First, thanks for all the great advice. Very relieved to know that I'll be on the hook for at most some taxes on a really low salary.

To clear up uncertainty:

- This is in California.

- Pretty sure I signed over IP in the term sheet when the VC deal became official.

- In the month before VC investment, someone else did write code with me: a lot of infra work and the push notification code.

- It was a $several MM round but the company hasn't made much progress since then, so don't know how much value the company still has.

- To add to the fraud, the academic also rigged a study at a top university that the product bases its efficacy on.