[tjp]

What really caught my eyes is the Christmas prediction. I used to work for a startup that ended up belly, hmm, sideways, and the process a -lot- longer than I expected. Money ran out in November. In December, they laid off 10%, and then there was always someone to cough up some money to make the whole thing going, until June, when the company was bought up (and I said goodbye) - it took another 6 months for the new owners to decide to get rid off the team. It may have been lucky for us, but generally: belly-up takes time.

But, it doesn't really change the fact that your bosses appear to be not the nicest people in the world.

[throwaway52]

We've all discussed other options and belly up would be the worst case scenario ... they're hoping that they can, at worst, get bought up by some conglomerate to ease the pain. The safe "thing" about it, though, is that for the most part, they can't do what they want to do at all without me. So, while I may not enjoy the circumstances, I do have job security until the job disappears.

[notahacker]

If they get bought up by some other conglomerate before they've been able to bring themselves to pony up the lawyers fees to give you equity, they make money and you don't. If the other conglomerate has their own programmers and their own preferred way of building things, you quite possibly still find yourself looking for another job.