I've seen no indication Epiphany is for sale. The share price may suffer until the economy turns but I believe it will remain an independent company. In the long run, share value will be greater by remaining independent.
I don't own EPNY (do own Kana), but EPNY should not engage in wholesale cuts in my opinion just to reach profitability. Management should assess the future as best they can and if it makes sense to invest even more and rack up larger losses over the next year or two they should just say so. If they did I'd be ready to buy some EPNY stock.