Thin Ice Weight-Loss Product Line

Adam Paulin
Toronto, ON

The pitch

Adam Paulin from Toronto, ON, pitched Thin Ice Weight-Loss Product Line in Season 10, Episode 4.

Asked for50K for a convertible note
Valuation–implied by the ask
OutcomeNo deal

Offers in the Den

Dragon	Offer	Result
Michael Wekerle	Out - concerned it is really equity disguised as debt, with weak collateral	Out
Jim Treliving	Out - does not believe in the underlying theory	Out
Michele Romanow	Out - doubts long-term viability despite possible short-term Kickstarter success	Out
Manjit Minhas	Out - does not think it is a viable product	Out
Joe Mimran	Out - product not sufficiently tested	Out

Adam Paulin, from Toronto, ON, asked for $50,000 as a loan convertible to equity within three months for Thin Ice, a company developing cold-based weight-loss products including a cooling insole and a cold vest, based on the idea that cold exposure raises core temperature and burns calories. The products are early prototypes, with the founder pointing to a competitor that raised $420,000 on Indiegogo for a similar concept. The loan would fund research to quantify the product's effects, with plans for smartphone compatibility to track weight loss.

Michael Wekerle went out over concerns about weak collateral and the structure being equity disguised as a loan. Jim Treliving, Michele Romanow, Manjit Minhas and Joe Mimran all went out, citing doubts about the underlying science, lack of testing, and limited long-term viability. There was no deal.

Pitch details from CBC’s Dragons’ Den pitch page.