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WRAP Technologies (NASDAQ: WRAP) will join the 4th Annual D.A. Davidson Consumer Growth Conference virtually on March 11, 2021. CEO Tom Smith is set to present at 2:45 PM ET in a fireside chat format led by Managing Director Linda Bolton Weiser. Investors interested in attending can contact their D.A. Davidson representative for more details. WRAP is known for its innovative public safety solutions, including the BolaWrap Remote Restraint device and WRAP Reality training system, aimed at reducing escalation in law enforcement situations.
WRAP Technologies Appoints New CEO and Announces Board Enhancements
On March 8, 2021, WRAP Technologies (NASDAQ: WRAP) appointed Tom Smith as its CEO, moving from interim status. Smith, previously President, boosted sales by 460% in 2020, selling devices to 36 countries. The company plans to add two independent directors within 45 days, reflecting ongoing dialogue with shareholders. Co-founder Scot Cohen praised Smith's experience in public safety. The management change aims to enhance corporate governance and align with WRAP's mission to improve community safety.
Wrap Technologies, Inc. (Nasdaq: WRAP) reported a significant financial performance for 2020. Fourth-quarter net sales reached $1.4 million, a staggering 464% increase year-over-year, with a gross margin of 33%. For the full year, net sales totaled $3.9 million, up 466%, as the company expanded its international presence, selling products to 36 countries. Despite these gains, the company incurred a net loss of $12.6 million for the year. Wrap also highlighted a strong cash position of $41.6 million. The acquisition of NSENA aims to enhance training solutions for law enforcement.
Wrap Technologies (WRAP) announced the deployment of seven new BolaWrap devices by law enforcement agencies in New York, California, Texas, and South Carolina. These deployments, informed to the company in the last two weeks, reflect growing acceptance of BolaWrap as a low-level force option. The President of WRAP, Tom Smith, expressed satisfaction with this trend, noting that many deployments may not be reported to the company. The BolaWrap 100 is designed for safe apprehension of suspects from a distance, aiming to improve policing methods.
Wrap Technologies, Inc. (WRAP) will host a Zoom webcast on March 4, 2021, at 4:30 p.m. Eastern time to discuss its financial and operational results for Q4 and the full year ending December 31, 2020. A press release with these results will be issued before the event. The BolaWrap 100, a product of WRAP, is a patented device designed for modern policing solutions, aiding in safely apprehending individuals from a distance. The device has been used in various cities across the U.S. for de-escalating encounters.
Wrap Technologies, Inc. (WRAP) announced the appointment of Kathleen O’Toole and Sylvia Moir to enhance its public safety technology initiatives. Both retired police chiefs will collaborate on developing a virtual reality training simulator focused on de-escalation, use of force, and officer wellness. O’Toole and Moir bring decades of law enforcement experience and will support research, development, and community engagement. This initiative aligns with WRAP's commitment to innovation in policing and aims to improve officer decision-making and overall public safety.
Wrap Technologies (WRAP) announced significant orders for its BolaWrap® devices, with over 600 units and accessories ordered internationally. Recently, more than 50 new domestic orders were received, highlighting increased interest among law enforcement agencies. BolaWrap was successfully deployed by the San Mateo County Sheriff’s Office to apprehend a noncompliant individual. The company emphasizes its role in enhancing public safety through innovative, non-lethal restraint solutions. Overall, this reflects a growing adoption of their technology across various law enforcement agencies.
WRAP Technologies has announced the completion of an Asset Purchase Agreement with NSENA Inc., enhancing its BolaWrap law enforcement training through immersive 3D scenarios. This acquisition positions WRAP in the virtual reality training market, projected to grow from $204.41 billion in 2019 to $601.85 billion by 2027. NSENA’s platform includes 47 training modules focused on essential skills for law enforcement professionals. The collaboration aims to improve training options for agencies facing increasing public safety demands.
Wrap Technologies, Inc. (WRAP), an innovator in policing solutions, announced a successful deployment of its BolaWrap Remote Restraint device by Beaufort, South Carolina police. The device enabled officers to safely take a subject into custody without injuries. WRAP's BolaWrap 100 is designed to aid law enforcement in de-escalating encounters from a distance of 10 to 25 feet. This deployment follows previous successful uses in multiple cities and aligns with WRAP's commitment to enhancing safety for officers and communities.
WRAP Technologies announced that President and Interim CEO Tom Smith will present at the 13th annual LD Micro Main Event on December 15, 2020, from 1pm to 1:20pm ET. Attendees can access the presentation via a live webcast available on the company’s website. WRAP's innovative BolaWrap 100 is a remote restraint device designed to assist law enforcement in deescalating encounters without harm. The product has been successfully utilized in various cities, enhancing policing solutions. For more details, visit wrap.com.
