Things are looking pretty grim for Salon.com these days.

If you’ve never read a 10-Q, what it basically says is that they’ve got $880k in cash and ready assets, four times that much in immediate debt, and they spent a million bucks of their cash in the last six months, trying to stay alive. Yet they’ve lost more than that in expenses and asset devaluation. (That means they’re spending more than they’re making. The “good” news is that they “only” lost a million bucks last quarter. As PR Newswire dryly puts it, that’s a 46% improvement over the previous quarter.)

Assuming they’re still hemorrhaging cash at that rate, I think they’re pretty close to not being able to make payroll this week or next.