To put a frame around this. We're expecting to be profitable within the 1st year. We think we won't need any money after this, unless it's a more strategic play and then we'll think of VCs. Our hosting/infrastructure costs are zero. (I'd give away too much info if I said how). We have several LOIs with potential customers. The CEO to be brought his last company to 500m sales (not sure of the time frame on this). We anticipate getting in this range in about 3 or 4 years barring an earlier exit. So that's the playground. Way, way out of my league.
I'm in Canada if that changes anything. I do have records stating the equity position, but nothing formal. I am listed as a cofounder in various media we have floating around, from presentation vids to the biz plan, investor sheets and social media presence. The IP lawyer I talked to told me that since I'm under a contracting agreement and I haven't been paid the code is mine. The law regarding this may be different in the states. And yeah I am thinking of getting some non-dilution clauses in place for the likely possibility of an exit. Negotiating this and a licensing agreement for my library is what I think my fuzzy plan is at the moment. My concern is going down a litigation path against a much larger wallet, but I think my case is pretty strong.