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Want to tap into the red-hot Chinese economy? Think "green" restaurants are the wave of the future? Then perhaps you should buy stock in oddly named Yaboo, Inc.-that's Yaboo, not Yahoo-currently valued at $11.82 million on the U.S. market. It's going for only $.25 a share.
Yaboo (trading symbol YBIN.OB) isn't the first Chinese restaurant company to sell its stock on a U.S. exchange. Chinese fast food chicken QSR concept Country Style Cooking Restaurant Chain (CCSC) began selling shares last October. Their value soared 50 percent of the first day of trading, changing hands for $36.45 apiece at their peak. One year later, you can buy shares for $12.78 each.
But at least Country Style Cooking had 56 units, and plans for many more. Yaboo has just one unit-Qilin Bay restaurant. It does business in Taizhou City, which is located on coast of the East China Sea and has a population of 6,000,000.
Yaboo describes Qilin Bay this way in the eye-opening registration statement it filed with the Securities and Exchange Commission:
"Qilin Bay is a Chinese themed fresh foods restaurant. The restaurant features a variety of fresh seafood complemented by a variety of sauces, and high quality of healthy and frozen free vegetables, beef, pork, ribs, chicken entrees and noodles dishes. Qilin Bay also offers specialty appetizers, desserts and full liquor service.
"The Company's strategy is to differentiate its restaurants by emphasizing consistently high-quality food and service, generous portions at moderate prices and a natural and wild atmosphere. Qilin Bay is a wild place to entertain and eat. Part adventure, part restaurant, and wholly entertaining for the whole family; Qilin Bay recreates a subtropics with water flowing beneath a little bridge, lush vegetation, and indigenous creatures."
Ok, it sounds like a...