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of its principals were hit with lifetime uptick in their business that ensued. Life in the tank
bans from merchant services.
TMR co-founders Jason Reddish and Pinkhasov said he and Reddish were
The company was also ordered to Val Pinkhasov pitched their MCA among approximately 150 small
pay $950,000 in funds debited from solution to five Shark Tank panelists, business owners and entrepreneurs
consumer accounts by a scam artist. As including Mark Cuban, high-profile out of 37,000 applicants to be picked
it did with Process America, the FTC owner of the Dallas Mavericks, and to pitch on this season of Shark
alleged AEC should have known the Canadian businessman and venture Tank. The co-founders provided an
transactions it acquired and processed capitalist Kevin O'Leary. Reddish audition "tape" and then underwent
were fraudulent. and Pinkhasov said TMR's strategy what Pinkhasov called a rigorous
is to offer merchants upfront capital application process that included
TMR says Shark for a percentage of the revenue from financial statement reviews and
background checks. However, when
their bankcard receivables as a way to
Tank exposure then become the processor of all their the co-founders pitched to the "sharks,"
the panelists knew nothing about TMR
electronic payments.
or its MCA product.
worth it The TMR executives initially sought Pinkhasov said the panelists
$250,000 in funding from the "sharks"
for a 20 percent stake in the company. responded positively to their value
iscataway, N.J.-based mer- proposition. "We use common sense
chant cash advance (MCA) Four of the panelists declined the to get [merchants] the money that they
provider Total Merchant opportunity before O'Leary, who need very quickly," he noted. "And
P Resources LLC appeared is known as "Mr. Wonderful" on the payment terms are what they are.
on the Oct. 25, 2013, edition of the the show, agreed to invest $200,000 They can use that money to create
popular venture funding game show for 50 percent equity. Reddish and jobs, by hiring new people, or buying
Shark Tank and walked away with Pinkhasov were initially resistant to equipment – and just help improve
$200,000 in capital and a new celebri- the offer, but finally agreed to take our economy. And that's what [the
ty business partner. One month later, on O'Leary as investor and business panelists] liked − that there was a true
they are pleased with the dramatic partner. necessity in our economy for financing
businesses the way we do."

Reddish added that when Hurricane
Sandy hit the East Coast in October
2012, TMR shut off its MCA program
for merchants who were flooded out
or otherwise incapacitated and unable
to conduct business. Merchants with
bank loans to pay off had a tougher
time. "If you had a bank loan, think of
Network to even get to the person at the back-
Processing all the hoops you had to jump through
The everywhereProcessingNetwork SM
end to work with the business," he
said. "And that's the relationship that's
POS eProcessing Network –
missing right now in the financial
Accounting Enabling Merchant Processing Through world."
123
Payment Gateway Innovation and Support
Customer Hook, line and sinker
Data
Manager No matter what type of payment you want
to accept or how you choose to transact, Despite TMR being chosen by O'Leary
Bill Pay
eProcessing Network is the payment as worthy of his backing, Reddish said
Smart gateway for you. Our PCI-compliant solutions being selected for the show was the
Phones
& services enable you to process payments biggest accomplishment. "I think the
Recurring anywhere, anytime, helping your merchants home run was getting on the show
meet the daily demands required to manage in the first place with no [physical]
Tablets their business efectively. ePN is here to product," he said. "And getting
partner with you and help you establish attention to this industry. It's amazing
Websites strategies for the success of you and your how many business owners still don't
merchants.
Inventory realize this [MCA] is an option."
(800) 296-4810
In-Store
Computers eProcessingNetwork.com On the surface, O'Leary could be
viewed as getting the better of the
eProcessing Network – Cloud-Enabling Payments Everywhere SM deal, as a 50 percent interest in a
growing business can result in a lot of
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