BGD - what a rip off company

BGD Boulder Steel Company from Germany in 2009 was to establish a steel plant in Queenland and I remember big hype was made by Govt Premier and Ministers. I bought 20,000 shares. Nothing was done and in 2014 they consolidated (1:46) shares (my became 20000:435). Then in 2015 name changed to BGD Corporation Ltd. alongwith further consolidation (my 435 shares became 145). Now in December 2016 again name changed, Zenitas, with further consolidation (my shares 145 became 6 shares).
I believe since 2009 they did nothing but usurped State Govt subsidy plus shareholder funds. My 20,000 shares became 6... If they declare bankruptcy I can claim capital loss from my tax payable but then Fatso Directors will stop getting salary. They have to keep it as running entity till money finishes...
My concern, how Authorities ASX/ASIC allowed these renaming/consolidations? .......