Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 638

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 638
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.S. federal income tax provision or benefit for the six months ended June 30, 2025 and the year ended December 31, 2024, as it incurred tax losses during both years. No tax returns were prepared or estimated balances were determined for 2024, and there is no change in the estimated deferred asset and valuation allowance. Net income in 2024 was minimal, fell under various foreign jurisdictions, and if the Company is subject to taxable income in the U.S., it may be permitted to offset it against net operating losses carried forward. When it is more likely than not that a tax asset cannot be realized through future income, the Company must record an allowance against any potential future tax benefit. During the year ended December 31, 2023, the Company experienced a delay in filing certain international information returns as well as the U.S. federal income tax return for the 2023 tax year. On June 21, 2024, the Company engaged a Texas-based CPA firm to prepare its 2023 tax filings and paid a partial fee to initiate the work. However, due to circumstances beyond the control of both the Company and the CPA firm, specifical operational disruptions caused by Hurricane Beryl, which impacted the Sugar Land, Texas region in July 2024, as well as staffing shortages — the firm was unable to complete the engagement. The Company had extended its return to October 15, 2024, and the IRS subsequently extended the filing deadline to February 15, 2025, as part of its disaster relief measures for areas affected by Hurricane

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TABLE OF CONTENTS

BTAB ECOMMERCE GROUP, INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS NOTE 12 — INCOME TAXES (continued) Beryl. Due to unforeseen disruptions affecting the initial firm’s ability to complete the engagement, the Company engaged a larger national firm, Bennett Thrasher LLP, on January 24, 2025, to complete the tax filings. Due to onboarding and data migration, the international information returns were not submitted by the IRS disaster-relief deadline. Subsequently, the Company engaged an alternative service provider to complete the filings. the U.S. federal income tax return for the 2023 tax year was successfully submitted on July 21, 2025, and the filing status has been acknowledged as accepted. The Company intends to actively pursue penalty relief from the IRS under both the reasonable cause standard and First-Time