callabonna a good buy or not

After reading the many posts on this Callabonna HC thread, doing some DYOR etc, my question is, @ 1 cent is this company a good buy or not ???????????

The No. of shares on issue are as follows, from last notice

15 February 2010
Number
+Class
688,561,435
Fully paid ordinary shares, then

537,000,060 Ordinary shares escrowed to 23 September 2010

60,000,000 2.5 cent options expiring 23 September 2011

5,000,000 2 cent options expiring 31 May 2012

5,000,000 4 cent options expiring 31 May 2012

5,000,000 6 cent options expiring 31 May 2012

30,000,000 1 cent options expiring 31 May 2012

28,000,000 1.7 cent options expiring 15 February 2015

So fully diluted over some 1.2 billion shares, means the whole exercise, of do you hold or do you not, the company should/must have some great results, to warrant the punt, and compare with say, PDN or EXT and a few others who originally started as explorers. The escrowed shares are also a bit of a worry ???? as they double the number on issue come this September.

As a punt, Pirra now holds well over 2m, and at 1 cent the cost is not huge, am not a daytrader, so into the bottom drawer they go.

Would appreciate other comments.

Time will tell. Always does