Hargitt Marine Services
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 9, 2014
Asking For:
$250,000 for 25%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Mariposa Treasure is a treasure hunting venture seeking investment to salvage copper, silver, and gold ore from the Mariposa shipwreck off the coast of Alaska.
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Background Story
Mariposa Treasure, led by founder Mark Hargitt, is an ambitious venture rooted in the rich history of maritime exploration and treasure hunting. Based in Alaska, the company’s journey began with Hargitt’s deep-seated passion for nautical history and his extensive experience in salvage operations. With 21 years spent in the merchant marines and a lifelong fascination with the sea, Hargitt’s background uniquely positioned him to pursue his dream of uncovering lost treasures hidden beneath the ocean’s depths.
Inspired by his nautical heritage and driven by a relentless pursuit of adventure, Hargitt embarked on a quest to uncover the secrets of the Mariposa shipwreck off the coast of Alaska. Through meticulous research and determination, he secured exclusive mineral rights to the wreck, laying the foundation for Mariposa Treasure’s ambitious salvage operation. Hargitt’s vision for Mariposa Treasure was not merely driven by the promise of riches but by a desire to preserve and commemorate the historical significance of the lost vessel.
With a firm belief in the importance of maritime heritage, Hargitt assembled a team of experts and set out to recover the valuable minerals and artifacts hidden within the sunken ship. Mariposa Treasure’s journey is a testament to the enduring allure of maritime exploration and the indomitable spirit of those who dare to venture into uncharted waters in pursuit of lost treasures. With Hargitt at the helm, the company continues to push the boundaries of possibility, driven by a passion for adventure and a reverence for the mysteries of the sea.
The Product
Mariposa Treasure’s product revolves around the extraction and recovery of valuable minerals and artifacts from the Mariposa shipwreck off the coast of Alaska. The venture employs specialized equipment and techniques to salvage copper, silver, and gold ore, along with other valuable artifacts, from the sunken vessel.
The core of Mariposa Treasure’s operation lies in the innovative underwater vacuum cleaner system, known as an “eductor.” This technology enables efficient and precise extraction of minerals from the shipwreck site, minimizing disturbance to the surrounding marine environment.
Customers interested in supporting Mariposa Treasure’s endeavor can contribute to the venture’s success by investing in its operations. While the recovered minerals and artifacts are not available for direct purchase, investors have the opportunity to be part of an exciting and potentially lucrative treasure hunting venture.
The price of investment varies based on the amount of equity offered and the funding required for operational expenses. Investors can engage with Mariposa Treasure through direct negotiations or investment platforms, aligning their financial support with the company’s mission to uncover lost treasures and preserve maritime heritage.
Mariposa Treasure’s product offering extends beyond mere financial returns, offering investors the chance to be part of a captivating journey into the depths of history and adventure. With its innovative approach to salvage operations and commitment to responsible exploration, Mariposa Treasure stands as a beacon of discovery in the world of maritime archaeology.
How It Went
The company’s position before Shark Tank
Mariposa Treasure, led by founder Mark Hargitt, has made significant strides in its mission to salvage valuable minerals and artifacts from the Mariposa shipwreck. The company’s health and position are buoyed by Hargitt’s extensive experience in salvage operations and his exclusive mineral rights to the shipwreck site, granted by the state of Alaska. As a relatively niche venture in the realm of treasure hunting and maritime archaeology, Mariposa Treasure has forged partnerships with equipment suppliers, salvage experts, and maritime historians to support its operations.
While Mariposa Treasure does not have traditional wholesalers or customers in the conventional sense, it relies on investors and supporters to fund its operations. Funding for the venture is primarily sourced through investment rounds and crowdfunding campaigns, with interested individuals and organizations contributing capital in exchange for equity or sponsorship opportunities. The company’s financial performance is subject to the unpredictable nature of salvage operations, with potential profits contingent on the successful recovery and sale of valuable minerals and artifacts.
Mariposa Treasure’s organizational structure is characterized by a lean and agile approach, with Hargitt serving as the captain and driving force behind the venture’s operations. The company relies on a dedicated team of experts and advisors, including maritime archaeologists, salvage divers, and legal professionals, to navigate the complexities of salvage operations and ensure compliance with regulatory requirements. Despite the inherent risks and uncertainties associated with treasure hunting ventures, Mariposa Treasure remains steadfast in its commitment to uncovering lost treasures and preserving maritime heritage.
The Negotiations:
In the Shark Tank negotiations, Mark Hargitt presented Mariposa Treasure’s ambitious venture to the Sharks, seeking a $250,000 investment in exchange for a 25% equity stake in the company. Despite Hargitt’s compelling pitch and extensive experience in salvage operations, the Sharks expressed concerns about the viability and profitability of the treasure hunting venture.
Kevin O’Leary questioned the uniqueness of the opportunity, noting the abundance of competitors in the treasure hunting industry. Daymond John and Barbara Corcoran were intrigued by the romance and adventure associated with treasure hunting but ultimately decided not to invest due to the significant risks involved. Robert Herjavec, an avid diver with a passion for maritime exploration, expressed genuine interest in the venture but ultimately opted out, citing the high costs and uncertainties associated with salvage operations.
Lori Greiner and Mark Cuban did not participate in the negotiations, leaving Hargitt without a deal. Despite the Sharks’ hesitation, Hargitt remained determined to pursue his treasure hunting endeavors and expressed gratitude for the opportunity to present his vision in the Tank. Overall, the negotiations highlighted the inherent challenges and uncertainties of treasure hunting ventures, with the Sharks ultimately deciding not to invest due to the perceived risks and lack of confidence in the projected returns.
