Joe Moore has created a way to gain extra protection against allergens, pollutants, and viruses. He says his stick-on nasal screens will help those who are exposed to contaminated air. Will he get a deal on
If you’re short on time, here’s a quick overview of what happened to First Defense Nasal Screens after
First Defense Nasal Screens appeared on
|Kevin O’Leary, Daymond John, and Mark Cuban
|Accepted deal of $750,000 for 30% equity with 10% royalty in perpetuity
|$4 million for 100% equity and a 10% royalty in perpetuity for Joe
Shark Tank First Defense Nasal Screens Update
- Entrepreneur: Joe Moore
- Business: Lightweight nasal protection against allergens, viruses, and pollutants
- Ask: $500,000 for 10% equity
- Result: $750,000 for 30% equity with 10% royalty in perpetuity
- Shark: Kevin O’Leary, Mark Cuban, and Daymond John
Joe brought his company and product First Defense Nasal Screen to
First Defense Nasal Screens are a new revolutionary light weight, non inserted, non intrusive, almost non visible, hypo allergenic, self adhesive screen that covers the nasal passage and filters the air we breathe.
Joe shared that by sticking the filters over the nostrils, you can reduce the inhalation of harmful substances by up to 99%.
Each unit wholesales for $0.60, and at the time of filming, he’s sold 1.7 million units. In addition to this, he has a purchase order from the United Arab Emirates for $8 million, to be supplied over the next six years.
With such a large order, Joe needs an investment to help with manufacturing. Robert Herjavec asks why he doesn’t just go to a Big Pharma company to license it, and Joe says he tried but failed.
At this point in the pitch, Barbara Corcoran shares her concerns over buyer education. She thinks it will be too hard, so for this reason, she is out.
Despite having one shark out, Joe receives several offers. First up, Kevin O’Leary offers $500,000 for 20% equity and a 15% royalty until the investment is recouped.
Next, Daymond John offers $800,000 for 30% equity, plus a 10% royalty.
Then, Kevin takes that as a challenge and offers $1 million for the whole company, but Joe says no. Mark asks if there is a number he would take for the whole company, and Joe says he’d need a 10% royalty.
Even so, he ideally wants to remain part of the company because he is passionate about it. At this point, Daymond has a new offer of $1 million for 30% equity, plus 10% royalty until the investment is recouped.
This causes Robert to offer $2 million for the whole company, along with Joe’s 10% royalty. When Joe says no, Robert offers $4 million, which makes this the highest offer in
Joe counters back at $5 million, but Robert says no, and goes out. As the negotiations continue, Kevin asks Joe to step out for a moment while he discusses a deal with Daymond and Mark.
When Joe returns, Mark lays out the triple-shark deal: $750,000 for 30% equity and 10% perpetual royalty. Joe accepts the deal, and First Defense Nasal Screen walks away with a deal!
Keep reading our First Defense Nasal Screen update to find out what happened following
Our First Defense Nasal Screens update found that the deal did not go through. Despite this, the exposure made the company a huge success around the world and it is now worth an estimated $50 million.
First Defense Nasal Screens has gone on to become one of the most successful companies to be on
Our First Defense Nasal Screens update research found that they have worldwide licensing and distribution contacts and patents in more than 50 countries.
In addition, on the First Defense Nasal Screen website, you can buy a 1-pack, 4-pack, or 12-pack. They also offer a monthly auto-ship service.
Products are also available on Amazon, and they have great reviews from hundreds of happy customers.
Would you like to read about the other companies that appeared in Season 2 Episode 2? Follow the links below to find out every detail.
For even more on companies and products, be sure to stop by our Season 2 Products Page before you go!
Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!