Wrap Technologies, Inc. Provides Update on Operations and Timing to Report Financial Results - Seite 2

Second Quarter 2024:

• We anticipate significant price increases across all product lines due to enhanced features and increased demand.
• Wrap is actively working to secure state and federal mandates for BolaWrap, which could further enhance market penetration and growth.

The foregoing projected outlook constitutes forward-looking information and is intended to provide information about management's current expectations for the Company's first and second quarters of 2024. Although considered reasonable as of the date hereof, this outlook, and the underlying assumptions may prove to be inaccurate. Accordingly, actual results could differ materially from the Company's expectations as set forth herein. See "Forward-Looking Statements".

In preparing the above outlook, the Company assumed, among other things, (i) that the Company’s backlog orders will translate into revenue, (ii) that the Company will be able to satisfactorily complete and deliver all orders and (iii) the timely payment by customers for all billings. This section includes forward-looking statements. See "Forward-Looking Statements".

Commitment to Operational Efficiency and Financial Controls:

Wrap’s management team is committed to enhancing operational efficiencies, reducing expenses, and strengthening financial controls. This commitment is designed to position the business for sustainable growth, supported by informed planning and a quantified sales pipeline to accurately forecast operational production. Enhanced controls and improved internal processes will drive the efficiencies essential for our long-term success.

Field Data Highlights

“I am pleased to share exciting developments regarding BolaWrap, which has transitioned from being perceived merely as a novel device to being recognized as a premier, high-quality law enforcement technology. This recognition comes as full-scale departments across some of our nation's most revered law enforcement agencies have adopted it extensively,” said Scot Cohen, Executive Chair and CEO.

Cohen continued, “The field data have demonstrated that Wrap’s solution set is poised for potential widespread adoption. BolaWrap is being used more often with higher rates of success and exceptionally low injury rates. It has established itself as the ONLY non-lethal tool we are aware of that does NOT rely on pain to gain compliance.”

During the recent reporting period, Wrap is proud to announce significant milestones in the deployment of the BolaWrap. Notably, Fairfax County Police and the Detroit Police Department’s Mental Health Crisis Intervention Team (CIT) have fully implemented the BolaWrap as a critical tool in their operations. These deployments are among many others that reflect the growing trust and reliance on our technology to manage challenging law enforcement situations safely and effectively.