The pre-primary FEC reports are in. They cover the roughly 8 week time period between July 1 and August 25. During that time, Reed raised $123K and spent $99K. He has $361K in the bank. Zeller raised $94K, spent $130K and has $50K in the bank.
The anonymous commenter who pointed this out says that Zeller is "hemorrhaging cash", but keep in mind that he's only been raising cash for a few months. It's just tough to get a campaign off the ground -- Reed's been raising money for more than a year, so he's got a good head start.
Reed's fundraising is unimpressive. By this time in the last cycle, Massa had raised $1.3 million, twice Reed's total, and he had $180K more in the bank than Reed.