Net debt ended the year at US$24mln, following a debt raise of US$210m to fund the acquisition of Banias Labs. Alphawave, which increased its headcount over fourfold as it made three acquisitions, said the audit procedures are "substantially complete" and it does not expect any changes to the preliminary results. The principal reason for the auditor's delay is "because of the additional procedures required in connection with the first-time audit of the company as an enlarged group".