[Applause] Next into the tank a Perth inventor Who's got a score to set [Music] Hello sharks David lambassa from clever Score Today I'm seeking a two hundred thousand Dollar investment in the international Growth of my business giving you a 25 Equity stake I design develop manufacture and sell Manual scoreboards as you might have Guessed It's people when you think of Scoreboards they think of those big Electronic systems you see Interestingly 99 of all scoreboards are Actually manual systems And very nicely for me there are Thousands of makers of electronic Scoreboards in the world but very few Makers of manual systems that's for me a Very nice niche to slide into Some of you might remember The old painted number plate Even as a kid I remember thinking to Myself gee there must be a better way to Make a scoreboard So about 10 years ago the I invented the Clever School module this is the number One selling module in Australia and Possibly the UK now as well I sell them Individually and I also build complete Scoreboard systems with them these
Systems are also the ultimate portable Branding platforms Retro And companies have been very quick to Realize the permanent low-cost branding Opportunities on offer here with all of My systems I'm assuming the numbers change you're Going to show us how that we will Absolutely go through this now I just Want to confirm something you said it Was subtle but we didn't miss it you Said 200 000 for 25 of my international Business so you're not selling equity in Your existing business is that right That is correct okay we'll get into it Later just show us the product excellent What we'll do now Is a freebie module for each of you to Take home well thanks Mom because Everyone's a winner on the clever School Road Show Thank you Oh yeah that is clever Um I think it's clever hence the name Clever score I love I love the way this Worked by the way really nicely changed Very crisp you see that even a 10 a 10 Year old can handle it no problem it's Really simple Good idea Challenges now for the inaugural Shark Tank basketball shootout challenge I'm Doing it get the new guy up I'm up too
Queensland versus New South Wales Victoria okay mate I'm gonna press you Actually she's taking his shoes off What's that mean And how about you write your names on The scoreboard right here loser l-o-s R Janine be nice Yeah Yeah come on ladies first The inaugural Shark Tank basketball Shootout challenge [Music] I hate that What a shame one to Janine zero to Glenn Ah My daughters would love this they're Netballs up in the air again Oh here we go There we have one h Uh that's very professional okay [Music] It is now sudden death See look at how quickly he's changing The score [Music] All right Oh Happy Gilmore [Music] [Applause] Thank you well done needed the run-up Right so David tell us the numbers on Your domestic business versus International so far Okay I think I think and I'll get to
That I'm not avoiding the question I Consider this approach to you guys to Say you know what my business is Effectively at Ground Zero today so I've Had zero sales no no I have I have sales What am I investing in though because Now I'm confused so I'm investing in a Zero business a startup business what Okay I will try and clarify it as best As I can because I think it's simple and I apologize for my no it's fine okay so Essentially I've been selling and making Those systems for the last 10 years in a Manual Hand by hand fashion okay so You've obviously got sales of your Existing business talk about the Australian business what so we Understand what the opportunities are so My business clever score started about 10 years ago so I've been attacking the Australian Market quite vigorously with That clever score module making handmade Scoreboard sales Sales okay correct okay so in the Australian Market what were they though Tell us roughly my numbers in for clever Scope were about 200 000 a year okay but As I said I also did you make a profit On that 200 000. my profit margins are Good my costs are you my costs on say 200 000 they're about 70 or 80 000. so I Think my consider I consider my margins To be good You know Dave I'm Steve how you doing
Thank you Stephen where are you from Mate I'm from Perth Lovely hey um this is the most confusing Thing about Pitch to me ever Foreign To be honest Mike can you can you Simplify what you're offering Us in 30 Seconds or less otherwise I'm out Because I'm finding your answers Actually quite quite confusing and a Little a little like you're trying to Avoid the question I I'm definitely not Trying to do that but then they might Just simplify it Down Right simplify it Down we're investing in a company that's Going to do what Sell revolutionary scoreboards to every Sport across the globe and in all the Markets that's an excellent pitch you Should stick to that one in future Now you need 200 000 bucks for what That would if if I had a shark to come On board so everybody did be a Discussion that I would have with the Shark but I have plans in terms for Instance I have a very neanderthalic Website at the moment a website with a Very good book so you're going to do Some work on your website how much You're going to spend on your website I Imagine a website would probably be Twenty thousand dollars or so but Depending on the kind of back end that I Want to do again and imagine your
Website for 20 000 bucks 180 000 bucks Left what are you doing with that A discussion that I need to have with Chuck's I'm not pretending that I have All that right okay so this is this is What you need to do mate when you're Talking to investors again yep you'd Have very precise answers as to what You're doing with their money I can't work with you I'm out Dave Lembassa wants two hundred thousand Dollars for 25 of his modular score Board Will he get a bite from one of the Remaining four when you say I want to Take On The World why are you taking out Australia I've got retailers all around Australia I think I've got Australia Handled okay but I this is in my opinion Too big for me to take it Forward Internationally so I really need Expertise if I invest in you though I Won't want you to spend any time in Australia if my money has gone into the International business I want you to Spend all of your time developing International Janine if that was to Become an issue here then I would be an Open discussion okay I'm not a stubborn Person so yes you are Because you're avoiding all these Questions mate this is so good and You're losing every one of us by being Crazy
I'm actually glad Steve's out Because he's missing the point this is a Fantastic product David so just give us One little glimpse of the future about How you're going to use our money to Scale up the business I'm all about Partnerships and ultimately you guys Would have to feel comfortable with me My products and my vision okay I feel I've got something big but I don't know How to take it properly into the International market thank you David Because you're admitting you're an Innovator and an inventor but you're not The business side so you're looking for A shark who's interested in the product Can bring some business discipline Absolutely I think I've got a great Product I need expertise to take this Forward will you throw the Australian Business in too You know what if you any of you guys Were interested then I would absolutely Say okay you know what we structured This that this is the entire world Including Australia as well [Music] The product is brilliant I'm just going Oh how can I how do I you know make a Deal from with you But what you need is not an investor Necessarily you need a working partner You do the inventing because you're Clearly really clever at it but you need
Someone with that business brain to Actually do the other stuff it's not Going to be me for this one I'm out Thanks Julie You're an ideas guy and it's really Great to say I love the Ingenuity I Believe that you've got a great business But what I look at is what investment in Time as well as money am I going to need To make this flight which makes the ask So much higher in terms of what you need To do to get the return on investment I'm out Do you know me David I'm interested I think I can work with you because your Laid-back guy you've put your hand up And said on the chief scientific officer But the business side yeah I'm a little Lacking I need some guidance but I'm Happy to be a mentor International and The Australian business wrapped in and 200k for 50 of the lot oh we've got an Offer That's the offer Excellent I am yet to hear from Andrew Yeah look you've been bashing away 10 Years you've made yourself a living good On good on you but when I partner with An entrepreneur I want to be mentoring But I don't want to run their business For them and unfortunately I get the Feeling with you that you'd need a bit More than a couple of hours a week from
Me I'm out Good luck to you [Music] So Glenn's reduced your valuation by Half and asked you to include the Australian business Right now my guts Glenn saying that Actually yeah I could work with you and Working with someone is so important in A business as you know okay but I'm just Thinking to myself I'm not comfortable Giving half of my business away right Now here on the Shark Tank okay [Music] David if I can give you some advice I Will take all your advice line a bird in The hand literally this means that as of Today your business is kick-started it's Going you get somebody who's grown a Massive Enterprise who understands People who understands distribution and Wholesale he knows what he's bringing That's why he's made the play So he's bringing dollar but he's also Bringing himself and that has value Do that don't do don't don't lose this Deal Let's go Glenn 200 000 for one third of My business Absolutely no So it's 200k 50 and we'll throw in a 75 000 salary for you [Music]
What are you taking as a salary now Less than 75. ah I always go with my guckling I want to Work with you and I don't know what will Happen after today okay so something may Or may not happen to you okay that Sounds like a no At 50 I'm sorry Glenn I want expertise I want you on board Okay but I can't accept 50 of my Business thank you David I'm out Okay we're all out I appreciate your Time guys it's been very good luck mate This is fantastic good luck thank you Very much Feeling like maybe there's a potential Opportunity there for a good deal you Know what I just didn't feel comfortable At giving half of my business away
