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'Shark Tank': Why did Rule Breaker not get a deal? Fans say Nancy Kalish's $1.6M debt will leave her 'homeless'

Neither the sharks nor fans were optimistic about the future of Rule Breaker Snacks after hearing that the founder Nancy Kalish has taken a huge amount in loans to fund the company

Nancy Kalish, the founder of vegan snacks company 'Rule Breaker' entered the tank with a bright smile and bundles of optimism. This New York-based entrepreneur was seeking $400,000 in exchange for a 10% stake in her company that makes vegan and allergen-free brownies and blondies. During her pitch, Nancy emphasized how her cookies were different from the other "healthy cookies" available in the market. 

She brought out a huge board with No written on it and began throwing ingredients used in other healthy cookies, such as flour, eggs, butter, etc. She then claimed that her cookies have none of those ingredients, and brought out a bowl of chickpeas, and revealed that they were the first ingredient in her cookies.

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When the sharks looked a bit hesitant at the idea of having a cookie made out of chickpeas, the entrepreneur assured them that they wouldn't be able to tell the difference due to the chewy and soft texture.

Turns out she was right as all the sharks except Daymond John really enjoyed them. Then the topic of numbers came up. Nancy spit out some impressive sales numbers that piqued the interest of all sharks. However, when she was asked about her profits, the entrepreneur admitted that she didn't make any money from the sales and that the company would break even only the next year. 

The sharks were then curious to know how much she invested in the company and how she was funding it. Nany then shocked the sharks when she revealed that she invested $1.6 million of her own money into the firm.

She then explained that she took a few loans including a home equity loan. The sharks were mortified on hearing the huge mountain of debt that lay ahead of her. One by one all the sharks backed out of making a deal with her stating she had to first tackle the debt before going any further.

Fans too seemed to agree with the sharks and weren't very optimistic about the company's future. A fan tweeted, "#SharkTank @kevinolearytv almost crossed but that debt is SERIOUS. She need to hope for BIG things after the pitch."

Another fan wrote, "I don't even have a suggestion for what rule breaker should do, because she has big debt problem. #SharkTank." "She needs to stop selling cookies and get another job or two. To get out of debt accrued making cookies #SharkTank," suggested a fan.

Another fan commented, "She's gonna sell millions of cookies and be homeless. #SharkTank." "I think once you put as much money in as she did, you don't have a choice but to keep trying even if it's an uphill battle. #SharkTank," pointed out a fan. "This company is a money pit. Tough one!! #SharkTank," declared a fan.

'Shark Tank' Season 12 airs every Friday at 8/7c on ABC.