Business Context and Reporting Period
Company: Modular Medical, Inc. (MODD)
Filing Type: Form 8-K (Current Report)
Date of Report: June 30, 2025
Reporting Period: Event date June 30, 2025; Compliance deadline December 29, 2025
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on stock listing compliance.
Material Changes
- Listing Deficiency: The Company received notice from Nasdaq that its Common Stock failed to maintain the minimum bid price of $1.00 per share for 30 consecutive business days ending June 27, 2025.
- Regulatory Action: The Company is in violation of Nasdaq Listing Rule 5550(a)(2).
Outlook, Risks, and Management Commentary
- Compliance Period: The Company has been granted an initial 180-day period (until December 29, 2025) to regain compliance.
- Remediation Requirement: To comply, the closing bid price must be at least $1.00 per share for 10 consecutive business days within the 180-day window.
- Secondary Compliance Option: If the initial period is unsuccessful, the Company may seek a second 180-day period if it meets other listing standards (e.g., market value of publicly held shares) and intends to cure the deficiency, potentially via a reverse stock split.
- Delisting Risk: Immediate delisting is not occurring. However, failure to cure the deficiency within the allowed periods may result in delisting from the Nasdaq Capital Market.
- Management Action: The Company is monitoring the stock price and considering available options.
Investor Verification Checklist
- Verify the current closing bid price of MODD stock relative to the $1.00 threshold.
- Monitor the Company's stock price for 10 consecutive days of compliance above $1.00.
- Review future filings for announcements regarding a potential reverse stock split.
- Check for any additional Nasdaq correspondence regarding the Company's eligibility for a second compliance period.