MTXX: Value trap or Undervalued?

S

short&naked

Could this be a good asset play? Is there any division of the company that would justify the stock current price of 5.54 (intrinsic value at a discount)?
I am not a fundamental value investor, so I would like to start a discussion about this.
 
I often wonder about these as well - MTXX, SQNM, HURN - massive price reductions over fundamentally toxic news. It seems almost as if there's no way things could get worse, and these become quite tempting, but anyone long ELN last summer after the huge gap down found support, or long LEH last fall around $7/share knows things can indeed get much worse very quickly.
 
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