TEMPE, Arizona, June 04, 2021 (GLOBE NEWSWIRE) – Wrap Technologies, Inc. (the “Company” or “WRAP”) (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, has announced that the next phase of the Los Angeles Police Department’s (LAPD) BolaWrap Pilot Program (“BolaWrap Pilot Program”) will begin in the third quarter of 2021.
“The LAPD will continue to test and evaluate the BolaWrap as we see a need for additional de-escalation tools to help keep our officers and communities safe,” said LAPD Deputy Chief Dominic Choi. “We look forward to continuing the pilot program with Wrap Technologies to determine if the Bolawrap device meets our needs. “
“Our team is delighted to continue working with the LAPD to support the expansion of its one-year BolaWrap pilot program and to provide training that best matches the city’s needs for innovative public safety solutions focused on prevention of escalation, ”said Tom Smith, CEO of WRAP. . “We believe that the post-COVID BolaWrap deployments during the pilot extension will more closely mirror the effective early intervention deployments that we see in other police departments.”
On May 4, 2021, the Los Angeles Board of Police Commissioners (“Commission”) approved a one-year extension of the BolaWrap pilot program. The Commission’s approval came after the LAPD Police Chief released a report dated April 28, 2021 (“Report”), which included the results of the LAPD’s initial BolaWrap pilot program, which expired in February 2021, and provided data regarding the BolaWrap deployment, operations and results of the use of the device in the field. The LAPD submitted recommendations to the Company to improve the serviceability of the BolaWrap. Additionally, due to insufficient sample size during the initial BolaWrap pilot program, the report recommended that the BolaWrap pilot program be resumed for one year in the Hollywood and Central divisions of the LAPD before the final assessment of the LAPD. The Hollywood and Central divisions were selected due to the high volume of calls where the BolaWrap can be useful.
The BolaWrap is currently tested and used by over 500 departments in the United States and abroad. On May 26, 2021, WRAP announced that the Seattle Police Department had approved a BolaWrap pilot program. Internationally, Italy recently became the 44th country to receive BolaWrap technology.
Bodycam videos of the BolaWrap used by law enforcement agencies in the United States can be viewed here.
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovative public safety technologies and services that provide advanced solutions to prevent escalation. The BolaWrap® Remote Restraint, WRAP’s first product, is a patented hand-held device that unloads a Kevlar® tether to temporarily restrain at a safe distance. With many uses in the field and increasing adoption by agencies around the world, BolaWrap is proving to be an effective tool for safely detaining people without injury. WRAP Reality, the company’s virtual reality training system, is an immersive training simulator and comprehensive public safety training platform designed to equip first responders with the knowledge to work in the field. WRAP’s corporate headquarters are located in Tempe, Arizona. For more information, please visit wrap.com.
Follow WRAP here:
WRAP on Facebook: https://www.facebook.com/wraptechnologies/
ENVELOPE on Twitter: https://twitter.com/wraptechinc
WRAP on LinkedIn: https://www.linkedin.com/company/wraptechnologies/
BolaWrap, Wrap, and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are trademarks or registered trademarks of their respective holders.
Caution Regarding 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 overall business of the Company ; total addressable market; and, expectations regarding future sales and expenses. Words such as “expect”, “anticipate”, “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “could”, ” will “,” could “,” intent “and variations of such terms or the negative of such terms and similar expressions are intended to identify such forward-looking statements. In addition, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances beyond the control of the Company. The actual results of the Company could differ materially from those stated or implied in any forward-looking statements due to a number of factors, including, but not limited to: the ability of the Company to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales of its new product solution; acceptance of existing and future products; the availability of funds to continue financing operations; the complexity, expense and time associated with sales to law enforcement and government agencies; the long evaluation and sales cycle of the Company’s product solution; product defects; the risks of litigation arising from alleged product-related injuries; risks of government regulations; the business impact of health crises or epidemics, such as epidemics or pandemics; the possibility of obtaining export licenses for countries outside the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competing products and solutions; and the Company’s ability to maintain and improve its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, the Quarterly Report on Form 10-Q and other documents filed with the SEC. These forward-looking statements are made as of the date of this press release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company assumes no obligation or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in its expectations.
Paul M. Manley
Vice-President – Investor Relations
For press inquiries: [email protected]