[Music] next up is a convenient way to bring more clarity into your [Music] life hi sharks I'm Mark Singer and I'm Kenza singer we're a father and sanduo from Santa Barbara and are here to ask for $25,000 for a 5% stake in our company Iris sharks I have a question for you what do sugarless ice cream low salt turkey bacon and cheese free mac and cheese all have in common they were all bought by mistake because I didn't have my reading glasses with me at the supermarket and we had to eat all that stuff people like my parents who need reading glasses know the frustration of not having their readers with them when they need that but it doesn't always have to be like that actually I'm wearing my reading glasses right now with one hand in one motion and in one second Iris reading glasses change from wristwear oh my go there you go and back again that's pretty cool cat dad why don't you show them one more time using our patented Memory Metal Bridge design Iris reading glasses both spring open and snap shut how clever is that today Iris has received four International Design Awards but more importantly Iris reading classes are fashionable which of you is interested in forming a strategic partnership to share our vision and allow the world to see the power of irus sharks in front of you are samples for you to try for yourself ever [Music] ever you know it's really clever now I have a very small wrist and it fits are there different sizes bab all one size we're starting out with a universal one siiz f tall so it should fit most everyone about 95% of the population is what we're going for and you have a patent on this so I see right there it looks like a Utility Patent that's correct we have a Utility Patent in the United States China Japan and soon to issue in 26 European countries these grippers do they leave a mark in your skin if you're wearing these for like an hour it's a great question I've been wearing them sometimes 247 for uh months and they may leave a little bit but nothing that is been bothersome the reading glasses they're not long-term you know for on the go that's exactly right these are designed for the dozens and dozens of times a day that you need to take them off put them on check your phone one hand one motion one second and what do you sell them for what do they cost you to make yeah so they cost us $30.50 that's landed in our warehouse ready to go we sell them for $110 online and that includes free shipping are you an inventor yeah for me it was a need-based uh product um as I got older I needed reg glass more and more and they they were never with me when I needed them I thought the solution was to buy a dozen pair and put them everywhere I still didn't have them when I needed them fortunately my son had an eye on me and and he came up with the are you an engineer I am uh yes I have a bachelor's and a master's degree in Structural Engineering from cor un how did you come up with the idea how did you figure it out I was working as a structural engineer and I designed everything from skyscrapers to soccer stadiums and thought that you know hey physics at the scale of a skysc scraper also applies to something as small as a pair of reading glasses so I just kind of Applied what I knew to come up with this mechanism that's both stable open and stable closed we spent a weekend in his wood shop prototyping it figured it out and uh once we got a working prototype we thought hey this could this could work and that's when I quit my engineering job and did this fulltime mark what was your reaction when you Sun out with you if you think starting a business is tough try doing it with your kid try doing with your D oh my God we just didn't hear Mark's background what's your background well um I left home at uh about 15 and a half barely graduated uh High School never got out of college I'm mostly a woodworker for over 60 years I've been designing and making Furniture although along the way I have started some companies and brought a number of products to Market including one you might actually be aware of which one was that gorilla Gorilla Glue the gorilla Gorilla Glue that's yours kidding G I have a bottle of that back at the hotel right now past his hairpiece with and you sold that that's a massive company now yes I did sell that years ago excellent wow was that a good outcome for you every company that I've ever sold has included u a royalty component so yes it's worked out very well did you say royalty I did Sir OU standing good man so how many of you sold tell us about your sales so our website technically went live at the end of last year these first N9 months have been ATT testing and optimization period in terms of our website during this testing period we've actually managed to do about $28,000 in sales I know that sounds low so let me give you some context now the last thing I wanted to do was to irresponsibly throw a bunch of my dad's money into Marketing in order to pump up our sales in an inefficient way smart guy so we've really only been spending about $45 a day on Aver aage on ads and even with uh low sales volume we're actually managing to turn a small profit we're only selling Direct on our own website sorry I just want to ask how much money you have in the business I put about uh 630,000 into it wow that's a lot but because you're a royalty guy you don't need the money why do you need a shark um your most valuable commodity isn't your money it's it's your time uh you can always make more money but you can't make more time and time gone by is gone forever I don't have it in me to build another company my time has passed my main reason for being here is to leave Ken's own good hands and by that I mean with successful smart honest and ethical people like yourselves wow I love you baby I definitely want to make you an offer because I'm so impressed with you and I mean it's just uh Hey Kevin hold on Kevin what's going on with Lori yeah please Lori I'm sorry what you all right while you're crying it just really touched me I'm I you know we all have limited time here and um it just it just really impacted me the way you were saying that you know you like done your thing and that you just want to make sure that your family's okay um I it just got me um so forgive me um I listen I just want to make you an offer I'd like to offer you 25,000 for 10% um I know this business I know what it takes I've done millions of dollars in sunglasses and readers and I think that this was pretty ingenious it's great quality and I can put my heart and soul behind it but it'll take work and I just like to take the journey with you thank you Lord really appreciate it I would also like to make an offer um I know how to blow this up huge and I'm going to give you 50,000 for 10% this is an extraordinary situation there's no question about it it's such a simple product to demonstrate it's going to work so well on social but guys I I have a strong sense that this is not about the cash coming in so now we turn it back to you what is it that you truly want we understand the goal but what is your decision-making criteria so yeah we you know we have the design done we have the patents we have new products coming out what we don't have is the knowhow for how to best get it out there I have that I've done this who would you rather leave who would you rather have as a mentor for your son Lori or Kevin we all of or multiple or whatever that's that's where I'm trying to get to right because you have a lot of flexibility all the leverage turns back to you because we all know this is a great deal and we all know we can help you sell more there's three components retail and online and Licensing the technology that's your big play I think it's a sports play as well and I've been here 14 years Lori is one of the smartest people um that I've ever met in my life I'll double whatever she has if she allows me the deal I'd be happy to work with Damon he's absolutely brilliant in the licensing field 10% is too much Lori we're essentially giving away the equity for what you guys bring which is to some extent invaluable so you don't want to give away as much Equity that's correct well Mark let me ask you a question would you consider giving more it sounds like what you're saying is you don't want to go past five but if you got three sharks would you give up 10 yes let's do that deal I want in this deal too I I'd love to be in the deal too obviously well I don't want to be left out well why would you give up for all the sharks we all want in this steal what will work for you guys if heaven forbid all five of you could work would work way multi- shark deals typically work someone does the due diligence and then we all figure out what our skill sets are and then we contribute those okay guys why don't you step into the Hall so the sharks can talk this over you can talk it over and we'll do some work here so give us one second okay thank you so what I was suggesting really really simple right it's not the cash he's got all the cash Cas it's the aggregate Equity wow unbelievable okay um so what are you thinking percentage I don't think that we should go more than 15% but come worth it out 15 we all love this deal what's important is putting yourself in their shoes right so we can come in and say right so Lori can get 7% I'll take 3% Yos can take five right that's fine right that's a total of 25% and then what we come back is we each give $25,000 because one problem he has never said he'd even entertain 25% we're going to find out say no unexpected unexpected we we we didn't even prepare for this one no we didn't mark Kenzo come back to the tank guys just before you start What's Happening Here is almost unprecedented in Shark Tank history you know that every single shark wants to back you guys practically never happens here's our offer we'd like to offer you $125,000 for 25% you'll get all five sharks what do you say I think uh I think I can't wait to hear what he says how about 20% you got a deal yes done thanks guys thank you so much love it's a love congratulations conratulations couldn't be happier could be proud of my dad my dad's never I've never seen him get emotional like that I've seen my dad uh really speak from his heart yeah made the moment PR special unbelievable oh my God oh my God I don't know what to say for