Mr. Salmon has the full support of Neil Gaiman on this project and is asking for fan support since this is a private project and does not have the backing of any studios. The material, the short story The Price (which I have mentioned in a blog before) is one of my favorite short stories and if you get the chance I recommend it as well as the graphic novel, Creatures of the Night, done by Gaiman and one of my personal favorite artists, Michael Zulli.
The Price is a story of the devotion of an animal, a black cat (which I have extreme fondness for the inky alien four legged slinky things)and how guardians can come in the most unexpected forms. I highly recommend it.
You can follow Mr. Salmon's progress here on his production blog.
Neil Gaiman has also given his blessing to this project and talks a little more in depth about it here on his blog.
Creatures of the Night by Neil Gaiman and Michael Zulli
Smoke and Mirrors by Neil Gaiman