You should assume funding will not happen. Follow your intuition here. And then calm down and realize that 5-7 months of living expenses isn't exactly scraping by. Follow everyone else's advice on cutting costs, and look for part-time work.
Your deeper problem is the expectation that someone else will invest in a company with a large team, obligations to cover back pay, several months of development behind it, and no road map to profitability. If your company is pinning its hopes on a long shot instead of figuring out how to get a revenue stream, that is your problem right there. How it gets solved depends on the company. The standard way is called bankruptcy.
Your deeper problem is the expectation that someone else will invest in a company with a large team, obligations to cover back pay, several months of development behind it, and no road map to profitability. If your company is pinning its hopes on a long shot instead of figuring out how to get a revenue stream, that is your problem right there. How it gets solved depends on the company. The standard way is called bankruptcy.