Revolights: A Wheel of Fortune?

Kent Frankovich, mechanical engineer and co-founder of Revolights, walked into the Shark Tank seeking an investment of $150,000 for 10% of his business. Revolights are revolutionary bike lights which mount to the front and back tires to always provide safety and visibility for both the rider and the cars sharing the road.
Revolights has two patents, no real competition, and sells for $229 retail.

According to Frankovich, 70% of night bike collisions are due to poor side visibility. Revolights are designed to prevent these accidents by synchronizing light with the bike's speed. Furthermore, due to Revolights' circular design, they are not easily stolen and don't just fall off. In under 12 months, Revolights has sold over $600,000 of the product, though it has yet to turn a profit.