The HydroFlyer

Jerry McArthur and Wendy McArthur, from Pemberton, BC, pitched HydroFlyer, asking for $1 million for 10%. The product is a motorized personal watercraft combining a jet ski, motorized surfboard and eFoil, reaching speeds up to 50 kilometres per hour, using a lithium battery and brushless motor, priced at $15,000 with about a 300% markup; the founders had raised $600,000 previously at a $5 million valuation and had partners in Australia providing foil technology. Ownership was split with the founders holding 44% each and their technology partners holding 12%, and the company had invested $200,000 to $300,000 of the founders' own money, with no confirmed pre-sale payments yet despite a projected $3 million in revenue for the year.

Michele Romanow initially offered $1,000,000 for 20% plus a 10% royalty until double her money back, Manjit Minhas went out due to unfamiliarity with the industry, and Vincenzo Guzzo went out citing the high valuation relative to sales needed. Wes Hall offered $1,000,000 for 25% plus a 5% royalty until double his money back and a $500,000 line of credit, and Arlene Dickinson and Michele Romanow joined that offer instead of her original one; the founders accepted the joint offer from Wes Hall, Arlene Dickinson and Michele Romanow.

The HydroFlyer is still operating and sells through its website.