Wrap Technologies, Inc.

Good afternoon and welcome to the WRAP Technologies first quarter 2022 earnings conference call. My name is Paul Manley and I'm vice president of investor relations. Today we'll provide a report on our progress and performance during the first quarter and an update on our key priorities and strategy. On today's call, I'm excited to introduce our newly appointed CEO, TJ Kennedy, and our new president, Kevin Mullins. We are also joined by Jim Barnes, our chief financial officer. I'd like to take a moment now to remind you that certain statements made during the call today constitute forward-looking statements made to, pursuant within the meaning of the safe harbor provisions of the Private Securities and Litigation Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. These risks and uncertainties are described in our earnings press release and in our filings with the SEC. These forward-looking statements made today are as the date of this call, and we do not undertake any obligation to update the forward-looking statements. I will now turn the call over to you, TJ.

Thank you, Paul, and good afternoon, everyone. To start off, I'm incredibly excited to be here on my first earnings call as RAP CEO. I want to give some perspective as to why I decided to take the job. As you may know, I joined the board of directors in 2021. Since joining the board, I've been incredibly impressed by the company's mission driven culture and the mission critical business we are building. There is a unique opportunity to fill a white space in our addressable market that is growing significantly as demand for safer, more efficient restraint and de-escalation solutions increases throughout the world. As a former law enforcement officer who worked in the field, I can tell you that our key solutions, the BOLA RAP 150 and RAP Reality, have the potential to make significant positive changes in the landscape for modern policing, military, and in security. What's more is that we have built a team of incredibly talented individuals that are driven by our mission and have a diverse set of backgrounds that span engineering, product development, technology, sales and marketing, among others. As we look ahead, continuing to recruit top tier talent remains a major priority. That said, I want to take a moment to address our first quarter financial results, which our CFO Jim Barnes will discuss in further detail later in the call. Our team was able to build momentum with revenues growing year over year, despite significant supply chain headwinds. It is important to keep in mind that RAP was operating without permanent leadership for the majority of the first quarter. The appointments of myself as CEO and Kevin Mullins as president represent a critical milestone for RAP as we move into the next phase of the company's life cycle. The two of us have a shared vision for accelerating sales of the BOLA RAP 150 in the near term and diversifying RAP's suite of solutions, including RAP Reality and other services for global law enforcement over the long term. Over the next 90 days, Kevin and I will assess every facet of the business to take inventory of what is working well and what can be improved upon. We will be engaging our employees, our customers, and distributors throughout this process. Specifically, we want to look closely at our go-to-market strategies for the BOLA RAP 150 and RAP Reality. We want to devise a plan for doubling down on the BOLA RAP 150 as our key product and understand how we can drive sales growth both domestically and internationally. We want to assess how to expand brand awareness and demand for RAP Reality. We want to identify potential synergistic technologies and channel partnerships, and we want to explore ways to expand and maximize existing customer relationships, as well as generating new ones through an improved customer success function. At the end of these 90 days, we expect to develop and release a strategic roadmap that will ultimately support enhanced sales, increased innovation and diversification, and long-term value creation. I'd like to now give Kevin the opportunity to briefly introduce himself before Jim discusses our financial results for the quarter. Kevin?

Thank you, TJ, and good afternoon, everyone. I've spent my career taking public safety technology companies from concept to growth to profitability, and I'm incredibly excited to be working with the team at RAP to see what we can accomplish together. I'm already confident in the future of RAP, given the early success of the BOLA RAP 150 And I am incredibly excited to lead RAP into the next phase of commercializing and distributing our products. Now that the company has a permanent leadership team and is committed to running and growing the business over the long term, we expect to capture a significant market share while delivering enhanced value to all stakeholders in the quarters and the years to come. With that, I will turn it over to Jim to discuss our financial results.