Financial Data and Key Metrics Changes - Cash increased to $6.2 million from $3.6 million in Q1 2024 [3] - Margins improved over 21 points, rising from 56.6% in Q1 2024 to 77.8% in Q1 2025 [3] - Cost of revenues decreased by 73.4%, from $640,000 to $170,000 [3] - Operating loss improved by 5.2%, from negative $4.1 million in Q1 2024 to negative $3.9 million in Q1 2025 [3] - Q1 2025 revenue was $765,000, with net income of $109,000 compared to $117,000 in Q1 2024 [3] Business Line Data and Key Metrics Changes - The company is in the early stages of building its business and focusing on the use of force discussions [4][5] - The BolaWrap device is being used 2 to 5 times more than other tools on officers' belts [7][13] - The company is tracking over a dozen departments that are successfully using the BolaWrap [7][13] Market Data and Key Metrics Changes - The company is seeing a shift in policies regarding the use of force, which is leading to behavior changes in law enforcement [6][12] - The company is building partnerships with community advocacy groups and political leaders to enhance product awareness and sales [30][32] Company Strategy and Development Direction - The company aims to support the BolaWrap programs and expand its sales and marketing infrastructure [17][23] - There is a focus on leveraging data to drive sales and validate the product's effectiveness [19][21] - The company is shifting its sales efforts towards political leadership and broader conversations about use of force [30][32] Management's Comments on Operating Environment and Future Outlook - Management believes that the data collected will drive future sales and product adoption [19][20] - The company is optimistic about international opportunities, particularly in Chile, and is seeing interest from other countries [56][58] - Management acknowledges past challenges but is confident that recent data will change perceptions and lead to renewed interest from major cities [65][67] Other Important Information - The company has completed its move to a new facility in Virginia and is positioned to meet demand with existing inventory [52][53] - The company is engaging with community leaders and advocacy groups to enhance outreach efforts [46][47] - The company has brought on experienced personnel from law enforcement and government to strengthen its credibility and market presence [70][72] Q&A Session Summary Question: What is Wrap doing to drive more sales and increased product awareness? - The company has sold over $30 million of the product based on potential, and now has data to support its effectiveness [19][20] Question: Are there any plans to shift sales efforts towards political leadership rather than police directly? - Yes, the company is engaging in broader conversations about use of force and working with political leaders [30][32] Question: Does Wrap engage with community leaders as part of its outreach plan? - The company acknowledges past efforts and plans to increase engagement with community leaders and advocacy groups [46][47] Question: How will the end of Governor Youngkin's term and a potential new candidate impact Wrap's outlook in Virginia? - The impact should be negligible as the issues addressed are bipartisan and the company is building lasting connections [49][51] Question: Can you provide an update on international orders, specifically Chile and Italy? - Chile is moving forward with a significant rollout, and the company is optimistic about international opportunities [56][58] Question: What happened with the LAPD testing of the BolaWrap a few years back? - Past pilot programs did not go well, but recent data has changed the conversation and management is optimistic about re-engagement [63][65] Question: With all of these new hires, is Wrap building something similar to Kroll Associates? - The company is leveraging experienced personnel to enhance its credibility and support its BolaWrap program, but with a different revenue model [70][72]