November 1, 2016 TO OUR AUTHORS:
The closing of Volcano Press, Inc. and its Independent Publishers Services (IPS) division involve steps designed to ensure that any outstanding royalties/ fees due to you are paid in full.
In order to calculate and process those royalty payments by year end, Volcano Press is ceasing all sales through on-line, print-on-demand or direct sale venues no later than November 20, 2016.
By mid-December, Volcano Press will send you a final royalty statement/payment if any payments are due.
With the final dissolution of the company, there will be no legal entity to serve as your counterparty to the agreements you have entered into with Volcano Press/IPS.
It is therefore my understanding that the rights to your work under the agreement(s) you have entered into with the company will revert back to you, subject to the duration of any subsidiary or foreign language rights granted to others under those agreements.
We will notify any companies with which we currently serve as your agent for subsidiary/foreign rights that all future royalty reports and payments under those licensing arrangements should be sent directly to you instead.
We will provide you with a copy of that notification if such arrangements apply to you.
Please note that the date of final dissolution will occur when the company fully terminates and can then file its Certificate of Dissolution with the State of California. Although I do not know the precise date, my intent is to file the certificate as close to the end of this year as possible.
Sincerely, Ruth Gottstein, President and Owner Volcano Press, Inc/Independent Publishers Services Division
Please direct any inquiries in writing to:
Volcano Press, Inc. PO Box 270 Volcano, CA 95689