-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DPWUecAQlya7st7QqmlL3Ic01CV63Q+LV8ppPg0yOXUxh1toC3xh5Cs9XBDEzrep XliJLcj8GW7kdjcTH/VoFQ== 0000931763-97-001702.txt : 19971104 0000931763-97-001702.hdr.sgml : 19971104 ACCESSION NUMBER: 0000931763-97-001702 CONFORMED SUBMISSION TYPE: 10-K405/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970131 FILED AS OF DATE: 19971014 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAXIM GROUP INC / CENTRAL INDEX KEY: 0000910468 STANDARD INDUSTRIAL CLASSIFICATION: 5700 IRS NUMBER: 582060334 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-K405/A SEC ACT: SEC FILE NUMBER: 000-22232 FILM NUMBER: 97694993 BUSINESS ADDRESS: STREET 1: 210 TOWNPARK DR CITY: KENNESAW STATE: GA ZIP: 30144 BUSINESS PHONE: 7705909369 10-K/A 1 FORM 10-K/AMENDMENT #2 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A AMENDMENT NO. 2 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 1997 COMMISSION FILE NUMBER 1-13099 THE MAXIM GROUP, INC. ______________________________________________________________________________ (Exact name of registrant as specified in its charter) DELAWARE 58-2060334 - - ------------------------------------------------------------------------------- (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 210 TownPark Drive, Kennesaw, Georgia 30144 - - ------------------------------------------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (770) 590-9369 -------------- Securities registered pursuant to Section 12(b) of the Act: Title of each class: Name on each exchange on which registered: Common Stock, $.001 par value New York Stock Exchange, Inc. Securities registered pursuant to Section 12(g) of the Act: Common Stock, $.001 par value ----------------------------- (Title of class) 1 The undersigned Registrant hereby amends the following items, financial statements, exhibits, or other portions of its Annual Report on Form 10-K for the fiscal year ended January 31, 1997, as set forth below: Part IV, Item 13(a) of the above-referenced Form 10-K is amended to include as Exhibit 99 the information required by Form 11-K with respect to The Maxim Group 401(k) Plan (the "Plan"), which exhibit is filed as part of the above-referenced Form 10-K in lieu of a separate filing of an Annual Report on Form 11-K for the Plan for the fiscal year ended March 31, 1997, in accordance with Rule 15d-21. Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this amendment to be signed on its behalf by the undersigned thereunto duly authorized. THE MAXIM GROUP, INC. By: /S/A. J. Nassar ------------------- Name: A.J. Nassar Title: President and Chief Executive Officer Date: October 10, 1997 2 EXHIBIT 99 Information required by Form 11-K with respect to The Maxim Group 401(k) Plan for the fiscal year ended March 31, 1997: 1. The following financial statements prepared in accordance with the financial reporting requirements of ERISA include the following: a. Report of Independent Public Accountants b. Statement of Net Assets Available for Benefits, with Fund Information, as of March 31, 1997 c. Statement of Net Assets Available for Benefits, with Fund Information, as of March 31, 1996 d. Statement of Changes in Net Assets Available for Benefits, with Fund Information, for the Year Ended March 31, 1997 e. Notes to Financial Statements and Schedules f. Schedule I: Schedule of Assets Held for Investment Purposes March 31, 1997 g. Schedule II: Schedule of Reportable Transactions Year Ended March 31, 1997 2. Exhibits a. Consent of Independent Public Accountants--Arthur Andersen LLP 3 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS TO THE BOARD OF DIRECTORS OF THE MAXIM GROUP, INC.: We have audited the accompanying statements of net assets available for benefits, with fund information, of THE MAXIM GROUP 401(K) PLAN as of March 31, 1997 and 1996 and the related statement of changes in net assets available for benefits, with fund information, for the year ended March 31, 1997. These financial statements and the schedules referred to below are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements and schedules based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of The Maxim Group 401(k) Plan as of March 31, 1997 and 1996 and the changes in net assets available for benefits for the year ended March 31, 1997 in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The fund information in the statements of net assets available for benefits and the statement of changes in net assets available for benefits is presented for the purpose of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of each fund. The supplemental schedules and the fund information have been subjected to the auditing -4- procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. As explained in the notes thereto, information presented in the schedules of assets held for investment purposes and reportable transactions does not contain the historical cost of certain investments. Disclosure of this information is required by the Department of Labor Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. /s/ Arthur Andersen LLP Atlanta, Georgia October 10, 1997 -5- THE MAXIM GROUP 401(K) PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION MARCH 31, 1997
FUND INFORMATION ------------------------------------------------------------------------------- FEDERAL RETIREMENT THE MAXIM GLOBAL SECURITIES PRESERVATION GROUP, INC. GROWTH ALLOCATION TRUST CAPITAL TRUST STOCK FUND FUND FUND FUND FUND FUND ------------ ---------- ---------- ---------- --------- ------------ INVESTMENTS: At fair value: The Maxim Group, Inc. common stock $1,595,670 $ 0 $ 0 $ 0 $ 0 $ 0 Mutual funds 0 1,192,835 690,345 141,250 679,851 0 Money market fund 0 0 0 0 0 0 At contract value: Collective trust 0 0 0 0 0 399,442 Loans to participants 0 0 0 0 0 0 ---------- ---------- -------- -------- -------- -------- Total investments 1,595,670 1,192,835 690,345 141,250 679,851 399,442 ---------- ---------- -------- -------- -------- -------- OTHER ASSETS: Participant contributions receivable 0 0 0 0 0 0 Employer contributions receivable 0 0 0 0 0 0 Accrued investment income 0 0 0 0 0 0 Due from broker 0 0 0 0 0 0 ---------- ---------- -------- -------- -------- -------- Total other assets 0 0 0 0 0 0 ---------- ---------- -------- -------- -------- -------- NET ASSETS AVAILABLE FOR BENEFITS $1,595,670 $1,192,835 $690,345 $141,250 $679,851 $399,442 ========== ========== ======== ======== ======== ========
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FUND INFORMATION ------------------------------------------------------------------ QUEST FOR VALUE AIM EQUITY EMERGING OPPORTUNITY INTERNATIONAL CONSTELLATION GROWTH PARTICIPANTS' FUND EQUITY FUND FUND FUND LOANS OTHER TOTAL ------------ ------------- ------------- --------- --------- --------- ---------- INVESTMENTS: At fair value: The Maxim Group, Inc. common stock $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $1,595,670 Mutual funds 2,853 11,194 7,074 12,135 0 0 2,737,537 Money market fund 0 0 0 0 0 313,575 313,575 At contract value: Collective trust 0 0 0 0 0 0 399,442 Loans to participants 0 0 0 0 105,675 0 105,675 ---------- ---------- -------- -------- -------- -------- ---------- Total investments 2,853 11,194 7,074 12,135 105,675 313,575 5,151,899 ---------- ---------- -------- -------- -------- -------- ---------- OTHER ASSETS: Participant contributions receivable 0 0 0 0 0 64,739 64,739 Employer contributions receivable 0 0 0 0 0 12,274 12,274 Accrued investment income 0 0 0 0 0 596 596 Due from broker 0 0 0 0 0 30,620 30,620 ---------- ---------- -------- -------- -------- -------- ---------- Total other assets 0 0 0 0 0 108,229 108,229 ---------- ---------- -------- -------- -------- -------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $ 2,853 $ 11,194 $ 7,074 $ 12,135 $105,675 $421,804 $5,260,128 ========== ========== ======== ======== ======== ======== ==========
The accompanying notes are an integral part of this statement. -7- THE MAXIM GROUP 401(k) PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION MARCH 31, 1996
FUND INFORMATION ----------------------------------------------------------------- FEDERAL THE MAXIM GLOBAL SECURITIES GROUP, INC. GROWTH ALLOCATION TRUST CAPITAL STOCK FUND FUND FUND FUND FUND ---------- -------- ---------- ---------- --------- ASSETS: Investments, at fair value: The Maxim Group, Inc. common stock $1,567,274 $ 0 $ 0 $ 0 $ 0 Mutual funds 0 671,602 588,130 91,653 629,770 Money market fund 0 0 0 0 0 Investments, at contract value: Loans to participants 0 0 0 0 0 Collective trust 0 0 0 0 0 ---------- -------- -------- ------- -------- Total investments 1,567,274 671,602 588,130 91,653 629,770 Cash 0 0 0 0 0 Accrued interest 0 0 0 0 0 Contributions receivable from participants 0 0 0 0 0 Contributions receivable from employer 0 0 0 0 0 ---------- -------- -------- ------- -------- Total assets 1,567,274 671,602 588,130 91,653 629,770 LIABILITIES: Due to broker for securities purchased (131) 22,409 14,139 3,558 14,198 ---------- -------- -------- ------- -------- NET ASSETS AVAILABLE FOR BENEFITS $1,567,405 $649,193 $573,991 $88,095 $615,572 ========== ======== ======== ======= ========
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FUND INFORMATION -------------------------- RETIREMENT PRESERVATION TRUST PARTICIPANTS' FUND LOANS OTHER TOTAL ----------- ------------ -------- --------- ASSETS: Investments, at fair value: The Maxim Group, Inc. common stock $ 0 $ 0 $ 0 $1,567,274 Mutual funds 0 0 0 1,981,155 Money market fund 0 0 494,967 494,967 Investments, at contract value: Loans to participants 0 94,645 0 94,645 Collective trust 362,513 0 0 362,513 -------- ------- -------- ---------- Total investments 362,513 94,645 494,967 4,500,554 Cash 0 0 85,625 85,625 Accrued interest 0 0 351 351 Contributions receivable from participants 0 0 92,500 92,500 Contributions receivable from employer 0 0 18,750 18,750 -------- ------- -------- ---------- Total assets 362,513 94,645 692,193 4,697,780 LIABILITIES: Due to broker for securities purchased 3,218 0 0 57,391 -------- ------- -------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $359,295 $94,645 $692,193 $4,640,389 ======== ======= ======== ==========
The accompanying notes are an integral part of this statement. -9- THE MAXIM GROUP 401(K) PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION FOR THE YEAR ENDED MARCH 31, 1997
PARTICIPANT-DIRECTED --------------------------------------------------------------- FEDERAL THE MAXIM GLOBAL SECURITIES GROUP, INC. GROWTH ALLOCATION TRUST CAPITAL STOCK FUND FUND FUND FUND FUND ---------- ------- ---------- ---------- ------- ADDITIONS: Participant contributions: Deferrals $ 244,119 $ 237,500 $142,177 $ 34,384 $153,653 Rollovers from other plans 14,225 16,802 10,075 2,484 11,282 ---------- ---------- -------- -------- -------- Total participant contributions 258,344 254,302 152,252 36,868 164,935 ---------- ---------- -------- -------- -------- Employer contributions 48,548 45,285 28,030 6,584 31,321 ---------- ---------- -------- -------- -------- Investment income: Dividends 0 82,146 60,143 8,331 65,414 ---------- ---------- -------- -------- -------- Net appreciation (depreciation) in fair value of investments 192,028 126,561 9,245 (2,857) (139) ---------- ---------- -------- -------- -------- TOTAL INVESTMENT INCOME 192,028 208,707 69,388 5,474 65,275 ---------- ---------- -------- -------- -------- TOTAL ADDITIONS 498,920 508,294 249,670 48,926 261,531 ---------- ---------- -------- -------- -------- DEDUCTIONS: Benefits paid to participants (398,608) (138,665) (164,060) (56,204) (239,333) ---------- ---------- -------- -------- -------- LOANS ISSUED TO PARTICIPANTS (6,417) (15,321) (8,559) (234) (5,182) ---------- ---------- -------- -------- -------- LOAN PRINCIPAL PAYMENTS 11,805 5,208 3,394 0 1,405 ---------- ---------- -------- -------- -------- INTERFUND TRANSFERS (77,435) 184,126 35,909 60,667 45,858 ---------- ---------- -------- -------- -------- NET INCREASE (DECREASE) 28,265 543,642 116,354 53,155 64,279 ---------- ---------- -------- -------- -------- NET ASSETS AVAILABLE FOR BENEFITS Beginning of the year 1,567,405 649,193 573,991 88,095 615,572 ---------- ---------- -------- -------- -------- End of the year $1,595,670 $1,192,835 $690,345 $141,250 $679,851 ========== ========== ======== ======== ========
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PARTICIPANT-DIRECTED ------------------------------------------------------------------------- RETIREMENT PRESERVATION EMERGING TRUST OPPORTUNITY INTERNATIONAL CONSTELLATION GROWTH FUND VALUE FUND EQUITY FUND FUND FUND ------------ ----------- ------------- ------------- --------- ADDITIONS: Participant contributions: Deferrals $ 35,158 $ 730 $ 295 $ 773 $ 1,868 Rollovers from other plans 10,012 840 10,549 2,513 11,095 -------- ------ ------- ------- ------- Total participant contributions 45,170 1,570 10,844 3,286 12,963 -------- ------ ------- ------- ------- Employer contributions 10,224 148 71 150 333 -------- ------ ------- ------- ------- Investment income: Dividends 17,448 0 476 41 0 Net appreciation (depreciation) in fair value of investments 0 (83) (204) (735) (1,265) -------- ------ ------- ------- ------- TOTAL INVESTMENT INCOME 17,448 (83) 272 (694) (1,265) -------- ------ ------- ------- ------- TOTAL ADDITIONS 72,842 1,635 11,187 2,742 12,031 -------- ------ ------- ------- ------- DEDUCTIONS: Benefits paid to participants (311,623) 0 0 0 0 -------- ------ ------- ------- ------- LOANS ISSUED TO PARTICIPANTS 0 0 0 0 0 -------- ------ ------- ------- ------- LOAN PRINCIPAL PAYMENTS 0 104 7 0 104 -------- ------ ------- ------- ------- INTERFUND TRANSFERS 278,928 1,114 0 4,332 0 -------- ------ ------- ------- ------- NET INCREASE (DECREASE) 40,147 2,853 11,194 7,074 12,135 NET ASSETS AVAILABLE FOR BENEFITS Beginning of the year 359,295 0 0 0 0 -------- ------ ------- ------- ------- End of the year $399,442 $2,853 $11,194 $7,074 $12,135 ======== ====== ======= ======= =======
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PARTICIPANT-DIRECTED -------------------- PARTICIPANTS' LOANS OTHER TOTAL ------------- --------- ---------- ADDITIONS: Participant contributions: Deferrals $ $ (27,761) $ 822,896 Rollovers from other plans 0 5,235 95,112 -------- --------- ---------- Total participant contributions 0 (22,526) 918,008 -------- --------- ---------- Employer contributions 0 (6,476) 164,218 -------- --------- ---------- Investment income: Dividends 0 79,715 313,714 -------- --------- ---------- Net appreciation (depreciation) in fair value of investments 0 0 322,551 -------- --------- ---------- TOTAL INVESTMENT INCOME 0 79,715 636,265 -------- --------- ---------- TOTAL ADDITIONS 0 50,713 1,718,491 -------- --------- ---------- DEDUCTIONS: Benefits paid to participants (2,656) 212,397 (1,098,752) -------- --------- ---------- LOANS ISSUED TO PARTICIPANTS 35,713 0 0 -------- --------- ---------- LOAN PRINCIPAL PAYMENTS (22,027) 0 0 -------- --------- ---------- INTERFUND TRANSFERS 0 (533,499) 0 -------- --------- ---------- NET INCREASE (DECREASE) 11,030 (270,389) 619,739 -------- --------- ---------- NET ASSETS AVAILABLE FOR BENEFITS Beginning of the year 94,645 692,193 4,640,389 -------- --------- ---------- End of the year $105,675 $ 421,804 $5,260,128 ======== ========= ==========
The accompanying notes are an integral part of this statement. -12- THE MAXIM GROUP 401(K) PLAN NOTES TO FINANCIAL STATEMENTS AND SCHEDULES MARCH 31, 1997 AND 1996 1. DESCRIPTION OF PLAN The following description of The Maxim Group 401(k) Plan (the "Plan") is provided for general informational purposes only. Participants should refer to the plan document for more complete information. GENERAL The Plan is a defined contribution plan covering substantially all employees of The Maxim Group, Inc. and its wholly owned subsidiaries (the "Company"). Employees are eligible to participate in the Plan after completing one year of service. Plan entry dates are the first day of each calendar quarter. The Plan was adopted effective April 1, 1994 and is subject to the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended. Effective April 1, 1997, the Plan was amended to change plan entry dates to the first day of each month. CONTRIBUTIONS Participants can elect to contribute up to 20% of their pretax salaries to the Plan subject to certain limitations of the Internal Revenue Code. The Company may provide discretionary matching contributions up to 25% of the first 6% of compensation that a participant defers as a pretax contribution. For 1997 and 1996, the Company matched at this rate. PARTICIPANT ACCOUNTS Each participant's account is credited with the participant's contribution, the Company's matching contribution, and an allocation of investment earnings. Investment earnings are allocated to participants based on proportionate account balances in individual investment funds. VESTING Participants are 100% vested in their own contributions. After one year of employment, participants vest ratably over five years in the Company's matching contributions, such that they become fully vested after six years of service. Participants become fully vested upon death, disability, or reaching normal (65) or early retirement age (55). -13- PLAN TERMINATION Although the Company has not expressed any intent to do so, it has the right to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event the Plan terminates, each participant shall become fully vested in his/her account balance as of the termination date. ADMINISTRATIVE EXPENSES Administrative expenses of the Plan are paid by the Company. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The accompanying financial statements have been prepared on the accrual basis of accounting. INVESTMENTS Investments are recorded primarily at fair value as determined by quotations of national securities exchanges. Purchases and sales of investment securities are recorded on a trade date basis. The average cost method is used in determining the cost of investments sold. American Institute of Certified Public Accountants Statement of Position, "Reporting of Investment Contracts Held by Health and Welfare Benefit Plans and Defined Contribution Pension Plans," permits reporting of investment contracts that are fully benefit-responsive at contract value. The Plan's investment in the Merrill Lynch Retirement Preservation Trust, a collective trust which invests in guaranteed investment contracts, is fully benefit- responsive and is presented at contract value in the accompanying statements of net assets available for benefits, with fund information. -14- 3. INVESTMENTS The following investments represent 5% or more of the Plan's net assets as of March 31, 1997 and 1996:
1997 1996 ---------- ---------- The Maxim Group, Inc. common stock $1,595,670 $1,567,274 Mutual funds administered by Merrill Lynch: Growth Fund (Class D and Class B, respectively) 1,192,835 671,602 Global Allocation Fund (Class D and Class B, respectively) 690,345 588,130 Capital Fund (Class D and Class B, respectively) 679,851 629,770 Other funds administered by Merrill Lynch: Retirement Preservation Trust 399,442 362,513 CMA Money Fund 313,575 494,967
The net appreciation in fair value of investments, by type of investment, for the year ended March 31, 1997 is as follows: Common stock $192,028 Mutual funds 130,523 -------- $322,551 ======== 4. FEDERAL INCOME TAXES The Plan received a favorable determination letter from the Internal Revenue Service on November 1, 1995 stating that the Plan was designed in accordance with applicable Internal Revenue Code requirements. The Plan has been amended since receiving the letter; however, the plan administrator believes that the Plan is currently designed and is being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, the plan administrator believes that the Plan was qualified and the related trust tax-exempt as of March 31, 1997 and 1996. -15- SCHEDULE I THE MAXIM GROUP 401(K) PLAN ITEM 27A--SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES MARCH 31, 1997
NUMBER OF SHARES/ CURRENT DESCRIPTION OF INVESTMENT UNITS COST VALUE - - ----------------------------------------------------- ---------- ---------- ---------- COMMON STOCK: * The Maxim Group, Inc. 120,428 (a) $1,595,670 MUTUAL FUNDS: * Merrill Lynch Growth Fund (Class D shares) 45,563 $1,145,116 1,192,835 * Merrill Lynch Global Allocation Fund (Class D shares) 46,771 702,022 690,345 * Merrill Lynch Federal Securities Trust Fund (Class D shares) 15,027 142,911 141,250 * Merrill Lynch Capital Fund (Class D shares) 21,693 664,821 679,851 * Merrill Lynch Retirement Preservation Trust 399,442 399,442 399,442 * Merrill Lynch International Equity Fund (Class D shares) 963 11,399 11,194 MFS Emerging Growth Fund (Class A shares) 416 13,401 12,135 Oppenheimer Quest Funds--Opportunity Value Fund (Class A shares) 94 2,937 2,853 AIM CONSTELLATION FUND (Retail A Shares) 300 7,809 7,074 * CMA Money Fund 313,575 313,575 313,575 OTHER: * Loans to participants, with interest rates ranging from 9% to 9.5% N/A 105,675 105,675 ---------- $5,151,899 ==========
*Represents a party in interest. (a) Historical cost information is unable to be provided due to the nature of the custodian's record-keeping system. This amount has been intentionally omitted. The accompanying notes are an integral part of this schedule. -16- SCHEDULE II THE MAXIM GROUP 401(K) PLAN ITEM 27D--SCHEDULE OF REPORTABLE TRANSACTIONS (a) FOR THE YEAR ENDED MARCH 31, 1997
SALES PURCHASES ---------------------------------------------- ------------------------ NET NUMBER OF NUMBER OF SELLING GAIN DESCRIPTION OF ASSETS TRANSACTIONS COST TRANSACTIONS COST PRICE (LOSS) ----------------------------------------------- ------------ ---------- ------------ ---------- ---------- -------- COMMON STOCK: * The Maxim Group, Inc. common stock 80 $1,926,308 94 (b) $ 885,938 (b) MUTUAL FUNDS: * Merrill Lynch Growth Fund--Class B 25 163,064 42 $ 769,967 906,330 $136,363 * Merrill Lynch Global Allocation Fund--Class B 18 119,909 39 662,083 729,825 67,742 * Merrill Lynch Capital Fund--Class B 21 154,847 42 732,978 768,079 35,101 * Merrill Lynch Retirement Preservation Trust 267 537,969 33 501,040 501,040 0 * Merrill Lynch Growth Fund--Class D 54 1,246,020 38 100,904 108,083 7,179 * Merrill Lynch Global Allocation Fund--Class D 60 759,643 34 57,621 56,757 (864) * Merrill Lynch Capital Fund--Class D 47 706,313 26 41,492 42,863 1,371 MONEY MARKET FUND: * CMA Money Fund 73 1,788,841 79 2,283,308 2,283,808 0
- - ---------------- * Represents a party in interest. (a) Represents a transaction or a series of transactions in excess of 5% of the current value of plan assets as of the beginning of the year. (b) In accordance with the Department of Labor Rules and Regulations for Reporting and Disclosure, the cost presented should be the historical cost of the assets. However, the custodian is unable to provide these amounts due to the nature of its record-keeping system. These amounts have been intentionally omitted. The accompanying notes are an integral part of this schedule. -17- S I G N A T U R E S Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan has caused this annual report to be signed on the 10th day of October, 1997, by the undersigned thereunto duly authorized. THE MAXIM GROUP, INC. 401(k) PLAN By: /s/ Thomas P. Leahey --------------------------------- Thomas P. Leahey Executive Vice President, Finance (Plan Administrator) -18 EX-23 2 CONSENT OF ARTHUR ANDERSEN EXHIBIT 2(a) CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation by reference of our report dated October 10, 1997 which appears in Exhibit 99 of this amendment No. 2 to the Annual Report on Form 10-K/A for the fiscal year ended January 31, 1997 of The Maxim Group, Inc. into the Company's previously filed Registration Statements on Form S-8. /S/Arthur Andersen LLP Atlanta, GA October 10, 1997 -19- -----END PRIVACY-ENHANCED MESSAGE-----