<SEC-DOCUMENT>0001019056-19-000541.txt : 20191119
<SEC-HEADER>0001019056-19-000541.hdr.sgml : 20191119
<ACCEPTANCE-DATETIME>20191008145415
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001019056-19-000541
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20191008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Modular Medical, Inc.
		CENTRAL INDEX KEY:			0001074871
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				870620495
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		800 WEST VALLEY PARKWAY
		STREET 2:		SUITE 203
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92025
		BUSINESS PHONE:		949-370-9062

	MAIL ADDRESS:	
		STREET 1:		800 WEST VALLEY PARKWAY
		STREET 2:		SUITE 203
		CITY:			ESCONDIDO
		STATE:			CA
		ZIP:			92025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BEAR LAKE RECREATION INC
		DATE OF NAME CHANGE:	19981208
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><IMG SRC="modularcorresp001.jpg" ALT="(LOGO)"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD COLSPAN="3" NOWRAP>October 8, 2019</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt"><B><U>VIA EDGAR</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Securities and
Exchange Commission</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Division of
Corporation Finance</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">100 F Street,
N.E.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Washington,
D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Attn: Gary Newberry</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 94.3pt; text-align: right"><FONT STYLE="font-size: 10pt">Re:</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Modular Medical, Inc.</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 94.3pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Form 10-K for the Fiscal
Year Ended March 31, 2019, Filed June 27, 2019 &#9;<BR>
Amendment No. 1 to Form 10-Q for the Quarterly Period Ended June 30, &#9;2019,
<BR>
Filed August 21, 2019</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 94.3pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">File
                                         No. 000-49671</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 94.5pt; text-align: justify; text-indent: -94.5pt"><FONT STYLE="font-size: 10pt">Dear
Mr. Newberry:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Modular
Medical, Inc. (the &ldquo;<U>Company</U>&rdquo;) hereby submits this letter in response to comments from the Staff (the &ldquo;<U>Staff</U>&rdquo;)
of the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;) set forth in its letter dated September 13, 2019
(the &ldquo;<U>Comment Letter</U>&rdquo;) relating to the above-referenced filings (collectively, the &ldquo;<U>Filings</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Set
forth below in bold are the Staff&rsquo;s comments from the Comment Letter. For your convenience, each of the numbered paragraphs
below corresponds to the numbered comment in the Comment Letter and includes the caption used in the Comment Letter. Immediately
following each comment is the Company&rsquo;s response to that comment. Defined terms used but not otherwise defined herein have
the meanings ascribed to such terms in the Filings.</FONT><FONT STYLE="font-size: 10pt">&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Amendment
No. 1 to Form 10-Q for Quarterly Period Ended June 30, 2019</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Note
1 &ndash; Organization and Summary of Significant Accounting Policies Earning Per Share (&ldquo;EPS&rdquo;), page 9</U></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1.</B></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>We
                                         note that you do not quantify the amount of securities that could potentially dilute
                                         basic EPS in the future as required by ASC 260-10-50-1(c). Please revise future filings
                                         to </B>i<B>nclude this information</B>.</FONT><FONT STYLE="font-size: 10pt"><B> </B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">In response to the Staff&rsquo;s
comment, the Company has added the required disclosure to quantify the amount of securities that could potentially dilute basic
EPS in the future as required by ASC 260-10-50-1(c). Currently, the only potentially dilutive securities are stock options granted
to the Company&rsquo;s employees, directors and consultants. The Company will also include this disclosure in the financial statements
in future filings. Set forth below is the disclosure that the Company will include in the amended 10-Q for the three month period
ended June 30, 2019:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;For
the three months ended June 30, 2019, the Company excluded 1,552,594 options to purchase common stock from the computation of
diluted loss per share, as their inclusion would be anti-dilutive.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt; color: #2E74B5"><I>800
West Valley Parkway, Suite 203, Escondido, CA 92025 - 760.392.1343 &ndash; </I></FONT><I><FONT STYLE="font-size: 10pt; color: blue"><U>modular-medical.com</U></FONT></I></P>





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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="modularcorresp001.jpg" ALT="(LOGO)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Item
4. Controls and Procedures, page 15</U></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>We
                                         note the disclosures presented in this section relating to management&rsquo;s assessment
                                         of the effectiveness of your internal control over financial reporting (ICFR) at March
                                         31, 2019 and management&rsquo;s conclusion that your ICFR was not effective at that date.
                                         Please amend your Form 10-Q to provide the required disclosure regarding the conclusion
                                         of your principal executive and principal financial officers on the effectiveness of
                                         your disclosure controls and procedures as of the end of the period covered by the report
                                         (i.e., June 30, 2019), based on the evaluation of these controls and procedures required
                                         by Exchange Act Rules 13a-15 and 15d-15. Please note that the disclosures outlined in
                                         Item 307 of Regulation S-K and required by Item 4 of Form 10-Q are separate from the
                                         annual ICFR disclosures required by Item 308(a) of Regulation S-K.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">We
acknowledge that the disclosures presented in Item 4 did not include the required disclosure regarding the conclusion of our principal
executive and principal financial officer on the effectiveness of our disclosure controls and procedures as of June 30, 2019,
based on the evaluation of these controls and procedures required by Exchange Act Rules 13a-15 and 15d-15. We will amend and re-file
our Form 10-Q for the quarterly period ended June 30, 2019. We will notify the Staff when we complete the re-filing. We will revise
Item 4 to include the disclosures set forth below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt"><I>&ldquo;Disclosure
Controls and Procedures.</I> Our management is responsible for establishing and maintaining adequate internal control over our
financial reporting. Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; color: #2E74B5"><I>800
West Valley Parkway, Suite 203, Escondido, CA 92025 - 760.392.1343 &ndash; </I></FONT><I><FONT STYLE="font-size: 10pt; color: blue"><U>modular-medical.com</U></FONT></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center; text-indent: 0"><IMG SRC="modularcorresp001.jpg" ALT="(LOGO)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Under
the supervision and with the participation of our management, including our Chief Executive Officer, we conducted an evaluation
of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and
15d-15(e) under the Securities Exchange Act of 1934. Based upon that evaluation, our management concluded that our Company&rsquo;s disclosure
controls and procedures were not effective as of the end of the period covered by this report, as noted below in management&rsquo;s
report on internal control over financial reporting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Changes
in Internal Control over Financial Reporting.</I> During the three months ended June 30, 2019, there was no change in our internal
control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control
over financial reporting.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Please
contact either me or our outside counsel copied hereon, Lawrence Nusbaum of Gusrae Kaplan Nusbaum PLLC, at 212-269-1400, with
any questions that you may have.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
Company hereby respectfully submits this letter as of the date first above written.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: left; padding: 0; text-indent: 0">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">/s/ Paul DiPerna</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-indent: 0; padding: 0">Paul DiPerna</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left; padding: 0; text-indent: 0">Chairman, Chief Executive Officer,<BR>
 Chief Financial Officer, Secretary and Treasurer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">CC:
Lawrence G. Nusbaum, Esq.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; color: #2E74B5"><I>800
West Valley Parkway, Suite 203, Escondido, CA 92025 - 760.392.1343 &ndash; </I></FONT><I><FONT STYLE="font-size: 10pt; color: blue"><U>modular-medical.com</U></FONT></I></P>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
