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Can you lay out a new case for them? If you've already agreed to Option B, then I would say it's going to be difficult to do anything other than assess which option is more ideal for you personally. Otherwise I would add an addendum to Option B, which is that the company pays you back for all your unpaid time (whatever rate is agreeable) should it become profitable or get funded.

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We will have the docs set up in the next 2-3 weeks.

Agreement was we do opposing research and share those readings based on common equity startup practices.

Obviously, its all different case-by-case.

What equity (or extra) compensation should I request for at this point?

A thought keep passing my head is: If I take a job at a mature startup, I be an employee as well. Here, I am also an employee (co-founder level) but no pay. Status is not important at the end, but it just cannot escape my head about it.

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