1 00:00:00,000 --> 00:00:00,240 We'll see 2 00:00:00,240 --> 00:00:00,440 We'll see you 3 00:00:01,000 --> 00:00:03,120 SARAH HARRIS: Tonight... 4 00:00:03,120 --> 00:00:06,320 MAN: The Tiny Science Lab. 5 00:00:06,320 --> 00:00:07,360 ..tiny pitches... 6 00:00:07,360 --> 00:00:09,760 I'm not being flippant here. 7 00:00:09,760 --> 00:00:13,160 (LAUGHS) How do you value a newborn baby? 8 00:00:13,160 --> 00:00:15,160 (SHRIEKS) I don't know! How?! 9 00:00:15,160 --> 00:00:16,880 ..come with big personalities... 10 00:00:16,880 --> 00:00:19,200 And it's even used by the Kardashians. 11 00:00:19,200 --> 00:00:20,560 Ch-ching. 12 00:00:20,560 --> 00:00:21,840 ..revolutionary new products... 13 00:00:21,840 --> 00:00:24,360 Be able to create a moat of water around our roof. 14 00:00:24,360 --> 00:00:25,880 (GASPS) Whoa! 15 00:00:25,880 --> 00:00:29,040 ..and a fresh take on an old favourite. 16 00:00:29,040 --> 00:00:30,800 Oh, wow. Oh, that is so nice. 17 00:00:30,800 --> 00:00:32,080 Mmm! 18 00:00:32,080 --> 00:00:33,080 Interrogation... 19 00:00:33,080 --> 00:00:36,840 I give you 200,000, but you need 1.8 million. 20 00:00:36,840 --> 00:00:39,000 ..leads to rough seas. 21 00:00:39,000 --> 00:00:40,920 You're valuing this at $5 million. 22 00:00:40,920 --> 00:00:42,640 No, $10 million. 23 00:00:42,640 --> 00:00:44,760 ..while the Sharks circle. 24 00:00:44,760 --> 00:00:47,520 I want in on this business. Show me the money! 25 00:00:47,520 --> 00:00:50,600 Yeah, look, I would also make an incredible partner. 26 00:00:50,600 --> 00:00:52,160 Oh, the Sharks are hungry! 27 00:00:52,160 --> 00:00:55,120 Robbo, would you consider cutting me in on this deal? 28 00:00:56,160 --> 00:00:57,800 No. 29 00:00:57,800 --> 00:00:59,800 (THEME MUSIC) 30 00:01:35,040 --> 00:01:38,800 First up are Sarah Forrai and Lewis Battersby 31 00:01:38,800 --> 00:01:40,400 from New South Wales 32 00:01:40,400 --> 00:01:44,360 whose product has taken the beauty world by storm. 33 00:01:44,360 --> 00:01:47,720 It's not often that a world first gets to the market, 34 00:01:47,720 --> 00:01:50,560 so they'd best get in now before someone else does. 35 00:01:50,560 --> 00:01:52,120 Yep. 36 00:01:55,120 --> 00:01:58,640 We're feeling really confident today, but also very nervous. 37 00:02:12,960 --> 00:02:15,760 Hi, Sharks. I'm Sarah. And I'm Lewis. 38 00:02:15,760 --> 00:02:18,680 And we're seeking $250,000 39 00:02:18,680 --> 00:02:20,680 for 10% equity in our company. 40 00:02:20,680 --> 00:02:22,120 Wow. Mm. 41 00:02:22,120 --> 00:02:23,360 Sharks, believe it or not, 42 00:02:23,360 --> 00:02:26,840 you're looking at one of the most viral skincare products on TikTok 43 00:02:26,840 --> 00:02:29,120 with over 200 million views... 44 00:02:29,120 --> 00:02:30,560 Wow. 45 00:02:30,560 --> 00:02:32,160 ..and it was designed right here in Australia 46 00:02:32,160 --> 00:02:34,680 with the help of our trusty 3D printer. 47 00:02:34,680 --> 00:02:38,680 It's called Contour Cube, the world's first ice facial tool 48 00:02:38,680 --> 00:02:41,000 that makes facial icing fuss free. 49 00:02:41,000 --> 00:02:44,480 It all started when my mum introduced me to ice facials, 50 00:02:44,480 --> 00:02:47,000 but we both struggled using ice cubes, 51 00:02:47,000 --> 00:02:48,360 which were slippery and messy, 52 00:02:48,360 --> 00:02:52,320 so I looked everywhere for a tool that would easily grip the ice, 53 00:02:52,320 --> 00:02:55,160 fit the contours of my face without freezing my fingers off, 54 00:02:55,160 --> 00:02:57,240 but I couldn't find anything anywhere, 55 00:02:57,240 --> 00:02:58,800 and that's when it hit me - 56 00:02:58,800 --> 00:03:01,000 why not design it myself? 57 00:03:01,000 --> 00:03:02,120 Let me show you. 58 00:03:02,120 --> 00:03:04,200 Simply fill it through the heart-shaped hole, 59 00:03:04,200 --> 00:03:09,960 pop it in the freezer and you've got the perfect ice facial tool. 60 00:03:09,960 --> 00:03:13,160 LEWIS: Contour Cube is also great for post-workout redness, 61 00:03:13,160 --> 00:03:16,720 to soothe sore muscles, reduce anxiety, migraines 62 00:03:16,720 --> 00:03:18,920 and for cosmetic aftercare. 63 00:03:18,920 --> 00:03:22,680 Contour Cube has created a brand-new category in the beauty market 64 00:03:22,680 --> 00:03:25,000 and is used by 70,000 people around the world... 65 00:03:25,000 --> 00:03:26,000 Oof. 66 00:03:26,000 --> 00:03:28,440 ..and stocked in major retailers around the globe. 67 00:03:28,440 --> 00:03:30,280 And it's even used by the Kardashians. 68 00:03:30,280 --> 00:03:33,720 So, Sharks, don't let this deal slip through your fins. 69 00:03:33,720 --> 00:03:37,920 Who wants to chill with us and revolutionise the beauty industry? 70 00:03:37,920 --> 00:03:39,920 How did the Kardashians pick it up? 71 00:03:39,920 --> 00:03:42,680 It was an organic post, so... 72 00:03:42,680 --> 00:03:45,120 Wow. Which Kardashian? 73 00:03:45,120 --> 00:03:47,640 It was Kendall Jenner. Oh, wow! 74 00:03:47,640 --> 00:03:49,200 And what did she do with it? 75 00:03:49,200 --> 00:03:51,120 So, she posted on her social media just saying, 76 00:03:51,120 --> 00:03:53,400 "I love this for my morning ice facials." 77 00:03:53,400 --> 00:03:56,120 Come on! Was it a gift box? 78 00:03:56,120 --> 00:03:57,960 No, no PR. She bought it? 79 00:03:57,960 --> 00:03:59,320 She bought it, yeah. (GASPS) 80 00:03:59,320 --> 00:04:01,120 So, we woke up in the morning... Guys! 81 00:04:01,120 --> 00:04:02,960 ..Sarah had all these messages from her friends saying, 82 00:04:02,960 --> 00:04:04,840 "Oh, my God, you need to check Instagram now." 83 00:04:04,840 --> 00:04:06,160 That's incredible. 84 00:04:06,160 --> 00:04:08,280 So, Kendall's mom is a good friend of mine. 85 00:04:08,280 --> 00:04:10,520 She used to be my neighbour in California. 86 00:04:10,520 --> 00:04:11,520 Oh, wow! 87 00:04:11,520 --> 00:04:17,240 When that family picks up a product, it just goes boom, as you know. 88 00:04:17,240 --> 00:04:19,320 Yeah, it was, like, a huge milestone for us 89 00:04:19,320 --> 00:04:21,160 for her to even post about it. 90 00:04:21,160 --> 00:04:22,240 Can we try it? 91 00:04:22,240 --> 00:04:24,280 Absolutely. We'd love to hand some out. 92 00:04:24,280 --> 00:04:25,640 SARAH HARRIS: With the Sharks struck 93 00:04:25,640 --> 00:04:27,160 by the star power 94 00:04:27,160 --> 00:04:28,960 of the Contour Cube, 95 00:04:28,960 --> 00:04:33,440 will they be as impressed by the product itself? 96 00:04:33,440 --> 00:04:34,760 OK. Ooh, it's cold! 97 00:04:34,760 --> 00:04:36,320 Oh, it's cold. It is cold. 98 00:04:36,320 --> 00:04:38,040 So, Sarah... Mm-hm? 99 00:04:38,040 --> 00:04:39,240 ..excuse my ignorance. 100 00:04:39,240 --> 00:04:43,080 I'm sure Jane knows this right away, but what do I do with it? 101 00:04:43,080 --> 00:04:46,040 So, you essentially would just take off the lid. 102 00:04:46,040 --> 00:04:48,240 There's a little nub at the back. Oh, got it. 103 00:04:48,240 --> 00:04:50,840 So, you want to continuously move the ice along your face. 104 00:04:50,840 --> 00:04:53,000 Ooh, it's good! Yeah. 105 00:04:53,000 --> 00:04:55,320 Wow, it really works! LEWIS: Yeah, it does. 106 00:04:55,320 --> 00:04:56,800 Seriously, it's so calming. 107 00:04:58,320 --> 00:04:59,920 When did this launch? 108 00:04:59,920 --> 00:05:02,080 We actually launched the product on TikTok, 109 00:05:02,080 --> 00:05:04,880 so mid-pandemic, and it blew up. 110 00:05:04,880 --> 00:05:07,920 Our first video hit over a million views in 24 hours. 111 00:05:07,920 --> 00:05:09,000 Wow! 112 00:05:09,000 --> 00:05:11,640 Sarah, I swear I've seen this product before. 113 00:05:11,640 --> 00:05:13,320 Like, it's been done. 114 00:05:13,320 --> 00:05:15,400 And I think I've seen your TikTok videos 115 00:05:15,400 --> 00:05:17,000 and that's why I think I've seen it. 116 00:05:17,000 --> 00:05:18,560 Yeah, 100%. That's amazing. 117 00:05:18,560 --> 00:05:19,960 Yeah. 118 00:05:19,960 --> 00:05:23,360 I'd love to hear more about the competitive landscape 119 00:05:23,360 --> 00:05:25,800 and what's unique about your product 120 00:05:25,800 --> 00:05:28,720 and what's the most similar product out there. 121 00:05:28,720 --> 00:05:31,480 Well, Contour Cube is the world's first ice facial tool, 122 00:05:31,480 --> 00:05:34,400 so there's no tools out there for the purpose of facial application. 123 00:05:34,400 --> 00:05:37,280 So, other tools don't stay cold for long enough 124 00:05:37,280 --> 00:05:38,520 and that's what our customers love. 125 00:05:38,520 --> 00:05:40,600 It stays cold the entire time you're icing your skin. 126 00:05:40,600 --> 00:05:42,800 You're talking about the rollers and stuff. 127 00:05:42,800 --> 00:05:44,800 Yeah, like metal rollers. 128 00:05:44,800 --> 00:05:48,320 But there's no other one where you can fill it up yourself? 129 00:05:48,320 --> 00:05:50,560 Are there gonna be lots of competitors? 130 00:05:50,560 --> 00:05:52,440 Yeah, how easy is it to copy? 131 00:05:52,440 --> 00:05:54,920 Yeah, how are you protecting yourself? 132 00:05:54,920 --> 00:05:56,400 We do have trademarks globally. 133 00:05:56,400 --> 00:05:58,680 We've got design registrations in place 134 00:05:58,680 --> 00:06:00,120 and also a patent pending. 135 00:06:01,440 --> 00:06:03,080 We're first to market, first to mind. 136 00:06:03,080 --> 00:06:04,600 That's how you're gonna protect it. 137 00:06:04,600 --> 00:06:05,640 You've just gotta go... 100%. 138 00:06:05,640 --> 00:06:07,720 You've gotta keep running as fast as you're going. 139 00:06:07,720 --> 00:06:11,720 SARAH HARRIS: First to market and with product protection to boot, 140 00:06:11,720 --> 00:06:16,320 will their sales leave Sarah and Lewis pitch perfect? 141 00:06:16,320 --> 00:06:17,400 What does it cost? 142 00:06:17,400 --> 00:06:20,360 The mini in your hand, that's $29.95. That's RRP. 143 00:06:20,360 --> 00:06:23,120 It costs $3.90... Wow! 144 00:06:23,120 --> 00:06:24,480 ..and we wholesale it for $14. 145 00:06:24,480 --> 00:06:26,560 Ch-ching! Where are you stocked? 146 00:06:26,560 --> 00:06:31,160 So, this year, we stocked in 450 Priceline stores across Australia. 147 00:06:31,160 --> 00:06:32,600 Oh, well done! Wow! 148 00:06:32,600 --> 00:06:35,680 We're also stocked on THE ICONIC and Woolies's Everyday Market 149 00:06:35,680 --> 00:06:37,920 and we're also stocked in Chemist Warehouse New Zealand 150 00:06:37,920 --> 00:06:38,960 in all their stores. 151 00:06:38,960 --> 00:06:42,240 Congrats. Talk me through your sales since you've started. 152 00:06:42,240 --> 00:06:44,040 Yeah, so sales since we've started, 153 00:06:44,040 --> 00:06:46,360 we've done $1.6 million in lifetime sales. 154 00:06:46,360 --> 00:06:47,360 Wow. 155 00:06:47,360 --> 00:06:51,160 Year one, we did $54,000 in just four months. 156 00:06:51,160 --> 00:06:54,360 Year two, we did $260,000, 157 00:06:54,360 --> 00:06:58,040 and then year three, we've done $1.3 million to date. 158 00:06:58,040 --> 00:07:00,560 So, we're growing 400% year on year. 159 00:07:00,560 --> 00:07:01,800 Hm. 160 00:07:03,760 --> 00:07:06,120 Your 1.6 million that you've got in sales... 161 00:07:06,120 --> 00:07:08,000 Yes. How have you generated that? 162 00:07:08,000 --> 00:07:09,200 $1.6 is lifetime, 163 00:07:09,200 --> 00:07:12,680 so $500,000, that would be through our wholesale partnerships, 164 00:07:12,680 --> 00:07:14,720 and the remaining from direct to consumer through our website. 165 00:07:14,720 --> 00:07:16,920 And is it all organic? Have you done any paid ads? 166 00:07:16,920 --> 00:07:18,560 So, we have gone into paid advertising. 167 00:07:18,560 --> 00:07:22,240 In year two, we spent $80,000 in paid advertising 168 00:07:22,240 --> 00:07:25,040 and in just this year to date, we've spent around $200,000. 169 00:07:25,040 --> 00:07:26,040 Yep. 170 00:07:26,040 --> 00:07:28,800 So, lifetime in ad spend is $280,000. 171 00:07:28,800 --> 00:07:30,680 Well done. 172 00:07:33,160 --> 00:07:36,680 SARAH HARRIS: Have Sarah and Lewis been able to reel the Sharks in 173 00:07:36,680 --> 00:07:41,000 and secure a $250,000 investment 174 00:07:41,000 --> 00:07:45,480 for a 10% share in their Contour Cube business? 175 00:07:48,040 --> 00:07:51,360 Great entrepreneurs, beautiful design, 176 00:07:51,360 --> 00:07:57,560 great online presence, Kardashians, incredible smile. 177 00:07:57,560 --> 00:08:00,160 I want in on this business. I'll make you an offer. 178 00:08:02,720 --> 00:08:06,000 I'll give you 250,000 for 20%. 179 00:08:06,000 --> 00:08:09,000 OK, thank you for that offer. Very generous offer. 180 00:08:09,000 --> 00:08:10,280 (CHUCKLES) 181 00:08:10,280 --> 00:08:11,760 DAVIE: I'll jump in. 182 00:08:11,760 --> 00:08:16,760 This product is amazing. I think you guys are amazing. 183 00:08:16,760 --> 00:08:20,320 I know what I can do with it online as well and support you there. 184 00:08:20,320 --> 00:08:25,200 I'm gonna make the same offer as Robert of 250,000, 185 00:08:25,200 --> 00:08:27,000 but I'd like 20%. 186 00:08:27,000 --> 00:08:30,800 With two Sharks already hooked, 187 00:08:30,800 --> 00:08:33,080 will any more share the bite? 188 00:08:34,800 --> 00:08:38,400 Yeah, look, I would also make an incredible partner. 189 00:08:38,400 --> 00:08:39,680 I will match their offers. 190 00:08:40,800 --> 00:08:43,440 Oh, the Sharks are hungry! (LAUGHS) 191 00:08:43,440 --> 00:08:46,480 Guys, I love you, so I'm gonna match their offer. 192 00:08:48,120 --> 00:08:49,840 OK. (CHUCKLES) OK. Thank you. 193 00:08:49,840 --> 00:08:52,920 SARAH HARRIS: As the feeding frenzy takes hold in the Tank, 194 00:08:52,920 --> 00:08:57,520 will Sarah and Lewis reel in five from five Sharks? 195 00:08:57,520 --> 00:09:00,200 I love you guys, and it's an extraordinary story, 196 00:09:00,200 --> 00:09:02,440 a beautiful product. 197 00:09:02,440 --> 00:09:06,400 I am a high-tech entrepreneur and for almost every other product, 198 00:09:06,400 --> 00:09:08,240 I can apply AI to it. 199 00:09:08,240 --> 00:09:09,640 And you know what? 200 00:09:10,960 --> 00:09:13,400 Don't think I can this time. 201 00:09:14,800 --> 00:09:17,320 So, I'm out. 202 00:09:20,160 --> 00:09:23,120 Look, I'm genuinely super excited. 203 00:09:23,120 --> 00:09:26,440 I've never gone in this fast. I would love to go in with you guys. 204 00:09:26,440 --> 00:09:27,600 JANE: Yeah. 205 00:09:30,120 --> 00:09:31,680 Need more equity, though. 206 00:09:31,680 --> 00:09:34,880 JANE AND ROBERT: Ooh! 5% each is not enough. 207 00:09:34,880 --> 00:09:36,600 5%. Yeah, you wanted to do more. 208 00:09:36,600 --> 00:09:39,640 Davie, how much equity should we ask for for all four Sharks? 209 00:09:39,640 --> 00:09:41,680 Whoa! Think of the branding! 210 00:09:43,200 --> 00:09:46,640 At least 7.5% each. 30%? 211 00:09:46,640 --> 00:09:48,720 30%. We can keep the same valuation. 212 00:09:48,720 --> 00:09:49,720 So, wait, sorry. 213 00:09:49,720 --> 00:09:53,080 We were saying 250 for 20% and now we're going up to 30%? 214 00:09:53,080 --> 00:09:56,760 Now we're going to 30%. So, 375. 215 00:09:59,040 --> 00:10:04,480 375,000 for 30% with four Sharks. 216 00:10:04,480 --> 00:10:07,000 Let me say it again. Four Sharks. 217 00:10:07,000 --> 00:10:08,280 Four Sharks. 218 00:10:09,560 --> 00:10:11,880 SARAH HARRIS: Sarah and Lewis entered the Tank 219 00:10:11,880 --> 00:10:15,520 hoping to share 10% equity in their business, 220 00:10:15,520 --> 00:10:17,920 but four Sharks means 221 00:10:17,920 --> 00:10:22,200 four times the business expertise and opportunity. 222 00:10:22,200 --> 00:10:25,840 Robert could help them break into the American retail market, 223 00:10:25,840 --> 00:10:31,520 Jane's Showpo online fashion empire could instantly expand their sales, 224 00:10:31,520 --> 00:10:35,720 Davie's ability to identify trends and take them global 225 00:10:35,720 --> 00:10:38,560 could help them expand their product line, 226 00:10:38,560 --> 00:10:40,720 and Sabri's marketing agency 227 00:10:40,720 --> 00:10:45,920 could ensure Contour Cube is the brand name on everyone's lips. 228 00:10:45,920 --> 00:10:49,160 (SUSPENSEFUL MUSIC) 229 00:10:55,880 --> 00:10:57,040 OK, we'll do it. 230 00:10:57,040 --> 00:10:58,600 (SHARKS CHEER) 231 00:10:58,600 --> 00:11:00,640 SABRI: You guys are great! 232 00:11:00,640 --> 00:11:02,360 Great work. 233 00:11:02,360 --> 00:11:04,680 Seriously, you guys are phenomenal. Nice to meet you. 234 00:11:04,680 --> 00:11:07,760 JANE: Oh, it's so exciting. Good luck, guys. 235 00:11:07,760 --> 00:11:09,480 Alright, everyone put your hand in. 236 00:11:09,480 --> 00:11:10,920 Contour Cube! 237 00:11:10,920 --> 00:11:12,280 (ALL CHEER) 238 00:11:12,280 --> 00:11:14,440 (ROBERT LAUGHS) LEWIS: Amazing. 239 00:11:14,440 --> 00:11:15,440 Great work. Thank you. 240 00:11:15,440 --> 00:11:17,040 That was amazing. SARAH: Thank you so much. 241 00:11:18,080 --> 00:11:19,160 We'll see you soon. 242 00:11:19,160 --> 00:11:21,800 SARAH HARRIS: After an exciting feeding frenzy, 243 00:11:21,800 --> 00:11:27,320 Sarah and Lewis have walked away with four Sharks in tow 244 00:11:27,320 --> 00:11:31,840 and $375,000 245 00:11:31,840 --> 00:11:33,800 for 30% equity 246 00:11:33,800 --> 00:11:35,960 of their viral beauty product, 247 00:11:35,960 --> 00:11:37,680 the Contour Cube. 248 00:11:37,680 --> 00:11:39,320 It's just literally a perfect storm. Yeah. 249 00:11:39,320 --> 00:11:41,520 This is gonna be, like, a hundred million dollar business now. 250 00:11:41,520 --> 00:11:42,520 100%. It's crazy. 251 00:11:42,520 --> 00:11:44,040 With those four, it's gonna be mad. 252 00:11:44,040 --> 00:11:46,440 Man, this is stunning. 253 00:11:46,440 --> 00:11:48,040 We might even get all of the Kardashians 254 00:11:48,040 --> 00:11:49,600 to have a Contour Cube now. 255 00:11:56,040 --> 00:11:59,520 (SUSPENSEFUL MUSIC) 256 00:11:59,520 --> 00:12:01,240 Are you getting nervous yet? 257 00:12:01,240 --> 00:12:03,240 A little bit scared now. 258 00:12:03,240 --> 00:12:04,840 SARAH HARRIS: Next in the Tank 259 00:12:04,840 --> 00:12:06,640 are Queensland restaurateurs 260 00:12:06,640 --> 00:12:09,360 Pum and Chris Pyatt, 261 00:12:09,360 --> 00:12:12,880 hoping to give the Sharks some food for thought. 262 00:12:12,880 --> 00:12:15,000 SABRI: How do you handle spice, Robert? 263 00:12:15,000 --> 00:12:17,600 I love spice. I hope it's spicy. 264 00:12:17,600 --> 00:12:20,480 Yes. I love spice. I love sauce. 265 00:12:20,480 --> 00:12:24,880 We've been working at this for over eight years now. 266 00:12:24,880 --> 00:12:28,440 This is a big thing for us. We have a fantastic opportunity. 267 00:12:28,440 --> 00:12:30,400 We've got a fantastic business. 268 00:12:30,400 --> 00:12:34,160 We just want to make it as big as we possibly can. 269 00:12:34,160 --> 00:12:38,640 The purpose of food is as a vehicle to get sauce to your mouth. 270 00:12:38,640 --> 00:12:40,920 Yes, I love sauce. Really? 271 00:12:40,920 --> 00:12:42,400 Yep. I can drink sauce. 272 00:12:44,880 --> 00:12:45,920 Here we go. 273 00:12:45,920 --> 00:12:48,960 This one is my dream. 274 00:12:48,960 --> 00:12:51,320 It's everything here 275 00:12:51,320 --> 00:12:53,520 is my life, yeah. 276 00:12:53,520 --> 00:12:55,080 That's what I'm scared of. 277 00:13:04,040 --> 00:13:05,800 Hi, Sharks. I'm Pum. 278 00:13:05,800 --> 00:13:08,080 And I'm Chris and together... 279 00:13:08,080 --> 00:13:09,920 CHRIS AND PUM: We are Pum's Kitchen. 280 00:13:09,920 --> 00:13:11,360 (CHUCKLES) 281 00:13:11,360 --> 00:13:14,120 We start Pum's Kitchen in 2014 282 00:13:14,120 --> 00:13:17,280 and we moved to a food court in a store in 2015. 283 00:13:17,280 --> 00:13:19,160 At this food court restaurant, 284 00:13:19,160 --> 00:13:22,680 we earned our six Tripadvisor Certificates of Excellence. 285 00:13:22,680 --> 00:13:25,760 And in January 2020, 286 00:13:25,760 --> 00:13:29,080 we relocated our restaurant to where we are now. 287 00:13:29,080 --> 00:13:33,160 Because of COVID, 2020 was not a good year. 288 00:13:35,280 --> 00:13:40,160 On 27 March 2020, 289 00:13:40,160 --> 00:13:41,880 we shut our restaurant down. 290 00:13:44,120 --> 00:13:45,760 Um... 291 00:13:46,880 --> 00:13:48,080 That's alright. 292 00:13:55,040 --> 00:13:58,680 Things did get better and we reopened our restaurant. 293 00:14:00,760 --> 00:14:05,520 But while sitting at home in January 2022, 294 00:14:05,520 --> 00:14:08,680 we came up with a new idea. 295 00:14:08,680 --> 00:14:13,280 And yes, that on 3 April 2022, 296 00:14:13,280 --> 00:14:18,760 we delivered our first order of our ready meal 297 00:14:18,760 --> 00:14:20,640 at seven local IGA stores. 298 00:14:20,640 --> 00:14:22,800 ROBERT: Wow. That's very impressive. 299 00:14:22,800 --> 00:14:26,400 Today, we are looking for a $200,000 investment 300 00:14:26,400 --> 00:14:29,240 for a 20% share in our ready meal 301 00:14:29,240 --> 00:14:32,440 and home-style Thai cooking sauce business. 302 00:14:32,440 --> 00:14:36,360 To date, we have sold over 30,000 of our meals. 303 00:14:36,360 --> 00:14:40,200 We have had over $235,000 in sales. 304 00:14:40,200 --> 00:14:41,480 Wow. 305 00:14:41,480 --> 00:14:45,240 We now supply 15 IGAs with our ready meals. 306 00:14:45,240 --> 00:14:46,840 JANE: Wow. 307 00:14:46,840 --> 00:14:49,400 Every single one of these ready meals is prepared 308 00:14:49,400 --> 00:14:53,840 using the same cooking sauces we plan to put on the shelves of IGA. 309 00:14:55,040 --> 00:14:59,000 We've had discussions with senior IGA staff 310 00:14:59,000 --> 00:15:01,680 and they've told us that they want to put them on the shelves 311 00:15:01,680 --> 00:15:03,960 of every IGA in the country. 312 00:15:03,960 --> 00:15:06,960 IGA have 1,400 stores. 313 00:15:06,960 --> 00:15:11,760 The sales figures based on the projection of five sauces per day 314 00:15:11,760 --> 00:15:16,920 over 1,400 stores equals over 200,000 individual sales 315 00:15:16,920 --> 00:15:18,280 per month, 316 00:15:18,280 --> 00:15:21,560 close to a quarter of a million sales per year. 317 00:15:24,800 --> 00:15:26,320 Who wants to try? 318 00:15:26,320 --> 00:15:30,120 Yes, please! Oh, let us try the food, Pum! 319 00:15:30,120 --> 00:15:34,520 SARAH HARRIS: With a valuation of $1 million, 320 00:15:34,520 --> 00:15:39,520 will Pum's sauces be as tasty as the projected sales figures? 321 00:15:39,520 --> 00:15:41,680 OK, so, we have three flavours here today. 322 00:15:41,680 --> 00:15:45,240 Thank you. Alright, I'll try that one. 323 00:15:45,240 --> 00:15:48,000 Cheers. Cheers. 324 00:15:50,680 --> 00:15:52,440 Mmm! Oh, wow. 325 00:15:53,880 --> 00:15:55,520 Oh, that is so nice. 326 00:15:55,520 --> 00:15:56,600 Wow. PUM: Green curry. 327 00:15:56,600 --> 00:15:58,880 I can just drink this. 328 00:15:58,880 --> 00:16:01,000 Mmm! 329 00:16:01,000 --> 00:16:02,640 Chris, I just want to be clear. 330 00:16:02,640 --> 00:16:04,400 Today, you're selling full meal kits... 331 00:16:04,400 --> 00:16:05,400 Full meal, yes. 332 00:16:05,400 --> 00:16:09,320 ..but the plan is tomorrow to not sell meal kits, 333 00:16:09,320 --> 00:16:11,000 to only sell the sauce? 334 00:16:11,000 --> 00:16:12,440 No, no. 335 00:16:12,440 --> 00:16:15,480 We're gonna continue on with the ready meal business, 336 00:16:15,480 --> 00:16:17,320 but we will add to that. 337 00:16:17,320 --> 00:16:21,520 Do you have any stores where you're only selling the sauce today? 338 00:16:21,520 --> 00:16:22,840 We haven't launched yet. 339 00:16:26,000 --> 00:16:28,920 But we talk with the 15 IGA already 340 00:16:28,920 --> 00:16:31,440 and they're waiting for us to put the sauce in. 341 00:16:31,440 --> 00:16:36,080 So, is the opportunity for us today to invest in the sauce business 342 00:16:36,080 --> 00:16:40,600 or the ready made meals business or are they all under one umbrella? 343 00:16:40,600 --> 00:16:42,240 All under one umbrella. 344 00:16:43,640 --> 00:16:46,560 How many ready meals do you sell? 345 00:16:46,560 --> 00:16:50,160 The best store's selling over 140 a week. 346 00:16:50,160 --> 00:16:52,080 A week? 347 00:16:52,080 --> 00:16:55,600 Why make that leap right away to sauces? 348 00:16:55,600 --> 00:16:57,760 'Cause you're doing great with the meals. 349 00:16:57,760 --> 00:16:59,080 You know, some people, 350 00:16:59,080 --> 00:17:02,400 they want to cook by themselves at home. 351 00:17:02,400 --> 00:17:05,760 This all you just buy the sauce, put the protein you want. 352 00:17:05,760 --> 00:17:08,200 Even you wanna put the veggie in, put the veggie in. 353 00:17:08,200 --> 00:17:09,640 Everything cook. Done. 354 00:17:09,640 --> 00:17:10,960 CATRIONA: That's me, Pum. 355 00:17:10,960 --> 00:17:13,520 That's me because I'll cook up my own stuff, 356 00:17:13,520 --> 00:17:14,960 throw the sauces on the top. 357 00:17:14,960 --> 00:17:17,600 Our youngest child, he's eight. Eight. Yes. 358 00:17:17,600 --> 00:17:20,480 And he can cook the Penang curry... Penang curry. 359 00:17:20,480 --> 00:17:21,960 ..to a restaurant-serveable standard. 360 00:17:21,960 --> 00:17:23,200 Amazing. You're kidding? 361 00:17:23,200 --> 00:17:25,320 No. It easy. Yes, it easy. 362 00:17:25,320 --> 00:17:27,680 So, guys, I would like to learn more about 363 00:17:27,680 --> 00:17:30,840 why you're seeking investment to grow the business 364 00:17:30,840 --> 00:17:33,480 and why you can't reinvest the profit that you've made? 365 00:17:33,480 --> 00:17:35,520 Because you have quite a profitable business. 366 00:17:35,520 --> 00:17:38,720 To be able to finance what we're planning to do 367 00:17:38,720 --> 00:17:41,640 is gonna take more than what we have. 368 00:17:41,640 --> 00:17:44,040 We can do the 15 stores at the moment, 369 00:17:44,040 --> 00:17:46,200 but we want to be bigger. 370 00:17:46,200 --> 00:17:49,520 And what is the plan with scaling up production? 371 00:17:52,800 --> 00:17:58,120 For 1,400 store, we need nearly $1.8 million. 372 00:17:58,120 --> 00:18:01,080 Whoa. Wow! 373 00:18:01,080 --> 00:18:02,320 Wow. 374 00:18:02,320 --> 00:18:05,160 SARAH HARRIS: With the contradictions in their pitch revealed 375 00:18:05,160 --> 00:18:08,440 and their plans to scale quickly under fire, 376 00:18:08,440 --> 00:18:13,680 will the flavours overpower any doubts for the Sharks? 377 00:18:13,680 --> 00:18:18,280 I give you 200,000, but you need 1.8 million. 378 00:18:19,360 --> 00:18:22,560 Where are you gonna get the 1.8 million? 379 00:18:22,560 --> 00:18:25,800 We're gonna have to seek a short-term loan from somewhere. 380 00:18:25,800 --> 00:18:28,280 From where? That's... 381 00:18:28,280 --> 00:18:30,920 The bank. The bank or from you guy. (LAUGHS) 382 00:18:33,880 --> 00:18:35,240 We don't have the collateral 383 00:18:35,240 --> 00:18:37,320 to walk into a bank 384 00:18:37,320 --> 00:18:39,640 and ask for a $1.8 million short-term loan. 385 00:18:39,640 --> 00:18:43,840 Well, that's kind of where I'm going is you're gonna need that cash. 386 00:18:43,840 --> 00:18:45,440 Yeah. I mean, you said it. 387 00:18:45,440 --> 00:18:46,440 Mm-hm. 388 00:18:46,440 --> 00:18:50,640 So, it sounds great that you're gonna go to 1,400 stores, 389 00:18:50,640 --> 00:18:52,080 you're gonna do all this, 390 00:18:52,080 --> 00:18:57,200 but the reality is you're gonna need $1.8 million and you don't have it. 391 00:18:57,200 --> 00:18:58,880 Yep. 392 00:19:00,720 --> 00:19:04,000 I wish you all the best, but I'm out. 393 00:19:04,000 --> 00:19:05,280 OK. 394 00:19:05,280 --> 00:19:06,680 Thank you. Thank you. 395 00:19:06,680 --> 00:19:10,480 Pum and Chris, what do you plan on selling the sauces for 396 00:19:10,480 --> 00:19:12,280 and what do they cost you? 397 00:19:12,280 --> 00:19:15,920 The curry sauce, they're going to be between $8 or $8.50. 398 00:19:15,920 --> 00:19:18,720 For the stir-fry sauces, it's $6.50. 399 00:19:18,720 --> 00:19:21,960 That's the selling price. There's no GST on these products. 400 00:19:21,960 --> 00:19:23,880 And what are your costs, landed? 401 00:19:23,880 --> 00:19:26,200 Production costs are... 402 00:19:26,200 --> 00:19:28,760 About $3. ..like, only about $2 or $3. 403 00:19:28,760 --> 00:19:30,440 $3 include shipping. 404 00:19:30,440 --> 00:19:32,400 So, you'll make more margin on the sauce 405 00:19:32,400 --> 00:19:34,040 than you're making with the ready-made meals? 406 00:19:34,040 --> 00:19:35,040 Yes. 407 00:19:35,040 --> 00:19:38,040 And is that one of the reasons that's led you to go down this path? 408 00:19:38,040 --> 00:19:41,320 Do you feel like it's gonna be a more simplistic business to scale? 409 00:19:41,320 --> 00:19:43,040 Yes, simplistic to scale. 410 00:19:43,040 --> 00:19:44,680 OK. 411 00:19:44,680 --> 00:19:48,840 Pum and Chris, I share the same or similar concern 412 00:19:48,840 --> 00:19:50,320 to some of the other Sharks 413 00:19:50,320 --> 00:19:54,000 around the plan to go from a $200,000 investment 414 00:19:54,000 --> 00:19:56,960 through to needing $1.8 million. 415 00:19:56,960 --> 00:19:58,880 At this stage, 416 00:19:58,880 --> 00:20:01,840 with a valuation that I believe is quite high 417 00:20:01,840 --> 00:20:05,360 at around $1 million, 418 00:20:05,360 --> 00:20:06,440 I'm out. 419 00:20:06,440 --> 00:20:07,960 OK. All good. Thank you. 420 00:20:10,240 --> 00:20:11,400 Pum and Chris, 421 00:20:11,400 --> 00:20:16,640 this is gonna be a very capital-intensive business to scale, 422 00:20:16,640 --> 00:20:18,400 so for that reason, I'm out. 423 00:20:18,400 --> 00:20:21,080 OK, no worries. Thank you. 424 00:20:21,080 --> 00:20:24,280 I see this as a business that you guys can grow 425 00:20:24,280 --> 00:20:27,480 in...in a more steady fashion. 426 00:20:27,480 --> 00:20:30,560 I don't think you need to go too fast too quick. 427 00:20:31,960 --> 00:20:33,280 I'm sorry, but I'm out. 428 00:20:33,280 --> 00:20:34,960 OK. Thank you. 429 00:20:34,960 --> 00:20:38,640 Pum and Chris, you know, I am your target customer. 430 00:20:38,640 --> 00:20:41,040 When I was building my brands, 431 00:20:41,040 --> 00:20:44,400 I was always eating ready, like, meals, 432 00:20:44,400 --> 00:20:48,120 so I think I really love that element of the business. 433 00:20:50,640 --> 00:20:53,920 The thing that I really didn't like is just the focus of, 434 00:20:53,920 --> 00:20:55,520 "Alright, we're doing these ready meals, 435 00:20:55,520 --> 00:20:56,800 "we're gonna do sauces." 436 00:20:56,800 --> 00:20:58,800 Like, there's the restaurant element 437 00:20:58,800 --> 00:21:02,720 and it just all just feels a little bit too messy for me. 438 00:21:02,720 --> 00:21:06,840 I just don't think it's investable. I'm out. 439 00:21:06,840 --> 00:21:08,280 OK. No worries. OK, thank you. 440 00:21:08,280 --> 00:21:09,520 Thank you for your time. 441 00:21:09,520 --> 00:21:11,840 Thank you. Thank you. 442 00:21:11,840 --> 00:21:14,000 SARAH HARRIS: After revealing the business needed 443 00:21:14,000 --> 00:21:17,800 significantly more to scale than they were asking for, 444 00:21:17,800 --> 00:21:21,840 Chris and Pum leave the Tank empty-handed. 445 00:21:21,840 --> 00:21:24,560 We had always planned to do what we were doing 446 00:21:24,560 --> 00:21:26,480 in a slow fashion. 447 00:21:26,480 --> 00:21:28,720 We're still gonna do this. Mm. 448 00:21:28,720 --> 00:21:31,080 So, while this was an opportunity, 449 00:21:31,080 --> 00:21:33,960 it hasn't been a big enough opportunity for them... 450 00:21:33,960 --> 00:21:35,960 Mm-hm. ..but we'll still get there. 451 00:21:35,960 --> 00:21:38,600 We'll still get there. Yeah. Step by step, yeah. 452 00:21:47,800 --> 00:21:50,960 (SUSPENSEFUL MUSIC) 453 00:21:50,960 --> 00:21:52,400 SARAH HARRIS: Next to face the Tank 454 00:21:52,400 --> 00:21:55,040 are Jacob and Mikalah Strickling 455 00:21:55,040 --> 00:21:56,600 from New South Wales 456 00:21:56,600 --> 00:21:59,840 who have a seismic love of science. 457 00:21:59,840 --> 00:22:01,760 JACOB: I thought I was a mad scientist 458 00:22:01,760 --> 00:22:04,640 until somehow I came up with this mad invention. 459 00:22:04,640 --> 00:22:05,680 Oh! 460 00:22:05,680 --> 00:22:07,840 We're actually going on. Yeah, mate, this is it. 461 00:22:09,240 --> 00:22:10,960 ROBERT: Oh. JANE: What's this? 462 00:22:10,960 --> 00:22:12,760 It's a time machine! 463 00:22:12,760 --> 00:22:14,920 DAVIE: They're gonna send Robert back in time. 464 00:22:14,920 --> 00:22:18,280 Or they're gonna send me back in time, make me younger than Davie. 465 00:22:18,280 --> 00:22:19,600 (LAUGHS) Exactly. 466 00:22:21,920 --> 00:22:24,560 I feel like I'm in 'The Hunger Games'. (LAUGHS) 467 00:22:31,000 --> 00:22:37,000 Hi, Sharks. I'm Jacob Strickling and this is my beautiful daughter, Miki, 468 00:22:37,000 --> 00:22:38,960 and we're inviting you 469 00:22:38,960 --> 00:22:44,160 to help spread the joy and wonder of science. 470 00:22:44,160 --> 00:22:47,400 Ever since Professor Bunsen struck his first match, 471 00:22:47,400 --> 00:22:51,280 high school kids have been using the same old, tired equipment 472 00:22:51,280 --> 00:22:53,720 in high school science labs. 473 00:22:53,720 --> 00:22:56,800 I taught science for 25 years 474 00:22:56,800 --> 00:23:00,400 and never thought twice about whether there was 475 00:23:00,400 --> 00:23:02,600 a better, safer 476 00:23:02,600 --> 00:23:06,800 and more economical way to do chemistry. 477 00:23:06,800 --> 00:23:10,720 In 2018, my little brother and I, we left regular school 478 00:23:10,720 --> 00:23:12,080 and started homeschooling 479 00:23:12,080 --> 00:23:14,200 and Dad, being a science teacher, 480 00:23:14,200 --> 00:23:15,920 didn't want us to miss out on 481 00:23:15,920 --> 00:23:19,400 the regular hands-on science experiments like kids at school, 482 00:23:19,400 --> 00:23:24,280 so he invented his own chemistry set for us to use at home. 483 00:23:24,280 --> 00:23:26,760 And, surprisingly, he didn't embarrass me. 484 00:23:26,760 --> 00:23:28,120 (ALL LAUGH) They were actually... 485 00:23:28,120 --> 00:23:29,960 They were really good. (LAUGHS) 486 00:23:29,960 --> 00:23:36,160 Because I made one revolutionary big change. 487 00:23:36,160 --> 00:23:37,720 Ta-da! 488 00:23:37,720 --> 00:23:42,880 I took the old, crappy science equipment... 489 00:23:42,880 --> 00:23:45,000 (LAUGHS) That's great. 490 00:23:45,000 --> 00:23:48,320 ..and I put it into the time machine. 491 00:23:48,320 --> 00:23:50,920 (THUNDER CRACKS) Whoa! 492 00:23:50,920 --> 00:23:57,120 And out comes the Tiny Science Lab. 493 00:23:58,400 --> 00:23:59,400 Yay! 494 00:24:00,880 --> 00:24:03,720 Wow! Whoa, it IS tiny. 495 00:24:03,720 --> 00:24:07,800 Who wants a turn at coming up and hands-on trying it out? 496 00:24:07,800 --> 00:24:10,560 DAVIE: I'm definitely keen. Alright, up comes Davie. 497 00:24:10,560 --> 00:24:12,680 Can I go? Loved chemistry in school. 498 00:24:12,680 --> 00:24:14,120 You can come up. Here we go. 499 00:24:14,120 --> 00:24:15,960 So, this is called the Water Pump Up. 500 00:24:15,960 --> 00:24:17,800 We need to turn our Bunsen burner on. 501 00:24:17,800 --> 00:24:20,480 It's the baby Bunsen. It's the Tiny Bunsen burner. 502 00:24:20,480 --> 00:24:21,520 Oh, yeah. 503 00:24:21,520 --> 00:24:23,600 And so, underneath, you've got a gas chamber there 504 00:24:23,600 --> 00:24:26,000 and so, to turn it on, we're just gonna rotate it. 505 00:24:26,000 --> 00:24:27,920 You can hear the gas coming out. Yeah. 506 00:24:27,920 --> 00:24:29,560 It's not gonna explode, is it? Move back. 507 00:24:31,600 --> 00:24:33,720 (CHEERS) 508 00:24:35,040 --> 00:24:36,640 Now, we've got to be a bit careful. 509 00:24:36,640 --> 00:24:39,160 It's cute and tiny, but it's still a real flame. 510 00:24:39,160 --> 00:24:41,120 She's great. Yeah! 511 00:24:41,120 --> 00:24:44,640 We don't want to put our hands... (LAUGHS) 512 00:24:44,640 --> 00:24:49,240 Alright, so, we're gonna get our tripod and our wire gauze. 513 00:24:49,240 --> 00:24:54,040 So, let's put it on and we're gonna ramp up the heat a little bit. 514 00:24:54,040 --> 00:24:55,120 Ooh, yeah. 515 00:24:55,120 --> 00:24:57,000 And you can already see the condensation coming. 516 00:24:57,000 --> 00:24:58,200 Ooh! Oh. 517 00:24:58,200 --> 00:24:59,600 Oh! Water's bubbling. 518 00:24:59,600 --> 00:25:01,880 It's not gonna explode? 519 00:25:04,120 --> 00:25:06,480 Alright, so, that's really boiling. It's at 100 degrees. 520 00:25:06,480 --> 00:25:08,280 And so you're gonna invert it. 521 00:25:08,280 --> 00:25:11,160 JACOB: Do it quick. Upside down. Wait. 522 00:25:13,120 --> 00:25:14,960 (ALL CHEER) 523 00:25:17,680 --> 00:25:20,320 (LAUGHS) 524 00:25:20,320 --> 00:25:22,200 DAVIE: What's happened there? Yeah, what happened? Tell us. 525 00:25:22,200 --> 00:25:23,600 What happened? 526 00:25:23,600 --> 00:25:25,560 The steam condenses, leaving a vacuum, 527 00:25:25,560 --> 00:25:28,200 and air pressure pushes the water up the tube 528 00:25:28,200 --> 00:25:31,960 and air pressure is strong enough to push water up 10 metres. 529 00:25:31,960 --> 00:25:34,320 That's to the top of the ceiling. Really? 530 00:25:34,320 --> 00:25:35,960 Thanks, guys. That was great. Appreciate that. 531 00:25:35,960 --> 00:25:38,360 You probably need your glasses. That was super fun. 532 00:25:38,360 --> 00:25:40,120 That was fun. JANE: Good job. 533 00:25:40,120 --> 00:25:43,200 SABRI: I had fun just watching you. That was so fun. 534 00:25:43,200 --> 00:25:46,360 We're seeking $1 million... 535 00:25:46,360 --> 00:25:48,160 $1 million?! 536 00:25:48,160 --> 00:25:50,440 $1 million - is there an echo in here? - 537 00:25:50,440 --> 00:25:52,320 for 20% of our company. 538 00:25:52,320 --> 00:25:53,720 Whoa! 539 00:25:53,720 --> 00:25:54,840 Sharks, 540 00:25:54,840 --> 00:25:58,160 who is going to help us scale 541 00:25:58,160 --> 00:26:02,680 and bring Tiny Science Lab to the world? 542 00:26:02,680 --> 00:26:05,640 Oh! Great pitch! 543 00:26:05,640 --> 00:26:08,360 Whoo! Loved that pitch. 544 00:26:08,360 --> 00:26:11,960 That's the best pitch I've seen. Best pitch ever. 545 00:26:11,960 --> 00:26:17,320 SARAH HARRIS: The lab might be tiny, but the valuation is mammoth, 546 00:26:17,320 --> 00:26:19,960 leaving the Sharks with questions. 547 00:26:19,960 --> 00:26:22,080 This is the large chemistry set. 548 00:26:22,080 --> 00:26:24,440 SABRI: So, there's different sizes? Correct. 549 00:26:24,440 --> 00:26:26,400 MIKALAH: These are the junior...junior chemistry... 550 00:26:26,400 --> 00:26:28,000 CATRIONA: Thank you. 551 00:26:28,000 --> 00:26:30,120 How did you actually develop this? 552 00:26:30,120 --> 00:26:31,960 So, I made the first prototypes. 553 00:26:31,960 --> 00:26:37,440 I've worked out the exact right part and product to go in that set 554 00:26:37,440 --> 00:26:41,080 to meet the correct curriculum at that particular time. 555 00:26:41,080 --> 00:26:44,280 So, we're up to 850 orders. 556 00:26:44,280 --> 00:26:48,440 We've had 850 payments, 557 00:26:48,440 --> 00:26:50,440 we've had zero returns, 558 00:26:50,440 --> 00:26:54,680 and we've got 40 five-star reviews. 559 00:26:54,680 --> 00:26:57,480 Can you take us through what you're selling them for 560 00:26:57,480 --> 00:26:59,240 and what they cost to make? 561 00:26:59,240 --> 00:27:04,000 So, we sell this chemistry set for $350. 562 00:27:04,000 --> 00:27:05,880 Wow. 563 00:27:05,880 --> 00:27:08,440 And they cost us $200 to make. 564 00:27:08,440 --> 00:27:10,760 Hoo. That's expensive. 565 00:27:10,760 --> 00:27:13,320 Yeah, your margin's not great. 566 00:27:14,320 --> 00:27:18,640 SARAH HARRIS: With a huge price tag attached to the Tiny Science Lab, 567 00:27:18,640 --> 00:27:23,280 Catriona Wallace wants to get to the bottom of Jacob's valuation. 568 00:27:23,280 --> 00:27:25,320 So, you're seeking $1 million... Correct. 569 00:27:25,320 --> 00:27:27,080 ..at 20%. 570 00:27:27,080 --> 00:27:28,920 20%. One-fifth of the company. 571 00:27:28,920 --> 00:27:31,120 Yep, you're valuing this at $5 million? 572 00:27:31,120 --> 00:27:33,440 No. 573 00:27:33,440 --> 00:27:34,960 Yes, you are. No. 574 00:27:36,280 --> 00:27:37,800 To us, that's the formula. 575 00:27:37,800 --> 00:27:40,240 I value it at $10 million. 576 00:27:40,240 --> 00:27:43,000 I'm offering it to you for $5 million. 577 00:27:43,000 --> 00:27:45,760 My God. Don't be a crazy chicken here. 578 00:27:52,800 --> 00:27:55,360 So, you're seeking $1 million... Correct. 579 00:27:55,360 --> 00:27:56,600 ..at 20%. 580 00:27:56,600 --> 00:27:57,960 20%. 581 00:27:57,960 --> 00:28:00,160 You're valuing this at $5 million? 582 00:28:00,160 --> 00:28:01,440 No, no. 583 00:28:02,840 --> 00:28:06,360 SARAH HARRIS: Jacob Strickling's science lab might be tiny, 584 00:28:06,360 --> 00:28:11,960 but its price tag is one of the largest seen in the Tank to date. 585 00:28:11,960 --> 00:28:14,640 Yes, you are. No, no. 586 00:28:17,920 --> 00:28:20,400 I value it at $10 million. 587 00:28:21,520 --> 00:28:24,520 I'm offering it to you for $5 million 588 00:28:24,520 --> 00:28:27,400 because we want a Shark and their skills 589 00:28:27,400 --> 00:28:30,760 to help us develop it. 590 00:28:30,760 --> 00:28:33,840 With the scientists and the Sharks at odds, 591 00:28:33,840 --> 00:28:36,680 can they make sense of Jacob's valuation? 592 00:28:36,680 --> 00:28:39,560 How do you get the $10 million or $5 million? 593 00:28:41,120 --> 00:28:43,320 You're a scientist. Walk us through the data. 594 00:28:43,320 --> 00:28:46,160 I'm not being flippant here. (LAUGHS) 595 00:28:46,160 --> 00:28:51,560 Since five years old, my mum has brought me up with loving science. 596 00:28:51,560 --> 00:28:54,240 Everything has come to this point today 597 00:28:54,240 --> 00:28:58,400 where we are going to change how science is done. 598 00:28:58,400 --> 00:29:01,120 But, Jacob, we need an answer to the value. 599 00:29:01,120 --> 00:29:04,840 How do you value a newborn baby? (SHRIEKS) I don't know! How?! 600 00:29:04,840 --> 00:29:07,160 That's right! So, don't ask me these questions. 601 00:29:07,160 --> 00:29:10,360 I'm not the answer to everybody's... (LAUGHS) 602 00:29:11,520 --> 00:29:15,800 Do you know what? The $5 million is about respect. 603 00:29:15,800 --> 00:29:18,120 It's about respecting me. Oof. 604 00:29:18,120 --> 00:29:21,880 It's about respecting the product and it's about respecting you. 605 00:29:21,880 --> 00:29:23,440 1 million bucks - 606 00:29:23,440 --> 00:29:26,480 if that's gonna hurt you, just say I'm out. 607 00:29:26,480 --> 00:29:29,280 Look, 1 million bucks wouldn't even hurt me. 608 00:29:29,280 --> 00:29:32,280 Yeah, but, look, that's not how the market works, right? 609 00:29:32,280 --> 00:29:35,640 Wait, wait, wait, wait. 1 million bucks wouldn't hurt you? 610 00:29:35,640 --> 00:29:36,960 Correct. 611 00:29:36,960 --> 00:29:39,240 Well, then why don't you put the million dollars in? 612 00:29:39,240 --> 00:29:41,000 How do you know I haven't? 613 00:29:41,000 --> 00:29:42,640 Have you asked that question? 614 00:29:42,640 --> 00:29:45,080 "Jacob, have you put your house on the line?" 615 00:29:45,080 --> 00:29:49,720 Jacob, how much have you invested of your own money into this business? 616 00:29:50,880 --> 00:29:52,400 $51,000. 617 00:29:52,400 --> 00:29:55,240 (JANE LAUGHS) 618 00:29:55,240 --> 00:29:57,600 Oh, my God, I'm exhausted here! 619 00:30:00,280 --> 00:30:06,400 One reason I need a Shark is to put external pressure on me. 620 00:30:06,400 --> 00:30:08,800 I need external pressure. 621 00:30:08,800 --> 00:30:11,760 I think, honestly, that sounds exhausting 622 00:30:11,760 --> 00:30:13,520 'cause you have so much energy 623 00:30:13,520 --> 00:30:17,440 and it's, like, of the questions that we're asking you, 624 00:30:17,440 --> 00:30:19,440 we're getting somewhat cryptic answers back. 625 00:30:19,440 --> 00:30:20,520 Yep. 626 00:30:20,520 --> 00:30:22,040 You're not forthcoming about 627 00:30:22,040 --> 00:30:24,960 what would really help us understand and trust you. 628 00:30:24,960 --> 00:30:26,080 Yeah. 629 00:30:26,080 --> 00:30:27,720 And that causes me a lot of issues. 630 00:30:27,720 --> 00:30:30,440 I'm obsessed with this product, 631 00:30:30,440 --> 00:30:33,680 but I don't think I can be there 632 00:30:33,680 --> 00:30:36,680 and manage that external pressure that you need. 633 00:30:37,720 --> 00:30:39,160 I'm out. 634 00:30:39,160 --> 00:30:40,760 Thank you, Davie. 635 00:30:42,360 --> 00:30:48,040 Jacob and Miki, I...I just adore your enthusiasm. 636 00:30:48,040 --> 00:30:50,040 So, you're a charismatic founder. 637 00:30:50,040 --> 00:30:52,880 I think you're really onto something. 638 00:30:52,880 --> 00:30:56,640 My field is virtual reality and I think what we'll be doing 639 00:30:56,640 --> 00:31:01,680 in the future is also having kids doing science in virtual reality 640 00:31:01,680 --> 00:31:04,040 as opposed to your very physical approach. 641 00:31:04,040 --> 00:31:07,760 So, I'm really loving you both... 642 00:31:09,720 --> 00:31:13,640 ..but your valuation is mad. 643 00:31:13,640 --> 00:31:15,960 Yeah. I'm out. 644 00:31:15,960 --> 00:31:17,400 Yeah. Oh. 645 00:31:17,400 --> 00:31:19,360 I thought you were gonna say, "I'm in." 646 00:31:19,360 --> 00:31:22,520 Thank you, Catriona. Hey, guys. 647 00:31:22,520 --> 00:31:24,520 The thing about valuations is that 648 00:31:24,520 --> 00:31:26,760 there's an element of art versus science 649 00:31:26,760 --> 00:31:29,960 and there's a lot of science behind it, 650 00:31:29,960 --> 00:31:35,800 so your valuation has just drifted too far away from science. 651 00:31:35,800 --> 00:31:38,200 And in terms of you wanting pressure, 652 00:31:38,200 --> 00:31:41,600 I've got kids at home, I've got 100 staff members. 653 00:31:41,600 --> 00:31:45,880 (LAUGHS) I cannot take that on, so I'm out. 654 00:31:45,880 --> 00:31:47,520 Thank you, Jane. Thank you. 655 00:31:47,520 --> 00:31:49,880 Jacob and Miki, 656 00:31:49,880 --> 00:31:53,800 when you guys walked in and you started your presentation, 657 00:31:53,800 --> 00:31:56,680 I was, like, extremely excited 658 00:31:56,680 --> 00:32:00,360 and I think that with the right marketing, 659 00:32:00,360 --> 00:32:04,720 this is something that you can really, really explode 660 00:32:04,720 --> 00:32:07,480 and you guys just need the right gasoline 661 00:32:07,480 --> 00:32:11,000 to pour on your miniature Bunsen burner, so to speak. 662 00:32:12,920 --> 00:32:15,800 But then things started to get a little bit untangled. 663 00:32:18,440 --> 00:32:23,880 And there is no sound justification of how you arrived at your valuation. 664 00:32:23,880 --> 00:32:26,240 Yeah. I'm out. 665 00:32:26,240 --> 00:32:27,960 Thank you, Sabri. Yeah. 666 00:32:27,960 --> 00:32:30,000 That leaves Robert. 667 00:32:30,000 --> 00:32:33,080 SARAH HARRIS: With one Shark left circling... 668 00:32:33,080 --> 00:32:35,680 Hello! (CHUCKLES) 669 00:32:35,680 --> 00:32:40,360 ..will Robert give Jacob the drive and the investment he needs? 670 00:32:40,360 --> 00:32:44,480 I think you are so spot on trend. 671 00:32:44,480 --> 00:32:48,360 STEM school programs are, like, the hottest thing 672 00:32:48,360 --> 00:32:51,200 in the United States right now. 673 00:32:51,200 --> 00:32:56,880 My challenge is you're not in the kit business. 674 00:32:56,880 --> 00:32:59,440 You're in the entertainment business. 675 00:32:59,440 --> 00:33:04,480 I don't know why there isn't a Mad Jacob-Mad Miki show 676 00:33:04,480 --> 00:33:06,840 where kids come in 677 00:33:06,840 --> 00:33:11,760 and they happen to learn around chemistry. 678 00:33:11,760 --> 00:33:14,240 That's the business you're in, my friend. 679 00:33:14,240 --> 00:33:19,120 I'm sorry. I enjoyed the presentation, but I'm out. 680 00:33:19,120 --> 00:33:21,080 Thank you, Robert, for your time. Yeah, thank you. 681 00:33:21,080 --> 00:33:22,920 Thanks, guys. MIKALAH: Thank you. 682 00:33:22,920 --> 00:33:23,920 'Bye. 683 00:33:26,080 --> 00:33:27,920 You idiot! (LAUGHS) 684 00:33:31,400 --> 00:33:32,800 DAVIE: That was such a good product. 685 00:33:32,800 --> 00:33:35,120 But that valuation was... Too much money. 686 00:33:35,120 --> 00:33:36,920 JANE: That's true. 687 00:33:36,920 --> 00:33:39,760 (MIKALAH GROANS) Started good. 688 00:33:39,760 --> 00:33:41,960 Started good. Eh? Dad got a bit mad? 689 00:33:41,960 --> 00:33:45,480 I thought Dad did his research. Dad didn't do his research. 690 00:33:46,560 --> 00:33:48,360 I'm gonna prove them wrong. 691 00:33:48,360 --> 00:33:49,520 They're gonna look back 692 00:33:49,520 --> 00:33:52,080 and regret that they didn't jump on board when they did 693 00:33:52,080 --> 00:33:55,280 because $1 million for 20% will be cheap in a few years time. 694 00:33:55,280 --> 00:33:56,920 I can tell you that now. 695 00:34:03,560 --> 00:34:06,840 SARAH HARRIS: Next to hit the Tank are cousins Frank Inzitari 696 00:34:06,840 --> 00:34:10,840 and Frank Capamolo from rural New South Wales. 697 00:34:10,840 --> 00:34:13,320 Well, I'm Frank. And I'm Frank. 698 00:34:13,320 --> 00:34:17,320 We're two Franks. We're related and we grew up in the same town. 699 00:34:17,320 --> 00:34:20,400 We spend every day coming up with different inventions. 700 00:34:20,400 --> 00:34:23,600 Can their solution to a nationwide problem 701 00:34:23,600 --> 00:34:26,520 ignite a spark for our Sharks? 702 00:34:26,520 --> 00:34:30,080 We've lived and breathed this product for two years now. 703 00:34:30,080 --> 00:34:32,560 This is our baby and these guys are gonna help us 704 00:34:32,560 --> 00:34:34,800 take it to the next level. 705 00:34:34,800 --> 00:34:37,120 Next level, baby. This is it. 706 00:34:54,120 --> 00:34:55,760 Hi, I'm Frank. 707 00:34:55,760 --> 00:34:57,520 And I'm Frank. 708 00:34:57,520 --> 00:35:00,160 And we are the inventors of Fire Halo. 709 00:35:00,160 --> 00:35:03,920 We are here today to seek $100,000 investment 710 00:35:03,920 --> 00:35:06,720 for 20% equity of our company. 711 00:35:08,040 --> 00:35:09,600 In Australia, in every state, 712 00:35:09,600 --> 00:35:13,160 Aussies have always had to deal with devastating bushfires. 713 00:35:13,160 --> 00:35:15,280 80% of houses that are destroyed 714 00:35:15,280 --> 00:35:18,400 are from the flying embers that can hit the roof 715 00:35:18,400 --> 00:35:22,160 and ignite whatever debris is in the gutters. 716 00:35:22,160 --> 00:35:25,720 Now, one tried and proven method over the many decades 717 00:35:25,720 --> 00:35:28,840 was to be able to create a moat of water around our roof 718 00:35:28,840 --> 00:35:32,880 to enable the embers to be caught and extinguished 719 00:35:32,880 --> 00:35:37,680 and also soak any debris that may be laying there, such as dry leaves. 720 00:35:37,680 --> 00:35:41,160 It's a device that saves water during a bushfire event. 721 00:35:41,160 --> 00:35:43,520 You plug it in, it fills up your gutter 722 00:35:43,520 --> 00:35:46,520 as opposed to, say, putting sprinklers on the top of the roofs 723 00:35:46,520 --> 00:35:50,280 where the water is just constantly running. 724 00:35:50,280 --> 00:35:54,320 Fire Halo is affordable, it's easy, it's quick 725 00:35:54,320 --> 00:35:56,080 and it's safe. 726 00:35:56,080 --> 00:35:59,000 It is fully patented, it is trademarked 727 00:35:59,000 --> 00:36:01,080 and we think the Fire Halo will be a name 728 00:36:01,080 --> 00:36:03,840 that people could come to know and trust in the future. 729 00:36:05,600 --> 00:36:07,360 ROBERT: Whoa! CATRIONA: Oh, wow! 730 00:36:07,360 --> 00:36:09,080 SABRI: Whoa! 731 00:36:10,240 --> 00:36:13,480 This is what will happen if there's no water in the gutters. 732 00:36:13,480 --> 00:36:16,280 Those dry leaves will ignite quite quickly 733 00:36:16,280 --> 00:36:18,520 during the savage bushfire events. 734 00:36:18,520 --> 00:36:21,240 And, basically, once the gutters are on fire like that, 735 00:36:21,240 --> 00:36:23,440 there's no saving the property at all. 736 00:36:23,440 --> 00:36:24,840 Can you put the fire out? 737 00:36:24,840 --> 00:36:28,760 So, that just shows what happens when you've got no protection. 738 00:36:28,760 --> 00:36:30,360 Got it. DAVIE: That makes sense. 739 00:36:30,360 --> 00:36:33,560 This is where our Fire Halo comes in handy. 740 00:36:33,560 --> 00:36:35,320 CATRIONA: Great. Alright, thanks. 741 00:36:35,320 --> 00:36:38,440 SARAH HARRIS: Frank and Frank have used the element of fire 742 00:36:38,440 --> 00:36:40,600 to capture the Sharks' attention 743 00:36:40,600 --> 00:36:45,560 and show how debris-filled gutters can create a fire hazard. 744 00:36:45,560 --> 00:36:48,600 With the fire extinguished safely, 745 00:36:48,600 --> 00:36:52,400 now the Franks want to demonstrate how to use the Fire Halo 746 00:36:52,400 --> 00:36:55,280 as a prevention measure during a bushfire threat. 747 00:36:55,280 --> 00:36:57,560 Do you want to see how it works? Yes. 748 00:36:57,560 --> 00:36:59,440 Yes, please. 749 00:36:59,440 --> 00:37:03,360 During a threat, we turn the valve to the off position. 750 00:37:03,360 --> 00:37:06,560 We turn the smaller valve on. 751 00:37:06,560 --> 00:37:08,360 Can we come and have a look? 752 00:37:08,360 --> 00:37:09,920 Yeah, sure, come have a look. 753 00:37:11,200 --> 00:37:13,720 In modern houses, we have every down pipe 754 00:37:13,720 --> 00:37:16,640 that's attached to one feeder pipe into the tank. 755 00:37:16,640 --> 00:37:19,840 So, normally, that would be open all year round, 756 00:37:19,840 --> 00:37:23,000 serving as a stormwater pipe and feeding the tank. 757 00:37:23,000 --> 00:37:26,200 During a threat, we turn the valve to the off position 758 00:37:26,200 --> 00:37:29,000 and once you turn it off, it will push the water up. 759 00:37:30,560 --> 00:37:32,400 A normal down pipe catches your rainwater 760 00:37:32,400 --> 00:37:33,720 and sends it into the tank. 761 00:37:33,720 --> 00:37:36,080 We're reversing that whole system. 762 00:37:36,080 --> 00:37:38,320 But what if I don't have a water tank? 763 00:37:38,320 --> 00:37:39,920 Glad you asked. 764 00:37:39,920 --> 00:37:41,960 We've made two versions of the Fire Halo, 765 00:37:41,960 --> 00:37:44,640 so this version here does the older houses. 766 00:37:44,640 --> 00:37:47,160 So, what happens is you've got to introduce water to it. 767 00:37:47,160 --> 00:37:50,120 A tap here with the water hose tap, like then, 768 00:37:50,120 --> 00:37:52,360 and once you turn it on, it'll push the water up. 769 00:37:52,360 --> 00:37:54,840 Just a normal garden hose hooks up to that. 770 00:37:54,840 --> 00:37:56,600 Mm-hm. 771 00:37:56,600 --> 00:37:58,760 Oh, I see. 772 00:37:58,760 --> 00:38:02,560 SARAH HARRIS: It's a potentially revolutionary product 773 00:38:02,560 --> 00:38:05,920 and Robert Herjavec wants to know more. 774 00:38:07,240 --> 00:38:10,640 Is there enough water pressure from my hose 775 00:38:10,640 --> 00:38:15,560 for the water to actually go up and even soak the gutter? 776 00:38:15,560 --> 00:38:17,480 Every town in Australia has enough water pressure 777 00:38:17,480 --> 00:38:18,960 to do a two-storey house. 778 00:38:18,960 --> 00:38:20,600 I'm amazed by that. 779 00:38:21,720 --> 00:38:25,880 Frank, what if, like me, you never clean your gutters 780 00:38:25,880 --> 00:38:28,200 and the gutters are full of leaves? 781 00:38:28,200 --> 00:38:31,400 The idea of the Fire Halo is to soak any debris that's on there... 782 00:38:31,400 --> 00:38:32,800 Oh, right. ..in the moment. 783 00:38:32,800 --> 00:38:35,960 When it's wet, the chances of ignition are gonna be a lot lower. 784 00:38:39,120 --> 00:38:42,800 I just recently bought a house in beautiful Mylor, South Australia. 785 00:38:42,800 --> 00:38:45,960 The previous owner showed me a bunch of tennis balls 786 00:38:45,960 --> 00:38:49,000 that she expected me to throw into the gutter. 787 00:38:49,000 --> 00:38:50,840 You know exactly what we're talking about. 788 00:38:50,840 --> 00:38:53,400 Try to lodge it in while a fire's coming. 789 00:38:53,400 --> 00:38:54,400 Yes. 790 00:38:54,400 --> 00:38:56,400 Then turn on the sprinklers on the roof. 791 00:38:56,400 --> 00:38:59,400 My family have a property, a 10,000-acre farm, 792 00:38:59,400 --> 00:39:00,960 up near Gloucester 793 00:39:00,960 --> 00:39:03,880 and in November 2019, that Black Summer, 794 00:39:03,880 --> 00:39:09,120 where there was 46 million acres in Australia incinerated, 795 00:39:09,120 --> 00:39:12,040 so, we lost the entire farm 796 00:39:12,040 --> 00:39:15,000 and an ember attack on the house next door 797 00:39:15,000 --> 00:39:18,720 took that house down in 15 minutes. 798 00:39:18,720 --> 00:39:23,240 Our house was saved because two men from up the road 799 00:39:23,240 --> 00:39:25,080 were standing there with hoses 800 00:39:25,080 --> 00:39:27,200 and stood and defended our house. 801 00:39:27,200 --> 00:39:31,040 I think if we had something like this, 802 00:39:31,040 --> 00:39:34,280 it probably wouldn't have needed to put humans in danger. 803 00:39:34,280 --> 00:39:35,400 Yeah. 804 00:39:36,960 --> 00:39:38,640 How are you guys gonna sell this? 805 00:39:38,640 --> 00:39:40,240 How is this gonna become a big thing? 806 00:39:40,240 --> 00:39:42,720 Our main goal here is getting into the BAL. 807 00:39:42,720 --> 00:39:44,040 Can you explain what that is? 808 00:39:44,040 --> 00:39:46,040 Bushfire Attack Level. Attack Level. 809 00:39:46,040 --> 00:39:47,960 So, we want to put this Fire Halo, 810 00:39:47,960 --> 00:39:49,640 because it's only a few hundred dollars... 811 00:39:49,640 --> 00:39:54,080 How much is it? $299 including delivery and GST. 812 00:39:54,080 --> 00:39:55,760 What does it cost to make? 813 00:39:55,760 --> 00:39:58,400 $90. Made in Australia. We assemble it. 814 00:39:58,400 --> 00:39:59,520 We've got our warehouse 815 00:39:59,520 --> 00:40:01,800 that we've locked in a long lease for eight years, 816 00:40:01,800 --> 00:40:03,040 ready to rock'n'roll. 817 00:40:03,040 --> 00:40:04,880 You're selling it at $299, was it? 818 00:40:04,880 --> 00:40:06,320 Including GST, yeah. 819 00:40:06,320 --> 00:40:07,800 You haven't sold any yet. 820 00:40:07,800 --> 00:40:12,400 We've got probably 20 or 30 houses locally that want 'em. 821 00:40:12,400 --> 00:40:14,280 How long have you been testing it? 822 00:40:14,280 --> 00:40:16,160 They've been at my house for over two years. 823 00:40:16,160 --> 00:40:19,640 It sounds like a great product, but it's so beyond me. 824 00:40:19,640 --> 00:40:23,080 I don't even... How you plan to sell it, I don't even know how to do it. 825 00:40:23,080 --> 00:40:25,760 So, for that reason, I'm out. 826 00:40:25,760 --> 00:40:26,920 Thank you, Jane. 827 00:40:26,920 --> 00:40:28,240 Yeah, you guys are awesome. 828 00:40:28,240 --> 00:40:31,160 This could either be a billion-dollar business 829 00:40:31,160 --> 00:40:33,600 or nothing at all. 830 00:40:33,600 --> 00:40:35,280 I just don't know enough about the space. 831 00:40:35,280 --> 00:40:38,400 There may be a wholesale opportunity, 832 00:40:38,400 --> 00:40:40,840 but I can't open those doors for you guys at this point, 833 00:40:40,840 --> 00:40:42,640 so for those reasons, I'm out. 834 00:40:42,640 --> 00:40:43,920 Thanks, Davie. 835 00:40:43,920 --> 00:40:46,320 This is an incredible product 836 00:40:46,320 --> 00:40:51,000 given what a devastating thing these wildfires are, 837 00:40:51,000 --> 00:40:54,600 but I'm looking for businesses that I can really help accelerate 838 00:40:54,600 --> 00:40:57,520 with all the skills and expertise that I have. 839 00:41:00,200 --> 00:41:02,000 So, for those reasons, I'm out. 840 00:41:02,000 --> 00:41:03,120 Appreciate that. 841 00:41:06,760 --> 00:41:09,320 SARAH HARRIS: The heat is on for Frank and Frank 842 00:41:09,320 --> 00:41:11,720 with three Sharks out. 843 00:41:11,720 --> 00:41:16,160 Only Catriona Wallace and Robert Herjavec remain. 844 00:41:16,160 --> 00:41:19,920 CATRIONA: Robbo, what are you doing? 845 00:41:27,960 --> 00:41:28,960 So... 846 00:41:31,160 --> 00:41:32,560 ..Davie said he may not know 847 00:41:32,560 --> 00:41:35,560 whether it's a million- or a billion-dollar business 848 00:41:35,560 --> 00:41:39,440 and I think he also said he can't open those doors for you. 849 00:41:39,440 --> 00:41:42,680 Well, I know what this business is 850 00:41:42,680 --> 00:41:45,480 and I can certainly open those doors for you. 851 00:41:45,480 --> 00:41:46,720 Mate... 852 00:41:46,720 --> 00:41:47,840 But... 853 00:41:47,840 --> 00:41:49,960 (SUSPENSEFUL MUSIC) 854 00:41:54,360 --> 00:41:57,880 Who will sink and who will get snapped up? 855 00:41:57,880 --> 00:42:00,760 Watch full episodes of Shark Tank Australia 856 00:42:00,760 --> 00:42:02,240 on 10 play. 857 00:42:09,640 --> 00:42:12,920 SARAH HARRIS: Cousins Frank and Frank have developed a product 858 00:42:12,920 --> 00:42:16,240 that speaks to a problem at the heart of the nation. 859 00:42:16,240 --> 00:42:19,800 With three Sharks already out, 860 00:42:19,800 --> 00:42:24,040 can the pair convince Catriona Wallace or Robert Herjavec 861 00:42:24,040 --> 00:42:28,520 to join them in their quest to save Australian homes from bushfires? 862 00:42:28,520 --> 00:42:31,720 CATRIONA: Robbo, what are you doing? 863 00:42:41,520 --> 00:42:44,800 So, Frank and Frank... 864 00:42:44,800 --> 00:42:47,400 Two Franks. We wanna be frank with you. We're fair dinkum. 865 00:42:47,400 --> 00:42:50,360 Um, I'm so excited. 866 00:42:51,560 --> 00:42:53,280 Yeah, so am I. 867 00:42:53,280 --> 00:42:55,800 My wife thinks I came to Australia for her. 868 00:42:55,800 --> 00:42:57,200 (LAUGHS) 869 00:42:57,200 --> 00:42:58,760 I came here for the Franks. 870 00:42:58,760 --> 00:43:00,320 You come here for the Franks. 871 00:43:00,320 --> 00:43:01,640 (SHARKS LAUGH) 872 00:43:01,640 --> 00:43:05,600 This is such a great idea. 873 00:43:05,600 --> 00:43:07,160 Thank you. Thanks, mate. 874 00:43:07,160 --> 00:43:08,600 It is brilliant. 875 00:43:10,720 --> 00:43:15,200 It is simple and it fits a need 876 00:43:15,200 --> 00:43:17,640 and you get it right away. 877 00:43:17,640 --> 00:43:19,280 Yeah. 878 00:43:19,280 --> 00:43:23,480 I'm not sure I agree with how you are gonna market it. 879 00:43:23,480 --> 00:43:25,560 Yes, you should go to the building commissions, 880 00:43:25,560 --> 00:43:27,960 you should try to get this as part of the code, 881 00:43:27,960 --> 00:43:29,800 but that's gonna take a long time. 882 00:43:29,800 --> 00:43:32,040 I wanna get to market faster. 883 00:43:32,040 --> 00:43:34,480 It's not just Australia, but in California, 884 00:43:34,480 --> 00:43:36,200 this would sell like crazy 885 00:43:36,200 --> 00:43:40,680 in Home Depot, in Home Hardware, in all those retailers. 886 00:43:40,680 --> 00:43:42,080 Man, what's your offer? Alright! 887 00:43:42,080 --> 00:43:44,200 What's your offer? Let's go. 888 00:43:46,760 --> 00:43:48,440 I am a Shark. 889 00:43:49,960 --> 00:43:52,360 I want you to think about the scale of the business. 890 00:43:52,360 --> 00:43:54,680 It's not what it's worth today. 891 00:43:54,680 --> 00:43:57,880 It's what it's gonna be worth tomorrow. 892 00:43:59,200 --> 00:44:01,240 I wanna be one of the Franks. 893 00:44:01,240 --> 00:44:05,160 Your offer at 100,000 for 20% 894 00:44:05,160 --> 00:44:07,920 says the company is worth 500,000 today. 895 00:44:07,920 --> 00:44:09,960 It's a fair valuation for what you have... 896 00:44:09,960 --> 00:44:10,960 Thank you. 897 00:44:10,960 --> 00:44:12,240 ..for such a revolutionary product, 898 00:44:12,240 --> 00:44:17,800 but I wanna be a Frank, so I'll give you 150,000... 899 00:44:19,000 --> 00:44:21,080 Oh! Wow. 900 00:44:22,120 --> 00:44:23,600 ..for one-third. 901 00:44:23,600 --> 00:44:25,920 That's my offer. 902 00:44:25,920 --> 00:44:29,120 Let's go sell a bunch of Fire Halos. 903 00:44:29,120 --> 00:44:31,480 OK, thank you, Robert. 904 00:44:32,920 --> 00:44:33,920 That's a great offer. 905 00:44:33,920 --> 00:44:35,520 Thank you very much, Robert. But we've... 906 00:44:35,520 --> 00:44:41,360 It's not the only Shark that's left to...bid. 907 00:44:41,360 --> 00:44:42,880 What are you gonna do? 908 00:44:49,840 --> 00:44:52,760 What I would like to do, Robbo, if you're up for it, 909 00:44:52,760 --> 00:44:58,360 I'm already a spokesperson around fires in Australia. 910 00:44:58,360 --> 00:45:00,960 Yes, that's a good point. I'm extremely well networked. 911 00:45:00,960 --> 00:45:04,920 So, Robbo, would you consider cutting me in on this deal? 912 00:45:09,880 --> 00:45:13,560 I respect what you bring to it. 913 00:45:17,440 --> 00:45:18,440 No. 914 00:45:20,720 --> 00:45:22,640 Not to be greedy, 915 00:45:22,640 --> 00:45:27,480 but I think the scope of the opportunity is just so big. 916 00:45:27,480 --> 00:45:32,000 I mean, I really... I mean, I'd love to own the entire thing. 917 00:45:34,480 --> 00:45:36,040 So, Cat, I appreciate the offer, 918 00:45:36,040 --> 00:45:39,520 but I think, if the Franks will have me, 919 00:45:39,520 --> 00:45:43,680 I want to stick with $150,000 for one-third. 920 00:45:43,680 --> 00:45:45,040 Well... 921 00:45:50,800 --> 00:45:55,880 Franks, I really wanted to do this 922 00:45:55,880 --> 00:46:01,600 and I could potentially outbid Robert. 923 00:46:05,320 --> 00:46:09,720 But I genuinely believe 924 00:46:09,720 --> 00:46:11,680 you are better going with Robert 925 00:46:11,680 --> 00:46:15,720 to get this to market, to scale, 926 00:46:15,720 --> 00:46:18,960 to save lives faster. 927 00:46:18,960 --> 00:46:21,000 I appreciate that, Cat. 928 00:46:21,000 --> 00:46:26,440 So, for that reason, I'm out. 929 00:46:26,440 --> 00:46:28,760 Thank you, and your contribution's been great. 930 00:46:30,320 --> 00:46:33,320 Frank and Frank, what are you guys gonna do? 931 00:46:34,800 --> 00:46:36,160 No-brainer, mate. We're sticking... 932 00:46:36,160 --> 00:46:37,920 We're sticking with the Canadian king. 933 00:46:37,920 --> 00:46:39,680 (SHARKS CHEER) 934 00:46:39,680 --> 00:46:41,400 JANE: Oh, here we go. 935 00:46:41,400 --> 00:46:43,240 (ROBERT LAUGHS) 936 00:46:43,240 --> 00:46:44,680 Good job! Thank you. 937 00:46:44,680 --> 00:46:47,280 That was awesome! Thank you, guys! 938 00:46:47,280 --> 00:46:48,720 Great product! 939 00:46:48,720 --> 00:46:50,400 So happy for you guys. 940 00:46:50,400 --> 00:46:52,640 SABRI: Well done. Whoo! Whoo! 941 00:46:52,640 --> 00:46:55,400 That was awesome. 942 00:46:55,400 --> 00:46:57,000 DAVIE: That is such a good product. 943 00:46:57,000 --> 00:46:58,520 ROBERT: So excited by that. 944 00:46:58,520 --> 00:47:00,720 You're gonna be a great partner for that. 945 00:47:00,720 --> 00:47:03,160 Job's on, baby! You little ripper. 946 00:47:03,160 --> 00:47:05,160 Imagine that in all US retail. 947 00:47:05,160 --> 00:47:07,040 (LAUGHS) Oh, yeah! 948 00:47:07,040 --> 00:47:08,520 That was worth... Canadian, mate. 949 00:47:08,520 --> 00:47:10,120 That was worth the 2.5 years. 950 00:47:10,120 --> 00:47:11,880 We love you, Robert. (LAUGHS) 951 00:47:15,640 --> 00:47:17,960 Captions by Red Bee Media