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WRAP TECHNOLOGIES, INC.

(WRAP)
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WRAP Reports Successful Deployment of BolaWrap« Used on Fleeing Subject Outside Seattle

05/27/2021 | 12:34pm EDT

TEMPE, Ariz., May 27, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the "Company" or "WRAP") (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, released new dashcam footage of a successful BolaWrap® Remote Restraint deployment in Washington.

On May 4, 2021, Mountlake Terrace Police Department (MTPD) in Washington responded to a call involving a subject in mental crisis walking in the road and in front of vehicles. The subject ran towards the freeway overpass, and officers were concerned he intended to jump.

An officer pursuing the subject deployed the BolaWrap on the subject’s legs, enabling officers to safely take him into custody without injury. The subject was safely transported to a mental health facility to receive help.

The dashcam footage can be viewed here.

The BolaWrap was also successfully deployed by MTPD officers last month on an intoxicated suspect threatening his wife and children. Footage of that incident can be viewed here.

“We are pleased to see another successful deployment of the BolaWrap by Mountlake Terrace Police Department, especially on a fleeing subject,” said Tom Smith, President and CEO of WRAP. “With each field use video shared with us, we continue to see more applications of the BolaWrap as a tool that can help produce successful outcomes in a variety of scenarios. Whether the BolaWrap is used to safely restrain a subject in a mental health crisis or stop a suspect committing a crime, the device can help de-escalate encounters and end them quickly, before things get out of hand.”

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


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ę GlobeNewswire 2021
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Financials (USD)
Sales 2021 10,2 M - -
Net income 2021 -19,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 -12,9x
Yield 2021 -
Capitalization 259 M 259 M -
Capi. / Sales 2021 25,5x
Capi. / Sales 2022 9,39x
Nbr of Employees 52
Free-Float 59,4%
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Number of Analysts 3
Last Close Price 6,50 $
Average target price 9,92 $
Spread / Average Target 52,6%
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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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