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> what other companies have gone public with a negative bottom line?

I just casually checked on the Bloomberg and it seems fairly common. Just in the US and just in the past 12 months I see hundreds.

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Hundreds of IPOs in the past 12 months?

This is incorrect.

2013 YTD there have been 886 "equity offerings" on US markets, which includes all types. If I narrow it down to Initial Public Offerings there are 233. If I narrow it down further to only Common Stock, there are 186. If I narrow it down further to those with negative net income, there are 83. So I wasn't being very precise originally by narrowing it down to IPO of Common Stock, but there are still a lot with negative income.

Thanks for following up!

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