# Modular Medical, Inc.: Form 10-Q for the period ended Sep 30, 2010 - Company: [Modular Medical, Inc.](/companies/modd.md) (CIK 1074871) - Form: 10-Q - Filed: 2010-10-29 - Accepted by EDGAR: Oct 29, 2010, 16:09 ET - Period: 2010-09-30 - Accession: 0001024020-10-000053 - Inline XBRL: no - Main document: https://www.sec.gov/Archives/edgar/data/1074871/000102402010000053/bearlake10qsept101.htm - All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1074871/000102402010000053/ ## Management's discussion and analysis As filed, 4,518 characters. ### Forward-looking Statements Statements made in this Quarterly Report which are not purely historical are forward-looking statements with respect to the goals, plan objectives, intentions, expectations, financial condition, results of operations, future performance and our business, including, without limitation, (i) our ability to raise capital, and (ii) statements preceded by, followed by or that include the words “may,” “would,” “could,” “should,” “expects,” “projects,” “anticipates,” “believes,” “estimates,” “plans,” “intends,” “targets” or similar expressions. Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond our control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: general economic or industry conditions, nationally and/or in the communities in which we may conduct business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, our ability to raise capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our current or potential business and related matters. Accordingly, results actually achieved may differ materially from expected results in these statements. Forward-looking statements speak only as of the date they are made. We do not undertake, and specifically disclaim, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements. ### Plan of Operations Our Company’s plan of operation for the next 12 months is to: (i) consider guidelines of industries in which our Company may have an interest; (ii) adopt a business plan regarding engaging in business in any selected industry; and (iii) to commence such operations through funding and/or the acquisition of a going concern engaged in any industry selected. During the next 12 months, our only foreseeable cash requirements will relate to maintaining our good standing; the payment of our Securities and Exchange Commission and the Exchange Act reporting filing expenses, including associated legal and accounting fees; costs incident to reviewing or investigating any potential business venture; and maintaining our good standing as a corporation in our state of organization. Because a principal shareholder has been paying all of the operating expenses, management does not anticipate that we will have to raise additional funds during the next 12 months. Our common stock currently trades on the Over-the-Counter Bulletin Board (OTCBB) under the symbol BLKE.OB. ### Results of Operations ### Three Months Ended September 30, 2010 Compared to Three Months Ended September 30, 2009 We had no operations during the quarterly period ended September 30, 2010, nor do we have operations as of the date of this filing. In the quarterly period ended September 30, 2010, we had sales of $0, compared to the quarterly period ended September 30, 2009, with sales of $0. General and administrative expenses were $3,917 for the September 30, 2010, period, compared to $4,137 for the September 30, 2009, period. General and administrative expenses for the three months ended September 30, 2010, were comprised mainly of accounting and other office fees, and the decreased general and administrative expenses for the 2010 quarterly period over the 2009 quarterly period was limited to decreased accounting fees. We had a net loss of $3,917 for the September 30, 2010, period compared to a net loss of $4,137 for the September 30, 2009, period. ### Liquidity and Capital Requirements We had no cash or cash equivalents on hand at September 30, 2010. If additional funds are required, such funds may be advanced by management or shareholders as loans to us. During the quarterly period ended September 30, 2010, expenses were paid by a principal shareholder in the amount of $427, and during the quarterly period ended September 30, 2009, additional expenses paid by a principal shareholder totaled $3,966. The aggregate amount of $61,862 is outstanding as of September 30, 2010, is non-interest bearing, unsecured and due on demand. Because we have not identified any acquisition or venture, it is impossible to predict the amount of any such loan. ### Off-balance Sheet Arrangements None. ## Controls and procedures As filed, 1,463 characters. ### Evaluation of Disclosure Controls and Procedures Disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in rules and forms adopted by the Securities and Exchange Commission, and that such information is accumulated and communicated to management, including the President and Secretary, to allow timely decisions regarding required disclosures. Under the supervision and with the participation of our management, including our President and Secretary, we evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this Quarterly Report. Based upon that evaluation, our President and Secretary concluded that, as of the end of the period covered by this Quarterly Report, our disclosure controls and procedures were effective. ### Changes in Internal Control Over Financial Reporting During the fiscal quarter covered by this Quarterly Report, there has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. Filed Oct 29, 2010. Source: SEC EDGAR, the filing index for accession 0001024020-10-000053. 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