secwatch.observer — SEC 8-K summary
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Issuer:     Modular Medical, Inc. (MODD)
CIK:        0001074871
Form:       8-K
Filed at:   2026-02-24T23:59:59+00:00
Accession:  0001213900-26-019603
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Modular Medical secures $350K revolving credit facility from CEO; 12% interest, secured by all assets
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- $350,000 revolving credit facility from CEO James E. Besser (Manchester Explorer, L.P.).
- 12% interest; maturity March 25, 2026; secured by all assets and intellectual property.
- No borrowings as of filing date; accelerated repayment if company receives >$2M equity proceeds.
- Draw amounts minimum $50K; maximum $350K less outstanding; optional prepayment without penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074871/000121390026019603/0001213900-26-019603-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074871/000121390026019603/ea0278049-8k_modular.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-019603

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