Sorry to see it happen this way but it ended up as I suggested it might. When a company gets into financial difficulty the shareholders have to watch out as whoever provides funding usually calls the shots and shareholders usually (but not always) lose.
Best to move on and try and recoup your losses elsewhere
To those of you talking about legal action - be careful as you are likely to just make some lawyers richer and yourselves poorer. I think it is extremely likely that this has been done completely within the ASX rules.
MBN Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held