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WRAP TECHNOLOGIES, INC.

(WRAP)
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BolaWrap De-escalates Volatile Situation in Pennsylvania

05/06/2021 | 12:07pm EDT

TEMPE, Ariz., May 06, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the "Company" or "WRAP") (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, released new bodycam footage of a successful BolaWrap® deployment in Pennsylvania.

On April 15, 2021, Northern York County Regional Police Department (NYCRPD) responded to a call from a local motel of a guest previously reported as being disruptive and behaving erratically. Motel staff requested police to remove the guest from the property.

“The BolaWrap deployment immediately de-escalated the situation and brought the subject down from an agitated state to one where she questioned what struck her, giving the officer time to move in and safely take her into custody,” said Chief David Lash of NYCRPD. “We didn’t have to use any weapons that rely on pain compliance. In this video, it’s important to note that you never hear the subject say ‘ouch’ or scream pain - she had no injuries from the BolaWrap. We were able to take her into custody with no pain to her, no injury to the officers, and no need for decontamination or anything else that would have resulted from using another tool.

“We don’t consider the BolaWrap as a use-of-force. It is a remote restraint device - another method of taking someone into custody without using force. On our use-of-force continuum, the BolaWrap is deployed before force even begins,” added Chief Lash.

The bodycam footage can be viewed here, and the full interview with Chief Lash can be viewed here.

“Unlike previously released bodycam videos showing BolaWrap deployments outdoors, this is our first shared footage of BolaWrap use on someone indoors,” said Mike Rothans, Chief Strategy Officer at WRAP and retired Assistant Sheriff of the Los Angeles County Sheriff’s Department. “The video highlights the versatility and multiple aspects of the BolaWrap device - not only did it restrain the subject’s arm, but the deployment also created a distraction, giving the officer time to control the subject without the need for a pain compliance tool and without causing injury.”

Additional bodycam videos of the BolaWrap in use can be viewed here.

About WRAP
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovating public safety technologies and services that deliver advanced solutions focused on avoiding escalation. The BolaWrap® Remote Restraint device, WRAP's first product, is a patented, hand-held device that discharges a Kevlar® tether to temporarily restrain from a safe distance. Through many field uses and growing adoption by agencies worldwide, BolaWrap is proving to be an effective tool to safely detain persons without injury. WRAP Reality, the Company's virtual reality training system, is an immersive training simulator and comprehensive public safety training platform designed to empower first responders with the necessary knowledge to perform in the field. WRAP's headquarters are located in Tempe, Arizona. For more information, please visit wrap.com.

Follow WRAP here:
WRAP on Facebook: https://www.facebook.com/wraptechnologies/
WRAP on Twitter: https://twitter.com/wraptechinc
WRAP on LinkedIn: https://www.linkedin.com/company/wraptechnologies/

Trademark Information
BolaWrap, Wrap and Wrap Reality 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", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, 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 countries 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 mentioned 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.

Contact:

Media Relations
(800) 583-2652
media@wrap.com 


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Financials (USD)
Sales 2021 10,2 M - -
Net income 2021 -19,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 -16,8x
Yield 2021 -
Capitalization 323 M 323 M -
Capi. / Sales 2021 31,7x
Capi. / Sales 2022 11,7x
Nbr of Employees 52
Free-Float 57,4%
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Average target price 9,92 $
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Thomas P. Smith President & Chief Executive Officer
James A. Barnes Chief Financial Officer, Secretary & Treasurer
Scot J. Cohen Executive Chairman
Elwood G. Norris Chief Technology Officer
Michael Parris Independent Director
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