Streamline.com (SLNE), a Westwood online grocer which has been struggling with mounting losses and a flat-lining stock price, is in its final weeks unless it gets an emergency infusion of cash.

That's the bleak picture painted in Streamline's latest financial filing with the Securities and Exchange Commission, which concludes, "if additional financing is not received in the next several weeks, the company will be unable to continue operations."

Streamline is just one of a handful of companies in the online grocery sector beset by weak sales and investor discontent. In May the firm announced that it had engaged an unnamed investment bank to search for new funding to keep its expansion model alive.

That funding has yet to be secured, and Streamline acknowledges it may never arrive. Midway through the second quarter the company, which had expanding delivery operations into new markets (Chicago and New Jersey) as well as widening operations of existing markets (in Boston and Washington, D.C.), ceased all expansion plans (including a move into Minneapolis) and began cutting expenses.

The cost cutting, which included no layoffs, helped Streamline narrow losses in the second quarter, but only modestly, from $11.7 million in the first quarter (53 cents a share) to $11.5 million (51 cents a share). Revenues grew less than 5 percent, from $8.5 million to $8.9 million.

Those poor sales figures haven't been nearly enough to stanch the flow of red ink, which has reached a cumulative total of $80 million through the first half of the year. And Streamline says the losses will continue to mount.

Among the problems encountered in the second quarter, in addition to lower than expected sales, was an unexpected requirement from Streamline's lenders that it put more collateral up front on its equipment purchases. Streamline had to dip into its working capital to make those payments, leaving it with under $7 million as of Aug. 15.

While Streamline has slashed marketing and consulting costs and deferred spending on new facilities, capital purchases and hiring, it told the SEC "the timing of implementing these initiatives will not result in sufficient cash flow savings to fund operations through this fiscal year."

The filing continues, "Although the company is still actively pursuing financing alternatives, no definitive arrangements exist at this time. The company has limited options, beyond those currently being implemented, to reduce cash expenditures. Therefore, if additional financing is not received in the next several weeks, the company will be unable to continue operations."

Chief Financial Officer Gregory Ambro did not respond to a phone call on Monday seeking comment.

SLNE, which pver the past year has traded between 0.5 and 14.688 but has been in the single digits for months, was in mid-day trading Monday up 0.31, or almost 5 percent, at 0.719.

Among Streamline's peers in the low-margin game of grocery delivery, Peapod Inc. (PPOD), Webvan Group Inc. (WBVN) and Homegrocer.com Inc. (HOMG) have all seen their stocks mired in the single digits.

Also, Kozmo.com, which last year raised more than $100 million to fuel its online delivery service, last week withdrew its initial public offering and has been enduring rounds of layoffs.