Modular Medical, Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Recent Sales of Unregistered Securities From April 1, 2021 through June 30, 2021, we sold, at par, to accredited investors in a private placement $6,610,550 aggregate principal amount of our 12% unsecured convertible promissory notes, due 12 months from each respective issuance date, at par, and warrants to purchase in the aggregate 2,303,348 shares of our common stock at an exercise price of $8.00 per share, exercisable for a 5-year period, as provided in such warrants. Such sales were made pursuant to exemptions from registration pursuant to Section 4(2) and/or Rule 506 of Regulation D of the Securities Act. We made such determinations based upon representations by the purchasers of such securities including, without limitation, that such purchasers were “accredited investors” as defined in the Securities Act. 17 Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.