TEMPE, Ariz., Jan. 31, 2022 (GLOBE NEWSWIRE) — Wrap Technologies, Inc. (Nasdaq: WRAP) (the “Company”), a global leader in innovative public safety technologies and services, announced that it has received a purchase order for WRAP Reality, the Company’s fully immersive virtual reality training simulation system from a department of university police in Pennsylvania.
The initial demonstration of the WRAP Reality system took place in July 2021 and demonstrated the benefits of scenario role-playing via an immersive and authentic simulator that helps police officers implement de-escalation tactics and allows them to s train to end situations without causing injury.
“Focusing on our commitment to improving the way law enforcement handles conflict in life-threatening situations, we are establishing a leadership position by providing tools and resources to handle non-compliant matters quickly and in safely,” said Glenn Hickman, COO of ENVELOPPER. “This agreement represents our largest commercial purchase order to date for VR subscription and demonstrates the industry commitment we are seeing for our software services.”
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovative public safety technologies and services. WRAP develops creative solutions to complex problems and empowers public safety officials to protect and serve their communities through its portfolio of advanced technologies and training solutions.
WRAP’s BolaWrap® Remote Restraint is a patented handheld pre-escalation and apprehension tool that discharges a Kevlar® tether to temporarily restrain uncooperative suspects and those in crisis. With its many uses in the field and growing adoption by agencies around the world, BolaWrap is proving to be an effective tool in helping law enforcement detain people safely without injury or reliance on levels. of higher strength.
Wrap Reality, the company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform that provides first responders with discipline and practice in de-escalation, disaster conflicts and use of force to perform better in the field.
WRAP’s headquarters are in Tempe, Arizona. For more information, visit wrap.com.
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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 About 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 Society ; total addressable market; and, expectations regarding future sales and expenditures. 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 form of these 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 Company’s control. The Company’s actual results could differ materially from those indicated or implied by the forward-looking statements due to a number of factors, including, but not limited to: the Company’s ability to implement with success of 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; receipt of existing and future products, including receipt of the BolaWrap 150; the risk that distributors’ and customers’ orders for future deliveries may be modified, rescheduled or canceled in the normal course of business; the availability of funds to continue financing operations; the complexity, expense and time associated with sales to law enforcement and government entities; the long evaluation and sales cycle of the Company’s product solution; product defects; the risks of litigation related to alleged damages related to the products; government regulatory risks; the business impact of health crises or epidemics, such as epidemics or pandemics; the possibility of obtaining export licenses for countries other than 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, its 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 management’s beliefs and assumptions. Except as required by law, the Company assumes 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.
Paul M. Manley
Vice President – Investor Relations
Media Contact: [email protected]