ENTREPRENEUR: Scott Duff & Carlos Ortiz
PITCH: My Cold Snap
ASKING FOR: $50k and a 12% royalty for a 100% stake
BEST PART OF THE PITCH: Scott and Carlos have created a product that they claim is the only ice chest that fits in your hand. It holds a can that keeps a drink cold from the first sip to the last. They have $250k in sales in the promotional products industry in a deal that is now over. They have $20,000 units sitting in inventory. They've had a long period of activity when they put the product on hold.
DO THE SHARKS BITE? Barbara feels like the guys have taken a cold body out of storage and they want her to bring it back to life. She's out. Robert also has a problem with the fact that the business died years ago. He's out. Kevin doesn't think he can make any money from the product. He's out. Daymond believes that these guys are offering a hundred percent of their company because they want him to work for them. He's out. Mark doesn't like the product and he doesn't want to help it. He's out, too. My Cold Snap got a very cold reception from the sharks.