June 25, 2019
Hello from Elizabeth, Anne, and Lynn.
Last week went very quickly. Anne, Ariel, Julianne, and Elizabeth met at Lynn’s house in Kentucky to work on details of our immediate priorities and long-term plans. Being a virtual company with relatively little overhead has worked well for Dreamspinner over the years, but we always do our best work when we can be together and focus on nothing but Dreamspinner in a quiet place. All of us are traveling home today, so replies to this statement might be on Wednesday.
End-of-month payments will start depositing to our account on Wednesday, and the remainder of outstanding royalties will be paid. We are aware that June 30 is the end of the fiscal year for many of our Dreamspinner authors and will send those payments first so they have time to close out their accounts for tax purposes. Thank you for your communication over the past week.
This week, there are three goals.
- Payment of the remaining royalties.
- Connecting authors via Dropbox to their own royalty folder. This folder contains the audited 1Q2019 reports, including the detailed breakdown by order, edition, and vendor. Dropbox will notify authors directly when a new report is deposited. This will prevent the issues with the software sending reports via email, provide an archive of past reports and allow us to deliver reports more frequently.
- Onboarding authors to the Tipalti interface so outstanding payments can be made faster and in complete compliance. Authors will be contacted via email by Tipalti to set up preferences and introduce the dashboard.
#2 and #3 will take more than one week to complete given the number of authors. Our goal is to have both complete for the payment of 2Q at the end of July.
We are here and willing to discuss the current situation as well as future plans with authors. Our email addresses are below. Until this situation has been completely resolved, we will issue an update every Tuesday.
Elizabeth North, Chief Executive Officer,
Anne Regan, Chief Operations Officer
Lynn West, Publisher and Chief Development Officer
Questions about rights releases: email@example.com
This statement is not confidential. PDF available upon request.