Wrap Technologies Provides Update on Pilot Programs

Post Author: Wrap Technologies
Post Date: January 14, 2019

Agencies Such as Coral Gables Police Department Transitioning to Customer Status

LAS VEGAS, NV / ACCESSWIRE / January 14, 2019 / Wrap Technologies, Inc. (the “Company“) (NASDAQ: WRTC), an innovator of modern policing solutions, today provided an update on pilot program activity.

The Company’s pilot demonstration program has resulted in the delivery of BolaWrap 100 products to over 45 agencies in the last seven months. “Commercialization of a new crime control product involves demonstration, in-house evaluation, training, policy development and field testing before adoption as a standard policing tool,” explained David Norris, the Company’s chief executive officer. “We are pleased to report we are now seeing early pilot program agencies start to transition to becoming customers.”

The Coral Gables, Florida Police Department first began evaluating the BolaWrap 100 last July and then participated in the Company’s robust training program with additional product in September. The department placed its first order in December that just recently shipped. “Coral Gables has approximately 200 sworn officers and illustrates our pilot demonstration process, especially the importance of robust training covering many aspects of police engagement using the BolaWrap 100,” added Norris. “We will continue to work to expand deployment with additional officers at Coral Gables and at other pilot agencies.”

Coral Gables Police Chief Ed Hudak reported “We are excited about the first phase of our deployment of the BolaWrap. We believe this non-lethal tool will save the lives of officers, the public and those people we have encounters with. Technology in police work is ever-changing; therefore, as Police Administrators, we owe it to our troops and communities to change with it. I believe BolaWrap is one of those ‘Game Changers’ in our profession to assist in de-escalating confrontational situations safely.”

As early sites transition through training and to deployment, the Company continues to deliver pilot program product to select agencies including many that invite the media to experience BolaWrap. The Company was recently the subject of media coverage of a department demonstration in Fresno, California.

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.

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 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.

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