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If any code you've written (or anything you've produced that constitutes IP) is in their released product, they have to compensate you for it. In startups, the compensation is typically in the form of equity.

As others already alluded, in any case, it does not seem that you want to go forward in business with either the founders or the incubator.

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thanks for the reply, no released product as of yet and there's no IP in place

It doesn't need to be released to be IP.

I haven't signed any agreements to transfer the IP rights to the company

What about verbal agreements? They're a pain in the ass to enforce, but constitute fully legal contracts (at least in the USA).

Or accepting money from one of the other founders? That could make you an employee and then you don't need to sign anything for them to take your code.

Have you signed any contract? An employment contract would place ownership with the company. You've mentioned you've been compensated which doesn't sound good.

(Hence why people are advising you to stop working)

Go sick until you speak to a lawyer.

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