WRAP Technologies (WRAP) Announces Largest Ever International Order
Wrap Technologies, Inc. (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, announced that the Company received a new repeat order from an International distributor for 500 BolaWrap 100 devices, 50,000 cartridges, and related accessories.
“Our distributor is working with a national police agency that is representative of the exact type of agency we are best situated to help,” said Tom Smith, CEO and President of WRAP. “This agency values preventing escalation and is working to equip large groups of officers on its force with the BolaWrap device and training. We look forward to continuing to support our distributor and this forward-thinking agency.”
WRAP received the order in late October and the revenue is expected to be recognized in Q4 2021 and Q1 2022. The BolaWrap has already been shipped to 50 countries.
Smith continued, “Our international distributors continue to expand BolaWrap programs despite the challenges presented by the global pandemic. The international market is 12 times the US market size, but order processing can be complicated. I am heartened by our continued expansion and training overseas as the BolaWrap program broadens its reach. Our long-term plan is on target and we are well-positioned for success.”
About WRAPWRAP Technologies (Nasdaq: WRAP) is a global leader in innovative public safety technologies and services. WRAP develops creative solutions to complex issues and empowers public safety officials to protect and serve their communities through its portfolio of advanced technology and training solutions.
WRAP’s BolaWrap® Remote Restraint device is a patented, hand-held pre-escalation and apprehension tool that discharges a Kevlar® tether to temporarily restrain uncooperative suspects and persons in crisis from a distance. Through its many field uses and growing adoption by agencies across the globe, BolaWrap is proving to be an effective tool to help law enforcement safely detain persons without injury or the need to use higher levels of force.
WRAP Reality, the Company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform providing first responders with the discipline and practice in methods of de-escalation, conflict resolution, and use-of-force to better perform in the field.