Wrap Technologies Streamlines Leadership, Organizational Structures

(RTTNews) - Wrap Technologies, Inc. (WRAP), Friday announced significant changes in leadership and organizational structure to enhance focus, agility and speed in decision-making.

The provider of advanced public safety solutions stated that it will focus on customer success, product delivery, and implementation of de-escalation strategies.

The company expects operational expenses to decline by 72 percent, to $700,000 per month by the end of 2024, from $2.5 million per month in 2022.

Wrap also stated about its key product BolaWrap, which is designed to be immediately accessible on an officer's belt or in their vehicle, helping them immediately in critical situations.

Currently, Wrap's stock is trading at $1.71, down 0.29 percent on the Nasdaq.