Wrap Technologies, Inc..
WRAP.US | Manufacture of weapons and ammunition
Wrap Technologies, Inc. is a public safety technology company focused on developing non-lethal solutions for law enforcement and security personnel. Their primary product is the BolaWrap, a hand-held remote restraint device that discharges a Kevlar cord to entangle a subject at a distance, aiming to...Show More
Better Health for All
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No evidence available to assess Wrap Technologies, Inc. on Better Health for All.
Fair Money & Economic Opportunity
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Wrap Technologies, Inc. is a public safety technology company that develops and sells non-lethal restraint devices and related training to law enforcement agencies and corrections departments.
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The company's core business activities do not involve lending, insuring, moving, or storing money, nor do they offer consumer financial products or services.
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Therefore, all Key Performance Indicators (KPIs) under the 'Fair Money & Economic Opportunity' value, which are designed to assess financial institutions and their impact on financial inclusion and economic opportunity for marginalized populations, are not applicable to Wrap Technologies, Inc. No evidence was found in the provided articles that directly addresses the specific financial services or consumer-facing financial activities relevant to these KPIs.
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Fair Pay & Worker Respect
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No evidence available to assess Wrap Technologies, Inc. on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
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No specific, concrete data points were found in the provided articles regarding WRAP.US's fair trade certifications, supplier audit frequency, forced or child labor incidents, supply chain traceability, remediation speed for violations, ethical sourcing clause coverage in contracts, share of spend on high-risk materials, or procurement budget directed to diverse suppliers. All articles explicitly state that such data is not available or not mentioned for WRAP.US.
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Honest & Fair Business
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Wrap Technologies has a formal Code of Business Conduct and Ethics, adopted in November 2018 and amended in February 2020, which includes a whistle-blower policy.
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This policy applies to all employees, executive officers, and the Board of Directors, offering confidential reporting channels (including 24/7 access and email to the Audit Committee Chair) and protection against retaliation.
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Investigations are conducted by the Audit Committee or Board, with outside counsel involvement.
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The company also has an anti-corruption policy that prohibits bribes and kickbacks, limits gifts to $50, and requires compliance with laws including the Foreign Corrupt Practices Act (FCPA) and U.S. Export Control Act for employees outside the US.
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However, there is no evidence of training frequency or effectiveness metrics for this policy. The company has stated that no financial restatements are anticipated.
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Wrap Technologies received a notification from Nasdaq for failing to timely file its 2023 Annual Report on Form 10-K and 2024 Q1 10-Q, but submitted a comprehensive compliance plan to Nasdaq by June 17, 2024.
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Kind to Animals
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Wrap Technologies, Inc. develops non-lethal public safety technology, primarily the BolaWrap remote restraint device, which uses a synthetic Kevlar cord.
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The company's business model does not involve animal-derived products, animal agriculture, or animal testing. The BolaWrap device is explicitly stated as not intended for use on animals, though it may be deployed in exceptional circumstances if an animal poses an imminent threat to human safety.
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There is no evidence of the company engaging in activities that would require cruelty-free certifications, humane certifications for animal operations, or sourcing of animal products. Similarly, there is no information regarding R&D investment in animal-free alternatives, participation in animal-free R&D collaborations, or engagement in animal welfare policy, as these are not relevant to its core operations.
No War, No Weapons
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No evidence available to assess Wrap Technologies, Inc. on No War, No Weapons.
Planet-Friendly Business
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WRAP.US has committed to reducing packaging waste, with bulk orders in 2023 shipping in packaging that uses at least 60% less cardboard.
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The company designs products with the entire product lifecycle in mind, considering hazardous material inputs, safe end-of-life disposal, and recycling.
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They ensure 100% of hazardous waste from manufacturing and assembly is appropriately collected through Clean Harbors, Inc.
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WRAP also donates recycled products to Arizona State University’s foundry to be recycled as aluminum material for their art program and works with suppliers to incorporate best practices for recycling raw materials such as plastics, metals, batteries, and e-waste.
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The BolaWrap 150 device is supported for at least a 5-year period, and its battery lasts 10 times longer than the previous generation.
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A trade-in program for BolaWrap 100 devices for BolaWrap 150 devices is in place to ensure proper disposal and recycling.
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The company supports a flexible workforce to reduce the carbon impact of commuting, operational square footage, and energy consumption at company facilities.
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Respect for Cultures & Communities
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No specific, concrete data points were found in the provided articles for any of the KPIs related to Respect for Cultures & Communities. The articles primarily focus on financial performance, product development, and partnerships with law enforcement agencies, without detailing the company's engagement with indigenous or local community groups, cultural impact assessments, or community-specific grievance mechanisms.
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Safe & Smart Tech
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The company's privacy policy outlines user rights to access, correct, delete, and restrict data, and to opt-out of sales or sharing, consistent with CCPA.
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Data retention is based on the duration of the relationship, legal obligations, and dispute resolution.
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The privacy policy also states compliance with CCPA and GDPR.
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Zero Waste & Sustainable Products
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No specific, quantitative evidence was found in the provided articles regarding Wrap Technologies, Inc.'s (WRAP.US) performance on zero waste and sustainable product initiatives. The articles discuss general sustainable manufacturing alternatives, boat wraps, car wraps, or the activities of an unrelated NGO named WRAP, none of which are explicitly linked to WRAP.US's operations or products like the BolaWrap.