Missed payroll in CA

Hello,
I work for a small company (40 employees) The boss did not pay wages to any of the employees last pay period due to lack of funds. We also have collection agencies calling at all hours and have had many services cancelled. Obviously the ship is going down! I attempted to negotiate a solution with the boss and she keeps repeating that a "deal is in the works and that it takes time for these funds to be acquired" "keep working and i will pay you as soon as I can"
What are my options? Can I voluntarily quit and apply for unemployment? How do I go about getting my vacation pay and back wages? What is the best way to explain why I left my previous job when I start interviewing for a new position?
Thank you so much for your help,
Justine