Even at 35k/mo, that's 420k/year. That seems reasonably low to me (in the sense of a fundamental operating expense, not in terms of the going rate for hosting, which I have no clue about). By contrast, look at their people costs:
Total Salaries (between 6 people) $1,168,710.45
Total Payroll $1,298,819.67
Total Personnel Costs $1,411,513.53
That's about 10x their hosting expenses. Even if they had free hosting it seems like it would only have kept them going for another 2-3 months.