Ashes-to-Diamonds Startup Scores on ‘Shark Tank’

[PinkDiamond]

Oh good grief, Mark Cuban got taken for 600 grand on this one. Hope he reads this article and sees the link to the Jewelry Adjuster's report with the free e-book, but even if he does, it's too late to back out now.

Apparently somebody messed up the figures when they printed this...

It costs Eterneva between $3,000 and $5,000 to grow the diamonds, and they charge between $3,000 and $20,000, with the average order being $8,000, CNBC said.

... because if they're really selling some for what it costs to grow them, somebody's head's going to roll, only they won't be laughing.

Ashes-to-Diamonds Startup Scores on ‘Shark Tank’
October 15, 2019 by Rob Bates



"An ashes-to-diamonds company netted a big investor on the Oct. 13 episode of Shark Tank—billionaire Mark Cuban.

Austin, Texas-based Eterneva says it changes carbon from people’s remains into lab-grown diamonds using the high-pressure high-temperature (HPHT) method.

While other companies have offered similar services, cofounder Garrett Ozar said on the ABC show that his company does three times more business than its competitors, according to a CNBC summary of the show. He projects it will do $27 million in sales this year.

“What we do is grow real diamonds from the carbon in someone’s ashes,” he said. “But really, we’re in the business of celebrating remarkable people. Our diamonds give you something positive to look forward to.”

Ozar and cofounder Adelle Archer originally wanted the “sharks” to invest $600,000 for a 5% stake in the company—reflecting a $10 million valuation set by prior investors. But, after a frenzied round of negotiations—accompanied by ominous music—Cuban agreed to invest $600,000 for a 9% stake in the company. ... "

I cut it off at the video since I can't embed it.
https://www.jckonline.com/editorial-art ... hark-tank/

Here's the link to the Cremation Diamond Report's free e-book:
https://cremationdiamondreport.com/index.html

[SwordfishMining]

Well, since to quote Wikipedia "Cremated remains are mostly dry calcium phosphates with some minor minerals, such as salts of sodium and potassium. Sulfur and most carbon are driven off as oxidized gases during the process, although a relatively small amount of carbon may remain as carbonate." I have no idea how they are getting much usable carbon from ashes cheap. Couldn't we just blow glass or make china with us easier? https://www.cremationsolutions.com/crem ... s-and-urns or such?

[PinkDiamond]

Yes, there are better ways to memorialize loved ones. RJ dedicated the first part of the chat last night to this, and put out this newsletter today. This is a synopsis of the pdf file that is linked at the end of the newsletter. I also have another article RJ showed us last night for you.


October 16, 2019

Investigation of Claims by Eterneva Ashes to Diamonds

Purpose of Investigation

In Episode 3 of Season 11 of ABC’s Shark Tank television program, Eterneva appeared in an effort to raise money and gain a partnership for their cremation diamond producing company. Shark Tank member, Mark Cuban, completed a deal with the owners of Eterneva. Based on my previous report: Cremation Diamond Fraud Report, first published in 2018, I have been asked by consumers and the diamond industry to investigate specific claims made by Eterneva in the Shark Tank broadcast and the Eterneva website. Below is a synopsis of the report. The full report is available via PDF online reading or download at the end.

Synopsis

I researched Eterneva's claims for hours last night. Of particular interest was their statement:

"While much of the elemental carbon burns off during cremation, there still remains carbon in bones called carbonates, which is the carbon we’re isolating from all other elements. 0.5-4% of remains are made up of carbon and it takes us many weeks of work to purify and extract it."
Eterneva website

During the course of my research, I found six studies related to elemental analysis of human bone, including living bone with tissue and dry bone with no living tissue. There is also an in-depth study on the effects of burning of bodies, in cremation and disasters, from the University of Montana.

The full report link is below, but for those who want the Cliff Notes edition here it is from the U of M:

A body goes through 5 basic stages while burning in a cremation furnace. At 750 degrees F about half of the carbon and nitrogen leaves through burn or gas. At 1115 degrees F the amount of carbon in a body is virtually nil. The soft tissue carbon burns first in the fire. At the upper end of the heating temperature, the residual carbon joins with other elements and leaves the cremation chamber as CO2 gas and other gases. No carbon remains. A graphic from the actual report is below:



When the ashes turn white (which is what is delivered to the loved one) it contains nothing but the primary constituent of "hydroxyapatite" in the shape of the bone. There is no carbon left. The bones are then ground to powder, put into a receptacle and given to the family.

Eterneva's claims of .05 - 4% carbon in cremation ashes are false, based on the independent scientific research I found.

The claim of carbon in hair is covered in the full report whose link is below. The final report is 9 pages and has graphs and charts included.

I personally find the bogus claims of Eterneva to grieving loved ones to be infuriating. But I am just the investigator. The link is below:

An investigation into Claims by Eterneva Ashes to Diamonds
https://instituteofappraisal.com/Invest ... amonds.pdf


Robert James FGA, GG
President, Insurance Institute of Jewelry Appraisal Inc.
a 501(c)3 Non-Profit Education Organization
Texas Department of Insurance Property and Casualty Adjuster License #1300433


©2019 Jewelry Adjuster. ALL RIGHTS RESERVED. We encourage sharing and caring throughout the industry as long as all copyrights are left intact. The JewelryAdjuster logo is a United States Trademark of JewelryAdjuster.com.

IIJA
Insurance Institute of Jewelry Appraisal Inc.
PO Box 1727
Helotes, TX 78023


Mark Cuban-backed ‘cremation diamond’ company is a scam, experts say

By Emily Kirkpatrick
October 15, 2019 | 2:32pm


Mark Cuban Getty Images

"Mark Cuban should have said “I’m out” on Eterneva.

On Sunday night’s episode of “Shark Tank,” the billionaire investor put his money behind the company that claims to turn the ashes of deceased loved ones into diamonds, offering it $600,000 for a 9% stake. But according to a recent industry report and diamond expert and gemologist Grant Mobley, the company and its claims are actually totally fraudulent.

“It is a shame to see that Cuban agreed to invest in Eterneva,” Mobley told Page Six Style exclusively. “Companies like Eterneva that claim to make synthetic diamonds out of human ashes have been around for more than a decade. But after further research into the process, it has become well known within the jewelry industry that these companies are nothing more than a scam, which is why investments have come from outside the jewelry industry.”

Continued Mobley, “While these companies may be manufacturing synthetic diamonds that look similar to natural diamonds, they are not using ashes from your loved ones to do so. In fact, the carbon that is left over from cremation is not near enough to produce a synthetic diamond and not in the correct form.”

Possibly worse, he added, is ... "

https://pagesix.com/2019/10/15/mark-cub ... perts-say/