The club looked to be putting their problems behind them when American mogul Chris Kirchner was named as preferred bidder on April 6, before exchanging contracts over the sale.
Since then, Kirchner has failed to complete the purchase on two occasions, having his period of exclusivity extended.
It was revealed that a deal was expected to be signed off at the end of May but, with nothing agreed, it means that the prospect of a deal is in serious doubt.
According to latest news, Kirchner has been given until 5pm on Friday June 6 to provide evidence that he can complete the takeover.
However, administrators Quantuma have decided to 'engage with other interested parties as a contingency measure', with former Newcastle owner Mike Ashley among those waiting in the wings.
With players, club staff and supporters given precious little insight into what's going on at their football club, Davies revealed just how desperate the feeling is in the camp.
Speaking on Thursday night's Kick Off show, he told talkSPORT: "I've only spoken to a couple of players about their situations, there are obviously so many who are out of contract that keeping tabs on everyone isn't easy.
"I've spoken to a couple of players and it's the same message.
"We're getting most of our information from social media and news outlets and we're all waiting to see what's happening.
"Ultimately when you see reports like this [the 5pm Friday deadline], it doesn't look positive for the current takeover.
"That's the worry.
"It's not just about the playing staff, it's about the people at the training ground and people at the stadium who work there as well.
"If this takeover doesn't happen and the club might potentially collapse, we might not get paid in June and us footballers can worry about ourselves, but it's the football club as a whole.
"It's not just the fact that people might not get paid, it's people's livelihoods in terms of paying mortgages and things like that, plus the fans on the other side of it who have an investment into the club of however long they've been alive and been supporting this club.
"It's important to find a resolution, whatever that's going to be, sooner rather than later, because it's obviously dragged on for the whole season.
"We've tried to not let it affect us, even though it's difficult, but now it's desperate measures.
"If we go back in at Derby we're meant to be back in on June 27, but we don't have an owner and therefore we don't have a squad. We've only got five players under contract."
Davies added: "I'm extremely concerned because if you're a fan sitting at home and you're reading the reports and you hear that a player is reading those same reports to get his information, then you'd have to be worried.
"You'd be silly not to be worried.
"I literally sit and scroll through Twitter every morning and search for Derby County. That's what I do and that's the God's honest truth.
"I search for Derby County because the big thing was that the takeover was meant to happen last week on Tuesday and then there was talk of a delay based on American bank holidays and English bank holidays with the Jubilee.
"It's now Thursday, a week on."