Here is what I found Wikipedia link...

Here is what I found Wikipedia link https://en.wikipedia.org/wiki/Altman_Z-score
X₁ = (Current Assets − Current Liabilities) / Total Assets
X₂ = Retained Earnings / Total Assets
X₃ = Earnings Before Interest and Taxes / Total Assets
X₄ = Book Value of Equity / Total Liabilities
X₅ = Sales / Total Assets
Z' Score bankruptcy Model:
Z' = 0.717X₁ + 0.847X₂ + 3.107X₃ + 0.420X₄ + 0.998X₅
Zones of Discrimination:
Z' > 2.9 -“Safe” Zone
1.23 < Z' < 2.9 -“Grey” Zone
Z' < 1.23 -“Distress” Zone
There are total 7 variables involved to give Z values and the most important factor is SGH current Total Assets which you know nothing about. The only variable that you have a firm figure is the EBIT but that was based on end of June-2016, 8 months old figure. Here we are talking about bankruptcy. I am not sure when you wrote "Let me drill it down." really!
Here my free tip for you. SP will not going getting any lower even thou you try your very best to bluff run a scare champain to drive SGH shareholders away by quoting someone else method to calculate bankruptcy which you have very little understanding.
I think it was an insult when you quoted
"Altman Z-score"

to the guy that done so much research to come up with a beautiful prediction and ended up by a muddy minded person.