WRAP on Nasdaq

WRAP Technologies

Logo: wrap.com3

Company that produces remote restraint devices and technology based in Tempe, founded in 20161

In its 2026 annual report the company says: “We are a global public safety technology and services company focused on delivering integrated non-lethal solutions for law enforcement, corrections, defense, and other public safety organizations worldwide.”7 Its shares trade on Nasdaq under the symbol WRAP.1

Price unavailable

Last updated Oct 20, 2026.

Overview

2016Founded1

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  • TickerWRAP on Nasdaq1
  • IndustryOrdnance & Accessories, (No Vehicles/Guided Missiles)1
  • HeadquartersTempe1
  • Websitewrap.com
  • Incorporated inDE4
  • Business address3480 Main Hwy, Suite 202, Miami, Fl 331334
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation

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WRAP Technologies image from its website
Image: wrap.com6

We are a global public safety technology and services company focused on delivering integrated non-lethal solutions for law enforcement, corrections, defense, and other public safety organizations worldwide. Our mission is to enable safer outcomes by providing officers and agencies with the tools, training, and tactics to gain proactive, lawful control of encounters, reducing risk to both officers and subjects, while preserving tactical advantage.7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

57.8%Gross margin8
-288.6%Operating margin8
-221.2%Net margin8
3.7%Revenue growth, 20258
-89.9%Return on equity8
-$10.4MFree cash flow8

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue11¢$2.0M
  • Research and development0¢$56.0K
  • Selling, general and admin89¢$16.1M

Out of $4.7M in revenue.8 The company lost money this year.

Financial statements

Revenue9101112138$4.7M in 2025+571% since 2019
0$2.5M$5.0M$7.5M$10.0M2019: $696.8K$696.8K20192020: $3.9M$3.9M2020+466%2021: $7.7M$7.7M2021+96%2022: $8.0M$8.0M2022+4%2023: $6.1M$6.1M2023−24%2024: $4.5M$4.5M2024−27%2025: $4.7M$4.7M2025+4%
Gross profit9101112138$2.7M in 2025+875% since 2019
0$1.0M$2.0M$3.0M$4.0M2019: $276.8K$276.8K20192020: $1.3M$1.3M2020+385%2021: $2.0M$2.0M2021+49%2022: $3.7M$3.7M2022+87%2023: $2.9M$2.9M2023−22%2024: $2.5M$2.5M2024−15%2025: $2.7M$2.7M2025+9%
Operating income9101112138-$13.5M in 2025+57% since 2019
-$30.0M-$20.0M-$10.0M02019: -$8.6M-$8.6M20192020: -$13.1M-$13.1M2020+52%2021: -$24.5M-$24.5M2021+87%2022: -$17.7M-$17.7M2022−28%2023: -$18.7M-$18.7M2023+6%2024: -$15.6M-$15.6M2024−17%2025: -$13.5M-$13.5M2025−13%
Net income9101112138-$10.3M in 2025+24% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$8.3M-$8.3M20192020: -$12.6M-$12.6M2020+51%2021: -$24.4M-$24.4M2021+94%2022: -$17.6M-$17.6M2022−28%2023: -$30.2M-$30.2M2023+72%2024: -$5.9M-$5.9M2024−81%2025: -$10.3M-$10.3M2025+76%

Every line of the income statement as filed: the last 2 fiscal years, latest first.8

Period ending2025-12-312024-12-31
Total revenues, gross$5.2M$4.5M
Sales returns and allowances-$531.0K$0
Total revenues, net$4.7M$4.5M
Cost of revenues$2.0M$2.0M
Gross profit$2.7M$2.5M
Selling, general and administrative$16.1M$15.7M
Research and development$56.0K$2.3M
Total operating expenses$16.2M$18.0M
Loss from operations-$13.5M-$15.6M
Interest Income$7.0K$156.0K
Change in fair value of warranty liabilities$3.2M$9.6M
Other-$15.0K-$36.0K
Total other income / (expense), net$3.1M$9.7M
Less: Convertible preferred stock dividends-$903.0K-$1.2M
Net loss attributable to common stockholders-$11.2M-$7.1M
Net loss per basic share of Common Stock (in Dollars per share)-$0.22-$0.16
Net loss per diluted share of Common Stock (in Dollars per share)-$0.22-$0.16
Weighted average shares of Common Stock used to compute net loss per basic shares of Common Stock (in Shares)50.4M shares45.6M shares
Weighted average shares of Common Stock used to compute net loss per diluted shares of Common Stock (in Shares)50.4M shares45.6M shares
Net loss-$10.3M-$5.9M
Comprehensive loss-$10.3M-$5.9M

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Corporate structure

WRAP Technologies sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of WRAP Technologies

  • Elwood G. Norris Filed SCHEDULE 13G/A on WRAP Technologies, latest Jul 9, 2026 (4 filings since May 8, 2025)
  • Iroquois Capital Management, LLC Filed SCHEDULE 13G/A on WRAP Technologies, latest May 15, 2026 (2 filings since Feb 11, 2026)
  • Scot Cohen Filed SCHEDULE 13D/A on WRAP Technologies, latest Mar 6, 2026 (3 filings since May 3, 2024)
  • James A. Barnes Filed SC 13D/A on WRAP Technologies, latest May 2, 2023 (2 filings since Feb 11, 2022)
  • WRAP Technologies Tempe
    • GSRI Services, LLC Subsidiary · Delaware, United States
    • Intrensic, LLC Subsidiary · Delaware, United States
    • Wrap Federal, LLC Subsidiary · Delaware, United States
    • Wrap Reality, Inc. Subsidiary · Arizona, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What WRAP Technologies reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$1.2M8 Dec 31, 2025$1.4M8 Dec 31, 2024−9.3%
Accumulated depreciation$1.1M8 Dec 31, 2025$1.2M8 Dec 31, 2024−8.5%
Property and equipment, net$123.0K8 Dec 31, 2025$146.0K8 Dec 31, 2024−15.8%
Operating-lease assets (leased space)$2.2M8 Dec 31, 2025$2.0M8 Dec 31, 2024+10.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$3.5M8 Dec 31, 2025$3.6M8 Dec 31, 2024−3.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$08 Dec 31, 2025$08 Dec 31, 2024
Intangible assets, net (excluding goodwill)$1.6M8 Dec 31, 2025$2.4M8 Dec 31, 2024−33.2%
Indefinite-lived intangibles (excluding goodwill)$421.0K8 Dec 31, 2025$421.0K8 Dec 31, 20240%
Finite-lived intangibles, gross$2.0M8 Dec 31, 2025$3.2M8 Dec 31, 2024−36.6%
Accumulated amortization$870.0K8 Dec 31, 2025$1.3M8 Dec 31, 2024−30.7%
Finite-lived intangibles, net$1.2M8 Dec 31, 2025$1.9M8 Dec 31, 2024−40.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$5.0M8 Dec 31, 2025$6.2M8 Dec 31, 2024−19.4%
Raw materials$2.0M8 Dec 31, 2025$2.3M8 Dec 31, 2024−12.6%
Finished goods$3.5M8 Dec 31, 2025$4.4M8 Dec 31, 2024−20.0%

Properties, in its own words

In November 2023, we commenced a lease in an office building located at 3480 Main Highway, Coconut Grove, Florida, which served as our corporate headquarters. The lease covered approximately 4,487 square feet for an initial term of 89 months, including five months of rent abatement during the first two years of the lease. Monthly lease payments recommenced in 2024 at approximately $39,635 per month and an increase of 3% annually through the lease term, plus certain additional costs and charges as specified in the lease agreement. In February 2026, the Company entered into a Termination and Mutual Release Agreement with the landlord, terminating this lease effective February 13, 2026.

On January 3, 2025, we signed a lease that was to commence on the later of October 2025, or the completion of the premises, for a manufacturing facility located at 182 Progress Way NE, Norton, Virginia 24273. The lease of the 20,000 square foot facility has an initial term of five years with the option to renew for an additional two-year term, subject to adjustments based on the Consumer Price Index. Monthly lease payments are $10,000, calculated at $6 per gross square foot per year. Following two years of occupancy from the start of the lease, we may terminate the lease without penalty by providing sixty days' written notice. The Company was granted early occupancy of the facility for use beginning on August 18, 2025.

The rest of Item 2

In March 2026, we entered into a month-to-month service agreement for a business address located at 3350 Virginia Street, Miami, Florida 33133, at an approximate monthly cost of $165, which serves as the Company's headquarters.

We consider our current office space adequate for our current operations.

Item 2 of the 10-K filed Mar 26, 2026.7

Leadership

Who has led WRAP Technologies, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Marc Terrell Thomas2020
  2. Leo William Varner Jr.2022
  3. Tj Kennedy2022–2023
  4. Kevin W. Mullins2023

President

  1. James A. Barnes2017
  2. Kevin W. Mullins2022–2023
  3. Jared Novick2025–now

Chief financial officer

  1. James A. Barnes2017–2022
  2. Christopher James Dealmeida2022–2023
  3. Gerald Thomas Ratigan Jr.2025–now

Chief operating officer

  1. Michael James Rothans2018–2020
  2. Glenn M. Hickman2021–2023
  3. Jared Novick2023–now
20202025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Executive Officer and Executive Chairman of the BoardScot Cohen named Mar 12, 2025 to Feb 13, 202641
  • DirectorBruce Bernstein named Mar 12, 2025 to Feb 13, 202641

Products and brands

  • law enforcement equipment

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • GSRI Services, LLC Delaware5
  • Intrensic, LLC Delaware5
  • Wrap Federal, LLC Delaware5
  • Wrap Reality, Inc. Arizona5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 9, 20268-K Entered a material agreement; Executive or director change42
  2. Aug 18, 20268-K Entered a material agreement; Other events43
  3. Aug 18, 20268-K Other events44
  4. Aug 11, 20268-K Results of operations45
  5. Jul 13, 20268-K Entered a material agreement; Other events46
  6. May 13, 20268-K Results of operations47
  7. Mar 26, 20268-K Results of operations48
  8. Feb 4, 20268-K Entered a material agreement; Unregistered sale of shares; Other events49
  9. Dec 17, 20258-K Change to shareholders' rights; Executive or director change; Bylaws or fiscal year changed50
  10. Nov 12, 20258-K Results of operations51
  11. Nov 5, 20258-K Bylaws or fiscal year changed52
  12. Oct 27, 20258-K Executive or director change; Other events53
  13. Apr 26, 2023New chief executive Kevin W. Mullins becomes CEO16
  14. Apr 22, 2022New chief executive Tj Kennedy becomes CEO18
  15. Feb 25, 2022New chief executive Leo William Varner Jr. becomes CEO17
  16. Dec 1, 2020Went public Listed on NASDAQ1
  17. Aug 6, 2020New chief executive Marc Terrell Thomas becomes CEO19
  18. 2016Founded Founded1

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/202654

When it reported results

  1. Aug 11, 2026Reported quarterly or annual results45
  2. May 13, 2026Reported quarterly or annual results47
  3. Mar 26, 2026Reported quarterly or annual results48
  4. Nov 12, 2025Reported quarterly or annual results51
  5. Aug 14, 2025Reported quarterly or annual results55
  6. Nov 15, 2024Reported quarterly or annual results56
  7. Apr 15, 2024Reported quarterly or annual results57
  8. Nov 16, 2023Reported quarterly or annual results58

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

337 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 72 major events, 183 insider forms, 11 large holders, 3 private raises, 46 other. The latest 20:

  1. Oct 9, 20264 EDGAR
  2. Oct 9, 20264 EDGAR
  3. Oct 9, 20264 EDGAR
  4. Oct 9, 20264 EDGAR
  5. Oct 9, 20264 EDGAR
  6. Oct 9, 20264 EDGAR
  7. Sep 9, 20264 EDGAR
  8. Sep 9, 20264/A EDGAR
  9. Sep 9, 20264/A EDGAR
  10. Sep 9, 20268-K EDGAR
  11. Sep 4, 20264 EDGAR
  12. Sep 4, 20264 EDGAR
  13. Aug 18, 20268-K EDGAR
  14. Aug 18, 20268-K EDGAR
  15. Aug 18, 2026424B5 EDGAR
  16. Aug 11, 20268-K EDGAR
  17. Aug 11, 202610-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) EDGAR
  18. Jul 13, 20268-K EDGAR
  19. Jul 10, 20264/A EDGAR
  20. Jul 9, 20264 EDGAR

The 337 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

70 open-market trades by officers, directors and large owners since October 2021: 19 buys and 51 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 8, 2026Cohen ScotExecutive Chairman and CEOBuy209,353$1.10$230.3KForm 4
Jul 8, 2026SHULMAN JOHN DDirectorBuy100,000$1.10$110.0KForm 4
Jul 8, 2026Cohen ScotExecutive Chairman and CEOBuy21,740$1.10$23.9KForm 4
Feb 10, 2026NORRIS ELWOOD G10% ownerSale27,104$1.82$49.3KForm 4
Feb 9, 2026NORRIS ELWOOD G10% ownerSale35,000$1.82$63.7KForm 4
Feb 6, 2026NORRIS ELWOOD G10% ownerSale75,000$1.87$140.2KForm 4
Feb 3, 2026NORRIS ELWOOD G10% ownerSale20,000$2.20$44.0KForm 4
Feb 2, 2026NORRIS ELWOOD G10% ownerSale31,991$2.08$66.5KForm 4
Jan 29, 2026NORRIS ELWOOD G10% ownerSale80,000$2.21$176.8KForm 4
Jan 28, 2026NORRIS ELWOOD G10% ownerSale68,020$2.46$167.3KForm 4
Nov 28, 2025NORRIS ELWOOD G10% ownerSale5,000$2.15$10.8KForm 4
Nov 26, 2025NORRIS ELWOOD G10% ownerSale5,000$2.14$10.7KForm 4
Nov 24, 2025NORRIS ELWOOD G10% ownerSale30,000$2.06$61.8KForm 4
Nov 21, 2025NORRIS ELWOOD G10% ownerSale10,536$2.06$21.7KForm 4
Nov 20, 2025NORRIS ELWOOD G10% ownerSale17,008$2.02$34.4KForm 4
Nov 19, 2025NORRIS ELWOOD G10% ownerSale3,013$2.02$6.1KForm 4
Nov 14, 2025NORRIS ELWOOD G10% ownerSale55,000$2.36$129.8KForm 4
Nov 13, 2025NORRIS ELWOOD G10% ownerSale20,000$2.09$41.8KForm 4
Nov 12, 2025NORRIS ELWOOD G10% ownerSale25,000$2.16$54.0KForm 4
Nov 11, 2025NORRIS ELWOOD G10% ownerSale5,000$2.20$11.0KForm 4

All 70 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Scot Cohen55$200.0K$2.0M63
2024Jared Novick41$190.9K$375.9K63
2024Chris DeAlmeida$16.7K$154.2K63
2024Kevin Mullins$137.5K63
2023Chief Executive Officer andExecutive Chairman$39.3K$2.5M63
2023Former Chief Executive Officerand Director$300.0K$450.0K63
2023Chief Operating Officer$443.6K63
2023Former Chief FinancialOfficer, Treasurer and Secretary$275.0K$332.3K63

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Feb 2, 2026Raised $5 million in a private offering of equity Form D: 14 investors so far Form D
  2. Aug 18, 2025Raised $4.5 million in a private offering of equity Form D: 10 investors so far Form D
  3. Feb 28, 2025Raised $5.8 million in a private offering of equity Form D: 12 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 61. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC1,547,010$2.0M0.0%+7,872
Raymond James Financial Inc683,397$881.6K0.0%−8,176
BlackRock, Inc.569,372$734.5K0.0%+44,674
Geode Capital Management, LLC432,841$558.7K0.0%−38,977
Renaissance Technologies LLC358,100$461.9K0.0%+41,338
Platform Technology Partners234,607$302.6K0.0%New
Vanguard Fiduciary Trust Co222,269$286.7K0.0%+1,542
LPL Financial LLC202,484$261.2K0.0%−2,111
Citadel Advisors LLC163,077$210.4K0.0%+57,968
Caption Management, LLC147,637$190.5K0.0%−439
State Street Corp129,667$167.3K0.0%No change
Marshall Wace, Llp106,592$137.5K0.0%−96,806
Alerus Financial Na97,760$126.1K0.0%No change
Royal Capital Wealth Management, LLC89,521$115.5K0.1%No change
UBS Group AG88,860$114.6K0.0%+6,742
Susquehanna International Group, Llp88,238$113.8K0.0%−33,463
Northern Trust Corp87,799$113.3K0.0%+18,684
NorthRock Partners, LLC62,344$80.4K0.0%No change
Jane Street Group, LLC51,088$65.9K0.0%−14,018
Main Street Financial Solutions, LLC47,400$61.1K0.0%No change
XTX Topco Ltd40,173$51.8K0.0%+1,513
Robertson Stephens Wealth Management, LLC33,699$43.5K0.0%−4,947
Seelaus Asset Management LLC29,857$38.5K0.0%−1,083
Squarepoint Ops LLC27,173$35.1K0.0%New
Charles Schwab Investment Management Inc21,515$27.8K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How WRAP Technologies is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARWRAP TECHNOLOGIES, INC.2
  • CIK0001702924
  • Employer ID (EIN)98-05519457
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company7
  • Incorporated inDelaware7
  • Fiscal year endsDecember 312
  • Industry code (SIC)3480 Ordnance & Accessories, (No Vehicles/Guided Missiles)2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address3480 Main Hwy, Suite 202, Miami, FL 331332
  • Phone800-583-26522
  • Shares outstanding56,003,638 as of Aug 7, 202615
  • Public float$79.1M as of Jun 30, 20257
  • AuditorHTL International, LLC, Houston, TX PCAOB ID 7000; no auditor attestation of internal control over financial reporting7
  • On EDGAR sinceApr 17, 20172
  • Filings561 in all: 4 (249), 8-K (116), 10-Q (28), 3 (25), CORRESP (14), EFFECT (11), UPLOAD (10), 10-K (9)2
    All 36 form types

    4/A (9), DEF 14A (8), 424B3 (7), S-1/A (7), S-3 (7), D (6), 424B5 (5), DEFA14A (5), 144 (4), S-3/A (4), S-8 (4), SCHEDULE 13D/A (4), 10-K/A (3), S-1 (3), SC 13D (3), SC 13D/A (3), ARS (2), PRE 14A (2), SC 13G/A (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 8-A12B (1), 8-A12G (1), CERT (1), D/A (1), NT 10-K (1), POS AM (1), SC 13G (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Nov 17, 2025
    Latest 8-K (8-K) Sep 9, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareWRAPNasdaq

From the cover page of the 10-K filed Mar 26, 2026 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

The risks WRAP Technologies names in Item 1A of its 10-K filed Mar 26, 2026: 57 risks under these headings, as written.7

  • We have a history of operating losses, expect additional losses and may not achieve or sustain profitability.
  • We may need additional capital to execute our business plan, and raising additional capital, if possible, by issuing additional equity securities may cause dilution to existing stockholders. In addition, raising additional capital by issuing additional debt instruments may restrict our operations.
  • We expect to be dependent on sales of our BolaWrap product line for the foreseeable future, and if this product is not widely accepted, our growth prospects will be diminished.
  • We face risks commercializing our virtual reality training platform and may be unsuccessful in growing revenues.
  • We face competition from companies with greater financial, technical, sales, marketing and other resources, and, if we are unable to compete effectively with these competitors, our business could be harmed.
  • We are materially dependent on the acceptance of our product by the law enforcement market. If law enforcement agencies do not purchase our product or we do not meet their expectations, our revenue will be adversely affected and we may not be able to expand into other markets, or otherwise continue as a going concern.
  • Some components of our products pose potential safety risks, and our devices and related training products may be used in inherently dangerous situations, which expose us to personal injury and other liability claims that could harm our reputation and adversely affect our sales and financial condition.
  • The effectiveness of our products depends on customer training, policies, and implementation practices, which we do not control.
  • Our subscription-based revenue model may result in revenue volatility, delayed recognition and customer churn.
  • The use of certain of our solutions may be perceived as, or determined by the courts to be, in violation of privacy rights and related laws. Any such perception or determination could adversely affect our financial results and results of operations.
  • Contracting with government entities, including police departments, can be complex, expensive, and time-consuming.
  • Our recent expansion into drone and counter-UAS technologies may not be successful, and we may fail to achieve commercial adoption or generate meaningful revenue from these initiatives.
The other 45 risks
  • Our business strategy depends heavily on government and law-enforcement customers, who are subject to lengthy procurement cycles, budget constraints, and shifting priorities.
  • Our drone and aerial-interdiction systems are subject to evolving regulatory, legal and liability risks that could restrict our operations or expose us to claims.
  • We may face manufacturing and supply-chain challenges as we expand production of new technologies. To support our entry into drone-related markets, we are increasing production capacity, including at our new Virginia facility.
  • We may incur significant and unpredictable warranty costs as our products are produced, sold, and used.
  • We could incur charges for excess or obsolete inventory and incur production costs for improvements or model changes.
  • Our international operations could be harmed by factors including natural disasters, fluctuations in currency exchange rates, and changes in regulations that govern international transactions.
  • Global economic weakness and uncertainty, geopolitical conflict, war, and civil unrest, could adversely affect our revenues, gross margins and expenses.
  • Public health crises could adversely affect our business, financial condition and results of operations.
  • We anticipate that a significant portion of our revenue in the short-term will be generated from international sales, which may adversely affect our ability to timely collect accounts receivable.
  • If we are unable to manage our projected growth, our growth prospects may be limited, and our future profitability may be adversely affected.
  • We may face personal injury and other liability claims that harm our reputation and adversely affect our sales and financial condition.
  • The nature of our business may result in undesirable press coverage or other negative publicity.
  • Our future success is dependent on our ability to expand sales, and our inability to grow our sales force or maintain and grow distributors would negatively affect our sales.
  • We expect to expend significant resources to generate sales due to our lengthy sales cycle, and such efforts may not result in the level of sales or revenue we expect.
  • Most of our intended end-users are subject to budgetary and political constraints that may delay or prevent sales.
  • Our dependence on third-party suppliers for key components of our products makes us vulnerable to price increases, inflation, recession, and supply shortages that could delay shipment of our products and reduce our sales or margins.
  • Market and economic conditions may negatively impact our business, financial condition and share price.
  • We may not be able to successfully integrate acquisitions in the future, and we may not be able to realize revenue enhancements or other synergies from such acquisitions.
  • Government regulation of our products may adversely affect sales.
  • Our products, including the BolaWrap 150, are protected by limited patent and other intellectual property protection. If we are unable to protect our intellectual property, we may lose a competitive advantage or incur substantial litigation costs to protect our rights.
  • We may not be able to protect our intellectual property rights throughout the world.
  • If we are unable to maintain effective proprietary rights for our technologies or commercial products, we may not be able to compete effectively in our markets.
  • Our competitive position may be seriously damaged if our products are found to infringe on the intellectual property rights of others.
  • Obtaining and maintaining patent protection depends on compliance with various procedures, document submissions, fee payments and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated in case of non-compliance with these requirements.
  • Competition in the law enforcement market could reduce our sales, make our products obsolete or inferior and prevent us from achieving profitability.
  • Foreign currency fluctuations may reduce our competitiveness and sales in international markets.
  • Our business is dependent on the ability to attract and retain key personnel.
  • A failure in or breach of our or our operational or security systems or infrastructure, or those of third parties with which we do business, including as a result of cyberattacks, could disrupt our businesses, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and cause losses.
  • We cannot predict our future operating results. Our quarterly and annual results will likely be subject to fluctuations caused by many factors, any of which could result in our failure to achieve our expectations.
  • Our expenses may vary from period to period, which could affect quarterly results and our stock price.
  • The Series A Preferred Stock provides for the payment of dividends in cash or in shares of our Common Stock, or a combination thereof, and we may not be permitted to pay such dividends in cash, which will require us to have shares of Common Stock available to pay the dividends.
  • The Certificate of Designations of the Series B Convertible Preferred Stock provides for the payment of cumulative dividends in shares of our Common Stock which will require us to have shares of Common Stock available to pay the dividends.
  • The Series B Warrants contain certain anti-dilution provisions, which may dilute the interests of our stockholders, depress the price of our Common Stock, and make it difficult for us to raise additional capital.
  • Our stock price is volatile and may continue to be volatile or may decline regardless of our operating performance, resulting in substantial losses for investors.
  • We have been, and in the future may be, subject to securities litigation, which has and may be expensive and has and could divert management attention.
  • Our officers and directors are among our largest stockholders and may have certain personal interests that may affect the Company.
  • Sales of a substantial number of shares of our Common Stock may adversely affect the market price of our Common Stock.
  • Our Common Stock could be delisted from the Nasdaq Stock Market.
  • We may issue additional shares of Common Stock in the future. The issuance of additional shares of Common Stock may reduce the value of your Common Stock.
  • Sales of shares of Common Stock issuable upon the exercise of any future options or warrants and vesting of restricted stock units may lower the price of our Common Stock.
  • We may issue preferred stock in the future, and the terms of the preferred stock may reduce the value of your Common Stock.
  • We incur substantial costs as a result of being a public company.
  • The payment of dividends will be at the discretion of our Board.
  • General Risk Factors
  • Our disclosure controls and procedures may not prevent or detect all acts of fraud.
  • Failure to maintain an effective system of internal control over financial reporting could harm stockholder and business confidence in our financial reporting, our ability to obtain financing and other aspects of our business.

Legal proceedings

We may become subject to legal proceedings, as well as demands and claims that arise in the normal course of our business, including claims of alleged infringement of third-party patents and other intellectual property rights, breach of contract, employment law violations, and other matters and matters involving requests for information from us or our customers under federal or state law. Such claims, even if not meritorious, could result in the expenditure of significant financial and management resources. We make a provision for liability relating to legal matters in our financial statements when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed and adjusted to include the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel, and other information and events pertaining to a particular matter.

An unfavorable outcome on any litigation matters could require payment of substantial damages, or, in connection with any intellectual property infringement claims, could require us to pay ongoing royalty payments or could prevent us from selling certain of our products. As a result, a settlement of, or an unfavorable outcome on, any of the matters referenced above or other litigation matters, or legal proceedings could have a material adverse effect on our business, operating results, financial condition and cash flows.

The opening of Item 3, Legal Proceedings.7

Sources

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    SEC EDGAROther events
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