Styoli

Dustin Picov of Niagara Falls, ON, a realtor, asked for $180,000 for 20 per cent of Styoli, a convertible hat that uses zippers to change between a baseball cap, visor, headband and other configurations. Picov said he conceived the idea more than ten years earlier and had spent about $15,000 developing it, with prototypes made in China. The company had no sales, and the ask valued the business at $900,000.

Joe Mimran went out saying the product was not well designed. Michael Wekerle and Manjit Minhas went out citing the high valuation and lack of sales. Michele Romanow said the product had no clear purpose. Jim Treliving declined to let the pitch leave the room informally, and all five Dragons went out without an offer.

We haven’t confirmed whether Styoli is still operating.