Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 417

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 417
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 2024, primarily due to a temporary halt in operations.

#### Operating Expenses — Selling and Marketing
There is no selling and marketing expense because the products are sold directly to a list of select customers. In the future, we plan to incur marketing and selling expenses to more broadly market our products.

#### Operating Expenses — General and Administrative
General and administrative expenses slightly increased by $1,075, from $12,674 in Q2 2024 to $13,749 in Q2 2025. For the six months ended June 30, 2025, they rose by $1,491, from $23,562 during the same period in 2024 to $25,053.

### Loss from Operations
The company recorded an operational loss of $13,749 in Q2 2025, compared to $11,470 in Q2 2024, marking an increase of $2,279, or 20%. For the six months ending June 30, losses rose from $26,083 in 2024 to $27,119 in 2025, an increase of $1,036, or 4%.

Results of Operations — Others (Technology and E-commerce Services)

Quarter Ended and Six Months Ended June 30, 2025 Compared to Quarter Ended and Six Months Ended June 30, 2024

This segment currently generates no revenues. Operating costs are comprised of $209,288 and $203,466 for the quarter ended June 30, 2025 and 2024 respectively, and $536,500 and $377,258 for the six months ended June 30, 2025 and 2024 respectively. General and administrative expenses increased by $5,771 or 3% for the quarter ended June 30, 2025 and increase by $178,348 or 50% or primarily due to audit and other professional fees.

Currently management uses the legal entities under this 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. Development of our e-commerce network will continue to incur costs in the future.

### Liquidity and Capital Resources
We assess our liquidity in terms of our ability to generate cash to fund our operating, investing and financing activities. In doing so, we review and analyze our current cash on hand, days sales outstanding, inventory turns, days payable outstanding, capital expenditure forecasts, interest and principal payments on