Comments on: Triskelion Bankruptcy Update: Schedule of Assets and Liabilities Filed

By: Lynne Connolly

Lynne Connolly — Mon, 27 Aug 2007 21:32:22 +0000

I wouldn’t call it tragic, Ciar.
We’re in a business where for every published author there are at least 20 waiting to take her place. That’s the basis of all these problems right there – there’ll be another one along in a minute.
So you take a risk. I love e-publishing, and I never want to leave, but this is one of the risks. You have to have a certain profile to be a successful e-author and one of them is the ability to roll with the punches, to take them and carry on. You have to balance the risks, minimise them as much as you can and then go for it.
I’ve been asked for some work by New York publishers but my e-publishing background gives me a little more choice, and I can be more selective.
I’m still not leaving e-publishing.
What keeps me going is the fact that I write anyway. So I just carry on.

By: Linn Random

Linn Random — Mon, 27 Aug 2007 21:09:17 +0000

-OMG—if this all wasn’t so terribly tragic!!!!! I’ve clicked on the links to the article and the absolutely hands down terrific rebuttal by Brenda Lyons who lays the facts out–go read her thoughts on the same page as the article. Then I clicked on to Magical Media…and there is Kristi Studts’ new business!!! She also does book covers on Magical, and aren’t those the Triskelion Covers???? I see Lynn Connelly’s Diamonds of Ice..so I click trhru to Lynn Warren’s and would you believe….yep, it takes you to Lynn Warren’s site, and there are the two dogs who are featured on the Ron Studts real estate website. Holy Cow!–isn’t anyone at the bankruptsy court watching!!!!! I am dumbfounded by this. Thank you Dear Author!!–for keeping us informed and doing such an amazing job. If I ever need a private investigator….I know who can get the goods!!!! Linn

By: Linn Random

Linn Random — Mon, 27 Aug 2007 20:06:33 +0000

Karen, I’ve heard the rumors too. And there are a lot of authors who aren’t being paid, a former editor who built the place is owed over $ 1900–that I know for a fact. I’ve also heard that owners might just walk away from MGP and form a new publishing company. (How can they do that???) I hate it if it happens because the ebook industry doesn’t need another black eye especially in light of the Triske fiasco. As they say……stay tuned. Linn

By: Karen Scott

Karen Scott — Mon, 27 Aug 2007 19:02:20 +0000

And there is one more yet bad apple who is waiting in the wings, I fear.

Rumour has it that Mardi Gras publishing isn’t too far away from folding. I’m willing to believe those rumours.

By: Linn Random

Linn Random — Mon, 27 Aug 2007 18:15:05 +0000

Like Ciar, I also tried to warn any new authors who would listen about Triskelion –way back when–by telling them that the actual address of Triskelion was a UPS drop box in Surprise, AZ and other perils that lay ahead. I worry that my voice wasn’t loud enough and I just absolutely grieve for the authors caught in this tangled web. Kristi and Ron come from Real Estate and I believe Ron still owns a real estate company. When I got one of my nasty letters from the Studts, Ron signed as President–this was in 2005/2006, so he’s always been involved though Kristi ran the company. as Ciar stated Kristi writes under the pen name of Lynn Warren. ( I fondly refer to that awful period as Triskelion Wars-and at the end of the day, got all my rights back—what a blessing!! in light of the developements) This combined with the sad state of affairs with Silk Vault just puts a bad light on an otherwise brilliant industry of ebooks. And there is one more yet bad apple who is waiting in the wings, I fear. I hope when all this passes, readers, writers, authors will be able to move on and see a few very bad apples don’t spoil the barrel. I hope that the authors trapped in this vortex of deceit and betrayal have a representative to meet in September and have a voice in the future of their novels. God Bless, I am watching and praying this will end well. Linn

By: Shiloh Walker

Shiloh Walker — Mon, 27 Aug 2007 00:26:30 +0000

coming in late on this but I had just had to chime in. I am so frickin glad that I had the rights for my books with them returned to me in 2006. Our parting of ways was amicable and came about due to some issues we couldn’t work around. At the time, it was a huge headache. Now I see it as a blessing in disguise.

By: RfP

RfP — Sun, 26 Aug 2007 05:58:09 +0000

The Arizona Republic has a new article (24 Aug) on Triskelion, focusing on the impact on authors. If the first Republic article above is correct that the owners of Triskelion are starting a new business in the Phoenix area, all this reportage can't be good for their startup.

By: Treva Harte

Treva Harte — Sat, 25 Aug 2007 20:33:23 +0000

Yeah, you can gross that kind of money and better in e-publishing. Of course if you do, and you want to keep making that kind of money, you have to pay out most of it in royalties, cover art, bookkeeping, editoral payments, etc. etc. and do it timely and accurately, not just for a year but for as long as you stay in business. Your return isn’t going to be what you gross–trying that gets you into illegal activity. Oh, and you do have work your butt off.

Treva

By: Anonymous

Anonymous — Tue, 21 Aug 2007 02:21:45 +0000

If anyone thinks Trisk authors saw very much of this $300K you are sadly mistaken. If you looked in more detail at the bankruptcy documents, Kristi Studts paid herself a very suspicious high-dollar amount for ‘royalties' in July 2006. My feeling is that Trisk went bust, not because of some rush to print, but because something fishy was going on with the handling of money within the company itself. How anyone can justify paying themselves a salary when their bills go unpaid is beyond me. I am also guessing that the $80,000 in credit card debt was not credit used solely for business purposes. I am so curious to see how this all plays out in court.

It’s sad that a person (who may have been dishonest no matter what business she was in) has made epubs look bad.

Regarding the print vs epub. While I may post this anonymously (I’m a chicken, sue me) I can honestly say before I knew of epubs I wanted to be in print and whether I have a successful career in epubs, I still want to be in print.

By: Cynthianna Appel

Cynthianna Appel — Mon, 20 Aug 2007 21:49:36 +0000

Yeah, it’s sad to think that my books helped that “banner year” of 2006, and yet I only got one month’s royalty check for my print book that came out over a year ago.

I doubt I’ll ever find out how much it sold over all–and is still selling. (It’s stlll at Amazon and could be in bookstores through out the US.)

It’s a “live and learn” process in the e-publishing world. I’m sticking with the publishers who treat me like a human being–regardless of sales. If they treat me right–I’ll stick with them for my contract length. But if anyone ever starts acting up like Trisk did… I will be out of there faster than the speed of light!

By: Ann Bruce

Ann Bruce — Mon, 20 Aug 2007 18:27:16 +0000

Without revealing company secrets, can I say I sold in one week [at Samhain] what I was told I sold in six months from Triskelion?

Samhain is just clipping along nicely. I haven’t disappointed with their books yet. But Bam’s book is in my TBR, so we’ll see if my opinion changes.

By: Lynne Connolly

Lynne Connolly — Mon, 20 Aug 2007 12:21:50 +0000

I have good and bad from Trisk. I should have pulled my books before I did, and I still have the rights of 5 books tied up in this mess (The Haunting, Black Leather, White Lace, Rubies of Fire, Diamonds of Ice and Eternal Beauty, Eternal Darkness, but the contract for the last one runs out this month). When I asked for all my rights back, Kristi wrote to me asking to keep some of them, to “tide them over.” I did smell a rat because she picked one book from every series, but I negotiated out of that and the books she kept could be worked around. Small victory, especially since the great reviews and Recommended Reads have been coming in for Rubies and Diamonds. And they’re not currently on the market.
What recently opened my eyes to the whole damned mess was the royalty statement from Samhain for my first book there. Without revealing company secrets, can I say I sold in one week there what I was told I sold in six months from Triskelion?
My consolation is that the authors involved in these closedowns often go on to better and greater things. I’ve moved on to Samhain, Loose-ID and Ellora’s Cave, and I’m much happier there.

By: ilona

ilona — Mon, 20 Aug 2007 10:56:52 +0000

O_O

I should be an e-publisher.

:rolls up her sleeves:

Who do I know who can make me some Poser covers?

By: Teddy Pig

Teddy Pig — Mon, 20 Aug 2007 00:34:12 +0000

Magickal Media!

Is there a market for retro 90′s web design?

By: Jennifer McKenzie

Jennifer McKenzie — Sun, 19 Aug 2007 21:03:30 +0000

I'm only sorry that I just found the courage to say what I really think now that she cannot â€œhurtâ€? me. I wish I would have come out publicly before now and perhaps saved some new writers heartache. When they'd write me saying â€œshould I submit to Triskelion,â€? I would dodge the question. I regret that now.

Ciar, there is NO WAY to let anyone know something like that. I can tell from luke warm responses whether a publisher is awesome or not. And everyone’s experience may be different.
After being vilified just for pulling your books, I can totally see why you wouldn’t open yourself up to being on their radar.
To me, what’s sad about this is that other epubs are being judged by this huge mess. I’m of the opinion (and I could be wrong) that the RWA changes are due somewhat to these mishaps.

By: Ann Bruce

Ann Bruce — Sun, 19 Aug 2007 20:55:18 +0000

Ms. Studts has begun a new venture called Magickal Media, a web design corporation.

After seeing the Trisk website, why would anyone want these people to design their own website? *shudder*

And as for withdrawing money from your business and letting bills go unpaid, as an owner of a small startup, I decided at the very beginning not to draw a salary until my company started making steady, POSITIVE EAT (I figure at least 3 years down the road). Many businesses fail because of lack of cash and if you can’t commit to pouring cash into your business for at least the first three years, don’t start one.

By: Darr

Darr — Sun, 19 Aug 2007 19:27:16 +0000

300+ to 20K. My first thought was drug, alcohol or gambling addictions. I’m probably way wrong, but goodness me, that’s a big drop in income. I can see why some e-publishers are slow to go into print.

By: Charlene Teglia

Charlene Teglia — Sun, 19 Aug 2007 19:20:58 +0000

Gah, what a mess. Jane, if you do decide to venture into epublishing I’m sure you’d do it right!

Re feeling like a real author, for me that has nothing to do with format and everything to do with income and readership, thankyouverymuch! A significant chunk of my earnings from ebook publishers comes from the books going into print. If those print sales didn’t happen, I’d make less money. Worse, I’d reach fewer readers. While many have discovered ebooks, a lot of readers have still never tried one and are far more likely to pick up one of my books while out browsing the shelves at a brick and mortar store than they are to go to an online ebookstore and browse titles. Like Angie said, it’s about reaching a wider customer base. (Although ebook sales do continue to grow, a trend I hope continues!)

By: Kris Eton

Kris Eton — Sun, 19 Aug 2007 18:20:37 +0000

I was a brand-new author at Trisk. My first book went out in early June. I never saw a penny of royalties and yet my name is not listed on the bankruptcy documents as being owed anything. There is a lot of misinformation in the bankruptcy filing. Not sure why. Not sure if she just did a really poor job of accounting, is not telling the whole truth, or if I will have an opportunity to make my ‘claim’ once the Sept. 4th date has come and gone. The only thing I have received is an official letter from the court about the court date and very generic info. I was told in that document to do nothing but wait.

All I want is my rights back, so I can sell the book elsewhere. But it looks like that will be a very long process. Just wanted to let everyone know the documents are not 100% accurate.

By: Lisa

Lisa — Sun, 19 Aug 2007 18:17:44 +0000

Ciar– its hard to say anything in that situation because you could be accused of slander. It’s very touchy and hard. You are right about moving on and keep rolling. Trisk had a lot of amazingly talented authors who have great success ahead of them…

And on the paycheck thing that is common and bad. owners pull too much salary way too early. Sadly. You’re right that this could have been an issue.