Due to the long and winded process of forming an LLC, we where not able to open a bank account as we did not have our Tax ID which would not be given until we had received our papers back. With that in mind, my business partner and I thought it might be better to hold of on releasing sales figures from Fictionwise until the bank account was open. Once opened we where then looking at releasing figures and making payments at the same time. As with all plans they do not always go accord to what we hoped.
What kind of business is this? No bank account even after the business is launched? Goodness, and there are actually authors submitting works to this place? And paying for those book covers? I know there are always people out there who are desperate enough to submit their works to anyone who is willing to accept those works, but... come on now. When these guys are also supposedly behind a movie house and what not, the mind boggles.
Every time someone says anything about these publishing houses, inevitably there will be future displaced and disappointed authors clamoring in the blog entry in question to accuse the messenger of being "cruel", "mean", et cetera. I am not sure what to make of the fact that none of the usual defensive responses show up on that thread. Maybe there are fewer people biting on the bait thrown out by new publishers run by people who have very little knowledge on running a business? I can only hope so.