WRAP Reports New BolaWrap Deployments
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.
- Seven new BolaWrap deployments reported across four states, indicating increasing demand.
- BolaWrap is being recognized as a low-level force option, enhancing its market appeal.
- Positive feedback from law enforcement agencies reinforces the product's effectiveness in de-escalating situations.
- None.
TEMPE, Ariz., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the “Company” or “WRAP”) (Nasdaq: WRAP), an innovator of modern policing solutions, today reported seven new BolaWrap deployments on suspects in the field by agencies in New York, California, Texas, and South Carolina. The Company was informed of the deployments over the last two weeks. These wraps are in addition to the deployment by the Buffalo Police Department reported by the media earlier this week.
Two wraps were deployed on suspects by an agency in Texas, two wraps were deployed by an agency in California, two wraps were deployed by two different agencies in New York, and one wrap was deployed by an agency in South Carolina.
“We are pleased to see the continued use of the BolaWrap in the field as more and more agencies across the United States adopt the device onto their duty belts,” said Tom Smith, President of WRAP. “As agencies consider use of the BolaWrap as a very low level of force option, many uses are not reported to us and many agencies don’t even consider BolaWrap deployments a reportable use of force. So while we don’t always hear about deployments right away, we are excited to share periodic field use updates with our stakeholders.”
Links to recent media featuring the BolaWrap during the month of February can be found below.
Baldwin County Sheriff’s Office, Alabama
Glenwood Springs Police Department, Colorado
West Plains Police Department, Missouri
St. Landry Parish Sheriff’s Office, Louisiana
Hyattsville Police Department, Maryland
Canajoharie Police Department, New York
Portland Police Department, Maine
Philadelphia Police Department, Pennsylvania
LaGrange Police Department, Georgia
Utah Law Enforcement Agencies
About WRAP
WRAP Technologies, Inc. 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.wrap.com.
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Trademark Information
BolaWrap 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 Contact:
Paul M. Manley
VP – Investor Relations
(612) 834-1804
pmanley@wrap.com
FAQ
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