![]() ![]() Kevin O’Leary offered $250,000 for 40% but Romy rejected as the equity was too high.Īlthough the pitch didn’t go as planned, Romy is still operating the business. The Sharks were annoyed as it’s normal for entrepreneurs to not take a salary. She revealed the company had $600,000 in debt which included her $100,000 deferred salary. From $1 million in sales, she only made a net profit of $110,000. The presenter revealed her impressive sales, but the Sharks were disappointed with an 11% profit margin. The Sharks were skeptical of the product and they weren’t convinced she had enough medical proof to show it works. She appeared on Shark Tank seeking $250,000 for a 10% equity stake. In 2013, Romy Taormina was already selling internationally but needed to raise capital to keep up with demands. In 2012, the business made nearly $1 million in sales. Apart from moms and hospital patients, she marketed them to boating communities because they were waterproof. In 2006, they were launched under Psi Health Solutions. After researching the market potential and getting clearance from the Food and Drug Administration (FDA), the Psi Bands were released. ![]() She designed her own version of the product and made them to fit her needs. However, Romy wasn’t satisfied with them as they weren’t stylish or waterproof. She used existing acupressure wrist bands to avoid vomiting and nausea. While pregnant, Taormina suffered terribly from morning sickness. In 2021, she tried something new by becoming a program coordinator at Leadership Monterey County, conducting classes and outreach to community leaders. Psi Bands has now been in business for around 17 years. After graduating, she pursued her dream of starting a company. At university Romy became a member of the American Marketing Association. Growing up she felt passionate about entrepreneurship. ![]() Taormina got a bachelor’s degree in business and marketing from California Polytechnic State University. Romy Taormina is a mom of two from Pacific Grove, California. As of 2023, Psi Bands is worth an estimated $3 million. Founder Romy Taormina pitched her product on Shark Tank but wasn’t able to get a deal. The company mainly helps people suffering from morning sickness and motion sickness. Both can be purchased in stores or online ($10 to $15).Psi Bands are acupressure wrist bands that claim to help with nausea relief. Psi Bands are plastic bands with adjustable pressure. Szarka says that stimulating the P6 point can work as well as anti-nausea medications for some patients whose nausea is due to motion sickness or anesthesia.īrands to check out: Sea-Bands are washable elastic bands. Should you try it? Sure-the bands are safe and inexpensive. But older studies showed that they reduced migraine-induced nausea as well as the frequency and severity of nausea in pregnant women. What we know: A 2018 study in the journal Cancer found that these types of bands did not significantly reduce nausea in pediatric cancer patients receiving chemo. ![]() A band maintains steady pressure on your P6 point, located on your inner arm just below your wrist this stimulates the median nerve, interrupting “I’m sick” messages sent between the brain and the belly. What they are: Wristbands use acupressure (pressure is applied to specific points along meridians on the body to keep energy owing evenly) to provide relief. ![]()
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