Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 650

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 650
---
 segment. This realignment resulted in a reallocation of resources and a reduction in direct investment and sales efforts within the Hong Kong business. The Company clarifies that operations in Hong Kong have not been abandoned, nor classified as held for sale or discontinued. Rather, the Company continues to maintain an active operational presence in the region. This measured scaling down reflects a targeted approach to optimize performance and identify higher- margin opportunities across the Company’s global footprint. No impairment charges or restructuring costs were recorded. The operational performance is reflective of the Company’s recalibration of its Hong Kong footprint and the timing of new sales initiatives launched during the year. This strategic shift was shaped in part by macroeconomic and trade-related developments. Notably, in December 2024, the Chinese government lifted its remaining restrictions on Australian agricultural imports, including meat products. These policy changes materially altered sourcing patterns and introduced heightened competition across regional supply chains, prompting the Company to reassess its product mix and sourcing strategy for the Hong Kong segment. Looking ahead, management will continue to evaluate the performance and strategic relevance of its Hong Kong operations as part of broader geographic planning. While 2024 included a reduction in activity, the Company remains committed to assessing opportunities for sustainable growth in the region and will adjust the scope and scale of operations as necessary in response to evolving conditions.

F-85

TABLE OF CONTENTS

#### BTAB ECOMMERCE GROUP, INC. AND SUBSIDIARIES

### NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

#### NOTE 15 — SUBSEQUENT EVENTS
The Company has evaluated subsequent events or transactions occurring through September 18, 2025, the date on which the consolidated financial statements were available to be issued and determined that, there were no material events or transactions are required to be disclosed herein.

<div align='center'>F-86</div>

TABLE OF CONTENTS

#### Btab Ecommerce Group, Inc. and Subsidiaries
<div align='center'>Consolidated Financial Statements 
 For the Years Ended December 31, 2024, and 2023</div>

TABLE OF CONTENTS

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS OF BTAB ECOMMERCE GROUP, INC. AND SUBSIDIARIES

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| CONSOLIDATED FINANCIAL STATEMENTS                                            | ​ | ​ |      |   |              |   |   |
| Report of Independent Registered Public Accounting