Authorities have identified a body found floating in the Schuylkill River in Philadelphia as 58-year-old Philip Reitnour.

Reitnour was the entrepreneur behind the app "EmergenSee" featured on an episode of ABC's Shark Tank.

The business owner and his partner Jason Friedberg appeared on an episode of the show, for start-ups, to receive investments from experienced moguls for a stake in their company, three years ago.

Reitnour appeared on Shark Tank in October 2014 to present the mobile app "EmergenSee", which helps transform smartphones into security systems, allowing users to broadcast audio, video and their location to others.

The investors were concerned during his pitch that he had poured millions of his own money into the app and that he was outsourcing the tech development. They were also unsure about his business model which was based on a monthly user fee of $8.99 per month. After all, the sharks are looking to make back their money, and then some.  

He said contrary to the 10 minutes of air time, his pitch to them was closer to an hour and a half.

"I really had a great conversation with them...but you can't get the true gist of what was said because it had to cut to the chase," he added.

The entrepreneur did not receive any financial support after promoting his product during his appearance. He later claimed that he didn't go on the show for the money or a deal.

Instead he was "going out to look for exposure."

It looks like that's what he got. The night after the show aired, he claims to have been receiving non-stop phone calls and emails from consumers, as well as people wanting to partner with him. Plus, the app had "hundreds of thousands of downloads," within 12 hours of the show airing, he said.

Thanks to the publicity, Reitnour believed it was a "game changer" for his business.

The father of four, lost his wife Kathleen to breast cancer in 2005. He leaves behind his children Ben, Nick, Jack and Sarah.

Reitnour was found with a gunshot wound to the forehead, according to a Philadelphia police spokesperson.

After further investigation, it was discovered that he was three million dollars in debt as well as currently being sued.

The investigation into his death still continues.

Source: ABC30 / People / Philadelphia Business Journal