invest in axm?

Hi guys,
Im new to shares and new to the share market, i was doing some research a week ago and come across this stock, for some reason i want to invest in it? i was looking at the P/E ratio and it was 0.11 compared to the market average of about 12.9 if memory serves me correctly, from what i have learnt the lower the P/E ratio generally the better.

The companys earnings per share are 6.8c per share for 2011 and 5.6c for 2012, if this is correct then why is this share valued at .8 of a cent? from the looks of it on this forum it is bad management and a list of other things.

I don't know why i want to invest in this company i think it is the price of the shares that is luring me like a mozzie to a light.

Is this stock kaput? of does it have a second wind?
could this stock be a possible take over target?
i know their are so many other better company's out their but this one seems like a real gamble.
I look forward to your responses and opinions..