Apparently he doesn't value your contribution enough.
Ego trip, reasonable reaction to your code or bad business decision making (perhaps a mixture of all three).
Either way, the public doesn't need to know about your arrangements (or lack thereof), it's unprofessional and it won't change his mind, quite the contrary.
Some very reasonable points in your post, don't get me wrong about that, but it's an argument between you and him and there's already enough e-drama in this community as it is.
A week of daily updates was promised, an obvious attempt at trying to restore the community's trust, give the man a chance at least.