Yes, he said he wont be able to pay any cash till he gets it funded. I wouldn't really mind not getting cash, because the application indeed looked pretty useful. But like you said it's better to know an exact % of the pie if it does take off, cause otherwise I will be stuck to a binding agreement. I don't know the % yet, as this part was done over email to which I politely responded saying it somehow seems low. I am yet to hear back from him saying if its low or high, based on what the total share pool is.
Also, based on my current employment, if I calculate my wages as $75/hr, then his 1000options/40hrs come out as 25 options/hr which is like saying his options are worth $3(which is insane).
Also, based on my current employment, if I calculate my wages as $75/hr, then his 1000options/40hrs come out as 25 options/hr which is like saying his options are worth $3(which is insane).