Modular Medical Inc. (MODD)

[pennypauly]

As of December 31, 2018, we had total current assets of $7,159,698 of which $7,137,876 were cash and cash equivalents, and current liabilities of $62,932. As of March 31, 2018, we had total current assets of $4,313,480 and current liabilities of $15,471. As of December 31, 2018 and March 31, 2018, we had working capital of approximately of $7,096,766 and $4,298,009, respectively.

Net Cash Used In Operating Activities :
We used $1,106,941 of cash to fund operating activities during nine month ended December 31, 2018, compared to $544,837 in 2017. Increased cash usage in 2018 was driven by greater operating losses deriving from development. We reported net losses of $1,532,545 and $477,863 for the nine months ended December 31, 2018 and 2017, respectively.

Net Cash Provided By Investing Activities :
We used $55,058 and $13,262 of cash to purchase equipment and intangible assets during the nine month ended December 31, 2018 and 2017, respectively.

Net Cash Acquired In Financing Activities :
We acquired $4,003,199 of cash from financing activities for nine month ended December 31, 2018, compared to $4,676,144 in 2017.