TrapTap Inc.

Bryce North, Adam Tsouras and Gord Parke, from Winnipeg, MB, asked for $500,000 for 25% of TrapTap Inc., which makes a dashboard device that alerts drivers to red light cameras, school zones, speed limits, and police radar traps using crowd-sourced and online data. The device retails for $179 USD and costs about $40 to manufacture. The company raised $750,000 through a Kickstarter campaign, fully delivered the product by the end of January, and users had driven over two million kilometers with the device; ownership at the time of pitching was split among six shareholders but the founders could not fully account for the percentages, which only added up to 85%.

Jim Treliving offered $500,000 for 25%. Michele Romanow offered $500,000 for 25% with a promise to help raise further funding in the Valley if the business performed well in six months. Joe Mimran went out, citing that two strong offers were already on the table. Michael Wekerle went out over the shareholder math discrepancy. Manjit Minhas went out, saying he was following his gut. Arlene Dickinson offered $500,000 for 25% plus a 5% royalty until her investment was returned. The founders accepted Michele Romanow's offer of $500,000 for 25%.

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