Ask yourself why you'd take this opportunity. What do you hope to get out of it? If you can't find other work it sounds like a great deal. If you are hoping

Ask yourself why you'd take this opportunity. What do you hope to get out of it? If you can't find other work it sounds like a great deal. If you are hoping to get equity later and you'd be willing to risk it, maybe it is a good deal. If you need experience you'll get, that is worth something. If this is just about money, that sounds weak to me.