Forktula

Josh Lindsay and Oliver Sauvé, from Prince Edward Island, asked for $25,000 for 25% equity in Forktula, a food-grade silicone accessory that slides onto a fork to turn it into a spatula, allowing users to scrape plates clean. Made in China, the product sells online for about $8 for a four-pack, with a landed cost of 90 cents per four-pack. The company had sold 16,000 units for about $27,000 in revenue over three months, driven partly by a Kickstarter campaign that raised $11,000 and viral videos that generated over two million views and spikes in online sales.

Arlene Dickinson called it a good novelty item but not an investable business and went out, as did Jim Treliving, who offered instead to place a promotional order without taking equity. Manjit Minhas felt it did not solve a real problem and went out. Vincenzo Guzzo offered $50,000 for 50% equity plus right of first refusal on future products, while Michele Romanow offered $25,000 for 25% equity with a 10% royalty and the same right of first refusal. Josh Lindsay and Oliver Sauvé accepted Michele Romanow's offer.

Forktula appears to have closed. Its products may no longer be available.