Wrap Technologies Reports Increased BolaWrap Order Activity in January 2020
TEMPE, AZ / ACCESSWIRE / February 3, 2020 / Wrap Technologies, Inc. (the “Company” or “Wrap”) (NASDAQ:WRTC), an innovator of modern policing solutions, announced that in January 2020 it received new orders for BolaWrap product and accessories from police agencies and domestic distributors in Arizona, North Carolina, Minnesota, Virginia, Alabama, Connecticut, Louisiana, Massachusetts, Texas, North Dakota and Florida.
“We began 2020 with increased order activity from agencies and distributors throughout the country, due in large part to the robust network of domestic distributors we built during 2019,” said David Norris, Chief Executive Officer at Wrap Technologies. “Because of how we have structured our new production facility in Tempe, we were positioned to accommodate the higher volume of orders we received in January compared to prior months. We are able to scale along with the growing demand we continue to see for requests for demonstrations, training, and new orders from police agencies across the United States.”
BolaWrap distributors performed more than 50 regional demonstrations in January. The Company performed 12 regional demonstrations and its Wrap Training Academy conducted 6 “Train the Trainer” courses.
Rick Guilbault, VP of Training at Wrap Technologies, added: “The BolaWrap is a simple device to operate, but like any police tool, the BolaWrap requires adequate training to prepare officers for high pressure field situations. We’ve therefore built a comprehensive training program to support the agencies and their field use, and we now have 53 BolaWrap Master Instructors, who are certified to train the trainers of police agencies.
“We recently launched our Learning Management Software (LMS) containing a variety of training coursework for agencies enabling them to register online to attend or host BolaWrap training in their area. LMS makes it much easier for us to introduce the BolaWrap to new agencies and ensure that officers in the field are using the tool safely and effectively.”
Coverage of the Company’s most recent regional BolaWrap demonstration on Friday with Reynoldsburg Police Department in Ohio can be found below:
About Wrap Technologies (Nasdaq: 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 entangle an individual at a range of 10-25 feet. Developed by award winning inventor Elwood Norris, the Company’s Chief Technology Officer, the small but powerful BolaWrap 100 assists law enforcement to safely and effectively control encounters, especially those involving an individual experiencing a mental crisis. For information on the Company please visit www.wraptechnologies.com. Examples of recent media coverage are available as links under the “Media” tab of the website.
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,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. 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 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 included in the Company’s most recent 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’ CONTACT:
800-583-2652, Ext #515
SOURCE: Wrap Technologies, Inc.
View source version on accesswire.com: