Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 609

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 609
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 through both online platforms and physical trading locations. The Company caters to a diverse customer base, ranging from individual one-time purchasers to institutional repeat clients.

BTEC was incorporated on January 30, 2019, in New South Wales, Australia. It offers ecommerce and social commerce solutions, technology services, domain name services and services for development of online marketplace.

LI was incorporated on October 28, 1992, in Western Australia, Australia. It is in the business of furniture manufacturing, wholesale, and research and development on commercial furniture design and manufacturing.

MI was incorporated on September 21, 2015, in Hong Kong, China. It operates in the wholesale food, grocery, and general goods supplies sector.

TE was incorporated on December 7, 2001, in Western Australia, Australia. It is in the business of homeware and furniture supplies.

Our business has traditionally followed seasonal trends, influenced by consumer behavior. Demand tends to peak in the fourth fiscal quarter, when there is more discretionary spending for the holiday season.

For our wholesale operations, the fourth fiscal quarter has historically seen the highest sales volume compared to other quarters. In contrast, our retail segment, which includes company-owned stores, typically experiences its highest sales volume in the second quarter.

We aim to maintain consistent production throughout the year, scheduling manufacturing to ensure steady activity. However, the second and third months generally bring lower demand across the furniture industry. As a result, we usually close our domestic plants for one week each fiscal year to conduct routine equipment maintenance.

At the end of June 30, 2025 we had about 57 full-time equivalent employees, slightly down from around 59 at the end of fiscal 2024. This decrease mainly resulted from efforts to improve efficiency by

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TABLE OF CONTENTS

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

### NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

### NOTE 1 — NATURE OF BUSINESS AND ORGANIZATION (continued)
adjusting staffing levels in our Australia Operations. Of the total employees at the end of fiscal 2024, approximately 31 worked in our Wholesale segment, 9 in Retail, 6 in our support business, with the rest being corporate staff. Most of our employees are full-time.

Currently management uses the legal entities under the other segment to operate the licenses and intellectual property provided by our affiliate company, Btab Group Inc.,