Taser Research Contract 2002
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FOR RELEASE APRIL 24, 7:00 AM EST CONTACT: Phil Smith Chairman of the Board TASER International, Inc. (480) 905-2005 April 23, 2002 Office of Naval Research Awards Research Contract to TASER® International, Inc. Research program will focus on developing next generation EMD Technology SCOTTSDALE, AZ, April 23, 2002 – TASER International, Inc. (Nasdaq: TASR & TASRW), a provider of advanced less-lethal weapons for use in the law enforcement, private security and personal defense markets, was awarded a research contract for $130,000 from the Office of Naval Research in conjunction with Marine Corps Systems Command. The contract will fund research into advanced less-lethal weapons using TASER International’s core Electro-Muscular Disruption (EMD) technology. The research under the first phase of the contract should be completed within 12 months. Pending successful results from this first phase, the Marine Corps has the option to fund further research under this grant up to $731,000 over the next four years. “We are very excited about the opportunity to work with the United States Navy and the Marine Corps on developing next generation less-lethal weapons technologies,” commented Rick Smith, CEO of TASER International, Inc. “The award of this contract is very timely for us, with the recent addition of Max Nerheim, our new Electrical Engineering Manager, to our team. This will enable expansion of our overall research and development program to ensure we continue to lead the less-lethal weapons industry. “Perhaps more important than the research funding provided by this contract is the entrée into a new market of military applications for TASER International. We believe this contract further validates our technology, and will lead to significant long-term sales to various military agencies if the research results are as favorable as we anticipate,” Smith continued. “Our policy on new product development and research is to maintain a high degree of confidentiality. Accordingly, we will not disclose the specifics of the research under this contract until the technology is ready for commercialization.” About TASER International, Inc. TASER International, Inc. provides advanced less-lethal weapons for use in the law enforcement, private security, and personal defense markets. Its flagship ADVANCED TASER® product uses proprietary technology to incapacitate dangerous, combative, or high-risk subjects that may be impervious to other less-lethal means. This technology reduces injury rates to suspects and officers, thereby lowering liability risk and improving officer safety. The ADVANCED TASER is currently in testing or deployment at over 1400 law enforcement and correctional agencies in the U.S. and Canada. For more information, www.TASER.com. Certain statements contained in this document may be deemed to be forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, and TASER International intends that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements relate to: 1) expected revenue and earnings growth; 2) the Company’s estimates regarding the size of its target markets; 3) the ability of TASER to successfully penetrate the law enforcement market; 4) the growth expectations for existing accounts; 5) the ability of TASER to expand its product sales to the private security, military and consumer self-defense markets; and 6) the Company’s target business model. TASER cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements herein. Such factors include, but are not limited to: 1) market acceptance of the Company’s products; 2) TASER’s ability to establish and expands its direct and indirect distribution channels; 3) TASER’s ability to attract and retain the endorsement of key opinion-leaders in the law enforcement community; 4) the level of product technology and price competition for the Company’s Advanced TASER product; 5) the degree and rate of growth of the markets in ### which TASER competes and the accompanying demand for its products; and 6) other factors detailed in the Company’s filings with the Securities and Exchange Commission. ### ###