They will not get the funding for good terms, I know that almost for sure now.
Don't bother. The money is never coming. Move on to something else quickly.
Wage theft is also a crime, and you can go through the police and district attorney to pursue that, if you can get them interested.
It's possible that the wages may be recoverable from the individuals even if the corporation is bankrupt, although how much time and effort you want to invest in that, I dunno. Would depend on the amount owed, I would think; I've not been in the situation, but I'd like to think I would stop working at a place where a paycheck bounced or went missing until that was resolved; with maybe some amount of flexibility for a paycheck a couple days late, or a really convincing explanation about why what happened happened, and how it was going to be resolved. Anyway, I don't think I'd be willing to make a big fuss about one or two paychecks, but I'd certainly file a report.