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Elwood Norris, the California man known as Woody who invented it, was a serial creator of futuristic gadgets, some more whimsical than others. He developed early hands-free headsets and other sophisticated sound equipment but also the AirScooter, a personal flying machine that never gained popularity.
Mr. Cohen, another founder, was a venture capitalist who had invested in oil and gas as well as in fledgling companies whose shares, known as penny stocks, are traded on lightly regulated over-the-counter markets. He had previously put money – along with Mr. Kestenbaum and his family – into a company that made what it said was a healthy children’s beverage called AquaBall before pivoting to produce vaping liquids for e-cigarettes.
Wrap Technologies started trading on an over-the-counter exchange for $ 5 a share in May 2018.
By then, Mr. Carone was helping Mr. Adams position himself for a mayoral run in 2021 and introducing him to potential donors who could help fuel his campaign.
Among the donations Mr. Adams received in the summer of 2018 was $ 1,500 from the Wrap Technologies chairman, Mr. Cohen, records show.
Mr. Carone said he did not introduce Mr. Cohen to Mr. Adams or ask him for donations.
The mayor’s spokesman, Mr. Young, said Mr. Adams was not aware of Mr. Cohen’s donation at the time and did not meet him until months later.
Mr. Cohen’s June 2018 contribution came as Wrap Technologies was embarking on its first marketing blitz, staging BolaWrap demonstrations for police and the media in Utah, Missouri and elsewhere.
Local newspapers covered a demonstration for the Yonkers, NY, Police Department on Oct. 2, 2018.
About a week later, company representatives held a private BolaWrap showing for New York police officials at a department firing range in the Bronx. The officials rejected the device, concluding among other things that the loud crack it made when being fired – its flying tether at the time was propelled by a blank 9-millimeter pistol round – could be mistaken for gunfire and cause other officers to start shooting, people familiar with the meeting said.
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