That Alien Feeling is Back on Wall Street

Call me crazy but does this sound like a good investment to you? Per this article: There are six high profile tech IPOs on deck. One of them is Alien Technology. Naturally we are always happy to see good things happen for our sisters and brothers in the RFID space. But do these numbers get you reflexively, autonomically reaching for your wallet to pony up for some shares?

Alien Technology is an RFID company. In its most recent fiscal year it recorded a whopping $13 million in product revenue. Operating losses totaled $53 million, up from $27 million the year before. But Alien’s ready to go public. It hopes to snag as much as $138 million…

I know it's more complicated than this, but this basically means they spent $66 million last year to generate $13 million in sales. At this burn and earn rate, with $138 million in the bank they'd have a life expectancy of about two years if nothing changes. Isn't that right?