I guess where we differ is IMO, if they have no apparent source of funding, the website is inexplicably down, there's been no news in a while and you can't reach anyone at the company, it's probably already over.
If all the above were true and they somehow shipped some shoes, it wouldn't affect my opinion.
If you don't "bother", you're out of a job and your stock is worthless, so IMHO, if there's any sliver of a sliver of hope, you'll keep the business going. That doesn't mean it's going to be a good investment.
Those who cannot learn from history are doomed to repeat it.
GEORGE SANTAYANA