This week, co-host George Zaidan meets with Hawaiian inventor Yancey Meyer of Waveskate. Meyer was inspired to create the amphibious board in order to produce endless possibilities for those who like to engage in both sports. He can no longer afford to create additional prototypes.

Waveskate is a new take on two old favorites. The machine is partially a skateboard that transforms into a surfboard. According to their Kickstarter campaign, “The Waveskate blends the essence of surfing, accessibility of skateboarding and the carving speeds of snowboarding into one unstoppable fun machine.” The two-in-one sporting device also enhances balance, makes transportation simple and is amazingly fun.

Zaidan gives it a spin and says it’s easy to ride, but wonders how easy it converts. The wheels and screws easily come off and you have a surfboard, complete with fins. However, there’s no place to store the wheels while surfing, a huge problem.

Meyer has spent approximately $25,000 of his own money on Waveskate, and has since declared bankruptcy. Meyer and his wife each work two jobs and their three children share one room. He hopes to sell the Waveskate for $400 and for it to be sold in specialty shops. He envisions the age range beginning with young kids, but Zaidan questions whether parents would be willing to spend that much on a board for their children. Zaidan sees it as a starter board for kids and selling it for much less.

Meyer adds that the market could be millions of people, but with no exact number, Zaidan becomes frustrated. He is seeking $40,000 for 60 percent from an investor, which he says is based on his family’s needs. But Zaidan says he could be undervaluing both his product and himself.

Taking the device to Bluefish, Zaidan reiterates the concerns that go along with the transformation. The new prototype eliminates the screws and bolts, replacing them with sliding trucks with a completely smooth design and easy snap-in fins for the surfboard.

They put it to the test at Venice Beach with both professional skaters and kids. The professional riders say it rides smoothly and they would definitely buy it. The kids think it’s a good training tool, making it a fun way to engage in both sports and practice their balance. They’re also very easily able to transform the board. On the surfing side, a pro surfer calls it “surfable,” but says a little more weight could be added.

Meeting with their investors Tony Finn of Liquid Force and Jim DeBetta of DeBetta Enterprises, complete with a business plan in hand, Meyer is seeking $700,000 for 30 percent equity. Finn calls the convergence of the two sports “cool” and says it’s a great name. However, he wonders if one board can be both a great skateboard and a great surfboard. DeBetta says he hasn’t seen anything like Waveskate and wonders about the price point, which would be just over $300 for the standard board and $160 for the junior version.

DeBetta wants to get it in stores and online and hopes to get it picked up by everybody. Finn sees it as more of a toy and not a high-end product, so goes out. DeBetta likes it and offers $200,000 for 10 percent equity. He accepts.

“Make Me A Millionaire Inventor” works to turn a million dollar idea to a million dollar invention. Hosts and engineering experts George Zaidan and Deanne Bell find entrepreneurs with revolutionary ideas, take a look at their prototype and help take the product to the next level. According to CNBC, “Top engineers scour the country looking for amazing ideas they’re convinced can make big money. They’ll track down the inventors and give them a second chance to bring their ideas and dreams to life.” The hosts also have the opportunity to hear their pitch before taking the product to an investor, as well as connect with the inventor by hearing their backstories.

“Make Me A Millionaire Inventor” airs every Thursday night at 10 p.m. on CNBC.

Would you try the Waveskate? Sound off in the comments section below!

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