It's great news to learn that income cannot fund spending commitments, as it means it can only get worse.
He will be desperate to get any money he can from the club, as every penny reduces the amount he has to find or inject. To that extent if he can hold creditors off until January, he can sell anyone with a value and pay as many of the creditors as possible. But this is all short term thinking as he still has monthly overheads every month, so trying to delay the inevitable is like King Canute.
HE NEEDS TO swallow his pride, and accept he has made a right mess of it and accept he is going to lose a crapload of money. There is no OUT for him other than to sell now and get what anyone will pay for it.
WE NEED TO starve him of cash, and most importantly any season ticket money. NOBODY should renew. If we do that we force him to swallow his pride and he will be unable to carry on.