Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 624

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 624
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 credit losses on certain trade receivables and other financial assets. The amendments allow entities to elect a more streamlined approach when reasonable and supportable forecasts do not significantly affect expected credit losses, thereby reducing complexity and cost of applying the current expected credit loss (CECL) model. The amendments in this update are effective for fiscal years beginning after December 15, 2025, including interim periods within those fiscal years. Early adoption is permitted.

Other Recently Issued Accounting Pronouncements

The Company periodically reviews new accounting standards that are issued. Although some of these accounting standards may be applicable to the Company, the Company has not identified any new standards that it believes merit further discussion, and the Company expects that none would have a significant impact on its consolidated financial statements

NOTE 4 — CONCENTRATION OF CREDIT RISK AND FINANCIAL RISK MANAGEMENT

Concentration of credit risk

Financial instruments, which potentially subject the Company to credit risk, consist principally of cash and accounts receivable.

Cash is maintained with major financial institutions in the USA that are credit worthy. The Company maintains all cash in bank accounts insured up to $250,000 by the US Federal Deposit Insurance Corporation. On June 30, 2025 and December 31, 2024, no cash balances were held in excess of federally insured limits in the USA. The Company also holds deposits on account in Hong Kong and Australia.

Cash is maintained with major financial institutions in Hong Kong that are credit worthy. The Company maintains all cash in bank accounts insured up to HKD 500,000 (approximately USD $64,000) by Hong Kong’s Monetary Authority “Deposit Protection Scheme” (“DPS”).

Cash is maintained with major financial institutions in Australia that are credit worthy. The Company maintains most cash in bank accounts insured up to AUD $250,000 (approximately USD $155,000) by Australian Prudential Regulation Authority’ (APRA) “Federal Claims Scheme” (“FCS”). As on June 30, 2025, and December 31, 2024, no cash balances were held in excess of FCS insured limits in Australia. As on June 30, 2025, and December 31, 2024, no cash balances were held in excess of DPS insured limits in Hong Kong. As of June 30, 2025, and December 31, 2024, 100% of “Note payable” was owed to an unrelated party.

During the six months ended June 30, 2025,