<SEC-DOCUMENT>0001019056-17-000635.txt : 20170801
<SEC-HEADER>0001019056-17-000635.hdr.sgml : 20170801
<ACCEPTANCE-DATETIME>20170801104201
ACCESSION NUMBER:		0001019056-17-000635
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170724
FILED AS OF DATE:		20170801
DATE AS OF CHANGE:		20170801

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BESSER JAMES E
		CENTRAL INDEX KEY:			0001512127

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49671
		FILM NUMBER:		17995475

	MAIL ADDRESS:	
		STREET 1:		3 WEST HILL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02114

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FRANK MORGAN C.
		CENTRAL INDEX KEY:			0001593072

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49671
		FILM NUMBER:		17995476

	MAIL ADDRESS:	
		STREET 1:		1398 AERIE DRIVE
		CITY:			PARK CITY
		STATE:			UT
		ZIP:			84060

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MANCHESTER MANAGEMENT CO LLC
		CENTRAL INDEX KEY:			0001169253

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49671
		FILM NUMBER:		17995478

	BUSINESS ADDRESS:	
		STREET 1:		3 WEST HILL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6178568995

	MAIL ADDRESS:	
		STREET 1:		3 WEST HILL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Manchester Explorer, L.P.
		CENTRAL INDEX KEY:			0001411524
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49671
		FILM NUMBER:		17995477

	BUSINESS ADDRESS:	
		STREET 1:		MANCHESTER MANAGEMENT COMPANY, L.L.C
		STREET 2:		3 WEST HILL PLACE
		CITY:			Boston
		STATE:			ma
		ZIP:			02114
		BUSINESS PHONE:		617-399-1740

	MAIL ADDRESS:	
		STREET 1:		MANCHESTER MANAGEMENT COMPANY, L.L.C
		STREET 2:		3 WEST HILL PLACE
		CITY:			Boston
		STATE:			ma
		ZIP:			02114

	FORMER NAME:	
		FORMER CONFORMED NAME:	Manchester Explorer LP
		DATE OF NAME CHANGE:	20070904

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Modular Medical, Inc.
		CENTRAL INDEX KEY:			0001074871
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				870620495
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3 WEST HILL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617-856-8995

	MAIL ADDRESS:	
		STREET 1:		3 WEST HILL PLACE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BEAR LAKE RECREATION INC
		DATE OF NAME CHANGE:	19981208
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>modular_4.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2017-07-24</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001074871</issuerCik>
        <issuerName>Modular Medical, Inc.</issuerName>
        <issuerTradingSymbol>MODD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001169253</rptOwnerCik>
            <rptOwnerName>MANCHESTER MANAGEMENT CO LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3 WEST HILL PLACE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02110</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001411524</rptOwnerCik>
            <rptOwnerName>Manchester Explorer, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>MANCHESTER MANAGEMENT COMPANY, L.L.C</rptOwnerStreet1>
            <rptOwnerStreet2>3 WEST HILL PLACE</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02114</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001593072</rptOwnerCik>
            <rptOwnerName>FRANK MORGAN C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1398 AERIE DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PARK CITY</rptOwnerCity>
            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84060</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001512127</rptOwnerCik>
            <rptOwnerName>BESSER JAMES E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3 WEST HILL PLACE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02114</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2017-07-24</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>2900000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.13</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2017-07-24</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5664690</value>
                    <footnoteId id="F4"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.66</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5664690</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F5"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This Form 4 is being filed by Manchester Explorer, L.P. (&quot;Explorer&quot;), Manchester Management Company, LLC (&quot;&quot;MMC&quot;&quot;), James E. Besser and Morgan C. Frank as 10% Owners, and by Messrs. Frank and Besser as Director. On July 24, 2017 Mr. Besser resigned as a Director of Modular Medical, Inc.</footnote>
        <footnote id="F2">On July 24, 2017, Modular Medical, Inc. (the &quot;Company&quot;) entered into a Reorganization and Share Exchange Agreement with Messrs. Frank and Besser, Quasuras Inc. (&quot;Quasuras&quot;) and Paul DiPerna (the &quot;Acquisition Agreement&quot;), pursuant to which, among other items, the Company acquired Quasuras and Messrs Frank and Besser exchanged their shares of Quasuras for shares of the Company and as a result received in the aggregate 361,660 shares (180,830 each) of the Company's common stock (the &quot;Acquisition&quot;). Additionally, simultaneously and as a condition to the Acquisition and the Private Placement (as defined below), Explorer cancelled all 2,900,000 shares of common stock owned by Explorer prior to the Acquisition.</footnote>
        <footnote id="F3">Simultaneously with the Acquisition, Explorer and Jeb Partners, LP, an affiliate of the reporting persons (&quot;JEBP&quot;) purchased in a private placement by the Company (the &quot;Private Placement&quot;) 4,545,455 shares and 757,576 shares of the Company's common stock, respectively. A $375,000 portion of the purchase price of the shares acquired by Explorer in the Private Placement was paid by crediting Explorer $375,000 against such purchase price paid by Explorer for the 2,900,000 shares cancelled by Explorer.</footnote>
        <footnote id="F4">The reported 5,664,690 shares consists of (i) 4,545,455 shares purchased by Explorer in the Private Placement, (ii) 757,576 shares owned by JEBP acquired in the Private Placement, (iii) 180,830 shares owned and acquired by Mr. Frank in the Acquisition, and (iv) 180,830 shares owned and acquired by Mr. Besser in the Acquisition. As a result of the above, MMC and Explorer may be deemed to beneficially own 5,664,690 shares, and each of Messrs. Besser and Frank may be deemed to beneficially own 5,483,860 shares. Each of such persons, however, disclaims beneficial ownership of all shares other than those shares directly owned by it.</footnote>
        <footnote id="F5">. MMC, provides investment management services to Explorer and JEBP. The reported securities may be deemed indirectly beneficially owned by MMC as a result of it being the general partner of Explorer and JEBP. The reported securities may also be deemed to be indirectly beneficially owned by James E. Besser, as a Managing Member of MMC and by Morgan C. Frank, who serves as a portfolio manager and a consultant of MMC. Each of the Reporting Persons disclaim beneficial ownership of the reported securities and warrants except to the extent of their pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Manchester Management Company, LLC By: /s/ James E. Besser, Managing Member</signatureName>
        <signatureDate>2017-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Manchester Explorer, L.P. By: /s/ James E. Besser, Managing Member of the General Partner</signatureName>
        <signatureDate>2017-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>James E. Besser By: /s/ James E. Besser</signatureName>
        <signatureDate>2017-08-01</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Morgan C. Frank By: /s/ Morgan C. Frank</signatureName>
        <signatureDate>2017-08-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
