ENTERPRENEURS: James Martin
PITCH: Copa Di Vino, America's first premium wine by the glass.
ASKING FOR: $600k for a 20% stake.
BEST PART OF THE PITCH: James shows the sharks individually-packaged wine glasses that have the interest of retailers everywhere. He has a winery that makes about 2,500 cases of wine per year and has sold product into 26 states. The company has three different revenue streams. James can license and collect royalties. He can bottle for an industry. And he can launch his own brand. Regarding that last point, he's had over half million dollars in sales in five months. There's also been over $800,000 in orders. James is also negotiating multi-million dollar deals with large wine companies.
DO THE SHARKS BITE? Daymond believes it's just too early in the game for him to invest. He's out. Robert, Barbara and Mark also bail. Kevin O. believes the packaging is the key here. The idea of separating the intellectual property from the wine business is broached. Kevin offers $600k for a 51% stake of the patent. James believes the opportunity is far greater than what he's offering. He wants three million bucks. Kevin says forget it. And on that note, James raises a glass of wine and says "cheers" to them all.