pressure from having a low bank account puts us in a bad negotiating position.
That's true, you are at a disadvantage when you need investment fast.
our initial VCs passed (regardless of the reasons) will raise flags with our new potential VCs.
That's very true, and this is where your biggest problem lies. This is called "signaling" in the VC community, and it is almost a kiss of death. Please see this excellent Venture Hacks discussion about "signaling".
a positive pitch for our current situation?
You need to show traction, i.e. growth in the number of happy end users who are using your product, are paying for it, and love it. And if at all possible, go back to your existing VCs, and make them invest again. If you can't do that, at least get them to agree to personally call each potential new investor, and explain that their lack of follow on investment isn't due to lack of faith in your business.