Variety reported Tuesday that Baldwin is refusing to continue work on the film until producers from Cutting Edge Entertainment assure him that the cash will be there to finish the film.
Glasser told Hollywood.com on Tuesday afternoon that Baldwin's comments in the Variety story were incorrect and that at this time, the actor has been paid in full and all issues have been resolved through their respective lawyers.
Baldwin is set to go into the editing bay Tuesday, May 29, as planned, Glasser said.
Baldwin could not be reached for comment Tuesday. His lawyer, Martin Singer, refused to comment.
Baldwin told Variety that problems arose when Glasser and his partner, Adam Stone, informed Baldwin and others that Cutting Edge would be unable to pay part of their salaries due to a low influx in money.
"The financing appeared to have fallen through and they just stopped paying people," Baldwin said.
Baldwin balked at going into post-production, fearing there wasn't enough money to facilitate the 10 weeks he was contracted to deliver a director's cut, much less the 21 total weeks of post-production, Variety reported.
Glasser denied the film has had serious money problems beyond the usual ups and downs experienced by an independent film financed by numerous investors. Everyone has been paid, after finally replacing an investor who fell out, he said.
Baldwin and partner Jon Cornick, who co-produced the film through their company El Dorado Pictures, called in many favors to bring the $27.5 million film in $700,000 under budget, he told Variety. Baldwin also was going through his own personal trauma over the breakup of his marriage to actress Kim Basinger.
The film, a remake of a 1941 film, stars Baldwin as a writer who sells his soul to the devil (Jennifer Love Hewitt), but is represented by an advocate (Anthony Hopkins), who argues for the writer's soul.
Interest in the film is high, Glasser said. There was a good response to the trailer and footage shown at Cannes, and that most of the foreign rights had been sold, he said. The film will go on the market for an U.S. distributor once the film is completed.
The film was always planned as an independent film, Glasser said, rather than as a studio production.