Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 673

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 673
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 financial position or results of operations.

ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”

Issued in December 2023, this update enhances the disclosures required in the income tax reconciliation table and mandates additional information regarding taxes paid in the U.S. and foreign jurisdictions. This

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TABLE OF CONTENTS

#### BTAB ECOMMERCE GROUP, INC. AND SUBSIDIARIES

### NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

#### December 31, 2024, and 2023
NOTE 3 — BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

update is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact that adoption of ASU 2023-09 will have on its financial statements. We do not expect the disclosure changes that result from the adoption of ASU 2023-09 to materially impact our consolidated financial statements.

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 December 31, 2024, and 2023, 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’ (