100+ Agencies Request BolaWrap in Last Month; 36 Agencies Register For Grant Assistance
TEMPE, AZ / ACCESSWIRE / June 23, 2020 / Wrap Technologies, Inc. (the "Company" or "Wrap") (NASDAQ:WRTC), an innovator of modern policing solutions, today announced the Company has received more than 100 requests for BolaWrap demonstrations and training in the last month. An additional 36 agencies have applied for grant assistance since the June 4 debut of our Grant Assistance Program.
"Agencies have been reevaluating their use of force methods and tools during encounters with subjects who need to be detained," said Mike Rothans, Chief Operating Officer at Wrap Technologies. "BolaWrap is at the forefront of conversations, as our remote restraint device is the only tool on an officer's belt designed to restrain a noncompliant subject without inflicting pain."
Due to the COVID-19 travel restrictions, the Company has been performing webinar demonstrations for law enforcement agencies eager to implement BolaWrap. Now that travel restrictions have begun to ease, agencies have been inviting the Company for in-person demonstrations and ‘Train the Trainers' sessions.
"Prior to COVID-19, our distributors and internal sales team were performing over 100 demonstrations a month," said Tom Smith, President at Wrap Technologies. "With the continuing conversation about law enforcement use of force and the resulting increased interest in BolaWrap, we anticipate the number of virtual and in-person demonstrations to grow."
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 is a trademark 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 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 included 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' CONTACT:
Investor Relations
800-583-2652, Ext #515
IR@wraptechnologies.com
SOURCE: Wrap Technologies, Inc.
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