Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 621

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 621
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, or implied and define prices, delivery timeline, specifications of performance, and settlement terms. Approximately $1.64 million in revenues were generated in the six months ended June 30, 2025.

MI sells food, grocery and general goods supplies in retail and wholesale. Revenue is recognized upon the delivery or transfer of goods, which is the only specific performance obligation defined in the customer’s contract or terms of sale. Contract terms may be in writing, non-written, verbal, or implied. Contract terms define prices, delivery timeline, specifications of performance, and settlement terms. No income was generated in the six months ended June 30, 2025.

Customer contracts or arrangements do not include financing components, non-cash considerations, variable consideration or other considerations payable to customers. Revenues are reported net of sales discount, rebates, returns. Shipping income is charged to customers and earned when goods are delivered.

Foreign currency translation

The Company is exposed to foreign currency translation risk through their foreign branches and subsidiaries. The foreign branches and subsidiaries generally report their earnings in their local currencies. The assets and liabilities of the foreign branches and subsidiaries are translated from their respective local currencies to the U.S. Dollar using exchange rates at the balance sheet dates. The statements of operations for the foreign subsidiaries are translated from their respective local currencies to the U.S. Dollar using average exchange rates for the periods covered by the statements. Related translation adjustments are recorded as a component of accumulated other comprehensive income or loss. Foreign currency transaction gains or losses resulting from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the accompanying consolidated statements of operations.

Commitments and Contingencies

We establish an accrued liability for legal matters when those matters present loss contingencies that are both probable and reasonably estimable. As a litigation matter develops and in conjunction with any outside legal counsel handling the matter, we evaluate on an ongoing basis whether such matter presents a loss contingency that is probable and reasonably estimable. If, at the time of evaluation, the loss contingency related to a litigation matter is not both probable and reasonably estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable. Once the loss contingency related to a litigation matter is deemed to be both probable and reasonably estimable, we will establish an accrued liability with respect to such loss contingency and record a corresponding amount of litigation-related expense. We continue to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously