Can it actually happen? Here's how close SGH are!, page-21

"In a filing with disallowed, the company disclosed that losses have now reached $1.3 billion, which exceeds the $1.1 billion of equity on its balance sheet, so that all of the shareholder funds have now been wiped out. The underlying value of each of its shares on issue is now minus 36c, since the lawyer had a negative net worth of $126 million as of December 31."

There's a reason market cap is $40m, down from $2.5B.