The company will provide you with a lower than customary salary and get you to join with promises of receiving equity ownership in the company. However, they have a pattern of firing employees prior to any of the equity being vested, so it's a little bit of a bait and switch. It appears they don't have any intention of employees ever receiving equity, but use that as a tool to hire people for low pay knowing that they can merely fire them immediately before any stock vests.