Modular Medical Inc. (MODD)

[pennypauly]

Common stock

On July 24, 2017, pursuant to the Acquisition Agreement, the Company acquired one hundred percent (100%) of the issued and outstanding shares of Quasuras for 7,582,060 shares of the Company, resulting in Quasuras becoming a wholly-owned subsidiary of the Company. The historical equity for Quasuras was restated pursuant to the reorganization.

The Company has 50,000,000 shares of Common Stock authorized. The par value of the shares is $0.001. During the three months ended December 31, 2018, 1,786,432 shares of Common Stock were issued for a private placement at $4,019,478, including legal fees of $35,563. During the three months ended December 31, 2018, 30,000 shares of Common Stock were issued for cash of $19,800. As of December 31, 2018, 17,799,705 shares of Common Stock of the Company were issued and outstanding.

Preferred Stock

The Company has 5,000,000 shares of preferred stock authorized. The par value of the shares is $0.001. As of December 31, 2018, none of the shares of preferred stock of the Company were issued.