3,931,224
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

10/31/2017 10/31/2016 Change YOY
Total Assets $23,862,010 $19,930,786 19.72%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $98,263 $0 0.0%
Employer Contributions $23,851 $0 0.0%
Participant Contributions $74,412 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $18,910,265 $15,534,028 21.73%
Value of funds held in insurance co. general account $2,891,171 $2,835,143 1.98%
Other Investments $1,962,311 $1,561,615 25.66%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $23,862,010 $19,930,786 19.72%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Mgo Investment Adviosrs

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Nationwide Recordkeeping and information management (computing, tabulating, data processing, etc.), Account maintenance fees, Other fees Custodian/Recordkeeper $55,222 $5,057 $60,279
Moskal Gross Orchosky Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Consulting (pension) Third Party Administrato $24,404 $19,933 $44,337
Thornhill Financial Accounting (including auditing) Auditor $14,000 $0 $14,000
Mgo Investment Advisors Investment advisory (participants), Named fiduciary, Investment advisory (plan), Participant communication, Investment management Investment Advisory $11,518 $0 $11,518
Total $105,144 $24,990 $130,134

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Moskal Gross Orchosky, Nationwide Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Consulting (pension) Advisory Services/Provider Fee $19,933
Nationwide Moskal Gross Orchosky Investment Ad Recordkeeping and information management (computing, tabulating, data processing, etc.), Account maintenance fees, Other fees Advisory Fee $4,555
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Nationwide Life Insurance Company 99
EIN 31-4156830
Industry Code 66869
Contract Number 335-80041
Contract Year 11/01/2016 — 10/31/2017
Value in General Account at Year End $2,891,171
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $5,333
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Nationwide Life Insurance Co. One Nationwide Plaza Columbus, OH 43235 -1484 Insurance Agent or Broker $0 $5,333 ADMINISTRATION FEE
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Unspecified
Balance at the end of the previous year $2,835,143
Additions $542,226
Contributions Deposited during the year $235,369
Dividends and credits $0
Interest credited during the year $62,926
Transferred from separate account $218,728
Other $25,203
Total of Balance and Additions $3,377,369
Deductions $486,198
Disbursed from fund to pay benefits or purchase annuities during the year $394,682
Administration charge made by carrier $5,333
Transferred to Separate Account $85,845
Other $338
Balance at the end of the current year $2,891,171