Wrap Technologies Promotes David Norris to Chief Executive Officer
Norris is an experienced executive and joined the Company as President in January 2018. From April 2014 to December 2017 Norris served in various executive roles, including President at privately held loanDepot, LLC as it rapidly expanded into the 5th largest mortgage lender in the US. loanDepot had 6,000 employees and generated $1B in revenue in 2017.
Prior to his time at loanDepot, Norris served as CEO of Greenlight Financial, President of LendingTree Loans, and other executive and management roles at Toshiba America Information Systems and Qualcomm Personal Electronics. In his early career, Norris served as a probation officer in San Diego County for five years.
“David’s operational, engineering and manufacturing experience will be essential to our success. His track record of running large and small businesses speaks for itself,” said Scot Cohen, Executive Chairman of the Board. “David’s integrity, knowledge, passion and reliability made him the success he is today. I’m grateful and proud to have him lead this company going forward.”
In his role as Chief Executive Officer, Norris will work to strengthen the Company’s sales and manufacturing initiatives to facilitate mass production and distribution of the BolaWrap 100 product in 2019. Norris will also support the Company’s award-winning inventor and Chief Technology Officer, Woody Norris, as he leads the Company’s research and development team to create new technological solutions for law enforcement and military.
“I’m excited about the opportunity to lead Wrap Technologies, especially now as the community demands alternative outcomes to everyday encounters with law enforcement. More effective, less lethal tools are needed, and we’re going to do our part to ensure the safety of officers and citizens alike,” Norris said.
“I think the Wrap Technologies management team consisting of leading executives, innovators, law enforcement professionals and manufacturing wizards provides a promising environment to make a large impact. I look forward to building upon that foundation through strong sales efforts, strategic acquisitions and partnerships, new products, and operational efficiencies to ensure we deliver the best products possible,” Norris added.
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.
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 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.
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