Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 639

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 639
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 Abatement principles. Based on the Company’s clean compliance history, timely good-faith actions, and established IRS relief guidance, management believes the likelihood of a material penalty is remote but reasonably possible and, accordingly, has an existing accrued penalty in the amount of $50,000 on the balance sheet as of June 30, 2025. The operational and compliance delays caused by Hurricane Beryl, along with the change in tax preparers, did not materially impact the Company’s deferred tax positions or current period tax expense. Management continues to monitor the realizability of net operating losses in U.S. and foreign jurisdictions, and no new tax legislation affecting the Company’s tax rate or deferred balances was enacted during the reporting periods. With the exception of foreign jurisdictions in which subsidiaries have a history of reported earnings, the Company has provided a full valuation allowance against the net deferred tax asset, consisting of net operating loss carry forwards, because management has determined that it is more likely than not that it will not earn income sufficient to realize the deferred tax assets in the future. The Company’s tax expense differs from the “expected” tax expense for Federal and State income tax purposes (computed by applying the United States Federal tax rate of 21% and the State tax rate of 5.75% to income before taxes), as follows: Excluding the penalty, the primary components of our deferred tax assets and (liabilities) were as follows:

| ​                                                          | ​ | ​ | For the SixMonths EndedJune 30, 2025 |   |          |   | ​ | ​ | For theYear endedDecember 31, 2024 |   |          |   | ​ |
|:-----------------------------------------------------------|:--|:--|:-------------------------------------|:--|---------:|:--|:--|:--|:-----------------------------------|:--|---------:|:--|:--|
| Assets                                                     | ​ | ​ | ​                                    | ​ |        ​ | ​ | ​ | ​ | ​                                  | ​ |        ​ | ​ | ​ |
| State income tax – net operating losses, credits and other | ​ | ​ | ​                                    | $ |   58,455 | ​ | ​ | ​ | ​                                  | $ |   38,890 | ​ | ​ |
| Federal net operating losses, credits                      | ​ | ​ | ​                                    | ​ |  270,240 | ​ | ​ | ​ | ​                                  | ​ |  179,790