Wrap Technologies appoints Braden Frame as chief commercial officer

MIAMI - Wrap Technologies, Inc. (NASDAQ:WRAP), a $121 million market cap company whose stock has surged over 54% in the past year according to InvestingPro data, has appointed Braden Frame as Chief Commercial Officer, the company announced Thursday.

Frame, who brings two decades of experience in public safety and technology, will oversee marketing, product strategy, pricing, training, and market execution as the company expands beyond its flagship BolaWrap device to include subscription-based services and counter-drone solutions.

The appointment comes as Wrap Technologies aims to transition toward recurring revenue models serving law enforcement, private security, and the U.S. Department of Defense.

Frame’s background includes frontline service as a Texas firefighter and paramedic before transitioning to corporate leadership roles following a career-ending line-of-duty injury. He has maintained his status as a nationally registered paramedic and certified EMS instructor while also serving as an adjunct professor.

"Wrap is expanding its mission from delivering a leading non-lethal, pre-escalation tool to providing an integrated suite of solutions," Frame said in the press release statement.

Scot Cohen, Wrap’s Chief Executive Officer, stated that Frame’s "vision on pre-escalation, coupled with his experience in public safety, corporate leadership, and strategic communications" positions him to advance the company’s transition to subscription revenue models and expansion into counter-unmanned aircraft system technology.

Wrap Technologies currently provides its BolaWrap device to over 1,000 agencies across the U.S. and in 60 countries. With a gross profit margin of 53.4% and current revenue of $3.24 million, the company’s product portfolio includes Wrap Reality VR training simulator and WrapVision body-worn camera systems. For detailed financial analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.

The company is developing counter-drone technologies, including its patent-pending 1KC Kinetic Anti-Drone Cassette, as it seeks to address challenges in both public safety and defense sectors. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading near its fair value, with eight additional ProTips available to subscribers regarding the company’s financial health and market position.

In other recent news, Wrap Technologies has announced the creation of a new Series B Convertible Preferred Stock through a private placement agreement with accredited investors. The agreement involves selling 4,500 shares of this newly designated stock, which can be converted into up to 3,000,000 shares of common stock at a conversion price of $1.50 per share, pending stockholder approval. Additionally, the agreement includes warrants to purchase up to 3,000,000 shares of common stock, also at an initial exercise price of $1.50 per share. Wrap Technologies has also submitted its counter-unmanned aerial system technology, Project Merlin-1KC, for the U.S. Army’s xTechCounter Strike competition. The company is expanding its product line with the introduction of the 1KC: Kinetic Anti-Drone Cassette, designed to disable drones in flight using tether systems. In a strategic move, Wrap Technologies has partnered with STORM Training Group to integrate defensive tactics training with its BolaWrap device deployment. Furthermore, Joseph Cameron has been appointed as Chief Revenue Officer, bringing extensive experience in law enforcement and public safety technology to the role.

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