(The estimated reading time for this is 4 minutes)
Beginning July 1, DarkFuse has begun restructuring its business which includes the liquidation of the company and its book line. The online magazine will continue to operate during this process, but the book line will go on hiatus until the restructuring is finished, which is estimated to be around November 1st, 2017. Here are a few things those connected to DarkFuse should know about the coming months…
Customers / Book Buyers
Since our book line has been halted, we have issued store credits for all subscriptions and books not being produced. Instead of including any customer payments as debt in the liquidation process, founder Shane Staley has instructed his legal team that his intent is to return in November wth the intention of producing new titles in limited hardcover format only (no eBook or paperback titles expected) so that direct customers will have the opportunity to utilize store credits and not be harmed by the liquidation process. The DarkMuse Syndicate will continue to offer its titles exclusively through the magazine’s shop and store credit will be extended to their titles as well.
At this time, there are less than 30 customers that are still waiting on titles not yet produced. DarkFuse, with the shipment this past weekend of 3 new titles (Covenant, An Apocalypse of Our Own and Erotikós #1) have now fulfilled more than 90% of paid orders received in its shop—the 10% remaining has either been issued on store credit or is payment for a title that will be produced after November 1, 2017.
We thank you for your patience and understanding during this process. The founding members of DarkFuse have been passionately working in the publishing industry for 20+ years, and we didn’t get that track record without respecting customers and their money spent in support, and we will continue to work to make things right.
As of June 30th, we have reverted rights to all titles not agreed upon for an extension with DarkFuse. More than 100 titles have been taken out of print in both eBook and paperback editions. If your title is no longer being sold by DarkFuse, your rights have been reverted, as communicated to authors in a previous memo issued from Shane Staley.
Authors do not need to worry about their rights being tied up, as all DarkFuse contracts are agreements made between the author and Shane Staley who owns the company. If the company were to change hands during the liquidation process, per every contract all creative rights will be returned to their original creators. DarkFuse, without Shane Staley, holds NO creative property.
If you have verbally agreed to extend your title’s rights with DarkFuse, all sales of your books from January 1, 2017-June 30, 2017 will be issued in a royalty statement on or before July 31, 2017 with payment being issued within 60 days of statement. You will receive an updated contract once the restructuring process has ended. Meanwhile, the terms of your previous contract will be honored.
Royalties owed to authors before 1/1/17 have been fully paid to date as well as advances to all books that have been produced except for 2 titles that were just released that we are planning on paying in full within the next 30 days.
If you currently have a story submitted for the magazine, we are running about 60 days behind in the issue of acceptance/rejection process. Over the next 6 months, our plans are to get back within our standard 6 month response times. We apologize for the delay this restructuring has caused. If you no longer want to wait, please login to your Submittable account and simply pull your submission. Otherwise, we will be reviewing it as soon as we can.
The main focus of DarkFuse during and after its restructure is to release issues of the magazine and to offer our readers some of the best short fiction in the horror genre as well as original short films. We will also release literary content for collectors in limited edition hardcovers (series, novellas, etc.) Issue #1 is now available and Issue #2 is currently 75% complete and is still expected to go live around July 11, 2017. Issue #0 is the archive which includes more than 600,000 words of fiction available to annual subscribers immediately.
All contracts signed for the magazine include the same clause as our book line: that if new ownership would take control of the company, this would mean all creative property would return to the authors.
Shop credits can also be applied to new magazine subscriptions.
Creative Content Policy
As mentioned above, Shane Staley founded his publishing companies to protect authors and their works. While other companies have purchased rights and authors have seen their works tied up in litigation and the transfer of rights to other companies, DarkFuse and its predecessors have acquired limited rights to protect creative content and its ownership. What this means is that in the event during the liquidation process, someone wants to buy the company, they would only be buying the name and NONE of its creative content. This protects the authors’ works as well as the owner’s vision and allows Staley to leave the company if ownership changes hands—so that he could compete against new ownership.
© 2017, DarkFuse & individual contributors. All rights reserved.