Ask HN: 3 years, 0 Clients - being offered 20% or money back

I've started this as a subcontracting project, later turned into a partnership with a friend based on goodwill.

Timeline:

- [T-3 years]: Partner idea - B2B (enterprise targeted) with a physical-world component in the workflow. Features driven mostly by partner. Target market in North America.

- [T-2 years]: MVP with most time spent in writing/rewriting. Just after a MVP, partner relocates (to Middle East) for his FT job. Target market switched to ME.

- [T-1 years]: Paper company established in ME. Major competitor attempted hiring my Partner - but he rejected offer citing our company.

- [T]: A potential of a client by year-end.

Now, I'm being offered either of:

- 20% partnership against further dedicated time.

- Investing portion of the 20% in the company and cashing the rest.

- My subcontracting money back with no further obligations.

In terms of potential, there's a market. However, I'm suspicious for few reasons.

What do you think HN?