UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
| 1. Investment Company Act File Number: 811-22684 | Date examination completed: | ||||||||||||
| October 31, 2017 | |||||||||||||
| 2. State identification Number: | |||||||||||||
| AL | AK | AZ | AR | CA | CO | ||||||||
| CT | DE | DC | FL | GA | HI | ||||||||
| ID | IL | IN | IA | KS | KY | ||||||||
| LA | ME | MD | MA | MI | MN | ||||||||
| MS | MO | MT | NE | NV | NH | ||||||||
| NJ | NM | NY X | NC | ND | OH | ||||||||
| OK | OR | PA | RI | SC | SD | ||||||||
| TN | TX | UT | VT | VA | WA | ||||||||
| WV | WI | WY | PUERTO RICO | ||||||||||
Other
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| 3. Exact name of investment company as specified in registration statement: | |||||||||||||
| Daxor Corporation | |||||||||||||
| 4. Address of principal executive office (number, street, city, state, zip code): | |||||||||||||
350 Fifth Avenue, Suite 4740, New York, New York 10118
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MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH CERTAIN PROVISIONS OF THE INVESTMENT COMPANY ACT OF 1940
December 13, 2017
We, as members of management of Daxor Corporation (the “Company”), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, “Custody of Investments by Registered Management Investment Companies,” of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Company’s compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of October 31, 2017, and from July 13, 2017 through October 31, 2017.
Based on this evaluation, we assert that the Company was in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of October 31, 2017 and from July 13, 2017 through October 31, 2017, with respect to securities reflected in the investment accounts of the Company.
Daxor Corporation
| /s/ Michael Feldschuh | |
| Michael Feldschuh | |
| President and Chief Executive Officer | |
| /s/ John Wilkens | |
| John Wilkens | |
| Chief Financial Officer |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Stockholders and Board of Directors of
Daxor Corporation
We have examined management’s assertion, including the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that Daxor Corporation (the “Company”) complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 as of October 31, 2017. Management is responsible for the Company’s compliance with those requirements. Our responsibility is to express an opinion on management’s assertion about the Company’s compliance based on our examination.
Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Company’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of October 31, 2017, and with respect to agreement of security purchases and sales, for the period from July 13, 2017 (the date of our last examination, July 12, 2017) through October 31, 2017:
| ● | Confirmation of all securities held by institutions in book entry form with UBS Financial Services, Inc. and TD Ameritrade. | |
| ● | Reconciliation of all such securities to the books and records of the Company and the Custodians. | |
| ● | Agreement of 6 security purchases and 10 security sales for the period from July 13, 2017 through October 31, 2017 from the books and records of the Company to broker confirmations. Engagement team also tested the remainder of the sales for the period to leverage into our year end audit testing. |
We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company’s compliance with specified requirements.
In our opinion, management’s assertion that Daxor Corporation complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of October 31, 2017, with respect to securities reflected in the investment account of the Company is fairly stated, in all material respects.
This report is intended solely for the information and use of management and the Board of Directors of Daxor Corporation and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/ WithumSmith+Brown, PC
WithumSmith+Brown, PC
New York, New York
December 13, 2017