Company: First Defense Nasal Screens
Entrepreneur: Joe Moore
Ask: $500,000 for 10% equity
Episode: Season 2 Episode 202
Other companies on this episode are: ToyGaroo, Wake n' Bacon, and Vurtego Pogo Sticks
Screens are designed to let air through while keeping pollutants out, making First Defense Nasal Screens a logical solution to keep bad things out of our nose. The catch is, they look strange. The nasal screens are not likely to catch on in the United States but are a sure bet in other places such as the middle east.
First Defense Nasal Screens a Winner
Joe Moore knows he has a winner walking into the Shark Tank despite being ridiculed by Mark Cuban in the first few seconds of his pitch. Mark changes his tone quickly when he learns how many units are already committed and why people use nasal screens.
The nasal screens eliminate up to 99% of the foreign bodies coming through as a person inhales and opens to allow full exhale. Yes, you see the filters covering your nostrils, but the alternative is wearing a full face mask.
Applying the First Defense Nasal Screens are similar to putting on contacts. You hold it on the back side with your finger and maneuver the screen into place covering your nostril.
First Defense Nasal Screens Selling Like Crazy
First Defense Nasal Screens are selling like crazy in places like the United Arab Emirates and Saudi Arabia where airborne particles such as sand are a significant issue. Joe presents his order for $8,000,000 to the Sharks proving he has the business to back up his position and causes a battle to between Sharks vying for the deal.
First Defense Nasal Screens are patent protected in multiple countries, and he only needs the money for raw material purchases upfront.
Joe is doing business with people who have allergy issues and who deal with chemicals. They also have monthly memberships that ship every month. They are a global business.
He initially contacted the drug companies who said they would buy and shelve First Defense Nasal Screens because it would cut into their profit margins from the drugs they sell to cover illness.
Bidding war for First Defense Nasal Screens
The only Shark to go out is Barbara because she focuses on the difficulty marketing First Defense Nasal Screens, but this product sells itself especially in other countries.
Soon, a bidding war goes crazy with three of the Sharks ultimately coming together on Shark Tank. Kevin O'Leary initiates the battle offering $500,000 with a 15% royalty until he recoups his investment along with 20% equity. Mark quickly offers to go in with Kevin on the deal.
Daymond comes in with his offer of $800,000 for 30% and then a 10% royalty. Kevin replies with a proposal for a million dollars outright to buy the company, and Joe says no. Daymond counters with 1 million dollars for 30% equity and a 10% royalty to recoup the original investment.
Sell First Defense Nasal Screens with a Royalty?
Joe Moore comes back saying he would consider selling with royalty such as 10% attached but it would take more money. That's when Robert Herjavec jumps in and offers $2,000,000 plus a 10% royalty for a 100% stake. Joe declines saying it is not enough money. Robert than counters with $4,000,000.
Joe Moore says Robert is getting close if he would come up with a 15% royalty and 5 million dollars he would consider the deal. Robert is comfortable at $4,000,000 but not $5,000,000.
That's when Kevin asks Joe to leave for a few minutes, and he offers to bring Daymond in with him and Mark. The new deal is $750,000 for 30% with a 10% perpetual royalty. He asks them to go to $1.2 million, so he doesn't have to worry about funding future deals when Mark says they will do that for him.
Joe asks Mark for season tickets to the Maverick's and Mark says done. They have a deal.
Joe commented that he never thought that he'd turn down $4 million but it happened, and he still has 70% of his company and $750,000 cash.
Sharks hearing the First Defense Nasal Screen deal are:
What happened with First Defense Nasal Screens?
The company is doing huge numbers, and despite making a deal on Shark Tank, Joe Moore never took the money from the Sharks. He is raking it in on his own!
Are First Defense Nasal Screens used in the United States?
According to reviews, I am reading; people are using them in the United States. Someone is using them when they mow their lawn; another is using them when doing bodywork on cars. Woodworkers are using them to keep from inhaling sawdust. Firefighters are using them when fighting forest fires keeping the insides of their nostrils from being burned.
The nasal screens come in multiple sizes ranging from small, medium, to large. Multi-size packages are available for the family. And, First Defense Nasal Screens are known for protecting people from the flu viruses spreading through viral droplets.
If you are a person that has to wear a mask to protect the air you breath in, the nasal screens may be the perfect solution for the environmental challenges you face on a daily basis. Consider trying out First Defense Nasal Screens which are available through Amazon.com. The hyperlink to the Amazon.com name will take you directly to their product. If you have Prime, you will get them delivered to you within two business days. Maybe even Sunday!
What about you? Are you ready to try out First Defense Nasal Screens? I am considering trying them the next time my allergy issues cause problems for me.