Did you know that a Scott Olson works at Schneider Securities? Wonder if he is releated to Dave?
Subject 34868
David C. Olson, president of Summit Financial Relations, Englewood, Colo., which also had been hired by Creative Host to promote its stock, denies being involved with the anonymous report. Mr. Olson says Summit isn't working for the company anymore. However, he says Creative Host's stock is "overvalued." "No one ever expected it would do anything like this, although there are opportunities out there for the company," he says.
Mr. Olson acknowledges that he has benefited from the stock's rise, saying that he sold some his shares two weeks ago as the stock rallied. He says he won't sell any more shares until the company can figure out why the stock is moving like it has.
Mr. Olson filed to sell over 35,000 shares he has received at prices ranging from 1 3/8 to 3 7/8 as compensation for "financial and consulting services" to the company. Additionally, he registered 120,000 warrants that give him the right to buy the stock at 1 3/8, which he received in exchange for helping the company raise $3 million in late 1998.
Mr. Olson is one of many Creative Host Services shareholders who has filed to sell stock. According to a March company filing, investors have filed to sell up to 1.7 million shares that they acquired last year through a private placement or a convertible note offering at prices ranging from 80 cents to 2 5/8 to per share. Mr. Ali says he doesn't know if these investors are in fact selling, or if any are behind the newsletter. |
