�In Season 12, Episode 22 of Shark Tank, entrepreneurs Gene and Keidy Palusky presented the XTorch, a solar-powered flashlight that also functions as a lantern and phone charger. They sought an investment of $150,000 for a 10% equity stake, valuing their company at $1.5 million. �
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During the pitch, the Paluskys highlighted the XTorch's durability, ability to hold a charge for up to three years, and its mission-driven approach of donating 25% of profits to global non-profit organizations. The product retailed at $55.95, with a production cost of $18.50, anticipated to decrease to $14 in future manufacturing runs. �
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The Sharks expressed concerns about the lack of patents and the competitive landscape of similar products. While most Sharks opted out, Robert Herjavec offered $400,000 to purchase the entire company. The Paluskys countered at $1 million, leading Herjavec to increase his offer to $500,000. However, the Paluskys declined, and no deal was finalized. �
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Post-show, XTorch experienced a surge in demand, selling out 1,400 units within 24 hours of the episode airing. The company continued its philanthropic efforts, donating thousands of units to non-profit organizations worldwide. As of recent updates, the founders have decided to retire and close the business due to health issues and shifting priorities. �
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