NEW YORK (TheStreet) -- TheStreet's Debra Borchardt is with Francis Gaskins, Director of Research for Equities.com, to take a closer look at some upcoming IPOs.Votorantim Cimentos (VEMB) is one of the bigger IPOs of the year, worth a total of $3.4 billion and has global operations spanning five different continents. However, Gaskins pointed out some inconsistencies about the company's accounting. Specifically, he noted that companies' price-to-tangible-book value is almost always greater than or equal to the price-to-book value. But in this case, the price-to-tangible-book value is actually less than that of the price-to-book value. He also said that the valuation is way too steep for a company that largely makes cement and handles heavy materials. For 2012, the company has a P/E ratio of 65, and after the March quarter, had a measurement of 137. "Their valuation is just way off the scale, I would stay away from that one," he said. Borchardt then looked at Gogo (GOGO), a company that provides wireless Internet for airlines. She said that although revenues continue to rise, so do the losses, now up to a staggering $538 million. Gaskins said he is immediately turned off by a company that has an 80% share of a market yet can't find a way to make money. Although the company is seeing an uptick in participation rates among consumers, that likely will change soon, he said. He also said that the airlines have been adding competitors to the space and that Gogo will see increased competition. This likely will account for lower sales and less participation, something the company cannot afford to lose. Borchardt concluded that "It's a no-go on Gogo."