Wrap Pronounces First Sale of Wrap Actuality Inmate Societal

TEMPE, Ariz., July 06, 2022 (GLOBE NEWSWIRE) — Wrap Applied sciences, Inc. (Nasdaq: WRAP) (the “Firm”), a world chief in revolutionary public security applied sciences and companies, as we speak introduced the sale of its Societal Reentry Digital Actuality Software program to a corrections company in Ohio because the Firm continues to increase into different buyer segments.

The reentry and rehabilitation software program is a product line of the Firm’s Wrap Actuality digital actuality coaching system and is designed to show incarcerated people coping expertise by exposing them to numerous conditions in an immersive, 360-degree setting. This system has six ranges of analysis together with quizzes and instruction-based eventualities and offers academic content material for establishing a broad vary of expertise.

“This sale marks an vital milestone in Wrap Actuality’s continued enlargement into the bigger digital actuality software program markets,” commented Wrap CEO, TJ Kennedy. “We anticipate to see extra adoption by corrections companies as we proceed to coach {the marketplace} on the necessity to leverage digital actuality for incarcerated people to arrange for re-integration into society.”

About Wrap
Wrap Applied sciences (Nasdaq: WRAP) is a world chief in revolutionary public security applied sciences and companies. Wrap develops inventive options to advanced points and empowers public security officers to guard and serve their communities by means of its portfolio of superior expertise and coaching options. 

Wrap’s BolaWrap^® Distant Restraint machine is a patented, hand-held pre-escalation and apprehension device that discharges a Kevlar^® tether to briefly restrain uncooperative suspects and individuals in disaster from a distance. By way of its many area makes use of and rising adoption by companies throughout the globe, BolaWrap is proving to be an efficient device to assist regulation enforcement safely detain individuals with out harm or the necessity to use increased ranges of pressure.

Wrap Actuality, the Firm’s digital actuality coaching system, is a completely immersive coaching simulator and complete public security coaching platform offering first responders with the self-discipline and observe in strategies of de-escalation, battle decision, and use-of-force to raised carry out within the area.

Wrap’s headquarters are in Tempe, Arizona. For extra data, please go to wrap.com.

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Trademark Info
BolaWrap, Wrap and Wrap Actuality are logos of Wrap Applied sciences, Inc. All different commerce names used herein are both logos or registered logos of the respective holders.

Cautionary Word on Ahead-Trying Statements – Protected Harbor Assertion
This press launch comprises “forward-looking statements” inside the that means of the “secure harbor” provisions of the Non-public Securities Litigation Reform Act of 1995, together with however not restricted to: statements concerning the Firm’s total enterprise; whole addressable market; and, expectations concerning future gross sales and bills. Phrases reminiscent of “anticipate,” “anticipate,” “ought to”, “imagine”, “goal”, “challenge”, “objectives”, “estimate”, “potential”, “predict”, “could”, “will”, “may”, “intend”, and variations of those phrases or the unfavourable of those phrases and comparable expressions are supposed to establish these forward-looking statements. Furthermore, forward-looking statements are topic to plenty of dangers and uncertainties, a lot of which contain elements or circumstances which are past the Firm’s management. The Firm’s precise outcomes may differ materially from these said or implied in forward-looking statements because of plenty of elements, together with however not restricted to: the Firm’s capacity to profitable implement coaching packages for the usage of its merchandise; the Firm’s capacity to fabricate and produce product for its prospects; the Firm’s capacity to develop gross sales for its new product resolution; the acceptance of present and future merchandise; the supply of funding to proceed to finance operations; the complexity, expense and time related to gross sales to regulation enforcement and authorities entities; the prolonged analysis and gross sales cycle for the Firm’s product resolution; product defects; litigation dangers from alleged product-related accidents; dangers of presidency laws; the enterprise impression of well being crises or outbreaks of illness, reminiscent of epidemics or pandemics; the impression ensuing from geopolitical conflicts and any ensuing sanctions; the power to acquire export licenses for counties exterior of the US; the power to acquire patents and defend IP in opposition to opponents; the impression of aggressive merchandise and options; and the Firm’s capacity to take care of and improve its model, in addition to different threat elements talked about within the Firm’s most up-to-date annual report on Kind 10-Okay, quarterly report on Kind 10-Q, and different SEC filings. These forward-looking statements are made as of the date of this press launch and had been based mostly on present expectations, estimates, forecasts, and projections in addition to the beliefs and assumptions of administration. Besides as required by regulation, the Firm undertakes no responsibility or obligation to replace any forward-looking statements contained on this launch on account of new data, future occasions or adjustments in its expectations.

Contact:
Paul M. Manley
VP – Investor Relations
(612) 834-1804
[email protected]

Media Contact: [email protected]