Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 659

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 659
---
 incorporated on September 21, 2015, in Hong Kong, China. It operates in the wholesale food, grocery, and general goods supplies sector.

TE was incorporated on December 7, 2001, in Western Australia, Australia. It is in the business of homeware and furniture supplies.

Our business has traditionally followed seasonal trends, influenced by consumer behavior. Demand tends to peak in the fourth fiscal quarter, when there is more discretionary spending for the holiday season.

For our wholesale operations, the fourth fiscal quarter has historically seen the highest sales volume compared to other quarters. In contrast, our retail segment, which includes company-owned stores, typically experiences its highest sales volume in the second quarter.

We aim to maintain consistent production throughout the year, scheduling manufacturing to ensure steady activity. However, the second and third months generally bring lower demand across the furniture industry. As a result, we usually close our domestic plants for one week each fiscal year to conduct routine equipment maintenance.

At the end of fiscal 2024, we had about 59 full-time equivalent employees, slightly down from around 60 at the end of fiscal 2023. This decrease mainly resulted from efforts to improve efficiency by adjusting

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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 1 — NATURE OF BUSINESS AND ORGANIZATION (continued)
staffing levels in our Australia Operations. Of the total employees at the end of fiscal 2024, approximately 38 worked in our Wholesale segment, 8 in Retail, 6 in our support business, with the rest being corporate staff. Most of our employees are full-time.

Currently management uses the legal entities under the other segment to operate the licenses and intellectual property provided by our affiliate company, Btab Group Inc., which currently does not charge any fees for their use.

The Company has elected a December 31 fiscal year-end.

#### NOTE 2 — GOING CONCERN
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company’s financial position and operating results raise substantial doubt about the Company’s ability to continue as a going concern, as reflected by the net loss of $1,850,259 for the fiscal year ended December 31,