Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

WRAP TECHNOLOGIES, INC.

(WRAP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

BolaWrap« First Hometown Use – Safely Assists Officers to Restrain Moving Subject

06/08/2021 | 09:33am EDT

TEMPE, Ariz., June 08, 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 another successful BolaWrap® Remote Restraint deployment, this time in the Company’s hometown of Tempe, Arizona.

On May 28, 2021, Tempe Police Department officers observed a subject running through traffic, causing a danger to himself and others. The subject appeared to be in crisis and was armed with a stun gun.

After the subject failed to respond to verbal commands, an officer announced that he would be wrapped. The officer deployed the BolaWrap, restricting the subject’s mobility and preventing him from moving away. The subject was safely taken into custody without injury.

“The Tempe Police Department is training constantly to improve our de-escalation and resolution efforts,” said Chief of Police Jeffrey Glover.

“We strive to be very attuned to individuals that may be suffering from mental illness or dementia, disoriented, or potentially impaired. The BolaWrap technology tool gives us a greater array of options – especially in situations such as occurred here, on a busy night in downtown, when the individual was not responding to our Officers’ directions, and unaware that he was putting others and himself at risk amid vehicle traffic.”

“We have the strongest commitment to our community to build trust by our actions.  To be called into an unsafe situation, and whenever possible to resolve that situation safely and without injury to anyone involved.”

The bodycam footage can be viewed here.

“We are pleased to see another safe and successful deployment of the BolaWrap on a moving subject,” said Tom Smith, President and CEO of WRAP. “Tempe’s BolaWrap-trained officers did an excellent job of quickly de-escalating the situation. This and other recent deployments reinforce BolaWrap’s position as an early engagement tool that can be effective in restraining moving subjects and, in many instances, prevent the need for force. We believe BolaWrap augments an officer’s response options in dealing with uncooperative subjects without painful force, especially subjects in crisis.”

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 successfully 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:

Paul M. Manley
VP – Investor Relations
(612) 834-1804
pmanley@wrap.com


Primary Logo


ę GlobeNewswire 2021
All news about WRAP TECHNOLOGIES, INC.
07/20WRAP TECHNOLOGIES : Applauds House Appropriations Committee Report
AQ
07/20WRAP SETS SECOND QUARTER 2021 CONFER : 30 pm et
AQ
07/14WRAP Joins United Nations Global Compact
GL
07/14Wrap Technologies, Inc. Joins United Nations Global Compact
CI
07/06SECTOR UPDATE : Tech Stocks Gain Premarket Tuesday
MT
07/02WRAP TECHNOLOGIES : Appoints Public Safety Technology Executive Glenn Hickman as..
PU
07/02WRAP TECHNOLOGIES, INC. : Change in Directors or Principal Officers (form 8-K)
AQ
07/02WRAP TECHNOLOGIES : Names COO; Chief Technology Officer Woody Norris Retires
MT
07/02WRAP Appoints Public Safety Technology Executive Glenn Hickman as Chief Opera..
GL
07/02Wrap Technologies, Inc. Appoints Glenn Hickman as Chief Operating Officer
CI
More news
Financials (USD)
Sales 2021 10,2 M - -
Net income 2021 -19,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 -13,0x
Yield 2021 -
Capitalization 261 M 261 M -
Capi. / Sales 2021 25,7x
Capi. / Sales 2022 9,46x
Nbr of Employees 52
Free-Float 59,4%
Chart WRAP TECHNOLOGIES, INC.
Duration : Period :
Wrap Technologies, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WRAP TECHNOLOGIES, INC.
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 6,55 $
Average target price 9,92 $
Spread / Average Target 51,4%
EPS Revisions
Managers and Directors
Thomas P. Smith President, Chief Executive Officer & Director
James A. Barnes Chief Financial Officer, Secretary & Treasurer
Patrick Kinsella Chairman
Elwood G. Norris Chief Technology Officer
Michael Parris Independent Director
Sector and Competitors
1st jan.Capi. (M$)
WRAP TECHNOLOGIES, INC.35.61%261
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.34.20%91 917
GARMIN LTD.28.10%27 740
ALLEGION PLC18.62%12 493
ZHEJIANG DAHUA TECHNOLOGY CO., LTD.8.60%10 068
ADT INC.35.67%9 185