So, delayed paychecks and they're scraping to get even that. The writer has a rather peculiar grasp of "good news."
As an accountant I can tell you that it has long been debated: "How do you know at what point a company has gone bankrupt?"
The common consensus seems to be that you know when a company can no longer meet it's payroll. I would say that Air Head America came within a whisker of meeting that definition this past week.