The social game giant Zynga, famous for its Farmville and Draw Something titles, is worth "nothing" according to one analysis of its share price.
Zynga has faced a difficult year after it went public at the end of 2011.
At its IPO in December 2011 the company's stock stood at $10.
As of Tuesday it was down to $2.43 per share, giving it a market cap of $1.84bn.
Not great, but not awful, you might think - except that, as the LA Times notes, its assets including real estate, cash and securities are worth about $2.46 per share.
Which means Zynga is currently worth less than itself.
The latest drops in its share price come almost a week after the company warned its 2012 performance would be below expectations.
It added that it would have to write down about $90m its purchase of Draw Something-makers OMGPOP, which it bought for $180m in March.
The company has also lost a number of key executives, including Paul and David Bettner, who created Words With Friends.
The company maintains that many of its games remain popular, and that its new CityVille 2 and FarmVille titles are coming soon.
But with just a handful of its titles in the top 100 highest-grossing apps on the iOS Store, it will have to find a new burst of success to recapture its former glory.Suggest a correction