Based on register.com, the domain cygnuscap.com is owned by a "Christopher Swann".
In the transcript for Wave's Q04 CC, there was a "Christopher Swann, GMT Capital" who asked questions about pre-financing volatility and use of the "going concern" phrase, which were both features of the blog entry.
In a subsequent transcript: http://www.unclever.com/wavx/WAVX4Q05.htm the same person specifically refers to the "$200K per employee" number used in the blog entry.
While you may not agree with my blog, the facts presented are true. Perhaps some humor thrown in, but I couldn't resist. The "World Headquarters" were just too funny. SKS talks a good game, but the revenue growth is just not there. Meanwhile the dilution is just huge. http://cygnuscap.blogspot.com/