This split / consolidate process being used by this company is...

This split / consolidate process being used by this company is being used to pump/confuse/etc holders as well as issue new capital to dilute holdings substantially via heavily weighted and controlled stakes in the company (see AGM resolutions). Where substantial dilution occurs as a non-price sensitive event (see the quotation of securities, etc notices). This means the value of your shares can be quickly dissolved while those who are being issued the capital (debt provisioners), dump on market to those unsuspecting traders that aren't looking at the real value of the company. Another angle is that some platforms have trouble with temporary asx codes (which the ASX does while a consolidation is in process). So those with the right platforms can dump while other holders are at the mercy of whatever platform they use.

As we can see, the new shares being issued increases the market cap of the company temporarily before the market starts to realise and those who had the shares issued to them can then dump on market. This obviously means the share price progressively goes down (to align to the shrinking market cap - bad company - in debt - cash negative) to the point they begin the consolidation process again. Rinse and repeat.

What can you do? One option is realise a capital loss you can apply to capital gains / carry forward to future tax years. Or, if you think this company is undervalued, will improve, etc, continue to hold. And a varying array of other options.

To avoid brokerage, it seems others have garnered sympathy for this wealth destroying stock from their broker to give a brokerage free trade so no more of your money needs to be spent on this dumpster fire.