Entrepreneur: Kevin Flannery, from Cary, North Carolina.
The Pitch: WiSpots is the "future of waiting patiently". A "patient interaction center" for hospitals and waiting rooms. These stands house tablets for Internet and hospital based tasks.
Asking: $1.2 million for 10% equity.
Summary: Flannery has mortgaged his home twice, dumped his kids' college funds, maxed out his credit cards to keep this business alive.
It costs $9,000 for each stand. It's "paid for by the doctors".
Robert thinks no doctor would pay for it. Flannery shoots back, saying he has doctors who have signed contracts for the pedestal, if he can secure advertisers so the machine pays for itself.
Robert asks slyly if there's another device a person can use to check their email. Flannery tries to fire back, but Robert does not buy it.
Kevin makes an analogy to dollars being soldiers. He wants to see his soldiers take prisoners and come back to him. He says Flannery is sending all his soldiers off to die.
Robert says he should take care of his family first, and that he should not cross the line between believing and being a fool.
Product: The original domain at www.wificiency.com is now gone. His new domain for WiSpots is here, at http://www.wispots.com/. His success is likely in question, but the site is still up. Who can say for sure where he is at... Anyone have ideas?
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