ENTREPRENEURS: Rabbi Moshe Weiss
PITCH: SoundBender
ASKING FOR: $54k for a 26% stake
BEST PART OF THE PITCH: As a rabbi, Moshe is always looking for ways to help others make their "oy vey" go away. He's created a magnetic, power-free sound amplifier for the iPad. It costs about a dollar to make without packaging. He sells it for $12.99. Moshe has sold 7,000 units online over the past six months. He has high interest from Walgreens.
DO THE SHARKS BITE? Kevin wonders if he'd be interested to license the product so they can produce it even cheaper in foreign lands. The rabbi is not willing to do that, so Kevin is out. Mark believes it's a nice business, but doesn't see it getting all that big. He's out. Barbara wants guarantee that she'll get her money back, but the rabbi isn't willing to go the royalty route. She's out. Daymond wants 40% of the company but it is contingent on the Walgreens deal. Robert fears this will take up too much of his time, but still makes the same offer as Daymond, but without the Walgreens contingency.
Update: Cousins Maine Lobster
Jim Tselikis & Sabin Lomac struck a deal with Barbara regarding their lobster food truck company. Since their appearance in the tank, they open up a huge distribution center to ship fresh Maine products all over the country overnight. They've done $700k in sales in just a few months. Barbara joins the guys for a visit to the governor's home in Maine to receive a certificate recognizing their accomplishments in creating jobs and helping the local economy.