Wrap Technologies Inc Stock Price, News & Analysis

Wrap Technologies, Inc. (Nasdaq: WRAP) has announced a significant achievement with a purchase order for its WRAP Reality virtual reality training system from a College Police Department in Pennsylvania. The order marks the largest commercial transaction to date for WRAP’s VR subscription, showcasing the effective use of immersive simulations for training officers in de-escalation tactics. The WRAP Reality system aims to enhance public safety by equipping law enforcement with advanced tools to manage crisis situations safely.

Wrap Technologies, Inc. (NASDAQ: WRAP) announced a major leadership transition to support its growth strategy. CEO Tom Smith and CFO Jim Barnes will step down, with Barnes retiring by year-end. The interim management will be led by L. W. Varner, Jr. as Principal Executive Officer, alongside Glenn Hickman as COO, and Lawrence Hirsh as Senior Advisor. A Special Transition Committee will oversee the leadership search. Wayne Walker has been appointed as the new Chairman of the Board, succeeding Patrick Kinsella. The Board aims to diversify the company's offerings and capitalize on growth opportunities in public safety technologies.

Wrap Technologies (Nasdaq: WRAP) announced a positive outcome from the use of its BolaWrap Remote Restraint device during an incident in Pembroke Pines, Florida, on November 3, 2021. Body cam footage shows officers successfully deploying the device to safely detain an unresponsive individual walking in traffic. CEO Tom Smith emphasized the effectiveness and safety of the BolaWrap, noting increased adoption and education efforts among law enforcement agencies. The company continues to innovate in public safety technologies with products like the BolaWrap and its immersive training system, Wrap Reality.

TEMPE, Ariz., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) announced participation in the Take Aim: Lake Street's Shooting Sports & Public Safety Event on January 26, 2022, at 12:00pm CT. This virtual conference, focusing on investment opportunities in the consumer space, allows institutional investors to engage with executives from multiple publicly traded companies. One-on-one meetings with WRAP management can be scheduled throughout the day. For further details, contact your Lake Street representative.

Wrap Technologies (Nasdaq: WRAP) announced that the Edenton Police Department in North Carolina has successfully integrated its Wrap Reality virtual reality training platform, hosting 10 local departments for demonstrations since its installation in November 2021. The platform aims to improve training efficiency and reduce use-of-force incidents. Following grant funding, Edenton will also expand its capabilities with the next-generation BolaWrap 150 device. Chief Henry King emphasizes the importance of these tools for officer and community safety.

Wrap Technologies (Nasdaq: WRAP) showcased successful use of its BolaWrap Remote Restraint device in a police incident. On December 22, 2021, Glenwood Springs officers employed two BolaWrap devices to safely restrain a noncompliant subject, preventing escalation to physical confrontation. Chief Joseph Deras praised the BolaWrap for minimizing injury risks. The demonstration emphasizes BolaWrap's effectiveness in public safety, aligning with WRAP's mission to enhance community protection through innovative technologies.

Wrap Technologies, Inc. (Nasdaq: WRAP) announced its first order for BolaWrap 150® Remote Restraint devices through the Arizona Municipal Risk Retention Pool (AMRRP), which will fund 50% of the purchase price. This order aims to equip over 1,800 police officers across 60 rural agencies in Arizona. The full deployment includes devices, cassettes, and holsters, expected to ship in Q1 2022. The company is optimistic about the order's potential to reduce excessive force claims and has received five additional requests for quotes from AMRRP members.

Wrap Technologies, Inc. (Nasdaq: WRAP) announced that President and CEO Tom Smith will present at the 24th Annual Needham Virtual Growth Conference on January 11, 2022, at 5:00 pm ET. The conference runs from January 10-14, 2022, and WRAP management will host one-on-one meetings on January 11 and 12. The company is recognized for its innovative public safety technologies, including the BolaWrap remote restraint device and the Wrap Reality training system, designed to aid public safety officials in effective de-escalation and apprehension methods.

Wrap Technologies, Inc. (Nasdaq: WRAP) has announced the international sale of 15,000 cartridges for its BolaWrap 100® remote restraint device, demonstrating a growing commitment to less-lethal force in public safety. This order was received in late December 2021, with revenue expected to be recognized in Q4 2021 and Q1 2022. CEO Tom Smith emphasized the importance of effective training for officers to enhance their use-of-force programs. Wrap Technologies offers innovative solutions and training tools to empower law enforcement and improve community safety.