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WRAP TECHNOLOGIES, INC.

(WRAP)
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Officers Use BolaWrap« on Subject in Crisis in Virginia

06/10/2021 | 10:07am EDT

TEMPE, Ariz., June 10, 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® Remote Restraint deployment in New Kent, Virginia.

On April 29, 2021, New Kent County Sheriff’s Office in Virginia responded to a subject experiencing a mental health crisis. Along with officers and paramedics, the family spent more than two hours attempting to resolve the situation. Officers were informed that the subject would probably become physically aggressive if touched.

In the video, the subject’s girlfriend can be heard pleading with the subject to comply. She told officers that the subject had been diagnosed with either bipolar disorder or schizophrenia and that he was not taking any medications and was hallucinating. Officers explained to her their plan to use the BolaWrap to help get the subject into the ambulance. An officer deployed the BolaWrap, sufficiently restraining and distracting the subject, enabling officers to safely transport him to a hospital. The situation was resolved without causing injury to anyone or requiring the use of force.

“Protecting our officers and our community is our top priority, and we are pleased with how the BolaWrap was able to help our officers safely get someone in crisis the help they needed while preventing the situation from escalating,” said Lieutenant Joey McLaughlin of New Kent County Sheriff’s Office.

The bodycam footage can be viewed here.

“The officers and paramedics attempted to communicate with the subject for an extended period of time, but after verbal requests clearly failed, the officers utilized the BolaWrap precisely as intended, enabling them to apprehend the subject safely,” said Tom Smith, President and CEO at WRAP. “It was gratifying for us at WRAP to hear the subject’s girlfriend thank the officers.”

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

Media Contact:

media@wrap.com


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Financials (USD)
Sales 2021 8,93 M - -
Net income 2021 -25,3 M - -
Net Debt 2021 - - -
P/E ratio 2021 -12,1x
Yield 2021 -
Capitalization 322 M 322 M -
Capi. / Sales 2021 36,1x
Capi. / Sales 2022 12,3x
Nbr of Employees 52
Free-Float 60,0%
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Number of Analysts 3
Last Close Price 7,96 $
Average target price 9,42 $
Spread / Average Target 18,3%
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Managers and Directors
Thomas P. Smith President, Chief Executive Officer & Director
James A. Barnes Chief Financial Officer, Secretary & Treasurer
Patrick Kinsella Chairman
Glenn Hickman Chief Operating Officer
Michael Parris Independent Director
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