SHARK Tank judge Janine Allis made a couple of surprising admissions about what goes on behind the scenes of the reality show on The Project last night.

And if you thought Allis and the rest of the 'sharks' were counting their cash after several seasons of canny on-screen investments, think again.

Shark Tank star Janine Allis dropped a few truth bombs on The Project last night. the Project tv
Shark Tank star Janine Allis dropped a few truth bombs on The Project last night. the Project tv

Asked by host Waleed Aly if the sharks were at this point running out of cash to invest in new projects, Allis conceded that not every deal shown on screen actually goes ahead.

"Look, not all of them get through due diligence. Sometimes when they actually get a big fright on [TV], they say things that probably aren't true. And it's confronting, so sometimes they pull out afterwards. But there's a lot of people we don't do deals with on the show, but we still work with them post-show," she revealed.

Panellist Peter Helliar asked the Boost juice founder how her own personal investments fostered on the show were doing.

"I've absolutely invested money and lost all of it, and I have invested money and making quite a good return. At the moment, we're about even," she revealed.

Allis pointed to the show's most hot-headed shark, internet investor Steve Baxter, as someone who might be doing worst on his investments.

The Shark Tank judges (from left) Steve Baxter, Janine Allis, Andrew Banks, Naomi Simson and Glen Richards.
The Shark Tank judges (from left) Steve Baxter, Janine Allis, Andrew Banks, Naomi Simson and Glen Richards.

"Steve was the one who was really quite aggressive at the start ... I don't know how well they're doing," she said.

It was revealed during her interview that Allis has a little bit of professional history with one of The Project's panellists: Tommy Little worked at her company for six years, something Allis said could explain his Instagram-ready abs.

"I still know all the recipes. If you gave me one Boost juice right now, I could tell you how to make it," Little told his former boss.

She rose to the challenge: "Mango Magic."

"Half a banana, 300ml mango nectar, six pieces of frozen mango, two-and-a-half scoops mango frozen yoghurt, vanilla frozen yoghurt, and one-and-a-half scoops of ice," said Little - who then apologised for giving away the recipe on national television.

Speaking to news.com.au ahead of last night's season premiere, the Shark Tank judges revealed the biggest pitching mistakes they see on the show - and the one thing contestants still do that leaves them "really pissed off".


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