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tv   Frontline  PBS  October 22, 2013 10:00pm-11:00pm EDT

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believe it was that hot. i can't believe you go from that to buying a laser gun. yeah, because i felt bad. i had a little bit of luck back last may. the product was on the "today" show with kathie lee and hoda. and it was on for about 40-second airtime-- how many did you sell from those 40 seconds? well, i didn't have any inventory. so, online, did you take orders even though you didn't have inventory? i'd rolled into production, the "today" show hit, and when i got those orders back, 85% of those cool wazoos were wrong. that first run that i did, 85% of it went back to the factory because they didn't really know how to work with this kind of material. did they refund your money when you returned it? they didn't refund the money. (lori) but how many people ordered, anyway? about $14,000 in sales. what happened after that? well, i didn't really know how to capitalize on that. this past december, i was on the show "the doctors,"
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and it was a christmas special. wow! the first time, she wasn't in a position to take advantage of it. i'm sure when you were going on "the doctors," you said, "i don't want this to happen again." what happened? good point. well, i was kind of out of money at that point. they wanted to give everyone in the audience 250 cool wazoos, so that's where my inventory went. i basically gave it away. for free? for free. and what'd you get back in return? nothing, because the format of the show kind of... wow. changed a little bit at the last minute. that's not a great business decision. (kevin) you know what? i know. that's-- that was a bad-- you got cool wa-screwed. what are your sales? in the last 12 months, my sales have been $20,000, but i have had zero inventory. my efforts right now have not been on sales, because i'm moving my production overseas, because it's costing me too much money to make them here. how much is it costing you to make them here? it's costing me-- hold your breath. $30 to make one. wow. (gasps loudly)
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how much is it costing you to make them here? it's costing me-- hold your breath. $30 to make one. wow. (gasps) yeah, it's killing me, okay? shocking. i'm retailing them for $64.95. retail? what about wholesale? and wholesaling-- hold your breath-- $32.50. you're making $2 and fif-- that's why i'm not selling them! (robert) come on! that's why-- i'm not kidding you. are you a charity? so, yeah. where do you see your costs going? from $30 to what if you move production overseas? okay, so i've spent the last year, um, really focusing on not just the cost, but also the quality. (robert) how much? $11.36. nice. if you're doing this full time-- your husband supporting this effort with you? does your husband own half the business? he has funded the business 100%.
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and how much have you lost on it so far? $96,000. yo! whoa! that's a lot of burnt heinies. wow. wow. well, okay, so, it-- how much more pain can he sustain? (laughs) (chuckles) he's very tolerable. i mean, he's-- he is supportive 100%. if you lose another $100,000, he'd be okay? i think if i gave him a nice smile, he might. (laughs) (kevin) well... people like this product, and everything i've said-- i have not had one return on the product. ginelle, you're on a-- you're on a wonderful journey. really? you're... (laughs) journey to where? you're saving babies' behinds. you've lost $100,000. you have a very supporting partner. but it's--it's a long road. i'm not sure that i want to join you. on the wonderful journey? uh, it's not for me. i'm out. ♪ you make great faces. i gotta give you that. (laughter) i can't join you on the wonderful journey.
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i really can't, because i think it ends in tragedy with grown men weeping--me. (laughter) i'm out. wow. oh, man. two sharks are out. daymond, will you be joining her on the journey? (chuckles) well, i think that, um, you've learned a lot. but you're not as seasoned as a c.e.o. that i would like to work with. i'm out. okay, just back up. i have orders. i have a canadian distributor that i have signed an agreement with, and they are verbally saying 2,000 to 3,000 to start. but they did give me a purchase order for the first 1,000. i think you are great, and i think that you will solve problems, and solutions. i think that maybe this one won't be your hero, but there will be a hero in your future. i'm out.
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(stammers) let me show you how easy this is to work. the problem is not the product. the problem is it's not a company yet. i have to get a return on my time. it's not just on the-- the money. the money's actually the easier part. the harder part is time. to get you and educate you and put you through all this so you don't make as many mistakes, because otherwise, with my money, you're gonna go through an ongoing learning process. and because of that, i'm out. hmm. everyone's out? (inhales) (voice breaking) this means a lot. i have put-- i work so hard. i'm up at 2:00, 3:00, 4:00. i don't--i have entrepreneur hours.
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i mean, it's--it's been crazy, and i underestimated the time that it was gonna take me to get to china. i didn't know it was gonna take that hard. i have been working-- although it seems like i just launched, i have been working on this for four years almost. it took me two years to design it and to source the material. but i took everything that i was frustrated with these, and i made it better. i have had many tears over this product. (voice cracks) i... it's... ginelle, i'm gonna come back in. i really like you. (sniffles) and i really believe in you. and i can see that you're gonna put your heart and soul into this. and i'll give you the $65,000 for a 25% stake. and i will help you to get the price down and to manufacture this better. wow, i would have taken 50%. no. that's it.
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that's it. what do you say? say "yes" before-- yes, of course. yes! (laughing) ah! (laughing) thank you so much. we'll make it work. (laughs) thank-- thank you. you're welcome. ginelle, great job. (daymond) ginelle, you are deadly. your smile gets your husband and your tears get lori. (laughs) i'll tell you. amazing. congrats, ginelle. congratulations. thanks. (kevin) what's the difference between her and the 100,000 entrepreneurs that'll cry if you ask them how hard they've worked? lori, did you invest in her because she cried? no, it wasn't because she cried. this cannot become-- it was because she showed such extreme passion for this. i liked who she was, and i also think it's a good product, and i-- why didn't you get 51% and get control? her journey's all over the map. i am not always about taking control of things. let me run out there and fix it for you. (laughs) no, i don't want you to run out there and fix it for me. she'd love to see me. i've worked so hard for this, and now that i've got this deal, i can see what i need to do next, and i'm gonna work even harder. 'cause i'm not gonna disappoint lori.
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in season 3, we watched barbara lampugnale make a deal with lori greiner for her multi-functional nail polish,nail pak. thank you. thank you so much. let's see what they're up to now. ♪ (barbara) thanks to lori, here we are today at ulta beauty with the opportunity to have nail pak in retail stores everywhere. this is the creative team at ulta beauty. welcome to ulta beauty. this is barbara lampugnale. hello, barbara. nice to meet you. very nice to meet you. i knew we had a winner when we saw our tremendous success on qvc and online. so, we're here today to show you the nail pak, barbara's fabulous creation. we've already done 50,000 bottles and 3/4 of a million in sales. what this is, is it has nail polish on the top, and when you open this up... (woman) oh, my gosh. oh. there's pads and remover in here. my hope is that they love it. my heart's racing about a thousand miles a minute. we would love to carry nail pak in our 500 stores across the country
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and online. (laughing) goosebumps. thank you! (lori) she did an amazing job. she just went in there. she was confident. she cinched it. she did fantastic. thank you so much. you're so welcome. i feel like i should hug you. you're so welcome. wonderful. it's like an easter egg hunt. where is it? where is it? (speaks indistinctly) oh, my gosh! (gasps) (laughing) god! it looks so great! i know. you need to pinch me. i just-- (laughing) i cannot believe this is real. i can hardly believe that it was just a few short weeks ago that we were pitching to ulta, and now here we are, physically in the store with our products on the shelf. it's amazing. i can't thank you enough. oh, my god. i just can't believe this is happening. and so fast. it's crazy. i don't know where i would be without "shark tank." quite literally, it's more than just a tv show. it is sincerely something that has made my dreams come true. ♪
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it's so much more than coffee. brew the love. keurig.
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♪ (bird screeches) my name is bruce gaither. i live in sylmar, california
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with my wife and children. ♪ i've been around horses all my life. i was a professional polo player for about 30 years. but i've hung up my mallet for the time being to become a full-time dad. get set... go! now i'm a professional horse trainer. i give riding lessons as well. i have several a-list clientele, who, uh, have become my friends in the process. thank you, sir. i love working outside, and my barn is pretty much my office. but there are some drawbacks, and those drawbacks are what inspired my product. i've been working on this project for five years. we have it on store shelves, but nobody knows what it is. i'm not a marketing genius, i'm a cowboy. we need help, and investment and support from the sharks means everything to myself and everything to my family. ♪
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hello, folks. my name is bruce gaither. this is biscuit. and my company is no fly cone. i'm looking for an investment of $25,000 for a 15% stake in my company. now, you've all heard the saying, "build a better mousetrap, and the world will beat a path to your door." well, i've built a better flytrap. no fly cone is a nontoxic, cone-shaped flytrap that catches them on the inside so you don't have to see them. the cone is placed over a natural attractant, provided by biscuit. nothing works better. it's a simple solution. you take your flytrap, your no fly cone, and you set it... over a scooper. come back later, and you see how well it works. (robert) ew! (lori laughs) now, the reason i came up with this is because my office is the barn, which is haunted with flies because of the dogs and the horses. so, i designed an all-natural flytrap,
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and right away, we were successful, catching them where they feed and breed. with your investment and your connections, we can make no fly cone the trusted standard for controlling flies in no time. what questions do you have for me? how is that different than, like, a no-pest strip that you would hang? well, the strips have an external glue. well, you see the flies that they accumulate. with this, you don't see the flies until you actually look to see what you've caught. it requires dog excrement as the attractant. (robert) is that true? yes, sir. (daymond) so, the dog has to defecate outside, and you put the cap over this, and that attracts the flies. but if you clean up the dog's mess and put it away... you got it, daymond. you--you're kind of creating the problem by leaving the poop outside, aren't you? when you pick up your dog poop, there's gonna be residue on the grass, and there's residue in your scooper. does this attract other things besides flies? people catch mosquitoes with it, people catch gnats with it. ifferent uses for the trap. wh-- lot of different applications.
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seth macfarlane, baby. hey, you guys doing a tv show? no way! how are you? i'm good. i'm good. bruce, who is this guy? this is, uh, my buddy seth macfarlane. welcome, seth. how's it going? creator of "family guy" over here. (as stewie) you know, i put a lot of money into that landmark theatre business. didn't do so well. oh, stewie, come on, man! (laughter) oh, stewie! love that show. (normal voice) thank you very much. seth, you look like you're 18 years old, for god sake. you are so--oh, god, now i love it here. (lori laughs) seth, you weren't just walking by. (chuckles) so, what brings you? uh, bruce is a friend of mine. i actually take horseback riding lessons from bruce. and, you know, he--he showed me how this thing works, and, you know, it's not just flies. it's small children... (laughter) uh, bad feelings. it just--it attracts them all. it's great. yeah. seth saw me develop the trap. well, bruce, you have a very big fly rig here who can help you with this situation. (lori laughs) why--why do you need us? i ha-- i'm not allowed to do anything for abc. (laughter) if i ever write a really funny cartoon, i'm gonna hand it to seth and say, "here."
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but right now i have, like, five amazing people in front of me that can help me get this on the market. what are your sales for the last year? only 3,000 traps. seth, uh, where do you live? i-i don't like flies in my house. do you use this in your house? what's my address? i'm not gonna tell you where i live. (laughter) but do you use these in your house? yeah, i-i don't have a dog. he's your spokesman, and he doesn't even have a dog? if i did, i'd be the first guy in line. what i'm not relating to is, is that i have to have... dog excrement to make it work. (robert) this is a qvc product. i could see you on air with the little dog poop selling this. (laughter) they've sold worse crap than this. (laughter) (lori) oh, come on! oh, boo! bad! you know, bruce, i'm with biscuit on this one. he's--he's waiting for something right now. i don't know what it is. (laughter) he's-- i just have no interest in it. (robert laughs) i'm out. thank you, kevin. (as stewie) you're not a very nice man. (laughter) they told me you were not a nice man.
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(laughing) bruce, i don't have any connections in this side of the world, so i-i don't think i'm the guy to help you, so i'm out. and it's because he picked on landmark. i wouldn't never s-- thank you, mark. (normal voice) oh, wow! see? you're regretting this already. no-- so, bruce, two sharks are out. was it a good idea to bring seth or not? (laughs) well, i'll tell you, it was a lot more fun than being out here by myself, so yeah. yeah. (laughs) hey, you know, i'll tell you, the only reason i'm not out yet is because you brought seth. ugh. i, uh... (sighs) i just don't even know if i can help you even with seth. i'm out. (mouths word) well, i'm not gonna hold seth against you. this is a--such a warm, inviting place. (mark) yeah. (laughs) what love is in this room. (lori) i commend you for coming up with something. you had a problem, you created a solution, and that's great. the problem for me is, is i can't get past how it works. it's a personal turn-off. i--if it had another type of attractant, then it might be more appealing.
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well, let's go for chicken bones. chicken bones. (laughs) i'm sorry. i'm out. (robert) i got to be honest with you, bruce. i really can't add a lot of value. (imitating boris karloff) and the grinch's heart grew three sizes that night. (laughs) bruce, i'm sorry. i'm gonna be out. thank you, robert. i-i blame myself. no, no. you probably should. this was my fault. yeah, seth, we're all blaming you. you probably should, seth. this was my fault. this was a terrible idea. what a disaster. no, it was wonderful. not really. thanks for coming out. thank you, folks. thank you very much. all right, seth, pleasure, man. (robert) pleasure, guys. gentlemen and lady. come on, biscuit. (laughter) thanks for trying, buddy. i really appreciate it. i didn't--i was-- i was no help to you. it was actually a good idea. not really. so bad. at one point, there was a-a fly crawling down the side of mr. wonderful's face as he was talking, and it just kind of made its way into his mouth, and-- like the bad guy from "raiders of the lost ark," and he didn't do anything.
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he just sat there, kept talking. i don't know if it went down his throat or what. but clearly, not only does he need this thing, but i don't even think he's human. (laughs) ♪ and only mcdonald's has freshly brewed mccafe coffee, a great tasting, signature blend made with 100% arabica beans. pair it up with a scrumptious freshly made egg mcmuffin and...there's just no stopping you. mccafe coffee and your favorite breakfast. ♪ just one more reason there's something for everyone to love at mcdonald's. ♪ ba da ba ba ba ♪ never loved ♪ [ sighs ] ♪ ♪ have you ever, think ♪ ooohhhh, oh, oohh ♪ ♪ perfect work of art ♪ i knew right from the start
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♪ next into the tank is michael tseng, who believes he has the potential to make millions with his household innovation. ♪ hello, sharks. my name is michael tseng, and my product is called platetopper. i'm seeking $90,000 in exchange for 5% of my company. millions of households already use plastic containers and plastic wrap, but there are huge problems with these products. plastic lids and containers always go missing. saran wrap is an inconvenient mess. platetopper transforms your plates home into airtight food storage containers.
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here's how it works. simply grab the handle and press down. and the airtight seal is so strong... (kevin) oh. you can suspend a plate in midair. it works on circular plates, grandma's favorite china, even your kitchen counter. to release the seal, lift the pull tab, and your food is ready to serve. platetopper is microwave-safe, to prevent messy splattering and to keep food warm. and cleanup is a breeze, because platetopper is dishwasher-safe. and watch this. you can finally organize your kitchen cabinets at home, because platetoppers nest neatly for efficient storage. but wait. there's more. (laughter) sharks, if you invest right now, i'll throw in three new sizes absolutely free. (lori laughs) the platetopper mini... (kevin) wow. the platetopper tall... (kevin) ooh. (daymond) ahh! and the famous cake topper. ahh! wow! sharks, i need your help to fill massive purchase orders from two of the world's largest retailers. join me, and let's make platetopper
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into a household brand right now. sharks, here are the platetoppers. thanks, michael. absolutely. lori. thank you. wow! kevin. isn't that amazing? comes off so easy. (lori) so what are these major retailers that you're in? you might as well jump right to that. uh, the product has been on qvc since march, and it's still on, and on walmart's web site since may. so no actual retailers in the store? this has been just only on web sites? correct. this is such a good idea. thank you. it's by far the most elegant way to cover food, as opposed to covering it with a disposable... (kevin) oh, i hate that. i'm always ripping it. trash product. mike, you-- (robert) michael, how did you come up with it? i came up with the product over seven years ago when i was at home from college over holiday break. i was doing a lot of work in the kitchen and just envisioned a suction plate dome. and eventually i combined that with a microwave plate cover and created the platetopper you see today.
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so you had no engineering background or product background? well, i did just come up with the idea randomly, but i studied electrical engineering in college at princeton university. oh. a princeton guy. and then i went on to study biomedical engineering, and last year i graduated from medical school from u.c.s.f. and, mr. wonderful, feel free to call me dr. platetopper. (sharks laugh) are you a doctor, michael? i'm a doctor on paper. i'm not a practicing physician right now, because i've taken the last year off to completely dedicate myself to launching the platetopper product line. i see there's a patent there. yes. there's a utility patent here. under your best case scenario, in the next 12 months, how much can you sell? so right now, uh, purchase orders have totaled over $1 million. that's over four months. of that, i get paid wholesale $500,000. michael, i like what you're doing. okay. and i think what you need is a financier. absolutely. because, you know, when i talk about owning 5% equity in a business, i don't even get up in the morning for that.
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it's irrelevant. mm-hmm. right. so i'm not interested in your equity, but i am interested in you. i'm gonna reverse your deal. i'm gonna say, you want $90,000? you've got it. okay. pay me a 5% royalty. and you keep 100% of what you own for the big score when you sell this to a major player one day. i totally love this product. i'll even get on qvc and say it's great on my chicken. so, mike-- okay. well, thank you, mr. wonderful. thank you for that offer. it is an offer on the table, and i will consider it as i listen to other offers. excellent. great answer. what i love about you is you're very, very smart. um, you know, you're slick. also, i think a little obnoxious. wait, there's more. you're a little greedy, and i can't wait to be ur partner. what was your strategy coming here offering us 5% for $90,000? i mean, you know, obviously, that's--that's crap, right? i know th--i-- the relatively low portion of the equity is because i want to retain as much of the company as possible, obviously. all roads lead to mr. wonderful in that scenario. how many did you sell your first time on qvc? how many units? it was 6,080 single units.
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but what i'd-- what i'd like to say is on qvc, they did an initial test run with $60,000 worth of retail. (daymond) mm-hmm. a few months later, they ordered $1 million worth of retail goods. so... the same possibility exists with walmart. so i think we've established this guy's the real deal, right? (lori) here's my offer. i'd like to take the $90,000 and add a zero to it. yes. (exhales deeply) so now we're at $900,000-- offer. yes. ooh. (daymond) all right. ♪ ♪ [ male announcer ] you know that family? the one whose eye for design is apparent in every detail. whose refined taste is best characterized by the company they keep. well...say hello to the newest member of the family. the cadillac srx, awarded best interior design of any luxury brand.
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like 20% off all johns manville fiberglass insulation i'd like to take the $90,000 and add a zero to it. lori has offered michael 10 times more money than he asked for. so now we're at $900,000-- offer. yes. (robert) ooh. (daymond) all right. for 30%. i would like us to do our own infomercial rollout. mm-hmm. and i have all the connections to all of the top retailers around the world. michael, she's giving you a $3 million valuation, all right? that is a phenomenal offer, but what i'm curious is-- i know it's going to take more than $900,000. what is the financing like on the back end?
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as it's working, i'll keep funding. (daymond) here's why lori's not necessarily the right partner for you, because you already are on qvc. we're not even talking about getting on qvc, daymond. if you didn't have that... mm-hmm giving you something else that we may not be able to do... yeah. because she has an immediate-- turn the switch. mm-hmm. but... you're there. (lori) that's all fine, daymond, but he has an offer on the table right now... i know it. from me for $900,000. and he has a second one for $1 million for 25%, lori. pardon me? oh. silence. well-- he has a second offer for $1 million for 25%. bang! (lori) but he doesn't have... okay. any of the connections or the pipeline or the factories or all the things... mm-hmm. that i'm offering you. what is she-- what is she talking about? and i've offered you more, because i said we'd start with $900,000. i offered $1 million. you know, i started exactly like you. i'm just you 17 years later with all those connections. i think you know i'm the right partner for you... mm-hmm. because i know how to do exactly what you want to do. bull crap. you know, lori's great at what she does,
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but she thinks she's great at everything every one of us does. um... (laughs) don't listen to the little noise over there. (kevin) let's just look at these two offers-- $900,000 for 30%. right. $1 million for 25%. but of them, you understand, steals your equity. okay. because this is gonna be worth a fortune one day, and you gave up. michael, are you seriously considering kevin's offer? kevin, right now, based on these excellent offers on the table, i'm gonna respectfully decline your offer. (robert) thank you. you want to give up equity? bam! shut up, kevin. so right now i just want to get to the valuation. i do have a valuation in mind that's, uh, a little bit different than the one i stated initially. my product-- it's gone from $60,000 to $1 million in retail sales in a few months. and it's been proven on qvc-- yes, but there's 4,000 other products that went to zero. i'm just saying, there's obviously utility for every single household in america that has circular plates. but i'll tell you one-- let him finish. let him finish. i'm saying that my valuation-- i want it to reflect the potential.
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are you gonna put a number out there, mike? yeah, but, mike, because-- michael, you were gonna get to a number, weren't you? i-i'm saying these other products grow to $100 million products. okay. guys-- (robert) no, but, michael, you must have a number in mind. what's your number? i'm getting irritated. it's a little slippery to me, the way you're acting. s-- 'cause, listen, you got a number, man. yeah. let's not play games. daymond, i'm--i'm honestly not trying to be slick or sly-- just get to the number, man. say it then. i'm not trying to be slick or sly. i'm just letting everybody field their offer before-- okay, you have one offer for $900,000. before i-- just say the number, man. if i were a used car salesman, i wouldn't say, "here's the lowest i'll go." i would negotiate. michael, i don't disagree with your strategy. i'm not being-- i'm not trying to be negative. if i know one thing, it's to say less than it is to say more. so i am not gonna disclose what my magic number is. all right, mike, you know what? you're starting to rub me the wrong way. i'm out. (robert) whoa! whoa! it's a slick willie thing. you know, dancing around-- "well, maybe. hold on. i'm say--" so, daym-- i-i'm out. you don't need to speak to me anymore. i-- (kevin) well, that's interesting, mike.
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so i'll speak to mr. wonderful, and may--and daymond might overhear me. so i really appreciated daymond's offer of $1 million for 25%. listen. my gut feeling is saying this would not be a great partnership for you and i. hmm. because i practice business another way, all right? okay. so i should shut up, because i'm not in this anymore. uh, so--uh, daymond, i'm-- (kevin) y-you know why you're running into trouble here? you came with a valuation of $1.8 million. yeah. and then you're not honoring it anymore. (robert) he's negotiating. i-i'm field-- i'm fielding these offers. (kevin) you have three sharks left. you have reduced your probability of success by at least two out of five. you better get focused on the other sharks that are still in the deal. i want to hear from the other sharks. and, lori, i-- your offer's great, so we're gonna talk about it. you know, i'm gonna step back. are you taking your offer off the table, lori? i'm curious just to say, what if i rolled it back? what if i went back to the $90,000
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for the 5% as you walked in? seems to me like you're more comfortable with that. so, michael, let me tell you what's happening now. you had an offer. (laughing) no, it's nothing to laugh about, my friend. okay. you're losing offers. you're losing money. mm-hmm. yeah. you're losing! when are you gonna shut up and take an offer? (robert) here's where i'm at. for me, the risk is the product doesn't sell. (snaps fingers) $1 million gone. (snaps fingers) $500,000 gone. all of a sudden, you're into negative cash. that's my worry. are you gonna make an offer, robert? michael, i-i can't help you with the retail part. okay. um... uh, so, in terms-- before you--before-- i'm out. you do realize you haven't even given the remaining two sharks your valuation yet? i mean, at this point, you gotta stop playing the games. what is the number? i-i'm simply waiting for offers to be on the table.
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all right. i'm gonna go to the bathroom, man... if you keep waiting... or something, you know? they keep getting smaller. that's what's actually happening here. you only have two sharks left. i'm gonna-- i'll give--i'll put out-- i'll throw out a number. you guys have pushed me. okay. um, i'll--i'll describe the offer that i was originally going to make, which was $750,000 in exchange for 5% of the company. here we go with this crap. and that's a valuation of $15 million. wait a minute. you asked for $90,000 for 5%. now you've changed it to $750,000? i haven't changed it. i've said that was what i was originally gonna come into the tank with. why did you come in with $90,000 for 5%? switch and bait. why are you doing that? why? i'm not-- we actually may watch a guy with a fantastic business walk out of here with nothing pretty soon. potentially the best product we've ever seen. ♪
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wow. we actually may watch a guy with a fantastic business walk out of here with nothing pretty soon. potentially the best product we've ever seen. (mark) let me ask a simple question. what is the value to you for a line of credit in the event your projections are met? (sighs and clicks tongue) i would need to call-- can i call my person? sure. let him make his phone call. really? yes. yeah. time is money. go ahead. just make it quick. (exhales deeply) guys, you wanna deal with this guy every day? no. i wouldn't deal with this guy. he went from $90,000 for 5% to $750,000 for 5%. you're telling me he's accurate? well, i don't know if he's accurate, but there's definitely something there. (cell phone chimes) (man) hey, mike. can you talk to one of your c.e.o.s? can you pull them into your office right now to help me with this sort of valuation? sure, yeah. one second. he's playing a ridiculous game. no, he's just precise. it's definitely something there, but don't lie. i mean, this is when he's in his best behavior. imagine when he's a partner. they're essentially saying, "look, you're gonna need "money in the future in order to finance,
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what if they were to give me a $10 million line of credit? essentially, how much equity would i give them in return? he came in and made a strategic decision that he would give up a small portion of equity for a small amount of money in order to get the relationship. i throw guys like this out of my office. i throw them out of the window. like, this is just ridiculous. this is-- this is ridiculous. (under breath) okay. okay, michael, what's happened here in the "shark tank" is rather remarkable. you had a $900,000 offer for 30%. that evaporated down to $90,000 for 5%. so you talked your way out of that one nicely. daymond offered you $1 million, and it went to zero, because you meandered around here like a shark that has no direction. so i think, at the end of the day, if you keep working this hard, you'll leave with nothing. i was gonna offer him $1 million, too, and he talked himself out of that. (kevin) wow.
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i think you better get focused, because now you have two sharks left. mr. cuban hasn't spoken what he wants to do. right. lori has actually diminished her offer dramatically 'cause she got tired of listening to you. (laughs) that's not why. i think it's true. you went back and talked to somebody. what are you coming back to tell us? uh, so i went and talked to my younger brother and got his c.e.o. to speak to me about the value of, uh, a line of credit. $10 million is a number that we discussed. but what amount of cash do you want today for what percentage? m-more what i want is based on the valuation. so the-- so you'll take $90,000-- what's the-- let him talk. let him talk. let him talk. the valuation is $15 million. so $1.5 million for 10% of the company, for example. okay. there's what you really wanted to come in and ask for today. okay. i just want to make sure you guys are clear. he wants a $15 million valuation. okay, i'm out again. (mark) it took a lot of work to get you to that valuation. $15 million, even with knowing that there's a floor
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of $1 million in purchase orders, is too high for a consumer goods product. okay. so for that reason, i'm out. uh, is there-- whoa. wow. wait, wait. so what's the value that you have in mind for the company right now? nowhere near $15 million, because-- i know. i'm happy to hear what it is, though. (robert) michael. it doesn't matter, michael. i don't want-- michael, he's out. lori's still in. i'm--i'm still-- michael, what i tried to do-- i'm still willing to negotiate. i understand, michael, but we did negotiate. i gave you the benefit of the doubt, and we went through a whole dance, a whole negotiation. right. and with that still, you came to $15 million. we were talking about details that, to me, are--are very important for structuring the deal, but we weren't talking numbers, and i-- but the most important detail now is he's out. so talk to lori. i was just-- i was just waiting-- i thought you were gonna make an offer, and i was just biding time. and you were wrong, michael. you were wrong. you're best to talk to lori. so, the-- mark, the one thing i have for you is that the-- you're best to talk to lori, man. there are 15-- michael, what are you doing? (indistinct arguing) the guy said he was out.
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(daymond) you have one last person to talk to. please. you have--you have done a remarkable thing. you have convinced everybody to rescind their offer because you can't seem to make a decision. i do seem to be the only one left here. so you have your moment now to convince me why i should stay with you, when you didn't realize that... mm-hmm. right. i was the right one for you. my initial strategy was simply to field all the offers, and i think because we got so caught up in those discussions, that i wasn't able to ask you all the questions that i wanted to originally. michael, what are you doing with lori's offer? so what i'm asking from you is, in an "as seen on tv" campaign, it requires buying inventory before those purchase orders are in place. no, actually, it doesn't. but that's why i was the right partner, because i told you i know all about what you need. but still, the valuation... i'm not pleased with. well, if we went back to your original $90,000 for 5%... mm-hmm? what if i were to give you $9000 for 10%?
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all of it's here for you. it's all here. mm-hmm. perfectly. like, tied up in a bow. i just tuned out for a little bit because-- you tuned out?! (daymond) he tuned you out, lori, for a little bit. (laughs) i just thought--i mean, you're obviously the shark and trying to take advantage of the situation-- (daymond) no, you're not. no, i'm not trying to take advantage. he just said he tuned you out. that's--no-- not in a-- not in a disrespectful way. well, you-- just a breather-- yeah, take a breath. take a breath. ask yourself-- michael, how do you say something like that respectfully? i-- ask yourself-- how is it going in the "shark tank" for you right now? (laughs) how's it going, buddy? uh, far more intense than i anticipated. (robert) michael, you've played this game for a long time now. you know, you've been disrespectful to lori. she's made you an offer. what are you going to do? uh, i'd like to make a counteroffer. why don't you talk to her? all right. absolutely. okay. lori, so, uh, i would like to sign an agreement for a 5% equity stake. so, if any of the sharks would like to re-enter
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and make a simple cash offer for a 5% equity stake so we can be-- the $90,000 at 5%? so--no. i-i'm saying, who will bid the highest? (scoffs) michael, it doesn't work that way! (daymond) you are playing games. it doesn't work that way! none of us are interested except for lori. are you gonna take her offer or not? michael, i'm giving you a lifeline for the next--literally-- two seconds. this is the last thing i'm gonna offer you. $90,000, 8%. take it or leave it. (exhales deeply) (exhales deeply) time to make a decision, michael. (clears throat) (lori) you should know in your gut. i-i'll do it. you got a deal. you got a deal. all right. good. wow. yeah, finally! (all speaking at once) thank you. i'm really--
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i am really happy to have a deal done. all right, good. good to hear. congratulations, michael. all right. michael. thanks, guys. thank you. thank you. bye. i got a deal. (groans) i'm shocked you stayed in it. you know, i like the product, guys. i can't stand him. platetopper bozo. (lori) i did what i wanted to do. it's a good product. (singsongy) i'm gonna make it a hero!
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who was missing police found him just one county away. cheryl connor joins us with the latest. >> reporter: he was found at a friend's home in laurel. policesay they tried several times to find arthur spicer but had no luck until his mug shot was in the news. arthur spicer is one of 104
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registered sex offenders in howard county, but he's the only one the police could not locate during a recent check up. >> there are so many children in this neighborhood so it's scary from that aspect. i alsohave living with me. >> reporter: just before 2:00 monday afternoon, the police put out a media alert about spicer. we knocked on the door at his last known address, but no answer. about six hours later, he was found at a friend's home in prince george's county. . >> this is the time of year that worries us especially approaching halloween. >> 367-year old spicer was convicted 16 years ago in michigan for third degree sexual misconduct. police here don't know the
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exact offense, but they can say it wasn't rape. still,the incident has left parents worried abwho's -- about who's living nks door -- next door. arthur spicer was arrested for not complying with the details of being a registered sex offender. thursday at 11:00, an abc2 news investigation uncovers flaws in the state registry that allows some to go living on the streets. new tonight, a wanted sex offend who crossed the border from canada is now back behind bars. police in vie yacht l arrested
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him. seattle arrestedhim. . >> reporter: he's a violent sex offender with a long history of targeting women and children in canada but when michael shawn's stanley cut off his monitor and slipped intloo the u.s., the police did not arrest him saying he did not commit a crime here. now, he's accused of sexually assaulting a 16-year old boy tuesday morning. >> it's scary. >> reporter: police say it began with reports of screaming. anintoxicated man with a knife threatening to hurt neighbors. >> if you have a gun, come get me. >> reporter: further investigation revealed the man was stanley. the allegedteenage victim telling investigators that the man lured him into an alley,
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gave him alcohol and sexually assaulted him. he reportedly pul pulled a knife on stanley before fleeing. police ordered stanley to register as a sex offender but maintained there was nothing they could do until he assaulted the teen. stanley was convicted of assaulting two young boys. now he's finally behind bars after weeks on the run. a montgomery county mother is asking tough questions while her daughter is in critical conditions. police say she accidentally ran over her seven-year old daughter in the family's driveway. police saythe car was


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