It’s at least scammy but I don’t see how it’s aboveboard at all. It was only like $200 so not worth the cost of finding out

I did spend like a decade trying startups in the hope of one making it, without any luck. Interestingly the only buyout that got me anything was a midsized company, not a startup, purchased by a large company. The only options that have panned out was a midsized company bought by a private equity, where they’ve paid cash