Blini Hut, Inc

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International Guild of Hospitality & Restaurant Managers

Blini Hut, Inc., organized on April 6, 1995 and formerly known as Bargain Products, Inc., engages in the marketing and distribution of various specialty Eastern/European fast food restaurants. The Blini Hut concept is designed to appeal to a broad spectrum of fast food customers who are seeking a consistent and high quality dining experience served in an efficient, distinctive atmosphere for a moderate price. The Company seeks to provide this experience by serving a limited selection of tasty and interesting dishes that are prepared largely on site and through the use of the Company's commissary kitchen, from fresh ingredients.

The Company was previously engaged in the business of selling low cost consumer products at the retail level through its wholly owned subsidiary, Dollar Mania, Inc., from June 1995 through September 1996. However, Dollar Mania was unable to financially support its rapid expansion and in order to protect its assets filed chapter 11 bankruptcy on March 28, 1996. The Company had been inactive without operations since September 1996, until May 18, 1999, when the Company changed its name to Blini Hut, Inc. On December 2, 1999 the Company acquired Troika Foods, Inc., which is involved in the business of manufacturing and distributing a line of ethnic gourmet food products to upscale gourmet stores and distributors in the greater New York area. The Company proposes to develop specialty Eastern European fast food restaurants through creating company-owned restaurants and through franchising.

The Blini Hut restaurant, which currently operates at 132 Nassau Street, New York City, provides a fast-paced environment and well-trained service to its customers. The Company has focused its efforts upon a menu of Eastern/European dishes served in generous portions at moderate prices, which has attracted and expects to attract an acceptable share of the fast food market. The Blini Hut restaurant concept and menu are designed to attract loyal clientele who will return with a high degree of frequency. The Company's goal is to be known for an excellent selection of ethnic dishes including, but not limited to, Chicken "Kiev," Chicken "Pojarskey," Salmon "Pojarskey," "Borscht," Russian teas and the infamous "Blini." The restaurant's menu also includes a variety of breakfast dishes, snacks, appetizers, authentic soups and beverages.

The Company has focused on providing its customers with superior quality, service and perceived value in a distinctive atmosphere. The Company does not currently have a budget for marketing the restaurant. Thus, the Company presently relies primarily on customer satisfaction and word-of-mouth to obtain repeat customers and attract new clientele. In an effort to promote the restaurant, the Company placed limited advertisements on Russian television and radio.

The Company emphasizes and intends to continue emphasizing highly attentive, friendly service by closely supervising the restaurant's operations and providing ongoing employee training and support. The Blini Hut restaurant is open six days a week. The principal market at this time is proposed to be in the New York Metropolitan area. The Company has no existing commitments related to opening additional new restaurants nor has the Company sought to market its proposed business to potential franchisees at this time.

The Company also, as a means of advertising, established a web-site, www.blinihut.com, in January 2000. The Company anticipates using the site to provide patrons and stockholders with Company stock quotes, press and news releases, corporate filing information, promotional materials and coupons, wholesale online ordering, a description of the food sold at the restaurant and a listing of food producers, a free Blini Hut cook book, and advertising space for noncompeting companies.

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