'Shark Tank' Recap: '2400 Expert,' 'CO.Alition,' 'Icy Breeze' & 'Shefit'

This episode of ABC's Shark Tank finds 2400 Expert, CO.Alition, Icy Breeze and Shefit pitching their businesses in hopes that sharks, Mark Cuban, Daymond John, Lori Greiner, Kevin O' Leary and Robert Herjavec take the bait and strike a deal.

Cuban, Greiner, John, O'Leary and Herjavec have made countless deals over the years but this time they are looking for the next best time.

They will have to battle each other out for the best deals after hearing pitches from four new companies.

About Shefit

If you're a female looking for a way to jazz up your workout gear Bob and Sara Moylan's Shefit could be the solution. Shefit is being labeled as the ultimate sports bra according to the couple.

The sports bra is supposed to help women with larger busts function better during workouts.

"As frustration and insecurities grew from our unfulfilling workouts, so did the determination to figure out a solution to this issue.

That's when the quest to create the perfect sports bra began.

With a touch of hot glue, a needle & thread, scissors and several sports bras that didn't fit right, Sara Marie, the founder and CEO of Shefit Inc., concocted the first Shefit sports bra." - Shefit

The ask: $250,000 for 20% equity.

How it went down: The pitch is pretty smooth and Sara seems very enthusiastic and on point. They pass out samples and Greiner and Herjavec notice that it's very thick.

Sara explains that its thick because it has compresses and encapsulates. Sara says it's actually comfortable and they have a patent on their technology.

They have $220,000 in sales in the last 18 months and they have multiple retailers. Sara is the creative, engineering and sales rep and Bob handles overseas suppliers.

They need the money to fund the inventory by enhancing their front end. They can't get their web team to get it right.

Herjavec says that creating a brand new category of womenswear is where they lose him and pulls out. Greiner believes that the tech concerns her because she has seen other products out there. She pulls out of the deal as well.

John says they are never going to create anything new again but he is willing to take a shot.

He offers $250,000 for 33.3% equity. He says he wants the answer right away because he loves decisive partners and the team accepts right away.

About CO.Alition

In a market that is pretty saturate, Casey Lorenzen and Jeff Popp believe that they have the future of backpacks with CO.Alition.

CO.Alition is their line of backpacks that promise strength and versatility but ultimately the decision to invest will rely on just how useful the sharks find the product.

The backpacks do have integrated power supplies and a wireless hard drive.

"Elegant and functional urban backpack designs that can be customized into your ideal Smartpack.

Integrated smart power to charge your devices quickly and a mobile wireless hard drive that works with smartphones and tablets so you'll have a personal mobile workstation that goes everywhere you do." - CO.Alition

The ask: $200,000 for 20% equity.

How it went down: The guys make a great pitch and give the sharks a few samples to test out. The business is only seven months old.

They do have another company in which they made $1.2 million in sales. There is no patent on the backpack and the sharks so it as a problem.

The bags cost $180-$600 and their total revenue is $100,000. Herjavec loves the convenience and asks the guys how they are going to make the product big. They tell him that they want to use the direct sales approach.

John is worried that private labelers can produce the bags. Cuban wants to know if they're so good with their other business, why not focus on that one.

Cuban says if they were good it would have been one company going to new heights and pulls out.

Herjavec sees the same problem and he also pulls out of the deal as well. O'Leary tells the guys what they did was ridiculous and gives them the opportunity to reboot before they are thrown out of the tank.

The guys say they would be willing to combine it. They put both brands on the table for $300,000 and 30% equity. Cuban is still out and Greiner says she doesn't think people will pay that much money for the product and pulls out.

O'Leary says they don't have anything proprietary and pulls out. John is the only shark left and says the biggest challenge he has is that their bag isn't there yet.

He says he is tempted but his gut tells him to pull out. The guys go home without a deal.

About IcyBreeze

The team of Jason Shakleford, Andrew Jenkins and Dave Yonce may have found a cool solution to hot weather with IcyBreeze.

The IcyBreeze product is a cooler that can also be used as an air condition to keep you cool in some of the scorching hot summer days. The product is pretty smart but how will the sharks react to it?

"The driving force behind the IcyBreeze is an innovative design that allows air to be pulled in through unique hidden vents around the top of the unit.

Cold water is drawn up into the sophisticated heat exchanger in the unit's top. Fresh air is pulled into the top and across the heat exchanger, cooling the air drastically." - IcyBreeze

The ask: $50,000 for 5% equity.

How it went down: The pitch was pretty good and very informative. Retail for the cooler is $349 and the sharks gasp after hearing that. It's pretty expensive to make and the sharks don't see impressed.

They have only sold 1700 units but are in 48 Sam's Clubs stores. They project $2.5 million and have over $5 million invested.

The sharks don't buy that they need a strategic partnership over the money. Cuban says that it's hard to recapture success all of the time and pulls out of the deal. John believes that the time that IcyBreeze needs is too much and he pulls out of the deal. O'Leary believes the price is too high and pulls out of the deal as well.

Herjavec says there is no way it will sell on a wide scale for the price and pulls out of the deal. Greiner is worried about the cooler blasting at one person.

She says they don't have enough history and pulls out of the deal as well. The guys move on without a deal.

About 2400 Expert

If there is anyone out there who is chasing a perfect score on the SAT's, Shaan Patel thinks he has the perfect way to do so with 2400 Expert.

2400 Expert is an SAT prep course designed by someone who actually got a perfect score on their SAT's. The question is, is he smart enough to land a deal with one of the sharks?

"2400 Expert is the nation's fastest growing test preparation provider.

We offer 6-week SAT & ACT preparation classes in 20 cities around the country and online -- some are even taught by me! We have students from around the world improve their test scores tremendously (some even get perfect scores themselves), get into top colleges, and win lots of scholarships." - 2400 Expert

The ask: $250,000 for 10% equity.

How it went down: The pitch is very straight forward and it's clear that the money will be used for expansion. They just began offering online courses and they and they have brought in $1.2 million in four years.

O'Leary immediately jumps in because of his experience in the test prep. O'Leary says they need to figure out what the cost to acquire a student is.

Last year the class made over $200,000. Patel is the face of the company and teaches one course a week online. They have an industry leading increase in test scores.

The money will be used to open 12 new locations in big cities. John says he is in the online education space but doesn't see the scalability where he can help him.

John pulls out of the deal. O'Leary believes that Patel is digging a hole by not putting his full potential in the company rather than becoming a doctor.

Greiner believes that the electronic portion is important. She doesn't see herself giving him the money to support the business and pulls out. Herjavec believes it's a great idea but Patel is playing at the business. Herjavec says he can't play a business and pulls out of the deal.

O'Leary says that Patel's biggest problem is that he is not 100% committed. He also pulls out of the deal leaving only Cuban left. He offers Patel the $250,000 for 20% and Patel counters with 15% but is shot down. Patel takes the offer.