Phoenix, Arizona--(Newsfile Corp. - September 19, 2019) - The Stock Day Podcast welcomed Wrap Technologies (NASDAQ: WRTC) ("the Company"), an innovator of modern policing solutions. CEO David Norris joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's patented and hand-held remote restraint device, the BolaWrap 100. Norris explained that the device is not only extremely cost effective, but also offers an alternative to other current policing solutions. Norris further explained that the device does not emit an electric current, but instead safely entangles the individual when used at a range of 10-25 feet. "This is more like remote handcuffs," explained Norris, adding that compared to current methods the device is a suitable alternative for restraining an individual that may be suffering from a mental crisis. The device essentially immobilizes the individual by restraining their arms and/or legs, allowing the officer to safely deescalate the situation.
Jolly then asked about the Company's current infrastructure and its ability to handle the high demand of this industry. Norris explained that the Company has received extensive interest in the BolaWrap 100 from the policing industry, especially as enhancements continue to be made on the product. "We've built our manufacturing facility that has the capability to build about 23,400 devices per year," stated Norris.
Norris also shared that the Company has built up its currently inventory and the funds needed to meet the demands of the market. "We think that adding distributors in the U.S. and internationally is the right move for us," said Norris.
Jolly inquired about the pricing of the BolaWrap 100 and asked if the product can be reused once deployed. Norris explained that the current MSRP of the device is $1,300 with cartridges available for $35 each. The cartridges are not reusable, however training cartridges are available through the Company and a $5 credit is available for each cartridge that is returned.
Norris then gave insight into the Company's third and fourth quarters, sharing that he expects to exceed their current goals.
To close the interview, Norris encouraged listeners to consider the potential of the Company as an excellent investment opportunity. However, he explained that the more important advantage in becoming involved with the Company is their desire to improve relationships between police and their community with an alternative restraint method. "It's a chance to make an important impact," said Norris, adding that the Company is backed by a passionate and experienced management team.
To hear David Norris' entire interview, follow the link to the podcast here: https://audioboom.com/posts/7372990-wrap-technologies-discusses-daily-revenue-growth-with-the-stock-day-podcast
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About Wrap Technologies (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 is a trademark 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 export licenses for counties outside of the US; 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:
+1-800-583-2652, Ext #515
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