Jobster gave away much of the farm when it raised its third round, way back in 2006. The $18 million third round brought the total raised to $48 million, but on a valuation only a little over $100 million — meaning there's probably little equity left to sell to investors. The $7 million secured in April was likely a "down round," or offered on an even lower valuation. Investors were probably looking to snap up what equity was left and keep the company going for just long enough to sell to someone. Anyone. Please.

But if they're trying to cut the burn rate through layoffs, why is the company maintaining such a large office on the sixth floor in a prime Seattle location looking out over Elliott Bay? Our source was incredulous. "This makes no sense to me at all. No matter how good a deal they have, office space for 20 people would cost less on a cash basis." Maybe as a showpiece for possible acquirers? If that's the case, I'd take a cue from when the Mariners played in the Kingdome and the upper deck was always empty — cover the empty cubicles with a festive covers and bunting to keep it from looking like a mausoleum.

In June, a commenter claimed the company only had $7 million left of its $48 million in funding from Mayfield, Ignition, and other VCs. Goldberg conceded to the P-I that the company was still not profitable, but a company spokesman wouldn't confirm the commenter's figures.

Whatever the number was in June, this much is certain: Six months later, Jobster has even less money now. Almost as certain: John Connors, the former Microsoft CFO on Jobster's board, has too much of his reputation at stake to allow Jobster to fail.