Company: WELNF
Filing Date: 2025-12-04
Form Type: DEFA14A
Source: 0001104659-25-118484
Chunk: 24

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-12-04
Form: DEFA14A
Chunk 24
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 portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with
the laws of the relevant taxing authorities. Deferred tax assets were deemed immaterial and the Company has recorded a full valuation
allowance as of September 30, 2025 and December 31, 2024.

Tax positions must initially
be recognized in the condensed consolidated financial statements when it is more likely than not the position will be sustained upon examination
by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a
greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position
and relevant facts. There were no unrecognized tax benefits as of September 30, 2025 and December 31, 2024. The Company recognizes accrued
interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest
and penalties as of September 30, 2025 and December 31, 2024. The Company is currently not aware of any issues under review that could
result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by
major taxing authorities since inception.

There is currently no taxation
imposed on income by the government of the Cayman Islands. In accordance with federal income tax regulations, income taxes are not levied
on the Company, but rather on the individual owners. United States taxation would occur on the individual owners if certain tax elections
are made by U.S. owners and the Company were treated as a passive foreign investment company. Additionally, U.S. taxation could occur
to the Company itself if the Company is engaged in a U.S. trade or business. The Company is not expected to be treated as engaged in a
U.S. trade or business at this time.

Class A Ordinary Shares Subject to Possible Redemption

The Company accounts for its
Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC 480. Class A ordinary shares subject to
mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares
(including ordinary shares that features redemption rights that are either within the control of the holder or subject to redemption upon
the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times,
ordinary shares are classified as shareholders’ equity. The Company