That is truly terrible. My immediate reaction was that you should quit right away. However, I also feel that it wouldn't help your friends if your bosses give u

That is truly terrible. My immediate reaction was that you should quit right away. However, I also feel that it wouldn't help your friends if your bosses give up on the project or let the company fail. Maybe you can an ask for donations to the cause or other types of support such as a guarantee that your friends will be able to keep their jobs?