new all-time low - what's going on?

how low can we go?
at 7.4c MDT is valued at under $70m
6 months ago MDT was valued at over $500m - that's half a billion dollars!
In the A/R issued by directors on 29 Sept 2008 they report that the NTA at 30June was $1.07 per unit.
When they issued the a/cs in 29 Sept they did not discount the $1.07 figure for NTA.
So MDT assets were worth about a Billion $ !!
SO, How can a company with a $Billion of Net Assets be trading at $70m valuation in only 2 months????

WHAT ARE WE NOT BEING TOLD ????