Wrap Technologies Receives New and Repeat BolaWrap® Orders
October 30 2020 - 8:20AM
Wrap Technologies, Inc. (the “Company” or
“Wrap”) (Nasdaq:
WRTC), an innovator of modern policing solutions,
announced today new and repeat domestic orders for BolaWrap®
products and accessories.
Recent orders from domestic law enforcement agencies received
and expected to ship next month include:
Agency in Texas: repeat order, purchased 240 cartridgesAgency in
Louisiana: purchased 50 devicesAgency in North Carolina: purchased
50 devicesAgency in Utah: purchased 39 devices for full deployment
(every front-line officer)Agency in New Mexico: repeat order,
purchased 20 more devices Agency in Georgia: purchased 16
devicesAgency in Arkansas: purchased 15 devices for full deployment
(every front-line officer)Agency in New Jersey: purchased 10
devicesAgency in Kansas: purchased 8 devicesAgency in Virginia:
purchased 6 devicesAgency in New Jersey: purchased 5 devicesAgency
in Connecticut: purchased 4 devicesUniversity agency in Louisiana:
purchased 2 devices
Sheriff Gerald M. Baker of Wake County Sheriff’s Office in North
Carolina commented on his agency’s decision to acquire the
tool:
“We believe the BolaWrap will be an important tool for our
deputies. Situations with noncompliant suspects, especially those
who are mentally ill and during civil unrests, can get very
complicated very quickly, as we’ve seen across the US in recent
months. We all want positives outcomes from these situations and
equipping our officers with the BolaWrap can help them simplify
these situations by safely ending the encounter before it escalates
to where higher levels of force may be required.”
This week, WRAP Training Academy conducted 10 ‘Train the
Trainer’ courses across the US, bringing our total number of
trained BolaWrap instructors to over 1200.
“We are excited to see a continued increase in training, full
deployments of the BolaWrap by departments, and growing repeat
orders, all of which we believe reflect commitment to our product,”
said Tom Smith, President and Interim CEO of Wrap Technologies. “In
light of COVID-19, calls for defunding the police, and national
reviews of police department’s policies and procedures, recent
domestic activity is an encouraging sign.
“Although we see the bulk of our revenue in the near term coming
from the international market, which is 12 times the size of the US
market, we are pleased with the continued adoption and use by US
agencies.”
Links to recent media appearances of the BolaWrap across the US
can be found below:
- Buncome County Sheriff’s, North Carolina
- Little River County Sheriff’s, Arkansas
- Ithaca Police Department, New York
- West Carrollton Police Department, Ohio
- Newnan Police Department, Georgia
- San Mateo County Sheriff’s Office, California
- Columbia County Sheriff’s Office, Oregon
- Cape Coral Police Department, Florida
- Malone Police Department, New York
- Yorktown Police Department, New York
Follow WRAP here:
WRAP on Facebook: https://www.facebook.com/wraptechnologies/WRAP
on Twitter: https://twitter.com/wraptechincWRAP on LinkedIn:
https://www.linkedin.com/company/wraptechnologiesinc/
About WRAP
Technologies (WRTC)WRAP Technologies is an
innovator of modern policing solutions. The Company’s BolaWrap 100
product is a patented, hand-held remote restraint device that
discharges an eight-foot bola style Kevlar® tether to restrain an
individual at a distance from 10 to 25 feet. Developed by award
winning inventor Elwood Norris, the Company’s Chief Technology
Officer, the small but powerful BolaWrap 100 assists law
enforcement in safely and effectively deescalating encounters,
especially those involving an individual in crisis. BolaWrap 100
has already been used to safely apprehend suspects without injury
in a number of cities including Los Angeles, Sacramento, Fresno,
Bell, Albuquerque, Minneapolis, West Palm Beach, Fort Worth, and
Oak Ridge. For information on the Company, please visit
www.wraptechnologies.com.
Trademark InformationBolaWrap and Wrap are
trademarks of WRAP Technologies, Inc. All other trade names used
herein are either trademarks or registered trademarks of the
respective holders.
Cautionary Note on Forward-Looking Statements – Safe
Harbor Statement This press release contains
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995, including but not limited to: statements regarding the
Company’s overall business; total addressable market; and,
expectations regarding future sales and expenses. Words such as
“expect”, “anticipate”, “should”, “believe”, “target”, “project”,
“goals”, “estimate”, “potential”, “predict”, “may”, “will”,
“could”, “intend”, and variations of these terms or the negative of
these terms and similar expressions are intended to identify these
forward-looking statements. Moreover, forward-looking statements
are subject to a number of risks and uncertainties, many of which
involve factors or circumstances that are beyond the Company’s
control. The Company’s actual results could differ materially from
those stated or implied in forward-looking statements due to a
number of factors, including but not limited to: the Company’s
ability to successful implement training programs for the use of
its products; the Company’s ability to manufacture and produce
product for its customers; the Company’s ability to develop sales
for its new product solution; the acceptance of existing and future
products; the availability of funding to continue to finance
operations; the complexity, expense and time associated with sales
to law enforcement and government entities; the lengthy evaluation
and sales cycle for the Company’s product solution; product
defects; litigation risks from alleged product-related injuries;
risks of government regulations; the business impact of health
crises or outbreaks of disease, such as epidemics or pandemics; the
ability to obtain export licenses for counties outside of the US;
the ability to obtain patents and defend IP against competitors;
the impact of competitive products and solutions; and the Company’s
ability to maintain and enhance its brand, as well as other risk
factors mentioned in the Company’s most recent annual report on
Form 10-K, quarterly report on Form 10-Q, and other SEC filings.
These forward-looking statements are made as of the date of this
press release and were based on current expectations, estimates,
forecasts and projections as well as the beliefs and assumptions of
management. Except as required by law, the Company undertakes no
duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future
events or changes in its expectations.
WRAP Technologies, Inc.Paul M.
ManleyVP – Investor Relations(612)
834-1804pmanley@wraptechnologies.com
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