Administrator Harvey Madden told the playing staff and manager Craig Liddle that the club had folded at 12pm, only for the Darlington Football Club Rescue Group to arrive at the Northern Echo Arena with fresh funds.
Madden then staged a meeting with representatives from the Rescue Group and at 3pm it was announced the club's future would be secured until the end of January.
Doug Embleton, of DFCRG, told reporters outside the stadium: "The situation is that Harvey Madden has been very, very helpful and we have enabled the club to play the next two home games and the away game.
"It is now about the club and it is about the town so what we will be doing straightaway is rallying the town to get behind the club for the next three games.
"They need to support this club in their hour of need. We have done all we can do, what's required now is that we all come together."
Madden, who said telling the players the club had folded was the "worst moment of his life", insisted the situation was unprecedented.
"The scenario is that we have got enough money, we believe, to take us to the end of January to give interested parties time to come forward with offers," he said.
"I'm looking for the longer term not just the short-term fix."
Darlington will now host Blue Square Bet Premier high-fliers Fleetwood this Saturday and manager Craig Liddle believes he will be able to field a team.
"It's been a rollercoaster ride but we have got the outcome that everyone wanted - we are still alive and kicking," Liddle said.