I would appreciate any advice based on a current situation that I am in that I think a lot of people involved in startups (especially developers) find themselves in at some point.
Basically, I'm in a situation where I am with a startup where I started as a regular employee without any stock in the company (no benefits, just straight salary), etc. I have been offered another higher-paying position with a more stable, much larger company that is appealing to me for its stability.
Having been made aware of my intent to leave, the startup company that I have worked with for the last 1/2 year, or so, has made me a number of promises that, if I just stay another 2 months, a number of things will happen including a pay raise, benefits and stock in the company. From what I have been told they have raised some venture capital, etc and have a few clients lined up to start paying for the software now (they have been testing it already). I have been told the valuation of the company is now around $1 million, which, if true, is rather impressive given that we have a very small development team (basically 2 programmers + 1 part time designer along with 1 sales + the main backer / manager). Obviously I need to verify this valuation is correct and I don't have long to do it and don't know how to go about it either. Other promises have been made such as moving into a permanent office space and hiring testers and at least 1 more developer (something I basically said needs to happen for me to even consider staying given that I've put in a lot of extra work so far because of a lack of resources.)
I'm trying to get general advice / resources to refer to on this so that I know what I need to get them to put in writing and what questions to ask about the investors, etc so that I don't get screwed. I'm curious to hear from anyone else who has been in a situation like this. I know a number of things can "not pan out" as promised so I'm curious how programmers manage risk in these situations.