What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2024-06-21 compared with 2023-06-26 · 43 added, 70 removed, 2 unchanged (98% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY,

RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

for Common Stock

Our common stock is currently listed on the Nasdaq Capital

Market under the symbol “MODD.”

Holders of Record

As of March 31, 2023, we had approximately

70 stockholders of record.

The actual number of stockholders is greater than this number of stockholders of record and includes stockholders

who are beneficial owners but whose shares are held in street name by brokers and other nominees.

This number of stockholders of record

also does not include stockholders whose shares may be held in trust by other entities.

Securities Authorized for Issuance

under Equity Compensation Plan

For information regarding securities authorized

for issuance under equity compensation plans, please refer to Item 12, Security Ownership of Certain Beneficial Owners and Management

and Related Stockholder Matters .

Dividend Policy

We have never declared or paid any

cash dividend on our capital stock.

We do not anticipate paying any cash dividends in the foreseeable future and we intend to retain all

of our earnings, if any, to finance our growth and operations and to fund the expansion of our business.

Payment of any dividends will

be made in the discretion of our board of directors, after taking into account various factors, including our financial condition, operating

results, current and anticipated cash needs and plans for expansion.

Any dividends that may be declared or paid on our common stock, must

also be paid in the same consideration or manner, as the case may be, on our shares of preferred stock, if any.

Recent Sales of Unregistered Securities

Set forth below is information regarding

securities issued by us within the past three years that were not registered under the Securities Act.

Also included is the consideration,

if any, received by us for such issuances, and information relating to the section of the Securities Act, or rule of the Securities and

Exchange Commission, under which exemption from registration was claimed.

Director Compensation

On each of March 31, 2023, December 30, 2022,

and September 30, 2022 we issued 6,375 shares of our common stock to four of our non-employee directors in accordance with our Outside

Director Compensation Plan (the “Director Plan”).

On August 8, 2022, we issued 5,000 shares of our common stock to two of

our non-employee directors in accordance with the Director Plan.

On June 30, 2022, we issued 2,664 shares of our common stock to two of

our non-employee directors in accordance with the Director Plan.

On March 31, 2022, we issued 15,250 shares of our common stock to

four of our non-employee members of our board of directors in accordance with the Director Plan.

On December 31, 2021, we issued 5,775

shares of our common stock to four of our non-employee members of our board of directors in accordance with the Director Plan.

30, 2021, we issued 3,636 shares of our common stock to four of our non-employee directors in accordance with the Director Plan.

30, 2021, we issued 1,836 shares of our common stock to four of our non-employee directors in accordance with the Director Plan.

In March 2023, we issued 10,000 shares of our

common stock to a service provider.

In March 2023, we issued 478 shares of our common stock to a service provider.

In February 2023, we

issued 438 shares of our common stock to a service provider.

In May 2022, we issued 348 shares of our common stock to a service provider.

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Information for Common Stock

stock is currently listed on the Nasdaq Capital Market under the symbol “MODD.”

The Company is authorized

by its Certificate of Incorporation to issue an aggregate of up to 5,000,000 shares of preferred stock, $0.001 par value per share, and

100,000,000 shares of common stock, $0.001 par value per share.

As of March 31, 2024, zero and 32,463,670 shares of preferred stock and

common stock, respectively, were issued and outstanding.

of March 31, 2024, we had 69 stockholders of record.

The actual number of stockholders is greater than this number of stockholders of

record and includes stockholders who are beneficial owners but whose shares are held in street name by brokers and other nominees.

number of stockholders of record also does not include stockholders whose shares may be held in trust by other entities.

Authorized for Issuance under Equity Compensation Plan

information regarding securities authorized for issuance under equity compensation plans, please refer to Item 12, Security Ownership

of Certain Beneficial Owners and Management and Related Stockholder Matters .

have never declared or paid any cash dividend on our capital stock.

We do not anticipate paying any cash dividends in the foreseeable

future and we intend to retain all of our earnings, if any, to finance our growth and operations and to fund the expansion of our business.

Payment of any dividends will be made in the discretion of our board of directors, after taking into account various factors, including

our financial condition, operating results, current and anticipated cash needs and plans for expansion.

Any dividends that may be declared

or paid on our common stock, must also be paid in the same consideration or manner, as the case may be, on our shares of preferred stock,

Sales of Unregistered Securities

forth below is information regarding securities issued by us within the past two years that were not registered under the Securities

Also included is the consideration, if any, received by us for such issuances, and information relating to the section of the Securities

Act, or rule of the Securities and Exchange Commission, under which exemption from registration was claimed.

each of March 31, 2024, December 30, 2023, and June 30, 2023 we issued 6,375 shares of our common stock to four of our non-employee directors

in accordance with our Outside Director Compensation Plan (the “Director Plan”).

On September 30, 2023, we issued 6,265 shares

of our common stock to four of our non-employee directors in accordance with the Director Plan.

On March 31, 2023, December 30, 2022

and September 30, 2022, we issued 6,375 shares of our common stock to four of our non-employee directors in accordance with the Director

On August 8, 2022, we issued 5,000 shares of our common stock to two of our non-employee directors in accordance with the Director

On June 30, 2022, we issued 2,664 shares of our common stock to two of our non-employee directors in accordance with the Director

August 2023, we issued 1,429 shares of our common stock to a service provider.

In March 2023, we issued 10,000 shares of our common stock

to a service provider.

In March 2023, we issued 478 shares of our common stock to a service provider.

In January 2022, we issued 16,666 shares of our common

stock to service providers.

In October 2021, we issued 8,334 shares of our common stock to service providers.

In April 2021, we issued

In February 2023, we issued 438

shares of our common stock to a service provider.

In May 2022, we issued warrants in a private placement

to purchase an aggregate of 1,438,202 shares of common stock at an exercise price of $6.60 per share.

The warrants were exercisable six

months from the date of issuance and have a five-year term from the date the warrants become exercisable.

Officer Purchases of Common Stock

In October 2021, we sold to two of our executive

officers a total of 30,864 shares of our common stock at a purchase price of $8.10 per share, which resulted in gross proceeds to us of

2021 Placement

Between February and May 2021, we issued

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 761,912 shares of our common stock

at an exercise price of $24.00 per share, exercisable for a 5-year period, as provided in such warrants.

In May 2022, we issued 348 shares of our common stock to a service provider.

May 2022, we issued warrants in a private placement to purchase an aggregate of 1,438,202 shares of common stock at an exercise price

of $6.60 per share.

The warrants were exercisable six months from the date of issuance and have a five-year term from the date the warrants

become exercisable.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity