In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Modular Medical Inc. (OTCMKTS:MODD) reported that Manchester Explorer, L.p. has picked up 5,664,690 of common stock as of 2017-08-03.
The acquisition brings the aggregate amount owned by Manchester Explorer, L.p. to a total of 5,664,690 representing a 35.44% in the company.
For those not familiar with the company, Modular Medical, Inc., formerly Bear Lake Recreation, Inc., is a shell company. The Company is seeking and investigating potential assets, property or businesses to acquire. As of June 30, 2016, the Company had not generated any revenues. The Company’s initial operations consist of renting snowmobiles and all-terrain vehicles (ATVs).
A glance at Modular Medical Inc.(OTCMKTS:MODD)’s key stats reveals a current market capitalization of 337,450.00 based on 3.50M shares outstanding and a price at last close of $0.270 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-07-24, Manchester picked up 5,664,690 at a purchase price of $0.66 per share.This brings their total holding to 5,664,690 as of the date of the filing.
On the sell side, the most recent transaction saw Albiston unload 6,667 shares at a sale price of $0.02. This brings their total holding to 15,000.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Modular Medical Inc. (OTCMKTS:MODD) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.