0001641172-25-024162 | 10-Q | XBRL Viewer

LEASES (Tables)

6 Months Ended

Jun. 30, 2025

Operating lease obligations recorded on the balance sheet at June 30, 2025 are:

SCHEDULE OF OPERATING LEASE OBLIGATIONS


Operating lease liability- short term	$	218
Operating lease liability - long term		1,826
Total Operating Lease Liability	$	2,044

SCHEDULE OF OPERATING LEASE, LIABILITY, TO BE PAID, MATURITY

Future lease payments included in the measurement of lease liabilities on the balance sheet at June 30, 2025 for future periods are as follows:


2025 (6 months)	$	258
2026		507
2027		522
2028		538
2029		554
Thereafter		717
Total future minimum lease payments	$	3,096
Less imputed interest		(1,052	)
Total	$	2,044

REVENUE AND PRODUCT COSTS (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Extended Warranties And Services VR And Training [Member]
Disaggregation of Revenue [Line Items]
Contract with customer liability	$ 325	$ 505

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 91
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 91
-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (e)
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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+ Details

FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Investments, All Other Investments [Abstract]

SCHEDULE OF SHORT TERM INVESTMENTS

The following table shows the Company’s short-term investments by significant investment category as of June 30, 2025, and December 31, 2024.

SCHEDULE OF SHORT TERM INVESTMENTS

	As of June 30, 2025
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	3,134	$	-	$	-	$	3,134
Total Financial Assets	$	3,134	$	-	$	-	$	3,134

	As of December 31, 2024
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	2,945		-		-	$	2,945
Total Financial Assets	$	2,945	$	-	$	-	$	2,945

SCHEDULE OF FAIR OF WARRANT LIABILITIES

The following table presents the fair value in the beginning of the period, the changes in the fair value, and the fair value at the end of the period of warrant liabilities:

SCHEDULE OF FAIR OF WARRANT LIABILITIES

Level 3:	June 30, 2025			December 31, 2024
Fair value at inception for December 31, 2024 or the beginning of the period for June 30, 2025	$	(10,131	)	$	(19,703	)
Warrants issued with Private Placement		(5,186	)		-
Change in fair value of warrant liabilities		3,158			9,572
Reclassification of warrant liabilities to equity		12,159			-
Fair value as of period end	$	-		$	(10,131	)

SCHEDULE OF BLACK SCHOLES OPTION PRICING MODEL OF WARRANT LIABILITIES

MONTE CARLO SIMULATION MODEL – PIPE WARRANTS

	As of June 30, 2025
Expected stock price volatility		86	%
Risk-free interest rate		3.73	%
Dividends yield		0	%
Term (years)		4.50
Strike Price	$	1.45
Stock Price	$	1.56
Fair Value Per Warrant Share	$	1.235

MONTE CARLO SIMULATION MODEL – 2025 WARRANTS

	As of June 30, 2025
Expected stock price volatility		89	%
Risk-free interest rate		3.77	%
Dividends yield		0	%
Term (years)		5.15
Strike Price	$	1.80
Stock Price	$	1.56
Fair Value Per Warrant Share	$	1.132

	As of December 31, 2024
Expected stock price volatility		88	%
Risk-free interest rate		4.25	%
Dividends yield		0	%
Weighted average expected life of warrants (years)		3.50
Weighted average exercise price	$	1.45

INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

SCHEDULE OF INVENTORY

Inventory is recorded at the lower of cost or net realizable value. The cost of substantially all the Company’s inventory is determined by the FIFO cost method. Inventories consisted of the following:

SCHEDULE OF INVENTORY

	June 30, 2025			December 31, 2024
Finished goods	$	4,337		$	4,387
Raw materials		2,234			2,263
Reserve for Obsolescence		(667	)		(480	)
Inventories - net	$	5,904		$	6,170

ORGANIZATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT DEVELOPMENTS (Details Narrative)	6 Months Ended
	Jun. 30, 2025 Integer $ / shares shares	Jun. 30, 2024 shares	Dec. 31, 2024 $ / shares
Property, Plant and Equipment [Line Items]
Common stock, par value \| $ / shares	$ 0.0001		$ 0.0001
Number of wholly-owned subsidiaries \| Integer	3
Antidilutive securities excluded from computation of earnings per share, amount \| shares	2,413,595	4,903,951
Technology-Based Intangible Assets [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life	6 years
Customer Relationships [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life	3 years
Customer Relationships [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life	7 years
Trademarks and Trade Names [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life	8 years

ORGANIZATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT DEVELOPMENTS

6 Months Ended

Jun. 30, 2025

Accounting Policies [Abstract]

ORGANIZATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT DEVELOPMENTS

1. ORGANIZATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT DEVELOPMENTS

Organization and Business Description

Wrap Technologies, Inc., a Delaware corporation (the “Company”, “we”, “us”, and “our”), is a publicly traded company with its common stock, par value $0.0001 per share (“Common Stock”), listed on the Nasdaq Capital Market (“Nasdaq”) under the trading symbol “WRAP.” The Company is a developer and supplier of public safety products and training services for law enforcement and security personnel. The Company’s primary product is the BolaWrap® remote restraint device. The principal markets for the Company’s proprietary products and services are in North and South America, Europe, Middle East and Asia.

Basis of Presentation

The Company’s unaudited interim condensed consolidated financial statements included herein have been prepared in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X and the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the accompanying financial statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the footnotes. The condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2024, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “Annual Report”), as filed with the SEC on March 31, 2025 and as amended on April 25, 2025. The accompanying condensed consolidated balance sheet as of June 30, 2025 has been derived from the audited consolidated balance sheet as of December 31, 2024, contained in the Annual Report. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.

Where necessary, the prior year’s information has been reclassified to conform to the current year’s presentation.

Principles of Consolidation

The Company has three wholly owned subsidiaries, Wrap Reality, Inc., that sells a virtual reality (“VR”) training system primarily targeting law enforcement agencies and Intrensic, LLC (“Intrensic”), specializing in Body Worn Camera and Digital Evidence Management solutions. The condensed consolidated financial statements include the accounts of these subsidiaries after elimination of intercompany transactions and accounts.

Segment and Related Information

The Company operates as a single segment. The Company’s chief operating decision maker is Scot Cohen, the Company’s Executive Chairman and Chief Executive Officer, who manages operations for purposes of allocating resources. Refer to Note 15. Major Customers and Related Information for further discussion.

Goodwill

Goodwill represents the difference, if any, between the aggregate consideration paid for an acquisition and the fair values of the underlying net assets and liabilities assumed from an acquired business. Goodwill is not amortized but instead is tested for impairment. The Company tests goodwill for impairment on an annual basis during the fourth quarter, or more frequently if conditions indicate that such impairment could exist. The Company evaluates qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying value and whether it is necessary to perform goodwill impairment process.

Definite-lived Intangible Assets

Definite-lived intangible assets represent certain trade names, patents, licenses, software, acquired technology and customer relationships. Definite-lived intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses, if any. Definite-lived intangible assets acquired through the business combination are measured at fair value at the acquisition date. The Company amortizes these acquired definite-lived intangibles assets with a finite life on a straight-line basis, over 6 years for technology; between 3 and 7 years for customer relationships; and 8 years for trademarks and trade names.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions (e.g., stock-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued expense, valuation of warrants, and recognition and measurement of contingencies) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenue and expense during the reporting period. Actual results could materially differ from those estimates.

Warrants

The Company accounts for warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own shares of Common Stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company accounts for the warrants issued in accordance with the guidance contained in ASC 815-40-15-7C, under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s condensed consolidated statement of operations.

On June 30, 2025, the Company entered into the Series A Warrant Amendment (as defined herein) and the 2025 Warrant Amendment (as defined herein). As a result, the Series A Warrants (as defined here) and the PIPE Warrants (as defined herein), each satisfy the requirements outlined in ASC 815-10-15-74(a)(1) and in ASC 815-10-15-74(a)(2). Under ASC 815-40-35-10, the amended instruments qualify for equity-classification on a prospective basis. The effective date of the relating reclassification from warrant liabilities to additional paid-in capital was June, 30, 2025. See Footnote 8: Warrants for additional detail.

Series A Preferred Stock

The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with ASC 480 and ASC 815 to determine if those instruments or embedded components of those instruments qualify as derivatives and are subject to bifurcation accounting. The Company determines that the economic characteristics and risks of the embedded derivative instrument are clearly and closely related to the economic characteristics and risks of the host contract. The convertible instruments are accounted for as a single hybrid instrument. Additionally, the convertible instruments do not have any redemption features that would preclude permanent equity classification in accordance with the guidance contained in ASC 480-10-S99.

The Company issued the Series A Warrants (as defined herein), which are classified as liabilities and measured at fair value on a recurring basis, and the Series A Convertible Preferred Stock (the “Series A Preferred Stock”) in one transaction. The issuance proceeds were allocated by using the with-and-without method. Under this method, the Company first allocated the issuance proceeds to the Series A Warrants based on their initial fair value measurement and then allocated the remaining proceeds to the Series A Preferred Stock. On June 30, 2025, the Company and Holders of the Series A Warrants (as defined herein) amended the Series A Warrants, which allowed the Company to account for the Series A Warrants as equity under ASC 480 and a reclassification was recorded from warrant liability to additional paid-in-capital.

Revenue Recognition

The Company recognizes revenue under ASC Topic 606 - Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of the promised goods or performance obligations for services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods or services.

The Company enters into contracts that include various combinations of products, accessories, software and services, each of which are generally distinct and are accounted for as separate performance obligations. Product sales include BolaWrap products and accessories. Managed services revenue represents the consulting services provided to customers of W1 Global, LLC (“W1”). Other revenue includes VR revenues, service, training and shipping revenues.

The timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally has an unconditional right to consideration when customers are invoiced, and a receivable is recorded. A contract asset is recognized when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized after invoicing. The Company recognizes an asset if there are incremental costs of obtaining a contract with a customer such as commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract. The Company may receive consideration, per terms of a contract, from customers prior to transferring goods to the customer. The Company records customer deposits as a contract liability. Additionally, the Company may receive payments, most typically for service and warranty contracts, at the onset of the contract and before the services have been completed. In such instances, a deferred revenue liability is recorded. The Company recognizes these contract liabilities as revenue after all revenue recognition criteria are met.

Estimated costs for the Company’s standard warranty, generally one-year, are charged to cost of products sold when revenue is recorded for the related product. Royalties are also charged to the cost of products sold.

Loss per Share

Basic loss per share (EPS) is computed by dividing net loss, less any dividends, accretion or decretion, redemption or induced conversion, if any, on the Company’s Series A Preferred Stock, by the weighted average number of shares outstanding during the reported period.

In computing diluted EPS, we adjust the numerator used in the basic EPS computation, subject to anti-dilution requirements, to add back the dividends (declared or cumulative undeclared) applicable to the Series A Preferred Stock. Such add-back would also include any adjustments to equity in the period to accrete the Series A Preferred Stock to its redemption price, or recorded upon a redemption or induced conversion, if any. We adjust the denominator used in the basic EPS computation, subject to anti-dilution requirements, to include the dilution from potential shares resulting from the issuance of the Series A Preferred Stock, restricted stock units, and stock options. Stock options and restricted stock units exercisable or issuable for a total of 2,413,595 shares and 4,903,951 shares of Common Stock were outstanding as of June 30, 2025 and 2024, respectively. These securities are not included in the computation of diluted net loss per common share for the periods presented as their inclusion would be antidilutive due to losses incurred by the Company.

Recently Issued Accounting Guidance Not Yet Effective

In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain costs and expenses, including employee compensation, and requires other improvements to disclosures. The amendments in this update are effective for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The update may be applied on a prospective or retrospective basis. The Company is evaluating the impact of ASU 2024-03 on the Company’s notes to the consolidated financial statements.

SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

11. SHARE-BASED COMPENSATION

On March 28, 2017, the Company adopted, and the Company’s stockholders approved, the Wrap Technologies, Inc. 2017 Equity Incentive Plan (the “2017 Plan”), which was adopted by the Board on November 12, 2024, subject to stockholder approval. Under the 2017 Plan as originally adopted, the Company initially reserved 2,000,000 shares of Common Stock for issuance as awards under the 2017 Plan. The 2017 Plan was amended by the First Amendment to the 2017 Plan to increase the total number of shares of Common Stock for issuance under the 2017 Plan to 4,100,000 shares, which was adopted by the Board on March 16, 2019, and by stockholders on May 23, 2019. The 2017 Plan was also amended by the Second Amendment to the 2017 Plan to increase the total number of shares of Common Stock for issuance under the 2017 Plan to 6,000,000 shares which was adopted by the Board on April 8, 2020, and by stockholders on June 5, 2020. The 2017 Plan was also amended by the Third Amendment to the 2017 Plan to increase the total number of shares of Common Stock for issuance under the 2017 Plan to 7,500,000 shares which was adopted by the Board on April 23, 2021, and by stockholders on June 22, 2021. The 2017 Plan was also amended by the Fourth Amendment to the 2017 Plan to increase the total number of shares of Common Stock for issuance under the 2017 Plan to 9,000,000 shares which was adopted by the Board on April 22, 2022, and by our stockholders on June 23, 2022.The 2017 Plan was amended by the Fifth Amendment to the 2017 Plan to increase the total number of shares of Common Stock for issuance under the 2017 Plan to 16,500,000 shares which was adopted by the Board on November 12, 2024, and by our stockholders on December 23, 2024.

As of June 30, 2025, there were 4,004,187 shares of Common Stock remaining available for grant under the 2017 Plan.

Stock Options

The following table summarizes stock option activity for the six months ended June 30, 2025:

SCHEDULE OF STOCK OPTION ACTIVITY

				Weighted Average
	Options on Common Shares			Exercise Price		Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding January 1, 2025		3,944,284		$	2.12		8.30	$	1,486
Granted		3,453,927			1.88		-		-
Exercised		-			-		-		-
Forfeited, cancelled, expired		(536,500	)		2.86		-		-
Outstanding June 30, 2025		6,861,711		$	1.94		8.90	$	541
Exercisable June 30, 2025		1,419,164		$	2.58		7.48	$	142

As of June 30, 2025, there were 5,571,545 service-based stock options outstanding, and 1,290,166 performance-based stock options outstanding which were granted in October 2023 to the Company’s current Chief Executive Officer, subject to vesting based on future market capitalization targets.

The Company uses the Black-Scholes option pricing model to determine the fair value of the service-based options that have been granted. The following table summarizes the assumptions used to compute the fair value of options granted to employees and non-employees:

	For the Six Months Ended June 30,
	2025			2024
Expected stock price volatility		76	%		76	%
Risk-free interest rate		4.06	%		3.97	%
Expected dividend yield		0	%		0	%
Expected life of options		6.00			6.00
Weighted-average fair value of options granted	$	1.05		$	2.90

Estimated volatility is a measure of the amount by which the Company’s stock price is expected to fluctuate each year during the expected life of awards. The Company’s estimated volatility was based on an average of the historical volatility of peer entities whose stock prices were publicly available. The Company’s calculation of estimated volatility is based on the historical stock prices of these peer entities over a period equal to the expected life of the awards. The Company uses the historical volatility of peer entities due to the lack of sufficient historical data of its stock price. The Company records forfeitures as they are incurred.

The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the options. The dividend yield of zero 0 is based on the fact that the Company has never paid cash dividends and has no present intention of paying cash dividends. The Company calculates the expected life of the options using the Simplified Method for the employee stock options as the Company does not have sufficient historical exercise data.

Stock option expense was $477 and ($33) for the three months ended June 30, 2025 and 2024, respectively. Stock option expense was $864 and $434 for the six months ended June 30, 2025 and 2024, respectively.

Restricted Stock Units

The Plan provides for the grant of restricted stock units (“RSUs”). RSUs are settled in shares of the Company’s Common Stock as the RSUs vest. The following table summarizes RSU activity for the six months ended June 30, 2025:

	Service-Based RSU’s			Weighted Average Grant Date Fair Value		Weighted Average Vesting Period (Years)
Unvested at January 1, 2025		988,102		$	2.25		3.67
Granted - service based		663,931			1.97		-
Vested		(657,602	)		1.97		-
Forfeited and cancelled		-			-		-
Unvested at June 30, 2025		994,431		$	2.25		2.56

The Company used the Monte Carlo Simulation Model to value at the grant date the aggregate of 632,911 market condition performance RSUs granted in January 2024 to the Company’s Chief Executive Officer. The assumptions used in the Monte Carlo Simulation were stock price on the date of grant equal to $3.40, a contract term of 10 years, expected volatility of 78% and risk-free interest rate of 4.10%. Vesting is based on sustained market capitalization of $1 billion, and the derived service period is 4.3 years.

RSU expense was $293 and $275 for the three months ended June 30, 2025 and 2024, respectively. RSU expense was $1,571 and $484 for the six months ended June 30, 2025 and 2024, respectively

Share-Based Compensation Expense

The Company recorded share-based compensation for options and RSUs in its statements of operations for the relevant periods as follows:

	2025		2024		2025		2024
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Selling, general and administrative	$	755	$	208	$	2,358	$	856
Research and development		15		34		77		62
Total share-based expense	$	770	$	242	$	2,435	$	918

As of June 30, 2025, total estimated compensation cost of stock options granted and outstanding but not yet vested was $5,591 which is expected to be recognized over the weighted average period of 3.03 years.

As of June 30, 2025, total estimated compensation cost of RSUs granted and outstanding but not yet vested was $1,368, which is expected to be recognized over the weighted average period of 2.56 years.

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

6 Months Ended

Jun. 30, 2025

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

7. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accrued liabilities consist of the following:

SCHEDULE OF ACCRUED LIABILITIES

	June 30, 2025		December 31, 2024
Patent and legal costs	$	60	$	60
Accrued compensation		213		121
Warranty costs		75		83
Royalty		81		81
Contract settlement		-		300
Accrued purchases		24		584
Accrued lease payable		166		-
Taxes and other		253		174
Total	$	872	$	1,403

Changes in our estimated product warranty costs were as follows:

SCHEDULE OF PRODUCT WARRANTY LIABILITY

	Six Months Ended June 30,
	2025			2024
Balance, beginning of period	$	83		$	72
Warranty settlements		(10	)		(34	)
Warranty provision		2			17
Balance, end of period	$	75		$	55

LEASES

6 Months Ended

Jun. 30, 2025

Leases

LEASES

9. LEASES

The Company determines if an arrangement is a lease at inception. The guidance in FASB ASC Topic 842, Leases defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating lease right of use (“ROU”) assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. The Company’s leases do not provide an implicit rate. Due to a lack of financing history or ability, the Company uses an estimate of low-grade debt rate published by the Federal Reserve Bank as its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The ROU asset includes any lease payments made and excludes lease incentives and initial direct costs incurred.

For leases beginning on or after January 1, 2019, lease components are accounted for separately from non-lease components for all asset classes. On January 21, 2023, the Company’s lease was amended to extend the expiration date to July 31, 2025. Upon execution of the amendment, which was deemed a lease modification, the Company reassessed the lease liability using the discount rate determined at the modification date and recorded an additional ROU asset for the same amount. The Company’s lease contains renewal provisions and escalating rental clauses and generally requires the Company to pay utilities, insurance, taxes and other operating expenses. The renewal provisions of the existing lease agreement were not included in the determination of the operating lease liabilities and the ROU assets. The Company also reassessed the lease classification and concluded that the lease continues to be an operating lease.

Amortization expense was $84 and $151 for the three and six months ended June 30, 2025, respectively, and $72 and $143 for the three and six months ended June 30, 2024, respectively. Operating lease expense for capitalized operating leases included in operating activities was $156 and $313 for the three and six months ended June 30, 2025, respectively, and $166 and $415 for the three months and six months ended June 30, 2024.

Operating lease obligations recorded on the balance sheet at June 30, 2025 are:

SCHEDULE OF OPERATING LEASE OBLIGATIONS


Operating lease liability- short term	$	218
Operating lease liability - long term		1,826
Total Operating Lease Liability	$	2,044

Future lease payments included in the measurement of lease liabilities on the balance sheet at June 30, 2025 for future periods are as follows:


2025 (6 months)	$	258
2026		507
2027		522
2028		538
2029		554
Thereafter		717
Total future minimum lease payments	$	3,096
Less imputed interest		(1,052	)
Total	$	2,044

The weighted average remaining lease term is 5.73 years, and the weighted average discount rate is 15.00%.

Certain leases contain provisions for payment of real estate taxes, insurance and maintenance costs by the Company. These expenses are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. The Company had $17 and $31 variable lease expenses for the three and six months ended June 30, 2025, respectively, and $14 and $24 for the three and six months ended June 30, 2024, respectively.

The Company had $0 and $0 short-term lease expense for the three and six months ended June 30, 2025, respectively, and $4 and $15 for the three and six months ended June 30, 2024, respectively. The Company does not have any finance leases.

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2025

Payables and Accruals [Abstract]

SCHEDULE OF ACCRUED LIABILITIES

Accrued liabilities consist of the following:

SCHEDULE OF ACCRUED LIABILITIES

	June 30, 2025		December 31, 2024
Patent and legal costs	$	60	$	60
Accrued compensation		213		121
Warranty costs		75		83
Royalty		81		81
Contract settlement		-		300
Accrued purchases		24		584
Accrued lease payable		166		-
Taxes and other		253		174
Total	$	872	$	1,403

SCHEDULE OF PRODUCT WARRANTY LIABILITY

Changes in our estimated product warranty costs were as follows:

SCHEDULE OF PRODUCT WARRANTY LIABILITY

	Six Months Ended June 30,
	2025			2024
Balance, beginning of period	$	83		$	72
Warranty settlements		(10	)		(34	)
Warranty provision		2			17
Balance, end of period	$	75		$	55

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	1 Months Ended	6 Months Ended	12 Months Ended
	Jan. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service-Based Restricted Stock Units, Unvested Beginning		988,102
Weighted Average Grant Date Fair Value, Unvested Beginning		$ 2.25
Weighted Average Vesting Period (Years), Unvested		2 years 6 months 21 days	3 years 8 months 1 day
Service-Based Restricted Stock Units, Granted	632,911	663,931
Weighted Average Grant Date Fair Value, Granted - service based		$ 1.97
Service-Based Restricted Stock Units, Vested		(657,602)
Weighted Average Grant Date Fair Value, Vested		$ 1.97
Service-Based Restricted Stock Units, Forfeited and Cancelled
Weighted Average Grant Date Fair Value, Forfeited and Cancelled
Service-Based Restricted Stock Units, Unvested Ended		994,431	988,102
Weighted Average Grant Date Fair Value, Unvested Ended		$ 2.25	$ 2.25

SCHEDULE OF OPERATING LEASE, LIABILITY, TO BE PAID, MATURITY (Details) $ in Thousands	Jun. 30, 2025 USD ($)
Leases
2025 (6 months)	$ 258
2026	507
2027	522
2028	538
2029	554
Thereafter	717
Total future minimum lease payments	3,096
Less imputed interest	(1,052)
Total	$ 2,044

SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF STOCK OPTION ACTIVITY

The following table summarizes stock option activity for the six months ended June 30, 2025:

SCHEDULE OF STOCK OPTION ACTIVITY

				Weighted Average
	Options on Common Shares			Exercise Price		Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding January 1, 2025		3,944,284		$	2.12		8.30	$	1,486
Granted		3,453,927			1.88		-		-
Exercised		-			-		-		-
Forfeited, cancelled, expired		(536,500	)		2.86		-		-
Outstanding June 30, 2025		6,861,711		$	1.94		8.90	$	541
Exercisable June 30, 2025		1,419,164		$	2.58		7.48	$	142

SCHEDULE OF STOCK OPTION ACTIVITY, FAIR VALUE OF ASSUMPTIONS

	For the Six Months Ended June 30,
	2025			2024
Expected stock price volatility		76	%		76	%
Risk-free interest rate		4.06	%		3.97	%
Expected dividend yield		0	%		0	%
Expected life of options		6.00			6.00
Weighted-average fair value of options granted	$	1.05		$	2.90

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY

	Service-Based RSU’s			Weighted Average Grant Date Fair Value		Weighted Average Vesting Period (Years)
Unvested at January 1, 2025		988,102		$	2.25		3.67
Granted - service based		663,931			1.97		-
Vested		(657,602	)		1.97		-
Forfeited and cancelled		-			-		-
Unvested at June 30, 2025		994,431		$	2.25		2.56

SCHEDULE OF SHARE-BASED COMPENSATION FOR OPTIONS AND RESTRICTED STOCK UNITS

The Company recorded share-based compensation for options and RSUs in its statements of operations for the relevant periods as follows:

	2025		2024		2025		2024
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Selling, general and administrative	$	755	$	208	$	2,358	$	856
Research and development		15		34		77		62
Total share-based expense	$	770	$	242	$	2,435	$	918

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Preferred Stock [Member] Convertible Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2023	$ 4		$ 101,147	$ (97,988)	$ 3,163
Balance, shares at Dec. 31, 2023	43,855,503	9,898
Share-based compensation expense			918		918
Dividends on convertible preferred stock			140	(700)	(560)
Dividends on convertible preferred stock, shares	128,233
Common Stock issued upon vesting of restricted stock units
Common Stock issued upon vesting of restricted stock units, shares	186,112
Net loss for the period				(268)	(268)
Common Stock issued upon convertible preferred stock exercising conversion rights
Common Stock issued upon convertible preferred stock exercising conversion rights, shares	1,391,183	(1,691)
Common Stock issued upon exercise of stock options			588		588
Common Stock issued upon exercise of stock options, shares	232,081
Balance at Jun. 30, 2024	$ 4		102,793	(98,956)	3,841
Balance, shares at Jun. 30, 2024	45,793,112	8,207
Balance at Mar. 31, 2024	$ 4		102,539	(98,060)	4,483
Balance, shares at Mar. 31, 2024	44,373,107	9,798
Share-based compensation expense			243		243
Dividends on convertible preferred stock			11	(511)	(500)
Common Stock issued upon vesting of restricted stock units
Common Stock issued upon vesting of restricted stock units, shares	103,306
Net loss for the period				(385)	(385)
Common Stock issued upon convertible preferred stock exercising conversion rights
Common Stock issued upon convertible preferred stock exercising conversion rights, shares	1,316,699	(1,591)
Balance at Jun. 30, 2024	$ 4		102,793	(98,956)	3,841
Balance, shares at Jun. 30, 2024	45,793,112	8,207
Balance at Dec. 31, 2024	$ 5		105,326	(105,081)	250
Balance, shares at Dec. 31, 2024	47,101,631	8,207
Share-based compensation expense			2,435		2,435
Dividends on convertible preferred stock			328	(328)
Dividends on convertible preferred stock, shares	252,636
Common Stock issued upon vesting of restricted stock units
Common Stock issued upon vesting of restricted stock units, shares	157,602
Common Stock issued with Private Placement			543		543
Common Stock issued with Private Placement, shares	3,216,666
Reclassification of warrant liability due to warrant amendment			12,151		12,151
Net loss for the period				(3,618)	$ (3,618)
Common Stock issued upon exercise of stock options, shares
Balance at Jun. 30, 2025	$ 5		120,783	(109,027)	$ 11,761
Balance, shares at Jun. 30, 2025	50,728,535	8,207
Balance at Mar. 31, 2025	$ 5		107,698	(105,136)	2,567
Balance, shares at Mar. 31, 2025	50,494,701	8,207
Share-based compensation expense			770		770
Dividends on convertible preferred stock			164	(164)
Dividends on convertible preferred stock, shares	139,431
Common Stock issued upon vesting of restricted stock units
Common Stock issued upon vesting of restricted stock units, shares	94,403
Common Stock issued with Private Placement
Common Stock issued with Private Placement, shares
Reclassification of warrant liability due to warrant amendment			12,151		12,151
Net loss for the period				(3,727)	(3,727)
Balance at Jun. 30, 2025	$ 5		$ 120,783	$ (109,027)	$ 11,761
Balance, shares at Jun. 30, 2025	50,728,535	8,207

WARRANTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended	6 Months Ended
	Feb. 24, 2025	Jul. 03, 2023	Jun. 29, 2023	Jun. 30, 2025	Jun. 30, 2025	Dec. 31, 2024	Oct. 14, 2024
Preferred stock, par or stated value per share				$ 0.0001	$ 0.0001	$ 0.0001
Common Stock [Member]
Stock issued during period, shares, new issues					3,216,666
PIPE Warrants [Member] \| Securities Purchase Agreement [Member]
Warrants to purchase common stock, shares	3,216,666
Exercise price	$ 1.80
Proceeds from issuance of warrants	$ 5,790
Proceeds from issuance of public offering	$ 5,185
Warrants Issued In Registered Direct Offering [Member]
Warrants to purchase common stock, shares			6,896,553
Exercise price			$ 1.45
Warrants and rights outstanding, term			5 years
Registered Direct Offering [Member]
Proceeds from issuance or sale of equity		$ 10,000
Proceeds from issuance of warrants		$ 7,717
Private Placement [Member] \| Common Stock [Member] \| Securities Purchase Agreement [Member]
Private placement, number of shares	3,216,666
Series A Preferred Stock [Member]
Preferred stock, convertible, conversion price		$ 1.45					$ 1.414
Series A Preferred Stock [Member] \| Registered Direct Offering [Member]
Stock issued during period, shares, new issues			10,000
Preferred stock, par or stated value per share			$ 0.0001
Preferred stock, stated value per share			$ 1,000
Preferred stock, convertible, shares issuable			6,896,553
Preferred stock, convertible, conversion price			$ 1.45

WARRANTS

6 Months Ended

Jun. 30, 2025

Disclosure Warrants Abstract

WARRANTS

8. WARRANTS

On June 29, 2023, the Company entered into a Securities Purchase Agreement (the “Series A Purchase Agreement”) with certain directors of the Company and certain accredited and institutional investors (collectively, the “Series A Investors”), pursuant to which it agreed to sell to the Series A Investors in a registered direct offering (the “Series A Offering”): (i) an aggregate of 10,000 shares of the Company’s newly-designated Series A Convertible Preferred Stock, with par value $0.0001 per share and a stated value of $1,000 per share (the “Series A Preferred Stock”), initially convertible into up to 6,896,553 shares of Common Stock, at an initial conversion price of $1.45 per share (the “Conversion Price”), and (ii) warrants to acquire up to an aggregate of 6,896,553 shares of Common Stock (the “Series A Warrants”).

Each Series A Warrant has an exercise price of $1.45 per share, became exercisable after the date that was six months from the date of issuance and will expire 5 years following the date of issuance. The exercise price is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment, on a “full ratchet” basis, in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below the then-applicable exercise price (subject to certain exceptions). The closing of the Series A Offering occurred on July 3, 2023. The aggregate gross proceeds from the Series A Offering were $10,000, of which $7,717 was allocated to the Series A Warrants.

On February 24, 2025, the Company entered into a securities purchase agreement (the “PIPE Purchase Agreement”) with certain accredited investors (collectively, the “PIPE Purchasers”) for the issuance and sale in a private placement (the “Private Placement”) of an aggregate of 3,216,666 shares (the “Common Shares”) of Common Stock and accompanying warrants (“PIPE Warrants”) to purchase up to 3,216,666 shares of Common Stock, with an exercise price of $1.80 per share. The purchase price for one Common Share and accompanying PIPE Warrant was $1.80. The gross proceeds to the Company were $5,790 before estimated offering expenses payable by the Company, of which $5,185 was allocated to the PIPE Warrants.

On June 30, 2025, the Company entered into a warrant amendment (the “Series A Warrant Amendment”) with the Required Holders (as defined in the Series A Purchase Agreement), pursuant to which, the Required Holders agreed to amend the terms of the Series A Warrants to make certain adjustments to the definition of “Black Scholes Value” in each of the Series A Warrants, as described in the Series A Warrant Amendment, such that the underlying price per share as used in such calculation equals the sum of the price per share being offered in cash in the applicable Fundamental Transaction (as defined in the Series A Warrants), if any, plus the value of the non-cash consideration being offered in the applicable Fundamental Transaction, if any. As consideration for entering into the Series A Warrant Amendment, the Company and the Required Holders agreed to amend the term of the Series A Warrants to be six and one-half years from the date of issuance.

Additionally, on June 30, 2025, the Company entered into a warrant amendment (the “2025 Warrant Amendment”) with certain of the PIPE Purchasers, pursuant to which, such PIPE Purchasers agreed to amend the terms of their respective PIPE Warrants to make certain adjustments to the definition of “Black Scholes Value,” as described in the 2025 Warrant Amendment, such that the underlying price per share as used in such calculation equals the sum of the price per share being offered in cash in the applicable Fundamental Transaction (as defined in the PIPE Warrants), if any, plus the value of the non-cash consideration being offered in the applicable Fundamental Transaction, if any. As consideration for entering into the 2025 Warrant Amendment, the Company and the applicable PIPE Purchasers agreed to amend the term of their respective 2025 Warrants to be five and one-half years from the date of issuance.

Under ASC 815-40-35-10, upon effective amendment on June 30, 2025, each of the Series A Warrants and PIPE Warrants qualify for equity-classification. Immediately before the equity reclassification, such warrants were each revalued at fair value with the resulting gain or loss being recorded in the Statement of Operations. After fair value remeasurement, the reclassification from warrant liabilities to additional paid-in capital was completed. See Footnote 3: Financial Instruments for details of the fair value measurement and impact on the Statement of Operations.

MAJOR CUSTOMERS AND RELATED INFORMATION

6 Months Ended

Jun. 30, 2025

Risks and Uncertainties [Abstract]

MAJOR CUSTOMERS AND RELATED INFORMATION

15. MAJOR CUSTOMERS AND RELATED INFORMATION

For the three months ended June 30, 2025, revenue from three customers accounted for approximately 32%, 23% and 10% of revenue, respectively, with no other single customer accounting for more than 10% of total revenue. For the three months ended June 30, 2024, revenue from one distributor accounted for approximately 39% of revenue, with no other single customer accounting for more than 10% of total revenue.

For the three months ended June 30, 2025, revenue from one customer accounted for approximately 16% of revenue, with no other single customer accounting for more than 10% of total revenue. For the six months ended June 30, 2024, revenue from two distributors accounted for approximately 33% and 20% of revenue, respectively, with no other single customer accounting for more than 10% of total revenue.

At June 30, 2025, accounts receivable from four customers accounted for 15%, 13%, 11%, 10%, respectively, of net accounts receivable with no other single customer accounting for more than 10% of the accounts receivable balance. At December 31, 2024, accounts receivable from two distributors accounted for 11% and 10%, respectively, of net accounts receivable, with no other single customer accounting for more than 10% of the accounts receivable balance.

The following table summarizes revenue by geographic region. Revenue is attributed to countries based on customer’s delivery location:

SCHEDULE OF DISAGGREGATION OF REVENUE

	2025		2024		2025		2024
	For the Three Months				For the Six Months
	Ended June 30,				Ended June 30,
	2025		2024		2025		2024
Americas	$	846	$	1,536	$	1,592	$	2,999
Europe, Middle East and Africa		166		37		186		43
Asia Pacific		-		-		-		7
Total revenues	$	1,012	$	1,573	$	1,778	$	3,049

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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+ Details

RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2025

RELATED PARTY TRANSACTIONS

14. RELATED PARTY TRANSACTIONS

Series A Preferred Stock

On June 29, 2023, the Company entered into the Series A Purchase Agreement with certain investors, including Scot Cohen, the Company’s Chief Executive Officer, and V4 Global LLC (“V4”). Mr. Cohen has voting and dispositive control with respect to the securities and is deemed to be the beneficial owner of the securities held by V4. Pursuant to the Series A Purchase Agreement, the Company issued Mr. Cohen and V4 an aggregate of 3,000 shares of Series A Preferred Stock and Series A Warrants to purchase up to an aggregate of 2,068,966 shares of Common Stock for aggregate gross proceeds of $3,000. For the six months ended June 30, 2025, Mr. Cohen earned dividends totaling $60 on his Series A Preferred Stock.

PIPE Financing

On February 24, 2025, the Company entered into the PIPE Purchase Agreement with certain accredited including: V4 Global, LLC (“V4”), an entity controlled by Mr. Cohen, the Company’s Chief Executive Officer; Continuum Ventures, LLC (“Continuum”), an entity controlled by Jared Novick, the Company’s President and Chief Operating Officer; and Savbo Investments LLC (“Savbo”), an entity controlled by Marc Savas, a member of the Company’s Board, pursuant to which, the Company issued and sold in a private placement an aggregate of 3,216,666 shares of Common Stock and PIPE Warrants with an exercise price of $1.80 per share, to purchase up to 3,216,666 shares of Common Stock (the “Private Placement”). Pursuant to the Private Placement, the Company sold to (i) V4 1,100,000 shares of Common Stock and PIPE Warrants to purchase up to an aggregate of 1,100,000 shares of Common Stock, for aggregate gross proceeds of $1,980, (ii) Continuum an aggregate of 275,000 shares of Common stock and PIPE Warrants to purchase up to an aggregate of 275,000 shares of Common Stock for aggregate gross proceeds of $495 and (iii) Savbo an aggregate of 50,000 shares of Common stock and PIPE Warrants to purchase up to an aggregate of 50,000 shares of Common Stock for aggregate gross proceeds of $90.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

SCHEDULE OF PRODUCT WARRANTY LIABILITY (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Payables and Accruals [Abstract]
Balance, beginning of period	$ 83	$ 72
Warranty settlements	(10)	(34)
Warranty provision	2	17
Balance, end of period	$ 75	$ 55

REVENUE AND PRODUCT COSTS

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

REVENUE AND PRODUCT COSTS

2. REVENUE AND PRODUCT COSTS

Revenue consists of product revenue, technology enabled services, and managed services. Product sales include BolaWrap products and accessories. Technology enables services includes VR revenue, service, training and shipping revenue. Managed services revenue includes consulting services delivered to third parties and billed on an agreed hourly fee basis when enforceable right to payment exists.

The timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally has an unconditional right to consideration when customers are invoiced, and a receivable is recorded. A contract asset is recognized when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized subsequent to invoicing. The Company recognizes an asset if there are incremental costs of obtaining a contract with a customer such as commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract. The Company may receive consideration, per terms of a contract, from customers prior to transferring goods to the customer. The Company records customer deposits as a contract liability. Additionally, the Company may receive payments, most typically for service and warranty contracts, at the onset of the contract and before the services have been completed. In such instances, a deferred revenue liability is recorded. The Company recognizes these contract liabilities as revenue after all revenue recognition criteria are met. Estimated costs for the Company’s standard warranty, generally one-year, are charged to cost of products sold when revenue is recorded for the related product. Royalties are also charged to the cost of products sold.

The table below details the activity in our contract liabilities during the six months ended June 30, 2025.

SCHEDULE OF CONTRACT LIABILITIES

	Customer		Deferred
	Deposits		Revenue
Balance at January 1, 2025	$	27	$	505
Additions, net		-		205
Transfer to revenue		-		(385	)
Balance at June 30, 2025	$	27	$	325
Current portion	$	27	$	302
Long-term portion	$	-	$	23

As of June 30, 2025, the Company’s deferred revenue of $325 consisted of Technology Enabled Services.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SHARE-BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024	Mar. 28, 2017
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock options		6,861,711		6,861,711		3,944,284
Share based expense		$ 770	$ 242	$ 2,435	$ 918
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield rate				0.00%	0.00%
Share based expense		477	(33)	$ 864	$ 434
Contract term				6 years	6 years
Expected volatility				76.00%	76.00%
Risk-free interest rate				4.06%	3.97%
Unrecognized stock-based compensation		5,591		$ 5,591
Weighted average period				3 years 10 days
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based expense		$ 293	$ 275	$ 1,571	$ 484
Restricted stock units, granted	632,911			663,931
Stock price		$ 3.40		$ 3.40
Contract term				10 years
Expected volatility				78.00%
Risk-free interest rate				4.10%
Market capital		$ 1,000,000		$ 1,000,000
Service period				4 years 3 months 18 days
Unrecognized stock-based compensation		$ 1,368		$ 1,368
Weighted average period				2 years 6 months 21 days
2017 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number if shares, issued							2,000,000
Shares of common stock remaining available for grant		4,004,187		4,004,187
2017 Stock Incentive Plan [Member] \| First Amendment [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number if shares, issued							4,100,000
2017 Stock Incentive Plan [Member] \| Second Amendment [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number if shares, issued							6,000,000
2017 Stock Incentive Plan [Member] \| Third Amendment [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number if shares, issued							7,500,000
2017 Stock Incentive Plan [Member] \| Fourth Amendment [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number if shares, issued							9,000,000
2017 Stock Incentive Plan [Member] \| Fifth Amendment [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number if shares, issued							16,500,000
2017 Stock Incentive Plan [Member] \| Servicebased Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock options		5,571,545		5,571,545
2017 Stock Incentive Plan [Member] \| Performance Based Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of stock options		1,290,166		1,290,166

DEFINED CONTRIBUTION PLAN (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Retirement Benefits [Abstract]
Defined contribution	$ 23	$ 0

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

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+ Details

ORGANIZATION, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT DEVELOPMENTS (Policies)	6 Months Ended
	Jun. 30, 2025
Accounting Policies [Abstract]
Organization and Business Description	Organization and Business Description Wrap Technologies, Inc., a Delaware corporation (the “Company”, “we”, “us”, and “our”), is a publicly traded company with its common stock, par value $0.0001 per share (“Common Stock”), listed on the Nasdaq Capital Market (“Nasdaq”) under the trading symbol “WRAP.” The Company is a developer and supplier of public safety products and training services for law enforcement and security personnel. The Company’s primary product is the BolaWrap® remote restraint device. The principal markets for the Company’s proprietary products and services are in North and South America, Europe, Middle East and Asia.
Basis of Presentation	Basis of Presentation The Company’s unaudited interim condensed consolidated financial statements included herein have been prepared in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X and the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the accompanying financial statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the footnotes. The condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended December 31, 2024, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “Annual Report”), as filed with the SEC on March 31, 2025 and as amended on April 25, 2025. The accompanying condensed consolidated balance sheet as of June 30, 2025 has been derived from the audited consolidated balance sheet as of December 31, 2024, contained in the Annual Report. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. Where necessary, the prior year’s information has been reclassified to conform to the current year’s presentation.
Principles of Consolidation	Principles of Consolidation The Company has three wholly owned subsidiaries, Wrap Reality, Inc., that sells a virtual reality (“VR”) training system primarily targeting law enforcement agencies and Intrensic, LLC (“Intrensic”), specializing in Body Worn Camera and Digital Evidence Management solutions. The condensed consolidated financial statements include the accounts of these subsidiaries after elimination of intercompany transactions and accounts.
Segment and Related Information	Segment and Related Information The Company operates as a single segment. The Company’s chief operating decision maker is Scot Cohen, the Company’s Executive Chairman and Chief Executive Officer, who manages operations for purposes of allocating resources. Refer to Note 15. Major Customers and Related Information for further discussion.
Goodwill	Goodwill Goodwill represents the difference, if any, between the aggregate consideration paid for an acquisition and the fair values of the underlying net assets and liabilities assumed from an acquired business. Goodwill is not amortized but instead is tested for impairment. The Company tests goodwill for impairment on an annual basis during the fourth quarter, or more frequently if conditions indicate that such impairment could exist. The Company evaluates qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying value and whether it is necessary to perform goodwill impairment process.
Definite-lived Intangible Assets	Definite-lived Intangible Assets Definite-lived intangible assets represent certain trade names, patents, licenses, software, acquired technology and customer relationships. Definite-lived intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses, if any. Definite-lived intangible assets acquired through the business combination are measured at fair value at the acquisition date. The Company amortizes these acquired definite-lived intangibles assets with a finite life on a straight-line basis, over 6 years for technology; between 3 and 7 years for customer relationships; and 8 years for trademarks and trade names.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions (e.g., stock-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued expense, valuation of warrants, and recognition and measurement of contingencies) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenue and expense during the reporting period. Actual results could materially differ from those estimates.
Warrants	Warrants The Company accounts for warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own shares of Common Stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company accounts for the warrants issued in accordance with the guidance contained in ASC 815-40-15-7C, under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s condensed consolidated statement of operations. On June 30, 2025, the Company entered into the Series A Warrant Amendment (as defined herein) and the 2025 Warrant Amendment (as defined herein). As a result, the Series A Warrants (as defined here) and the PIPE Warrants (as defined herein), each satisfy the requirements outlined in ASC 815-10-15-74(a)(1) and in ASC 815-10-15-74(a)(2). Under ASC 815-40-35-10, the amended instruments qualify for equity-classification on a prospective basis. The effective date of the relating reclassification from warrant liabilities to additional paid-in capital was June, 30, 2025. See Footnote 8: Warrants for additional detail.
Series A Preferred Stock	Series A Preferred Stock The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with ASC 480 and ASC 815 to determine if those instruments or embedded components of those instruments qualify as derivatives and are subject to bifurcation accounting. The Company determines that the economic characteristics and risks of the embedded derivative instrument are clearly and closely related to the economic characteristics and risks of the host contract. The convertible instruments are accounted for as a single hybrid instrument. Additionally, the convertible instruments do not have any redemption features that would preclude permanent equity classification in accordance with the guidance contained in ASC 480-10-S99. The Company issued the Series A Warrants (as defined herein), which are classified as liabilities and measured at fair value on a recurring basis, and the Series A Convertible Preferred Stock (the “Series A Preferred Stock”) in one transaction. The issuance proceeds were allocated by using the with-and-without method. Under this method, the Company first allocated the issuance proceeds to the Series A Warrants based on their initial fair value measurement and then allocated the remaining proceeds to the Series A Preferred Stock. On June 30, 2025, the Company and Holders of the Series A Warrants (as defined herein) amended the Series A Warrants, which allowed the Company to account for the Series A Warrants as equity under ASC 480 and a reclassification was recorded from warrant liability to additional paid-in-capital.
Revenue Recognition	Revenue Recognition The Company recognizes revenue under ASC Topic 606 - Revenue from Contracts with Customers (“ASC 606”). Revenue is recognized when control of the promised goods or performance obligations for services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods or services. The Company enters into contracts that include various combinations of products, accessories, software and services, each of which are generally distinct and are accounted for as separate performance obligations. Product sales include BolaWrap products and accessories. Managed services revenue represents the consulting services provided to customers of W1 Global, LLC (“W1”). Other revenue includes VR revenues, service, training and shipping revenues. The timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally has an unconditional right to consideration when customers are invoiced, and a receivable is recorded. A contract asset is recognized when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized after invoicing. The Company recognizes an asset if there are incremental costs of obtaining a contract with a customer such as commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract. The Company may receive consideration, per terms of a contract, from customers prior to transferring goods to the customer. The Company records customer deposits as a contract liability. Additionally, the Company may receive payments, most typically for service and warranty contracts, at the onset of the contract and before the services have been completed. In such instances, a deferred revenue liability is recorded. The Company recognizes these contract liabilities as revenue after all revenue recognition criteria are met. Estimated costs for the Company’s standard warranty, generally one-year, are charged to cost of products sold when revenue is recorded for the related product. Royalties are also charged to the cost of products sold.
Loss per Share	Loss per Share Basic loss per share (EPS) is computed by dividing net loss, less any dividends, accretion or decretion, redemption or induced conversion, if any, on the Company’s Series A Preferred Stock, by the weighted average number of shares outstanding during the reported period. In computing diluted EPS, we adjust the numerator used in the basic EPS computation, subject to anti-dilution requirements, to add back the dividends (declared or cumulative undeclared) applicable to the Series A Preferred Stock. Such add-back would also include any adjustments to equity in the period to accrete the Series A Preferred Stock to its redemption price, or recorded upon a redemption or induced conversion, if any. We adjust the denominator used in the basic EPS computation, subject to anti-dilution requirements, to include the dilution from potential shares resulting from the issuance of the Series A Preferred Stock, restricted stock units, and stock options. Stock options and restricted stock units exercisable or issuable for a total of 2,413,595 shares and 4,903,951 shares of Common Stock were outstanding as of June 30, 2025 and 2024, respectively. These securities are not included in the computation of diluted net loss per common share for the periods presented as their inclusion would be antidilutive due to losses incurred by the Company.
Recently Issued Accounting Guidance Not Yet Effective	Recently Issued Accounting Guidance Not Yet Effective In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain costs and expenses, including employee compensation, and requires other improvements to disclosures. The amendments in this update are effective for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The update may be applied on a prospective or retrospective basis. The Company is evaluating the impact of ASU 2024-03 on the Company’s notes to the consolidated financial statements.

INVENTORIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
INVENTORIES (Details Narrative) - USD ($)	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventory reserve expense	$ 169	$ 12	$ 187	$ 12

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 4,177	$ 3,610
Accounts receivable and contract assets, net	906	513
Inventories, net	5,904	6,170
Prepaid expense and other current assets	334	178
Total current assets	11,321	10,471
Property and equipment, net	87	146
Operating lease right-of-use asset, net	1,814	1,964
Intangible assets, net	2,262	2,354
Other long-term assets	128	186
Total assets	15,612	15,121
Current liabilities:
Accounts payable	583	609
Accrued liabilities	872	1,403
Customer deposits	27	27
Deferred revenue - short term	302	466
Operating lease liability - short term	218	567
Warrants		10,131
Total current liabilities	2,002	13,203
Deferred revenue – long-term	23	39
Operating lease liability – long-term	1,826	1,629
Total long-term liabilities	1,849	1,668
Total liabilities	3,851	14,871
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred Stock
Common stock - 150,000,000 authorized; par value $0.0001 per share; 50,728,535 and 47,101,631 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	5	5
Additional paid-in capital	120,783	105,326
Accumulated deficit	(109,027)	(105,081)
Total stockholders’ equity	11,761	250
Total liabilities and stockholders’ equity	15,612	15,121
Convertible Preferred Stock [Member]
Stockholders’ equity:
Preferred Stock

COMMITMENTS AND CONTINGENCIES (Details Narrative) $ in Thousands	6 Months Ended
	Jun. 30, 2025 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contractual Obligation	$ 508
Facility Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lessor, Operating Lease, Description	The initial term of the agreement is for five years and commences on October 1, 2025.
Operating Lease, Lease Income, Lease Payments	$ 600

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	6 Months Ended
	Feb. 24, 2025	Jun. 29, 2023	Jun. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
Common Stock [Member]
Related Party Transaction [Line Items]
Stock issued during period, shares, new issues				3,216,666
Common Stock [Member] \| Securities Purchase Agreement [Member] \| Private Placement [Member]
Related Party Transaction [Line Items]
Sale of stock	3,216,666
PIPE Warrants [Member] \| Securities Purchase Agreement [Member]
Related Party Transaction [Line Items]
Class of warrant or right, number of securities called by warrants or rights	3,216,666
Exercise price of warrants	$ 1.80
PIPE Warrants [Member] \| Securities Purchase Agreement [Member] \| V4 Global LLC [Member]
Related Party Transaction [Line Items]
Sale of stock	1,100,000
Gross proceeds	$ 1,980
PIPE Warrants [Member] \| Securities Purchase Agreement [Member] \| Continuum Ventures LLC [Member]
Related Party Transaction [Line Items]
Sale of stock	275,000
Gross proceeds	$ 495
PIPE Warrants [Member] \| Securities Purchase Agreement [Member] \| Savbo Investments LLC [Member]
Related Party Transaction [Line Items]
Sale of stock	50,000
Gross proceeds	$ 90
Series A Preferred Stock [Member]
Related Party Transaction [Line Items]
Dividends				$ 328	$ 189
Executive Chairman [Member]
Related Party Transaction [Line Items]
Class of warrant or right, number of securities called by warrants or rights		2,068,966
Proceeds from issuance or sale of equity		$ 3,000
Executive Chairman [Member] \| Series A Preferred Stock [Member]
Related Party Transaction [Line Items]
Stock issued during period, shares, new issues		3,000
Executive Chairman [Member] \| Series A Preferred Stock [Member] \| Mr. Cohen [Member]
Related Party Transaction [Line Items]
Dividends				$ 60

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Total revenues	$ 1,012	$ 1,573	$ 1,778	$ 3,049
Americas [Member]
Total revenues	846	1,536	1,592	2,999
Europe Middle East and Africa [Member]
Total revenues	166	37	186	43
Asia Pacific [Member]
Total revenues				$ 7

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS

Intangible assets, net consisted of the following:

	June 30, 2025			December 31, 2024
Amortizable intangible assets:
Patents	$	1,073		$	1,013
Trademarks		294			264
Purchased software and technology		1,752			1,752
Customer Relationships		215			160
Amortizable intangible assets, gross	$	3,334		$	3,189
Accumulated amortization		(1,493	)		(1,256	)
Total amortizable	$	1,841		$	1,933
Indefinite life assets (non-amortizable)		421			421
Total intangible assets, net	$	2,262		$	2,354

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE

As of June 30, 2025, future amortization expense is as follows:


2025 (6 months)	$	234
2026		368
2027		226
2028		217
2029		176
Thereafter		620
Total	$	1,841

INVENTORIES

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

INVENTORIES

4. INVENTORIES

SCHEDULE OF INVENTORY

	June 30, 2025			December 31, 2024
Finished goods	$	4,337		$	4,387
Raw materials		2,234			2,263
Reserve for Obsolescence		(667	)		(480	)
Inventories - net	$	5,904		$	6,170

Inventory reserve expense was $169 and $187 for the three and six months ended June 30, 2025, respectively, and $12 and $12 for the three and six months ended June 30, 2024, respectively.

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,359	$ 1,351
Accumulated depreciation	(1,272)	(1,205)
Property and equipment, net	87	146
Production and Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	432	432
Tooling [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	570	570
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	237	229
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 120	$ 120

SCHEDULE OF FAIR OF WARRANT LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Platform Operator, Crypto Asset [Line Items]
Change in fair value of warrant liabilities	$ 871	$ (2,738)	$ (3,158)	$ (6,917)
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto Asset [Line Items]
Fair value at inception for December 31, 2024 or the beginning of the period for June 30, 2025			(10,131)	$ (19,703)	$ (19,703)
Warrants issued with Private Placement			(5,186)
Change in fair value of warrant liabilities			3,158		9,572
Reclassification of warrant liabilities to equity			12,159
Fair value as of period end					$ (10,131)

- Definition

Fair value of financial obligations, including, but not limited to, debt instruments, derivative liabilities, federal funds purchased and sold under agreements to repurchase, securities loaned or sold under agreements to repurchase, financial instruments sold not yet purchased, guarantees, line of credit, loans and notes payable, servicing liability, and trading liabilities.

+ References + Details

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Depreciation	$ 27	$ 114	$ 67	$ 230

REVENUE AND PRODUCT COSTS (Tables)

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

SCHEDULE OF CONTRACT LIABILITIES

The table below details the activity in our contract liabilities during the six months ended June 30, 2025.

SCHEDULE OF CONTRACT LIABILITIES

	Customer		Deferred
	Deposits		Revenue
Balance at January 1, 2025	$	27	$	505
Additions, net		-		205
Transfer to revenue		-		(385	)
Balance at June 30, 2025	$	27	$	325
Current portion	$	27	$	302
Long-term portion	$	-	$	23

SCHEDULE OF STOCK OPTION ACTIVITY, FAIR VALUE OF ASSUMPTIONS (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected stock price volatility	76.00%	76.00%
Risk-free interest rate	4.06%	3.97%
Expected dividend yield	0.00%	0.00%
Expected life of options - years	6 years	6 years
Weighted-average fair value of options granted	$ 1.05	$ 2.90

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

W1 ACQUISITION (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2025	Feb. 18, 2025	Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]
Intangible assets	$ 2,262		$ 2,354
Customer Relationships [Member] \| Asset Purchase Agreement [Member]
Intangible Asset, Acquired, Finite-Lived [Line Items]
Intangible assets		$ 54

Cover - $ / shares	6 Months Ended
Cover - $ / shares	Jun. 30, 2025	Aug. 13, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2025
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--12-31
Entity File Number	001-38750
Entity Registrant Name	Wrap Technologies, Inc.
Entity Central Index Key	0001702924
Entity Tax Identification Number	98-0551945
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	3480 Main Hwy
Entity Address, Address Line Two	Suite 202
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33133
City Area Code	(800)
Local Phone Number	583-2652
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	WRAP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,820,698
Entity Listing, Par Value Per Share	$ 0.0001

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Cash Flows From Operating Activities:
Net loss	$ (3,727)	$ (385)	$ (3,618)	$ (268)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			304	451
Share-based compensation			2,435	918
Warranty provision			2	17
Change in fair value of warrant liabilities	871	(2,738)	(3,158)	(6,917)
Non-cash lease expense			(199)	143
Provision for doubtful accounts			34
Write-off accounts receivables			26
Inventory obsolescence reserve			187	12
Changes in assets and liabilities:
Accounts receivable			(453)	(236)
Inventories			79	(707)
Prepaid expenses and other current assets			(156)	261
Accounts payable			(34)	25
Operating lease liability			197	(29)
Customer deposits				(1,002)
Accrued liabilities and other			(523)	39
Warranty settlement			(10)	(34)
Deferred revenue			(180)	41
Changes in other non-current assets			58	37
Net cash used in operating activities			(5,009)	(7,249)
Cash Flows From Investing Activities:
Proceeds from maturities of short-term investments				5,000
Capital expenditures for property and equipment			(8)	(13)
Investment in patents and trademarks			(145)	(97)
Net cash (used in) provided by investing activities			(153)	4,890
Cash Flows From Financing Activities:
Proceeds from exercise of stock options				588
Proceeds from issuance of warrants and common stock, net of offering costs			5,729
Dividends settled in Cash				(120)
Net cash provided by financing activities			5,729	468
Net increase (decrease) in cash and cash equivalents			567	(1,891)
Cash and cash equivalents, beginning of period			3,610	3,955	$ 3,955
Cash and cash equivalents, end of period	$ 4,177	$ 2,064	4,177	2,064	$ 3,610
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Reclassification of warrant liabilities to additional paid in capital			12,159
Change in unrealized gain on short-term investments				94
Dividends on convertible preferred stock			(328)	700
Dividends settled with common stock			$ 328	$ 140

LEASES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
LEASES (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Leases
Operating lease, right-of-use asset	$ 84	$ 72	$ 151	$ 143
Operating lease expense for capitalized operating leases	$ 156	166	$ 313	415
Operating lease, weighted average remaining lease term	5 years 8 months 23 days		5 years 8 months 23 days
Operating lease, weighted average discount rate, percent	15.00%		15.00%
Variable lease, cost	$ 17	14	$ 31	24
Short-term lease, cost	$ 0	$ 4	$ 0	$ 15

FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2025

Investments, All Other Investments [Abstract]

FINANCIAL INSTRUMENTS

3. FINANCIAL INSTRUMENTS

Assets and liabilities recorded at fair value on a recurring basis in the Condensed Consolidated Balance Sheets and assets and liabilities measured at fair value on a non-recurring basis or disclosed at fair value, are categorized based upon the level of judgment associated with inputs used to measure their fair values. The accounting guidance for fair value provides a framework for measuring fair value and requires certain disclosures about how fair value is determined. Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The accounting guidance also establishes a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is briefly summarized as follows:

Level 1-Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 2-Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and

Level 3-Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data.

The following table shows the Company’s short-term investments by significant investment category as of June 30, 2025, and December 31, 2024.

SCHEDULE OF SHORT TERM INVESTMENTS

	As of June 30, 2025
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	3,134	$	-	$	-	$	3,134
Total Financial Assets	$	3,134	$	-	$	-	$	3,134

	As of December 31, 2024
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	2,945		-		-	$	2,945
Total Financial Assets	$	2,945	$	-	$	-	$	2,945

Unrealized gains or losses resulting from our short-term investments are recorded in accumulated other comprehensive gain or loss as they are classified as available for sale. During the six months ended June 30, 2025, as well as the six months ended June 30, 2024, no gain (loss) was recorded to comprehensive loss.

The warrant liabilities are measured at fair value on a recurring basis. The subsequent measurement of the warrant liabilities as of June 30, 2025, is classified as Level 3 due to the use of an observable market quote in a non-active market and the management’s assumption of the expected stock price volatility.

The following table presents the fair value in the beginning of the period, the changes in the fair value, and the fair value at the end of the period of warrant liabilities:

SCHEDULE OF FAIR OF WARRANT LIABILITIES

Level 3:	June 30, 2025			December 31, 2024
Fair value at inception for December 31, 2024 or the beginning of the period for June 30, 2025	$	(10,131	)	$	(19,703	)
Warrants issued with Private Placement		(5,186	)		-
Change in fair value of warrant liabilities		3,158			9,572
Reclassification of warrant liabilities to equity		12,159			-
Fair value as of period end	$	-		$	(10,131	)

The Company used a Monte Carlo simulation to estimate the fair value of warrant liabilities as of June 30, 2025, being the date the Company entered into the Series A Warrant Amendment and the 2025 Warrant Amendment. The valuation was performed based on the amended terms of the Series A Warrants and PIPE Warrants. The following table summarizes the assumptions used to compute the fair value of the Company’s warrants:

MONTE CARLO SIMULATION MODEL – PIPE WARRANTS

	As of June 30, 2025
Expected stock price volatility		86	%
Risk-free interest rate		3.73	%
Dividends yield		0	%
Term (years)		4.50
Strike Price	$	1.45
Stock Price	$	1.56
Fair Value Per Warrant Share	$	1.235

MONTE CARLO SIMULATION MODEL – 2025 WARRANTS

	As of June 30, 2025
Expected stock price volatility		89	%
Risk-free interest rate		3.77	%
Dividends yield		0	%
Term (years)		5.15
Strike Price	$	1.80
Stock Price	$	1.56
Fair Value Per Warrant Share	$	1.132

The Company used the modified Black-Scholes option pricing model to determine the fair value of warrant liabilities as of December 31, 2024. The following table summarizes the assumptions used to compute the fair value of the Company’s warrants:

	As of December 31, 2024
Expected stock price volatility		88	%
Risk-free interest rate		4.25	%
Dividends yield		0	%
Weighted average expected life of warrants (years)		3.50
Weighted average exercise price	$	1.45

Our other financial instruments also include accounts receivable, accounts payable, accrued liabilities and customer deposits. Due to the short-term nature of these instruments, their fair values approximate their carrying values on the balance sheet.

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2025	Dec. 31, 2024
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	150,000,000	150,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	50,728,535	47,101,631
Common stock, shares outstanding	50,728,535	47,101,631
Convertible Preferred Stock [Member]
Preferred stock, shares authorized	10,000	10,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	8,207	8,207
Preferred stock, shares outstanding	8,207	8,207

SCHEDULE OF BLACK SCHOLES OPTION PRICING MODEL OF WARRANT LIABILITIES (Details)	Jun. 30, 2025	Dec. 31, 2024
Measurement Input, Price Volatility [Member]
Business Combination [Line Items]
Warrants, measurement input		88
Measurement Input, Price Volatility [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	86
Measurement Input, Price Volatility [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	89
Measurement Input, Risk Free Interest Rate [Member]
Business Combination [Line Items]
Warrants, measurement input		4.25
Measurement Input, Risk Free Interest Rate [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	3.73
Measurement Input, Risk Free Interest Rate [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	3.77
Measurement Input, Expected Dividend Rate [Member]
Business Combination [Line Items]
Warrants, measurement input		0
Measurement Input, Expected Dividend Rate [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	0
Measurement Input, Expected Dividend Rate [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	0
Measurement Input, Expected Term [Member]
Business Combination [Line Items]
Warrants, measurement input		3.50
Measurement Input, Expected Term [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	4.50
Measurement Input, Expected Term [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	5.15
Measurement Input, Exercise Price [Member]
Business Combination [Line Items]
Warrants, measurement input		1.45
Measurement Input, Exercise Price [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	1.45
Measurement Input, Exercise Price [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	1.80
Measurement Input, Share Price [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	1.56
Measurement Input, Share Price [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	1.56
Fair Value Per Warrant Share [Member] \| SERIES A WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	1.235
Fair Value Per Warrant Share [Member] \| 2025 WARRANTS [Member]
Business Combination [Line Items]
Warrants, measurement input	1.132

SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

17. SUBSEQUENT EVENTS

The Company has reviewed activities through August 14, 2025, and determined that there are no subsequent events that require disclosure in accordance with ASC 855-10-25-1.

SCHEDULE OF SHARE-BASED COMPENSATION FOR OPTIONS AND RESTRICTED STOCK UNITS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based expense	$ 770	$ 242	$ 2,435	$ 918
Selling, General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based expense	755	208	2,358	856
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based expense	$ 15	$ 34	$ 77	$ 62

INTANGIBLE ASSETS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible	$ 123	$ 113	$ 238	$ 220

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

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-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
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-Name Accounting Standards Codification
-Section 55
-Paragraph 18
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

6. INTANGIBLE ASSETS

Intangible Assets, net

Intangible assets, net consisted of the following:

	June 30, 2025			December 31, 2024
Amortizable intangible assets:
Patents	$	1,073		$	1,013
Trademarks		294			264
Purchased software and technology		1,752			1,752
Customer Relationships		215			160
Amortizable intangible assets, gross	$	3,334		$	3,189
Accumulated amortization		(1,493	)		(1,256	)
Total amortizable	$	1,841		$	1,933
Indefinite life assets (non-amortizable)		421			421
Total intangible assets, net	$	2,262		$	2,354

Amortization expense was $123 and $238 for the three and six months ended June 30, 2025, respectively, and $113 and $220 for the three and six months ended June 30, 2024, respectively.

As of June 30, 2025, future amortization expense is as follows:


2025 (6 months)	$	234
2026		368
2027		226
2028		217
2029		176
Thereafter		620
Total	$	1,841

SCHEDULE OF CONTRACT LIABILITIES (Details) $ in Thousands	6 Months Ended
SCHEDULE OF CONTRACT LIABILITIES (Details) $ in Thousands	Jun. 30, 2025 USD ($)
Disaggregation of Revenue [Line Items]
Current portion	$ 302
Long-term portion	23
Customer Deposits [Member]
Disaggregation of Revenue [Line Items]
Balance at January 1, 2025	27
Additions, net
Transfer to revenue
Balance at June 30, 2025	27
Current portion	27
Long-term portion
Extended Warranties And Services VR And Training [Member]
Disaggregation of Revenue [Line Items]
Balance at January 1, 2025	505
Additions, net	205
Transfer to revenue	(385)
Balance at June 30, 2025	325
Current portion	302
Long-term portion	$ 23

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

SCHEDULE OF OPERATING LEASE OBLIGATIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Leases
Operating lease liability- short term	$ 218	$ 567
Operating lease liability - long term	1,826	$ 1,629
Total Operating Lease Liability	$ 2,044

MAJOR CUSTOMERS AND RELATED INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025

Risks and Uncertainties [Abstract]

SCHEDULE OF DISAGGREGATION OF REVENUE

The following table summarizes revenue by geographic region. Revenue is attributed to countries based on customer’s delivery location:

SCHEDULE OF DISAGGREGATION OF REVENUE

	2025		2024		2025		2024
	For the Three Months				For the Six Months
	Ended June 30,				Ended June 30,
	2025		2024		2025		2024
Americas	$	846	$	1,536	$	1,592	$	2,999
Europe, Middle East and Africa		166		37		186		43
Asia Pacific		-		-		-		7
Total revenues	$	1,012	$	1,573	$	1,778	$	3,049

SCHEDULE OF INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Finished goods	$ 4,337	$ 4,387
Raw materials	2,234	2,263
Reserve for Obsolescence	(667)	(480)
Inventories - net	$ 5,904	$ 6,170

PROPERTY AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT

	June 30, 2025			December 31, 2024
Production and lab equipment	$	432		$	432
Tooling		570			570
Computer equipment		237			229
Furniture, fixtures and improvements		120			120
Property and equipment, gross	$	1,359		$	1,351
Accumulated depreciation		(1,272	)		(1,205	)
Property and equipment, net	$	87		$	146

STOCKHOLDERS’ EQUITY

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

STOCKHOLDERS’ EQUITY

10. STOCKHOLDERS’ EQUITY

The Company’s authorized capital consists of 150,000,000 shares of Common Stock and 5,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”), of which 10,000 are designated as Series A Preferred Stock.

On July 3, 2023, the Company filed the Certificate of Designations of the Series a Preferred Stock (the “Certificate of Designations”) with the Secretary of State of the State of Delaware, designating 10,000 shares of its Preferred Stock as Series A Convertible Preferred Stock. The terms of the Series A Preferred Stock are as set forth in the form of Certificate of Designations of the Series A Preferred Stock (the “Certificate of Designations”). The Series A Preferred Stock is convertible into shares of Common Stock (the “Conversion Shares”) at the election of the holder at any time at an initial conversion price of $1.45 (the “Conversion Price”). The Conversion Price is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for common stock, at a price below the then-applicable Conversion Price (subject to certain exceptions).

The holders of the Series A Preferred Stock are entitled to dividends of 8% per annum, compounded monthly, which are payable in cash or shares of Common Stock, or a combination thereof, at the Company’s option in accordance with the terms of the Certificate of Designations. Upon the occurrence and during the continuance of a Triggering Event (as defined in the Certificate of Designations), the Series A Preferred Stock will accrue dividends at the rate of 20% per annum. If the Company elects to pay any dividends in shares of Common Stock, the Conversion Price used to calculate the number of shares issuable will be equal to the lower of (i) the then applicable Conversion Price and (ii) 85% of the arithmetic average of the three (3) lowest closing prices of the Company’s Common Stock during the twenty (20) consecutive trading day period ending on the trading day immediately preceding the dividend payment date, provided that such price shall not be lower than the lower of (x) $0.2828 (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events ) and (y) 20% of the “Minimum Price” (as defined in Nasdaq Stock Market Rule 5635) on the date of the Stockholder Approval (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Stock Market.

On August 19, 2024, the Company entered into an Amendment Agreement (the “August 2024 Amendment”) with the Required Holders (as defined in the Certificate of Designations). Pursuant to the August 2024 Amendment, the Required Holders agreed that (A) the unpaid and accrued dividends on the Series A Preferred Stock due July 1, 2024 (the “July Delinquent Dividend Amount”), shall be payable, at the option of the Company, in (i) cash and/or (ii) shares of Common Stock, at a price per share of Common Stock equal to the lower of (x) $1.00 and (y) the Dividend Conversion Price (as defined in the Certificate of Designations), using July 1, 2024, as the applicable date of determination in accordance with the Certificate of Designations; (B) the dividends due on October 1, 2024 (the “October Dividend Amount” and, together with the July Delinquent Dividend Amount, the “Delinquent Dividend Amounts”), shall be payable in shares of Common Stock based on a per share price of Common Stock equal to 80% of the arithmetic average of the three (3) lowest closing sale prices of the Common Stock during the month of September 2024; and (C) such Delinquent Dividend Amounts and any Dividend Balance Shares (as defined in the Certificate of Designations), with respect thereto, if applicable, shall be delivered on October 1, 2024. The Company and the Required Holders further agreed pursuant to the August 2024 Amendment to amend (i) the Certificate of Designations, as described below, by filing a Certificate of Amendment to the Certificate of Designations (the “August 2024 Certificate of Amendment”) and (ii) the Series A Purchase Agreement to amend the definition of “Excluded Securities.” The August 2024 Certificate of Amendment amends the Certificate of Designations to, among other things, (A) allow for the payment of dividends in the form of Common Stock to a holder of the Series A Preferred Stock who serves as a director, officer or employee of the Company; provided that such issuance is approved by the Company’s stockholders prior to such issuance, and (B) amend certain conditions required for (i) a mandatory conversion of the Series A Preferred Stock (as described below), and (ii) the Company’s right to redeem, all or a portion, of the Series A Preferred Stock outstanding pursuant to an optional redemption (as described below), in each case, pursuant to the terms of the Certificate of Designations.

Pursuant to the August 2024 Certificate of Amendment, the Company may require holders to convert their shares of Series A Preferred Stock into shares of Common Stock if the closing price of the Company’s Common Stock exceeds $8.00 per share (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) for 20 consecutive trading days and the daily dollar trading volume of the Common Stock exceeds $2,000,000 per day during the same period, provided that certain equity conditions described in the Certificate of Designations are satisfied.

Pursuant to the August 2024 Certificate of Amendment, at any time beginning 18 months from the date of the issuance, provided that the Company has filed all reports required to be filed by it pursuant to the Exchange Act on a timely basis for a continuous period of one year and provided further that certain equity conditions described in the Certificate of Designations are satisfied, the Company has the right to redeem in cash all or some of the shares of the Series A Preferred Stock outstanding at such time at a redemption price equal to the product of (x) 125% multiplied by (y) the sum of (A) the stated value of the Series A Preferred Stock plus (B) all declared and unpaid Dividends on such Preferred Stock and any other unpaid amounts then due and payable hereunder with respect to such Series A Preferred Stock, plus (C) the make-whole amount, plus (D) any accrued and unpaid late charges with respect to such stated value and amounts payable pursuant to clause (B) as of such date of determination.

On October 14, 2024, the Company entered into an Amendment Agreement with the Required Holders (as defined in the Certificate of Designations), pursuant to which, the Required Holders agreed to amend the Certificate of Designations of the Company’s Series A Preferred Stock, as described below, by filing a Certificate of Amendment to the Certificate of Designations (the “October 2024 Certificate of Amendment”). The October 2024 Certificate of Amendment amends the Certificate of Designations to, among other things, provide that, except as required by applicable law, the holders of the Series A Preferred Stock will be entitled to vote with holders of the Common Stock on an as converted basis, with the number of votes to which each holder of Series A Preferred Stock is entitled to be calculated assuming a conversion price of $1.414 per share, which was the Minimum Price (as defined in Rule 5635 of the Rule of the Nasdaq Stock Market) applicable immediately before the execution and delivery of the Series A Purchase Agreement, subject to certain beneficial ownership limitations as set forth in the Certificate of Designations. The October 2024 Certificate of Amendment further provides that (i) certain holders of the Series A Preferred Stock will not be subject to certain beneficial ownership limitations as described in the Certificate of Designations, and (ii) stockholder approval will not be required in connection with the payment of dividends in the form of Common Stock to a holder of the Series A Preferred Stock who serves as a director, officer or employee of the Company. The October 2024 Certificate of Amendment was filed with the Secretary of State of the State of Delaware, effective as of October 14, 2024. The holders of the Series A Preferred Stock have no voting rights, other than with respect to certain matters affecting the rights of the Series A Preferred Stock.

On November 25, 2024, the Company entered into an Amendment and Agreement with the Series A Investors (the “November 2024 Amendment Agreement”), pursuant to which, (i) the Series A Investors agreed to amend the Certificate of Designations, as described below, by filing a Certificate of Amendment to the Certificate of Designations with the Secretary of State (the “November 2024 Certificate of Amendment”), and (ii) the Series A Investors and the Company agreed that all payment amounts that have accrued and are unpaid as of November 25, 2024, pursuant to the Certificate of Designations and the August 2024 Amendment will be satisfied by delivery of shares of Common Stock on or prior to November 25, 2024, with each Series A Investor entitled to receive the number of shares of Common Stock specified below such Series A Investor’s name on its respective signature page thereto. The November 2024 Certificate of Amendment amends the Certificate of Designations to provide that upon the occurrence of a Triggering Event (as defined in the Certificate of Designations), the Series A Preferred Stock will accrue dividends compounded monthly at the rate of 20% per annum. The Certificate of Amendment became effective with the Secretary of State on December 6, 2024.

At the time of issuance, $2,036 of the net proceeds less transaction cost of the Series A Purchase Agreement was allocated to the 10,000 shares of Series A Preferred Stock initially issued. As of December 31, 2024, a total of 1,793 shares of Series A Preferred Stock were converted into approximately 1,468,000 shares of Common Stock. There were no additional conversions in the six months end June 30, 2025. As of June 30, 2025, the Company has authorized, declared and paid $328 in dividends in the form of shares of the Company’s Common Stock during the six months ended June 30, 2025. For the six months ended June 30, 2024, authorized and declared dividends totaling $189, of which $60 was paid in cash, $129 was paid in shares of the Company’s Common Stock.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

13. COMMITMENTS AND CONTINGENCIES

Purchase Commitments

As of June 30, 2025, the Company was committed for approximately $508 for future component deliveries that are generally subject to modification or rescheduling in the normal course of business.

Indemnifications and Guarantees

Our officers and directors are indemnified as to personal liability as provided by Delaware law and the Company’s articles of incorporation and bylaws. The Company may also undertake indemnification obligations in the ordinary course of business related to its operations. The Company is unable to estimate with any reasonable accuracy the liability that may be incurred pursuant to any such indemnification obligations now or in the future. Because of the uncertainty surrounding these circumstances, the Company’s current or future indemnification obligations could range from immaterial to having a material adverse impact on its financial position and its ability to continue in the ordinary course of business. The Company has no liabilities recorded for such indemnities.

Regulatory Agencies

The Company is subject to oversight from regulatory agencies regarding firearms that arise in the ordinary course of its business.

Litigation

The Company is subject to litigation and other claims in the ordinary course of business. The Company records a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed and adjusted to include the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel, and other information and events pertaining to a particular matter. As of June 30, 2025, the Company had no provision for liability under existing litigation.

Facility lease

The Company entered into a facility lease agreement for its new production facility based in Norton, Virginia. The initial term of the agreement is for five years and commences on October 1, 2025. The total cash payments to the lessor during the term are $600.

PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

5. PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT

	June 30, 2025			December 31, 2024
Production and lab equipment	$	432		$	432
Tooling		570			570
Computer equipment		237			229
Furniture, fixtures and improvements		120			120
Property and equipment, gross	$	1,359		$	1,351
Accumulated depreciation		(1,272	)		(1,205	)
Property and equipment, net	$	87		$	146

Depreciation expense was $27 and $67 for the three and six months ended June 30, 2025, respectively, and $114 and $230 for the three and six months ended June 30, 2024, respectively.

W1 ACQUISITION

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

W1 ACQUISITION

16. W1 ACQUISITION

On February 18, 2025, the Company and W1, entered into an Asset Purchase Agreement, dated as of February 18, 2025 pursuant which, subject to the terms and conditions set forth therein, the Company agreed to acquire substantially all the assets of W1 used in, held for use in or relating to the business of advisory and investigative professional services which related to specific identified customer contracts. The Company recorded the transaction as an Asset Acquisition in accordance with ASC 805 and recorded $54 as intangible assets included in Customer Relationships (See Note 6 “Intangible Assets” above). The Company has preliminarily assigned a three-year life to such Customer Relationships.

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 3,334	$ 3,189
Accumulated amortization	(1,493)	(1,256)
Total amortizable	1,841	1,933
Indefinite life assets (non-amortizable)	421	421
Total intangible assets, net	2,262	2,354
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	1,073	1,013
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	294	264
Computer Software, Intangible Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	1,752	1,752
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 215	$ 160

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands				6 Months Ended		12 Months Ended
	Nov. 25, 2024	Aug. 19, 2024	Jul. 03, 2023	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024	Oct. 14, 2024
Class of Stock [Line Items]
Common stock, shares authorized				150,000,000		150,000,000
Preferred stock, shares authorized				5,000,000		5,000,000
Preferred stock, par value				$ 0.0001		$ 0.0001
Conversion description			the Conversion Price used to calculate the number of shares issuable will be equal to the lower of (i) the then applicable Conversion Price and (ii) 85% of the arithmetic average of the three (3) lowest closing prices of the Company’s Common Stock during the twenty (20) consecutive trading day period ending on the trading day immediately preceding the dividend payment date, provided that such price shall not be lower than the lower of (x) $0.2828 (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events ) and (y) 20% of the “Minimum Price” (as defined in Nasdaq Stock Market Rule 5635) on the date of the Stockholder Approval (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Stock Market.
Common stock conversion price		$ 1.00
Common Stock [Member]
Class of Stock [Line Items]
Converted shares of common stock				0		1,468,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			10,000	10,000
Preferred stock conversion price			$ 1.45				$ 1.414
Dividend rate, percentage			8.00%
Preferred stock conversion price exceeds		$ 8.00
Preferred stock, consecutive trading amount		$ 2,000,000
Preferred stock, redemption price description		the Company has the right to redeem in cash all or some of the shares of the Series A Preferred Stock outstanding at such time at a redemption price equal to the product of (x) 125% multiplied by (y) the sum of (A) the stated value of the Series A Preferred Stock plus (B) all declared and unpaid Dividends on such Preferred Stock and any other unpaid amounts then due and payable hereunder with respect to such Series A Preferred Stock, plus (C) the make-whole amount, plus (D) any accrued and unpaid late charges with respect to such stated value and amounts payable pursuant to clause (B) as of such date of determination.
Net proceeds				$ 2,036
Shares issued				10,000
Converted shares of common stock						1,793
Dividends declared				$ 328	$ 189
Dividends preferred stock cash					60
Dividends settled with common stock					$ 129
Series A Preferred Stock [Member] \| Post Triggering Event [Member]
Class of Stock [Line Items]
Dividend rate, percentage	20.00%		20.00%

SCHEDULE OF ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Payables and Accruals [Abstract]
Patent and legal costs	$ 60	$ 60
Accrued compensation	213	121
Warranty costs	75	83
Royalty	81	81
Contract settlement		300
Accrued purchases	24	584
Accrued lease payable	166
Taxes and other	253	174
Total	$ 872	$ 1,403

MAJOR CUSTOMERS AND RELATED INFORMATION (Details Narrative) - Customer Concentration Risk [Member] - Integer	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Revenue Benchmark [Member] \| Customers [Member]
Concentration Risk [Line Items]
[custom:NumberOfMajorCustomers]	3		1
Revenue Benchmark [Member] \| Customer One [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	32.00%
Revenue Benchmark [Member] \| Customer Two [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	23.00%
Revenue Benchmark [Member] \| Customer Three [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%		16.00%
Accounts Receivable [Member] \| Customers [Member]
Concentration Risk [Line Items]
[custom:NumberOfMajorCustomers]			4
Concentration Risk, Percentage		10.00%		10.00%	10.00%
Accounts Receivable [Member] \| Customer One [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			15.00%
Accounts Receivable [Member] \| Customer Two [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			13.00%
Accounts Receivable [Member] \| Customer Three [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			11.00%
Accounts Receivable [Member] \| Distributors [Member]
Concentration Risk [Line Items]
[custom:NumberOfMajorCustomers]		1		2	2
Accounts Receivable [Member] \| Distributor Two [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		39.00%		20.00%	10.00%
Accounts Receivable [Member] \| Distributor One [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage				33.00%	11.00%
Accounts Receivable [Member] \| Customer Four [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			10.00%
Accounts Receivable [Member] \| Customer [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			10.00%

DEFINED CONTRIBUTION PLAN

6 Months Ended

Jun. 30, 2025

Retirement Benefits [Abstract]

DEFINED CONTRIBUTION PLAN

12. DEFINED CONTRIBUTION PLAN

The Company has a defined contribution savings plan for all eligible U.S. employees established under the provisions of Section 401(k) of the Internal Revenue Code. This plan was formed on January 1, 2022. Eligible employees may contribute a percentage of their salary subject to certain limitations. The Company’s contributions for each of the six months ended June 30, 2025 and 2024 was $23 and $0, respectively.

SCHEDULE OF SHORT TERM INVESTMENTS (Details) - Fair Value, Inputs, Level 1 [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2025	Dec. 31, 2024
Impairment Effects on Earnings Per Share [Line Items]
Adjusted cost	$ 3,134	$ 2,945
Unrealized gains
Unrealized losses
Market value	3,134	2,945
Money Market Funds [Member]
Impairment Effects on Earnings Per Share [Line Items]
Adjusted cost	3,134	2,945
Unrealized gains
Unrealized losses
Market value	$ 3,134	$ 2,945

SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS, FUTURE AMORTIZATION EXPENSE (Details) - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (6 months)	$ 234
2026	368
2027	226
2028	217
2029	176
Thereafter	620
Total amortizable	$ 1,841	$ 1,933

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2025	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Options Common Shares, Outstanding Beginning	3,944,284
Weighted Average Exercise Price Outstanding, Beginning	$ 2.12
Weighted Average Remaining Contractual Term, Outstanding	8 years 10 months 24 days	8 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding Beginning	$ 1,486
Options Common Shares, Granted	3,453,927
Weighted Average Exercise Price, Granted	$ 1.88
Options Common Shares, Exercised
Weighted Average Exercise Price, Exercised
Options Common Shares, Forfeited, cancelled, expired	(536,500)
Weighted Average Exercise Price, Forfeited/Cancelled	$ 2.86
Options Common Shares, Outstanding Ending	6,861,711	3,944,284
Weighted Average Exercise Price Outstanding, Ending	$ 1.94	$ 2.12
Aggregate intrinsic value, Outstanding Ending	$ 541	$ 1,486
Options Common Shares, Exercisable Ending	1,419,164
Weighted Average Exercise Price, Exercisable Ending	$ 2.58
Weighted Average Remaining Contractual Term, Exercisable	7 years 5 months 23 days
Aggregate intrinsic value, Exercisable Ending	$ 142

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Revenues:
Product sales	$ 197	$ 1,251	$ 550	$ 2,578
Managed services	764		1,000
Technology enabled services	51	322	228	471
Total revenues	1,012	1,573	1,778	3,049
Cost of revenues	525	589	695	1,229
Gross profit	487	984	1,083	1,820
Operating expenses:
Selling, general and administrative	3,181	3,475	7,266	7,695
Research and development	162	679	594	1,434
Total operating expenses	3,343	4,154	7,860	9,129
Loss from operations	(2,856)	(3,170)	(6,777)	(7,309)
Other income (expense):
Interest income	2	55	3	133
Change in fair value of warranty liabilities	(871)	2,738	3,158	6,917
Other	(2)	(8)	(2)	(9)
Total other income (expense), net	(871)	2,785	3,159	7,041
Net loss	(3,727)	(385)	(3,618)	(268)
Less: Convertible preferred stock dividends	(164)	(511)	(328)	(700)
Net loss attributable to common stockholders	$ (3,891)	$ (896)	$ (3,946)	$ (968)
Net loss per basic common share	$ (0.07)	$ (0.02)	$ (0.07)	$ (0.02)
Net loss per diluted common share	$ (0.07)	$ (0.02)	$ (0.07)	$ (0.02)
Weighted average common shares used to compute net loss per basic common share	50,609,509	45,324,917	49,439,838	44,470,183
Weighted average common shares used to compute net loss per diluted common share	50,609,509	45,324,917	49,439,838	44,470,183
Comprehensive loss:
Net loss	$ (3,727)	$ (385)	$ (3,618)	$ (268)
Comprehensive loss	$ (3,727)	$ (385)	$ (3,618)	$ (268)