TEMPE, AZ / ACCESSWIRE / February 10, 2020 / Wrap Technologies, Inc. (the 'Company' or 'Wrap') (NASDAQ:WRTC), an innovator of modern policing solutions, today announced it has received international purchase orders for 200 BolaWraps and 2,000 Cartridges and accessories.
The purchasing police agency placed the orders after successful demonstrations and trainings completed late last year. Wrap also received an initial order in January from a new Asian country to commence demonstrations and trials of BolaWrap. The Company expects to recognize revenues from the orders during the first quarter of 2020.
'We are excited about our international expansion and the rapid adoption by premier international police agencies,' said Tom Smith, President of Wrap Technologies. 'Countries that have already tested and evaluated the BolaWrap are now placing follow-on orders, and we're continuing to see new interest from previously unpenetrated markets.'
During the month of January, Wrap also demonstrated BolaWrap in two additional countries in Asia. The Company has delivered product to 22 different countries and signed 16 international distributors covering 26 countries in the last 10 months.
About Wrap Technologies (NASDAQ:WRTC)
Wrap Technologies is an innovator of modern policing solutions. The Company's BolaWrap 100 product is a patented, hand-held remote restraint device that discharges an eight-foot bola style Kevlar® tether to entangle an individual at a range of 10-25 feet. Developed by award winning inventor Elwood Norris, the Company's Chief Technology Officer, the small but powerful BolaWrap 100 assists law enforcement to safely and effectively control encounters, especially those involving an individual experiencing a mental crisis. For information on the Company please visit www.wraptechnologies.com. Examples of recent media coverage are available as links under the 'Media' tab of the website.
Trademark Information: BolaWrap and Wrap 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,' variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. 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 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 included in the Company's most recent 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.
WRAP TECHNOLOGIES' CONTACT:
800-583-2652, Ext #515
SOURCE: Wrap Technologies, Inc.
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