to me, "no money up front" is misleading, because the truth is, "no money ever". They've never told me to "buy" anything. They've never charged a fee. They want me to make money and my book to do well.
More specifically, my royalties are 62.5%. I have been paid quarterly for royalties. Their editing was excellent, I believe. (and not easy, either; editing was hard work, very thorough and sometimes downright painful, but it was without a doubt in the book's best interest.) They have three editors and all three were involved at some point in production of my book. For a small press, they market as many places as they can find. I have been very pleased.
Whether that moves the line or not, I don't know. I do realize that a small start-up is a risk and they most certainly should be vetted by the awesome folks here. Questions should absolutely be answered. I believe this will only help their credibility. They have just had their one year anniversary and have a ways to go before it's "safe", I understand, but I chose to take the risk and haven't regretted it.
I just want you to know my experience, which was a pleasing one. Their contract's rights and royalties are generous, they are generous and they work their butts off. they know they are a small fish and they know it takes a lot of hard work to get to be a bigger fish.
I don't know all the ins and outs of their business so probably can't answer much more than what I know as one of their authors. They did a fine job with my book in all aspects and have treated me and my book respectably.