Entrepreneurs - Lisa Marie and Matthew Penn

Lisa Marie completely freezes at the very start of her pitch to the Online Dragons but manages with her husband Matthew's help to regain her composure and finish.

Undeterred by their faltering start, Julie Meyer warms to the Cosy Shopper enthusing at the prospect of a mass market idea with a "cute factor".

After establishing the parameters of their patent protection, Julie Meyer finds out the Cosy Shopper retails for £24.99 and costs between £12 and £13 to manufacture in the UK.

Lisa Marie adds that they have sourced a manufacturer in China who can make and package the product for 5 US dollars and this would drive down the retail price.

Shaf Rasul asks about the Penns' marketing strategy and Lisa Marie replies they have approached the senior buyer of a well known baby retailer and a Premiership football club.

With both Dragons alert to the financial possibilities, Julie Meyer asks how many hours the couple are currently giving the project.

Matthew replies that Lisa Marie is currently doing 2 to 3 hours a day and that she would hope to increase that to 30 hours a week in the future. As for himself, Matthew hopes to be able to spend 15 hours a week in the near future.

This is not music to Julie's ears. "Entrepreneurs that make successful businesses work more than 45 hours a week" she explains and suggests that the Penns appear to be simply hoping for a bigger version of their current lifestyle business.

This is not Julie's way. Concerned that she would be frustrated at the Penns' pace of development, she declares herself out.

On establishing that they have between them 30 years experience in banking, Shaf Rasul asks about their three yearly forecasts. Matthew reels off the numbers, ending with a £24,000 net profit in Year 3.

The Scot then asks if he gave the pair the £20,000 they are seeking what would be his exit strategy on his 15%.

Matthew is stumped.

Shaf explains that businesses are valued on a multiple of profits and that on Matthew's figures his profit for Year 3 would be £39,000. When he asks the ex-banker what his idea of a fair multiple would be Matthew suggests at least three.

On that basis, Shaf explains, in three years time the Penns' business would be worth £120,000 and his 15% stake would therefore be worth just below £20,000.

This is no more than he would be investing and on that basis Shaf declares himself out.

The deal done in the Den:

No investment.