CoreChair

Patrick Harrison, a kinesiologist from Aurora, Ontario, pitched Core Chair, asking for $125,000 for 5 percent equity. The Core Chair is a sculpted, low-back active-sitting chair with a mechanism that articulates up to 14 degrees in all directions to improve posture and increase circulation compared to a standard office chair. The chair retails for $1,195 and costs $250 to produce, carries a 12-year warranty and 60-day satisfaction guarantee, and had launched three weeks earlier through an e-commerce site, with placement in Apple's online store for employees and upcoming listings on Amazon and Staples. Patrick had invested about $2.2 million over seven and a half years of development and was projecting around 2,000 units sold in the first 12 months, while currently burning about $20,000 a month.

Joe Mimran initially offered $125,000 for 10 percent, citing manufacturing and branding experience, but withdrew after learning about the high monthly burn rate. Manjit Minhas, Jim Treliving, and Michael Wekerle went out over concerns about the long development timeline, distribution speed, and total capital already invested. Michele Romanow also declined due to the burn rate. No deal was made.

CoreChair is still operating and sells through its website.