Vital Nation KPS600

Carl Hayes & Rob Magri
Burlington, ON

The pitch

Carl Hayes & Rob Magri from Burlington, ON, pitched Vital Nation KPS600 in Season 10, Episode 19, asking the Dragons for $150K for 10% of the company.

Asked for$150K for 10%
Valuation$1.5Mimplied by the ask
OutcomeDealwith Jim Treliving
Final deal$150K for 25%valued at $600K

Offers in the Den

Dragon	Offer	Result
Manjit Minhas	Out - not convinced given lack of finalized retail deals despite Costco/Canadian Tire interest	Out
Michael Wekerle	Out - concerned about patent-pending status and high valuation on future sales	Out
Michele Romanow	Out - did not want to finance inventory in the hockey space	Out
Joe Mimran	Out - felt valuation was too far out of line	Out
Jim Treliving	Initial offer of $150,000 for 30% equity (~$500,000 valuation); accepted a counter of $150,000 for 25%	Accepted

Carl Hayes and Rob Magri, from Burlington and Oakville, Ontario, pitched Vital Nation's KPS600, a Kevlar-based protective hockey sock designed to prevent skate-blade lacerations to the calf, lower leg and Achilles tendon without limiting range of motion, asking $150,000 for 10 percent of the company. The socks retail for $44.99 for junior and intermediate sizes and $49.99 for adult, with purchase orders totalling about $120,000 from Forzani Sports/Sport Chek and Pro Hockey Life, plus a purchase order from an NHL team and trials with three others; the founders projected $1 million in year-one revenue and cited active discussions with Canadian Tire and Costco Canada.

Manjit Minhas, Michael Wekerle, Michele Romanow, and Joe Mimran all went out, citing an inflated valuation given sales not yet proven at retail and the patent-pending status of the product. Jim Treliving initially went out too but was brought back and offered $150,000 for 30 percent; after the founders secured a $500,000 line of credit against purchase orders, they countered at $150,000 for 25 percent, which Jim Treliving accepted.

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