<SEC-DOCUMENT>0001654954-21-007607.txt : 20210702
<SEC-HEADER>0001654954-21-007607.hdr.sgml : 20210702
<ACCEPTANCE-DATETIME>20210702172559
ACCESSION NUMBER:		0001654954-21-007607
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210701
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210702
DATE AS OF CHANGE:		20210702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WRAP TECHNOLOGIES, INC.
		CENTRAL INDEX KEY:			0001702924
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				980551945
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38750
		FILM NUMBER:		211071607

	BUSINESS ADDRESS:	
		STREET 1:		1817 W 4TH STREET
		CITY:			TEMPE
		STATE:			AZ
		ZIP:			85281
		BUSINESS PHONE:		800-583-2652

	MAIL ADDRESS:	
		STREET 1:		1817 W 4TH STREET
		CITY:			TEMPE
		STATE:			AZ
		ZIP:			85281
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>wrtc8k_july22021.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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UNITED STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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Washington, DC 20549</font></div>
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FORM 8-K</font></div>
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CURRENT REPORT</font></div>
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Pursuant to Section&#xA0;13 or 15(d) of the</font></div>
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Securities Exchange Act of 1934</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Date of
Report (Date of earliest event reported): <font style="text-decoration: underline">July 1, 2021</font></font></div>
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WRAP TECHNOLOGIES, INC.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
(Exact name of Registrant as specified in its Charter)</font></div>
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<font style="text-decoration: underline"><font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px; text-decoration: underline;">
Delaware</font></font></font></div>
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<font style="text-decoration: underline"><font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px; text-decoration: underline;">
000-55838</font></font></font></div>
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<font style="text-decoration: underline"><font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px; text-decoration: underline;">
98-0551945</font></font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(State
or other jurisdiction</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">of
incorporation)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Commission
File No.)</font></div>
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<font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px">1817 W
4<font style="font-size: 70%; vertical-align: top; text-decoration: underline;">th</font>
Street, Tempe, Arizona 85281</font></font></div>
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<font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px">(800)
583-2652</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(Registrant&#x2019;s
Telephone Number)</font></div>
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Applicable</font></font></div>
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Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
&#x2610;</font><font style="color: #000000">&#xA0;Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)</font></font></div>
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&#x2610;</font><font style="color: #000000">&#xA0;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)</font></font></div>
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CFR 240.14d -2(b))</font></font></div>
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&#x2610;</font><font style="color: #000000">&#xA0;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e -4(c))</font></font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Securities registered pursuant to Section 12(b) of the
Act:</font></div>
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<font style="text-decoration: underline"><font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px; text-decoration: underline;">
Title of each class</font></font></font></div>
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<font style="text-decoration: underline"><font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px; text-decoration: underline;">
Trading Symbol(s)</font></font></font></div>
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<font style="text-decoration: underline"><font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px; text-decoration: underline;">
Name of each exchange on which
registered</font></font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Common
Stock, par value $0.0001 per share</font></div>
</td>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">WRAP</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Nasdaq
Capital Market</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR 240.12b-2)</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Emerging Growth Company&#xA0;[X]</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act&#xA0;</font><font style="color: #000000">&#x2610;</font></font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers</font></div>
<br>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">On July 1, 2021, Wrap Technologies, Inc. (the
&#x201C;</font><font style="font-style: italic; color: #000000">Company</font><font style="color: #000000">&#x201D;) announced the appointment of Glenn
Hickman as Chief Operating Officer (&#x201C;<font style="font-style: italic">COO</font>&#x201D;). Since March 2021, Mr.
Hickman has served as a consultant to the Company, and following
his appointment as COO, Mr. Hickman will continue to work closely
with the growing engineering and operations teams to continue
building out the Company&#x2019;s product lines.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Hickman<font style="font-weight: bold">&#xA0;</font>is a proven executive with
extensive research and development, supply chain, manufacturing,
and software engineering experience. Hickman worked at Axon
Enterprises (formerly TASER International) from 2011-2019, serving
as Vice President of Research and Development from 2014-2019. At
Axon, Hickman led the launch of six hardware products, all
connected to an ecosystem of cloud software and mobile apps. He
created engineering and supply chain processes and grew the
engineering team from 35 to 70. Hickman was responsible for
establishing the company&#x2019;s first manufacturing line in
Shenzhen, China, and an optics engineering team in
Finland.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Hickman
graduated with distinction from Stanford University, receiving his
Bachelor and Master of Science in Mechanical Engineering. Hickman
received his MBA with honors from Northwestern University&#x2019;s
Kellogg School of Management with a double major in Strategy and
Marketing.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">In his
capacity as COO, Mr. Hickman will be an at-will employee, and shall
be paid an annual base salary of $225,000 per year. In connection
with his appointment as a consultant, Mr. Hickman was issued (i) a
seven year option to purchase 70,000 shares of the Company&#x2019;s
common stock at an exercise price of $5.50 per share
(&#x201C;<font style="font-style: italic">Option</font>&#x201D;), and
(ii) 30,000 shares of restricted stock (&#x201C;<font style="font-style: italic">RSU</font>s&#x201D;). The RSUs vest 33.33% on
July 1, 2022 with the balance vesting ratably every six months over
the next two years thereafter. The Option vests 33.33% on July 1,
2022 with the balance vesting ratably every month beginning August
1, 2022 over the next two years thereafter.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">On July
1, 2021, <font style="color: #000000">Woody Norris, inventor of the
BolaWrap, retired from the Company as Chief Technology Officer. Mr.
Norris will continue to play an active role at the Company as a
consultant focusing on new innovations.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">A copy of the press release announcing the
appointment of</font> <font style="color: #000000; background-color: #FFFFFF">Mr. Hickman and Mr.
Norris&#x2019; retirement</font> <font style="color: #000000">is
attached to this Current Report on Form 8-K as Exhibit 99.1 and is
incorporated by reference herein.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 8.01. Other Events.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">See
Item 5.02.</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 9.01 Financial Statements and Exhibits</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">See
Exhibit Index.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 36px">
<font style="font-family: Times New Roman; font-size: 13px">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
WRAP TECHNOLOGIES, INC.</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Date:
July 2, 2021</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By:</font></div>
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<font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px">/s/ James A.
Barnes</font></font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">James
A. Barnes</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Chief
Financial Officer, Treasurer and Secretary</font></div>
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Exhibit Index</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-style: italic; font-size: 13px; font-family: Times New Roman">
Exhibit No.</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-style: italic; font-size: 13px; font-family: Times New Roman">
Description</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 11%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="ex99-1.htm"><font style="font-size: 13px; font-family: Times New Roman">99.1</font></a></div>
</td>
<td style="vertical-align: bottom; width: 2%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Press Release Dated
July 2, 2021</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
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<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
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<title>ex99-1</title>
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Exhibit 99.1</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
WRAP Appoints Public Safety Technology Executive Glenn Hickman as
Chief Operating Officer</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 16px">
Former Axon Enterprises product leader to continue advancing
BolaWRAP family of products</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 16px">
Elwood &#x201C;Woody&#x201D; Norris retiring from CTO Role, remain as
strategic consultant</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
TEMPE, Arizona, July 2, 2021 -- Wrap Technologies, Inc. (the
"Company" or "WRAP") (Nasdaq: WRAP</font><font style="color: #000000">), a global leader in innovative public safety
technologies and services, announced the appointment of Glenn
Hickman as Chief Operating Officer. Hickman will work closely with
the growing engineering and operations teams to continue building
out WRAP&#x2019;s product lines. Woody Norris, inventor of the
BolaWRAP, retired as CTO at the end of June and will continue to
play an active role at WRAP as a strategic consultant focusing on
new innovations.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Hickman<font style="font-weight: bold">&#xA0;</font>is
a proven executive with extensive research and development, supply
chain, manufacturing, and software engineering experience. Hickman
worked at Axon Enterprises (formerly TASER International) from
2011-2019, serving as Vice President of Research and Development
from 2014-2019. At Axon, Hickman led the launch of six hardware
products, all connected to an ecosystem of cloud software and
mobile apps. He created engineering and supply chain processes and
grew the engineering team from 35 to 70. Hickman was responsible
for establishing the company&#x2019;s first manufacturing line in
Shenzhen, China, and an optics engineering team in
Finland.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Hickman
graduated with distinction from Stanford University, receiving his
Bachelor and Master of Science in Mechanical Engineering. Hickman
received his MBA with honors from Northwestern University&#x2019;s
Kellogg School of Management with a double major in Strategy and
Marketing.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;I
am proud to have Glenn join our executive team and work with Woody
to continue the advancement of our BolaWRAP and WRAP Reality family
of products,&#x201D; said Tom Smith, President and CEO at WRAP.
&#x201C;As Woody continues to work on true innovation projects at
WRAP, it is reassuring to know that Glenn will also be working to
help drive new product development and organizational processes.
Glenn&#x2019;s impressive experience will be invaluable for WRAP as
we grow.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">"I am
excited to join WRAP to help develop and deliver solutions that
solve the difficult problems facing law enforcement and their
communities,&#x201D; said Hickman. &#x201C;The strong team that WRAP
is assembling will continue to generate innovations around
Woody&#x2019;s original BolaWRAP invention and WRAP&#x2019;s recently
launched WRAP Reality platform.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Woody
Norris has had a long, distinguished career, authoring more than 80
US patents as an award-winning American inventor and serial
entrepreneur. He will continue to work on breakthrough technologies
for WRAP while also taking some well-deserved time for
himself.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
About WRAP</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WRAP
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 safely
protect and effectively serve their communities through its
portfolio of advanced technology and superior training
solutions.&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">
WRAP&#x2019;s BolaWRAP&#xAE; Remote Restraint device is a patented,
hand-held pre-escalation and apprehension tool that discharges a
Kevlar&#xAE; 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</font> <font style="text-decoration: underline; color: #0563C1; font-size: 13px">proving</font>
<font style="font-size: 13px">to be an effective tool to safely
detain persons without injury or the need to use higher levels of
force.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">WRAP
Reality, the Company&#x2019;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.</font></div>
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WRAP&#x2019;s headquarters are in Tempe, Arizona. For more
information, please visit</font> <font style="text-decoration: underline; color: #0563C1; font-size: 13px">wrap.com</font><font style="font-size: 13px">.</font></font></div>
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Follow WRAP here:</font></div>
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WRAP on Facebook:</font> <font style="text-decoration: underline; color: #0563C1; font-size: 13px">https://www.facebook.com/wraptechnologies/</font></font></div>
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WRAP on Twitter:</font> <font style="text-decoration: underline; color: #0563C1; font-size: 13px">https://twitter.com/wraptechinc</font></font></div>
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WRAP on LinkedIn:</font> <font style="text-decoration: underline; color: #0563C1; font-size: 13px">https://www.linkedin.com/company/wraptechnologies/</font></font></div>
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Trademark Information</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">BolaWrap,
Wrap and Wrap Reality are trademarks of Wrap Technologies, Inc. All
other trade names used herein are either trademarks or registered
trademarks of the respective holders.</font></div>
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Cautionary Note on Forward-Looking Statements - Safe Harbor
Statement</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">This
press release contains "forward-looking statements" within the
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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", and variations of
these terms or the negative of these terms and similar expressions
are intended to identify these forward-looking statements.
Moreover, 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 successfully 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
business impact of health crises or outbreaks of disease, such as
epidemics or pandemics; the ability to obtain export licenses for
countries 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 mentioned in the Company's
most recent annual report on Form 10-K, 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.</font></div>
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Contact:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Paul M.
Manley</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">VP
&#x2013; Investor Relations</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(612)
834-1804</font></div>
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<font style="text-decoration: underline; color: #0563C1; font-size: 13px; font-family: Times New Roman">
pmanley@wrap.com</font></div>
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Media Contact:</font> <font style="text-decoration: underline; color: #0563C1; font-size: 13px">media@wrap.com</font></font></div>
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