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FORM 5500 DATA

Quadax, Inc. 401k Profit Sharing Plan and Trust

Overview

Plan Information

  • Plan Year11/01/2017 — 10/31/2018
  • Date of Plan06/01/1992
  • Net Assets as of 10/31/2018 $24,265,127
  • 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 10/31/2018

  • Active (Eligible) Participants730
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits75
  • Subtotal805
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total805
  • Total number of participants as of 11/01/2017912
  • Number of participants with account balances648
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested56

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 $3,062,654
Contributions $2,895,399
Cash Contributions $2,895,399
Cash from Employers $704,968
Cash from Participants $2,073,214
Others (including rollovers) $117,217
Noncash Contributions $0
Total Earnings on Investments $167,255
Total Interest $61,551
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 $61,551
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 $105,704
Other Income $0
Expenses $2,659,537
Total Benefit Payments $2,609,194
Directly to participants or beneficiaries, including direct rollovers $2,609,194
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 $50,343
Professional Fees $7,000
Contract Administrator Fees $43,343
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $403,117
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

10/31/2018 10/31/2017 Change YOY
Total Assets $24,265,127 $23,862,010 1.69%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $98,263 -100.00%
Employer Contributions $0 $23,851 -100.00%
Participant Contributions $0 $74,412 -100.00%
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 $21,403,057 $18,910,265 13.18%
Value of funds held in insurance co. general account $2,862,070 $2,891,171 -1.01%
Other Investments $0 $1,962,311 -100.00%
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 $24,265,127 $23,862,010 1.69%

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 $9,957 $2,077 $12,034
Thornhill Financial Accounting (including auditing) Auditor $7,000 $0 $7,000
Moskal Gross Orchosky Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Consulting (pension) Third Party Administrato $5,572 $1,112 $6,684
Total $22,529 $3,189 $25,718

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 $1,112
Nationwide Moskal Gross Orchosky Investment Ad Recordkeeping and information management (computing, tabulating, data processing, etc.), Account maintenance fees, Other fees Advisory Fee $2,077
*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 92
EIN 31-4156830
Industry Code 66869
Contract Number 335-80428
Contract Year 11/01/2017 — 10/31/2018
Value in General Account at Year End $2,862,070
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
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 $0
Additions $2,871,785
Contributions Deposited during the year $18,196
Dividends and credits $0
Interest credited during the year $-40,516
Transferred from separate account $59,649
Other $2,834,456
Total of Balance and Additions $2,871,785
Deductions $9,715
Disbursed from fund to pay benefits or purchase annuities during the year $9,280
Administration charge made by carrier $435
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $2,862,070
Nationwide Life Insurance Company 0
EIN 31-4156830
Industry Code 66869
Contract Number 335-80041
Contract Year 11/01/2017 — 10/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
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 $0
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 $2,891,171
Additions $393,970
Contributions Deposited during the year $208,660
Dividends and credits $0
Interest credited during the year $55,921
Transferred from separate account $129,639
Other $-250
Total of Balance and Additions $3,285,141
Deductions $3,285,141
Disbursed from fund to pay benefits or purchase annuities during the year $3,268,648
Administration charge made by carrier $3,542
Transferred to Separate Account $12,056
Other $895
Balance at the end of the current year $0