Wrap Secures 3 Additional International Orders; 5 Domestic Distributor Orders
Las Vegas, Nevada, July 17, 2019 - Wrap Technologies, Inc. (the “Company” or “Wrap”) (Nasdaq: WRTC), an innovator of modern policing solutions, today announced the Company has received an international distributor order valued in excess of $1 million. Under the terms of the order, Wrap has received an initial deposit and is supporting the distributor with training and demonstration of BolaWrap to customers. The Company expects to commence shipments in the second half of 2019.
The Company also reported receiving three additional international orders and its first five domestic distributor orders. In addition to placing initial orders, distributors are being trained in the proper use of BolaWrap devices and they have commenced selling Wrap products to customers throughout the United States.
“We are excited about our first significant international order,” said Tom Smith, President of Wrap Technologies. “We believe this is the first of many orders, as the interest from both the domestic and international communities has been tremendous. With this new order, Wrap will have shipped the latest BolaWrap model to six countries. We have received over 500 international inquiries from more than 90 countries expressing interest in BolaWrap. From my previous experience, I am pleasantly surprised how quickly we received our first $1M order. A remote restraint device is attractive to international agencies and accordingly we see the international market for BolaWrap as a significant growth opportunity for the Company.”
Distributor and customer orders for future deliveries are generally subject to modification, rescheduling or in some instances cancellation in the normal course of business.
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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 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.
BolaWrap is a trademark of Wrap Technologies, Inc. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
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