LAS VEGAS, Aug. 16, 2019 /PRNewswire/ -- Wrap Technologies, Inc. (the "Company" or "Wrap") (WRTC), an innovator of modern policing solutions, today announced that the Company has trained seven new police departments on the BolaWrap since July 1st, and held 10 demonstrations for various agencies, including the Barbados General Consul.
Agencies that received training are located in New York, California, Texas and Pennsylvania.
The Company has demonstrated the BolaWrap to more than 100 agencies, 84 of which have been trained, and 23 having already purchased BolaWrap devices, cartridges and accessories.
"We expect the number of BolaWrap demonstrations in the U.S. to increase significantly as we recently completed training for all nine of our U.S. distributors," stated President, Tom Smith. "Our distributor network provides more people on the ground selling the BolaWrap to their existing and new customers, and to the 1,200+ departments that have requested demonstrations from us directly. These distributor demonstrations are in addition to the demonstrations held by our executive team," Smith added.
"As the number of BolaWrap demonstrations increase, the number of 'Train the Trainer' sessions required expansions, as many of the agencies seeking demonstrations desire to proceed with the purchase of and training on the BolaWrap. We currently have 10 Master Instructors conducting 'Train the Trainers' sessions and expect to increase that number to meet the growing demand," said Vice President of Training, Rick Guilbault.
On August 9th the Company held a call regarding their financial results for the second quarter period ending June 30, 2019. A recording of the call is available here.
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.
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.