Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 424

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 424
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 within the same time periods as private companies. Btab qualifies as an emerging growth company. Btab intends to take advantage of the exemption for complying with new or revised accounting standards within the same time periods as private companies. Accordingly, the information contained herein may be different than the information you receive from other public companies.

### Business combination — Reverse Merger
A reverse merger that is a business combination can occur only if the accounting acquiree meets the definition of a business and should be accounted for using the acquisition method. These transactions are unique and often include asset acquisitions, capital transactions, or business combinations, or a combination of these elements.

In accordance with ASC 805 — Reverse Mergers, a reverse recapitalization is a transaction in which a shell company issues its equity interest to effect the acquisition of an operating company. A reverse acquisition is accounted for as a capital transaction equivalent to the operating company issuing its equity for the net assets of the shell company followed by a recapitalization. The shell company is not deemed a business by the SEC and therefore reverse capitalization is not accounted for as a business combination. Therefore, there is no Goodwill.

The key distinction between a reverse acquisition and a reverse recapitalization is that in a reverse acquisition the legal acquirer/issuer (ASA) is a business and in a reverse recapitalization the legal acquirer/ issuer is a shell company. For accounting purposes, the company that is legally acquired in the reverse merger (i.e., the accounting acquirer) is considered the continuing reporting entity.

The reverse merger between the Btab Group and ASA is determined to be a reverse capitalization in consideration that the accounting acquiror is not a legal acquiror, as the Btab Group obtained control of ASA and ASA was a shell company and not deem a business.

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Reverse recapitalization requires retrospective reporting of the shares issued by the legal acquiror for the purpose of the acquisition. Amounts are consolidated for reporting purposes and shares previously outstanding by the legal acquiror are treated as issued in the year of the reverse merger. Intercompany balances and investments in the entities which acquired the public company would be eliminated for consolidation reporting and the surviving equity reported would be that of the public company.

#### Revenue recognition
The Company recognizes revenue under ASC 606 “Revenue from Contracts with Customers”. The core principle of the new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to