Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 698

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 698
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 | ​                       | ​ |         ​ | ​ | ​ | ​ | ​    | ​ |         ​ | ​ | ​ |
| Australia-Owned Manufacture Furniture                   | ​ | ​ | ​                       | $ | 3,649,222 | ​ | ​ | ​ | ​    | $ | 3,366,568 | ​ | ​ |
| Australia third-party produced furniture and home goods | ​ | ​ | ​                       | ​ | 1,408,894 | ​ | ​ | ​ | ​    | ​ | 2,493,112 | ​ | ​ |
| Hong Kong food products                                 | ​ | ​ | ​                       | ​ |   204,036 | ​ | ​ | ​ | ​    | ​ |   379,842 | ​ | ​ |
| Others                                                  | ​ | ​ | ​                       | ​ |   977,019 | ​ | ​ | ​ | ​    | ​ |    31,109 | ​ | ​ |
| Consolidated Assets                                     | ​ | ​ | ​                       | $ | 6,239,171 | ​ | ​ | ​ | ​    | $ | 6,270,631 | ​ | ​ |

During the year ended December 31, 2024, the Company initiated a strategic focus on evaluating new market opportunities outside of Hong Kong, resulting in a reallocation of resources and a moderation of business activities within its Hong Kong food products segment. This realignment resulted in a reallocation of resources and a reduction in direct investment and sales efforts within the Hong Kong business. In fiscal year 2024, the Hong Kong Food Products segment recorded revenue only during the three months when operations were active. The Company temporarily paused sales and distribution activities in Hong Kong for most of the year due to international expansion efforts and office renovations. Operations resumed in Q4 2024 on a limited basis. While scaled back, the segment remains active and has not been classified as discontinued or held for sale. The Company clarifies that operations in Hong Kong have not been abandoned, nor classified as held for sale or discontinued. Rather, the Company continues to maintain an active operational presence in the region. This measured scaling down reflects a targeted approach to optimize performance and identify higher-margin opportunities across the Company’s global footprint. The Hong Kong segment generated $403,836 in net sales in 2024, compared to $3,490,131 sales in 2023. Cost of sales in 2024 totaled $414,271, general and