Wrap Technologies Inc (WRAP)

[Hulk Hogan is God]

Step 1: WRAP sells some ‘convertible in six months for shares’ shares at $1.45 each to insider investor.

Step 2: Six months pass.

Step 3: Investor converts at current pps. Anything over $1.45 is a profit, if the stock tanks and goes belly up they take a loss.

Sure, one could argue that they wouldn’t convert at a price so near their investment level.

BUT. What has happened since they made that investment?



They haven’t reported earnings from Q4 2023 or 2023 annuals. It’s frickin JULY.

They received Nasdaq delisting notification.

Their auditor resigned. More resignations followed.

LAPD and Seattle both said it wasn’t effective and dropped it.

It was featured on liberal hero John Oliver’s show that reaches millions as crap.



Now, if I’m that investor, do I think this thing is working? Or am I thinking about squeezing as much as I can before they either reveal the horror show behind their finances or go to the pink sheets?

Dude, you dreaming if you think something ain’t shady in Shadytown! Iron Shiek has you in a Camel Clutch, better tap out brother.