Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 105

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 105
---
 you in your analysis of the financial aspects of the Business Combination. Btab’s balance sheet data as of December 31, 2024, and statement of operations data for the year ended December 31, 2024, are derived from Btab’s audited financial statements included elsewhere in this joint proxy statement/information statement/prospectus. The historical results presented below are not necessarily indicative of the results to be expected for any future period. You should read the following selected financial information in conjunction with each of Btab’s and IWAC’s consolidated financial statements and related notes and the sections titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Btab” contained elsewhere herein.

| ​                                                              
 ​                                                              | ​ 
 ​ | ​ 
 ​ | Year ended December 31, 
 2024(audited)           |   |             |   | ​ | ​ | 2023(audited) |   |             |   | ​ 
 ​ |
|:---------------------------------------------------------------|:--|:--|:------------------------|:--|------------:|:--|:--|:--|:--------------|:--|------------:|:--|:--|
| Operating Income:                                              | ​ | ​ | ​                       | ​ |           ​ | ​ | ​ | ​ | ​             | ​ |           ​ | ​ | ​ |
| Sales, net                                                     | ​ | ​ | ​                       | $ |   5,367,830 | ​ | ​ | ​ | ​             | $ |   8,628,160 | ​ | ​ |
| Cost of sales                                                  | ​ | ​ | ​                       | ​ |   4,194,662 | ​ | ​ | ​ | ​             | ​ |   7,109,654 | ​ | ​ |
| Total operating income                                         | ​ | ​ | ​                       | ​ |   1,173,168 | ​ | ​ | ​ | ​             | ​ |   1,518,506 | ​ | ​ |
| Operating Expenses:                                            | ​ | ​ | ​                       | ​ |           ​ | ​ | ​ | ​ | ​             | ​ |           ​ | ​ | ​ |
| Selling and marketing expense                                  | ​ | ​ | ​                       | ​ |     198,407 | ​ | ​ | ​ | ​             | ​ |     137,983 | ​ | ​ |
| General and administrative expense                             | ​ | ​ | ​                       |