NetworkNewsBreaks – Wrap Technologies, Inc. (NAS
Post# of 46
(Total Views: 248)
Posted On: 07/31/2020 3:25:26 PM
NetworkNewsBreaks – Wrap Technologies, Inc. (NASDAQ: WRTC) Announces New CEO Appointment, Q2 2020 Results
Wrap Technologies (NASDAQ: WRTC), an innovator of modern policing solutions, on Thursday announced its appointment of Marc Thomas as its chief executive officer, as well as the company’s results for the second quarter ended June 30, 2020. Thomas will succeed David Norris, who has served as the CEO of Wrap Technologies since December 2018 will retain his position as a director following the transition. “During the second quarter of 2020, our team adapted to an unconventional operating environment, successfully increasing awareness of the BolaWrap, driving sales, and positioning Wrap for accelerated growth,” David Norris, director of Wrap Technologies and former chief executive officer, stated in the news release. “Financially, the quarter was highlighted by a substantial increase in our cash position to $35.4 million as we successfully closed a $12.4 million financing arrangement with a group of our existing investors and received an additional $9.2 million during Q2 from the exercise of warrants. Thanks to our team’s flexibility, we also achieved record revenues of $833,000, and we exited the quarter with a $1.5 million backlog, which indicates that our sales channel remained robust despite the complications caused by the coronavirus pandemic. Subsequent to the quarter’s end, we also strengthened our leadership team with the appointment of Marc Thomas as our CEO, whose expertise will be integral to the next phase of Wrap’s evolution.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Wrap Technologies (NASDAQ: WRTC), an innovator of modern policing solutions, on Thursday announced its appointment of Marc Thomas as its chief executive officer, as well as the company’s results for the second quarter ended June 30, 2020. Thomas will succeed David Norris, who has served as the CEO of Wrap Technologies since December 2018 will retain his position as a director following the transition. “During the second quarter of 2020, our team adapted to an unconventional operating environment, successfully increasing awareness of the BolaWrap, driving sales, and positioning Wrap for accelerated growth,” David Norris, director of Wrap Technologies and former chief executive officer, stated in the news release. “Financially, the quarter was highlighted by a substantial increase in our cash position to $35.4 million as we successfully closed a $12.4 million financing arrangement with a group of our existing investors and received an additional $9.2 million during Q2 from the exercise of warrants. Thanks to our team’s flexibility, we also achieved record revenues of $833,000, and we exited the quarter with a $1.5 million backlog, which indicates that our sales channel remained robust despite the complications caused by the coronavirus pandemic. Subsequent to the quarter’s end, we also strengthened our leadership team with the appointment of Marc Thomas as our CEO, whose expertise will be integral to the next phase of Wrap’s evolution.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
(0)
(0)Wrap Technologies Inc. (WRAP) Stock Research Links
Scroll down for more posts ▼