Yes, according to the Key Statistics link here on Yahoo book value is $7.08 per share. Nasdaq.com shows that a large number of institutions bailed during June. One of the things that may be hurting EMMS is their debt load given the current fear of a coming credit crunch. Another factor may be that investors have been holding expecting another management takeover bid which hasn't materialized so they're closing out their long positions. Hopefully the bottom won't be too far off.