How Not To Pitch Your Business On 'Shark Tank'

On ABC's reality pitch show "Shark Tank," nothing infuriates Cuban more than what he calls "want-repreneurs" - adventurous spirits who like to come up with ideas but don't understand anything about business.

This is exactly who the Sharks came face-to-face with when hopeful Jason Woods and his fiancee Elise came on this week's show seeking $250,000 for a 20% stake in Woods' company, Kymera.

While Woods told the investors about his jet-propelled electric body board Kymera, which combines the light weight of a paddle board with the speed of a jet, Elise demonstrated how to use it.

Woods had the Sharks' attention until Cuban realized that he'd said nothing about Kymera's business model.

• Kymera only has a provisional patent.

• The mold needed to make Kymera boards costs $40,000 to $50,000.

• Woods has never sold a single Kymera board.

• Woods gave his company a $1 million valuation despite having zero sales.

• Woods has put $130,000 of his own money into the company in the last 10 years.

Things got even worse when Woods started blaming Kickstarter for his problems and said he didn't want to sell products out of his garage, but wanted large-scale production.