Calling $ 5 million to build a Facebook and Amazon caliber company, but “saying no books, no evidence”, LASS Group CEO was rejected by all the Shark because of unreliability.

Startup claims a customer is NASA, Airbus, Mercedes, want to call $ 5 million

” NASA, Airbus, Mercedes … are companies that used our technology ,” Tommy Pham said as he entered the negotiating room.

Tommy is an Australian overseas Vietnamese, introducing himself as CEO and Co-founder of LASS Group – an Australian startup in Australia.

According to the startup’s presentation, LASS Group’s technology is a tracking system, and LASS Group’s customers are aiming to serve the management of the Governments of the world.

Explain the mechanism of this system, Tommy for example if Shark Lien is a foreigner who has just entered Vietnam, then moved to the hotel, then to Vung Tau, if CCTV is covered, the system identifies Be instant Shark.

Come to Shark Tank Vietnam, Tommy wants to call for US $ 5 million for 10% of LASS Group. This terrible number makes the Shark “stand up” for a few seconds.

I want to go back to Vietnam, want to build a company to stand on par with Facebook and Amazon later

The reason needs $ 5 million, Tommy said he plans to choose a city to set up a company there, such as Phu Quoc, for example, will set-up a system for this unit to track ships or tourists. .

” I want to go back to Vietnam, want to build a company to stand on par with Facebook, Amazon ,” Tommy said.

About the product, Tommy Pham said, in 2018 the system could track 1 million objects. Better than Palantir – the unit that provides solutions for the US military to spy on the globe. Tommy Pham affirmed: ” If our system is based on cities in countries, there is no kidnapping, find my everything “.

Startup added that some major partners are waiting to cooperate with LASS Group as a trial because the product is not yet sold. Explaining the reasons for not commercializing the product from Shark Dzung Nguyen, Tommy Pham said the business does not want to go to the mere manufacturing trade route that LASS Group embraces ambition to penetrate into the cities, selling products to the Government to increase their value.

Regarding the team, Tommy Pham presents himself outside as CEO, the company also has the participation of two co-founders, brothers and sisters Vo Ba Ngu and Vo Ba Tuong – the recipient of the Australian Eureka Award in the field of security. National security and defense in 2010 (Tommy shows them photos on the screen). In terms of structure, each shareholder holds a 20% stake in the company, the remaining 40% is used to call for capital from investors.

Distraught about calling for investment “households” to eat roses, overseas Vietnamese insist: I do not waste time flying to Vietnam to play with the Shark “

Draw a bright prospect if the product is applied in the world, but startups seem embarrassed when asked by Shark Pham Thanh Hung to prove the ownership of technology or product trading authorization agreement.

– Do you bring the License (copyright), Pattern of 2 people on the screen here?

– I have everything. If the Shark signs a contract with you, the Shark will see it all. But if the Shark does not sign, please allow me not to show the Shark any slippery.

– How can Shark believe that I have the consent of these two people? Can you call these two people? … The image can be downloaded online and printed. Describe that a person with a normal imagination can say it …

“Having to work together must have faith. I have no time to fly to Vietnam, how many rounds to play with the Shark”, CEO LASS Group Tommy

Tommy then made a phone call, but said the other party didn’t pick up.

” You only hold 20%, do not have the right to be empowered, there is no evidence to prove that the other two agree for you to deal. Or if you are just a person if you call for $ 5 million today, you can enjoy flowers Shark Hung 20%? “, Shark Hung questioned.

” That question is very good. But working together must have faith. I don’t have to waste time flying to Vietnam, how many rounds to play with the Shark “, Tommy frankly.

” The Shark sitting here is not to play around, they also want to find out the real investment opportunities. Can you prove you have technology, and that technology must be realistic? “, Shark Dzung Nguyen questioned.

Waiting for startups to prove their words but unsuccessful, Shark Do Lien and Shark Nguyen Ngoc Thuy shook their heads and refused to accept the project of LASS Group unreliable.

“My evidence is immense, I can’t prove it in a few minutes. I think the DD round (business appraisal) has enough time to confirm what I said ,” Tommy continued. explain.

” Saying that there is a book, there is no evidence. Here, the book is not available, it is not true, only your words. On such grounds, I decided not to invest, ” Shark Viet said.

Originally a “shark” that favored future technologies, Shark Pham Thanh Hung also rejected LASS Group because it judged that the technology was dangerous beyond imagination. Shark Hung said: ” Actually, I also try to create an opportunity for you to prove the technology, own the copyright, intellectual property, inventions as well as its applicability. Don’t know other Sharks. What do you think, but I personally don’t dare show on TV that we all shake hands with each other to develop this technology .

Concerned about the LASS Group’s financial indicators and product commercialization issues, “Dzung Nguyen” tech shark made an assessment: ” I deliberately listen to see who your customers are, do Why do you want to commercialize, but you said 7 years has not been commercialized yet because you do not want to do that but we are investors, we do not want to do that, do not know how to wait “.

The call was a failure of the five sharks’ head shaking.