Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 422

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 422
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| Operating expenses   | ​ | ​ | ​                              | ​ | 3,013,974 | ​ | ​ | ​ | ​                      | ​ | 96,714 | ​ | ​ | ​ | ​                     | ​ | 3,110,688 | ​ | ​ |
| Loss from operations | ​ | ​ | ​                              | $ |  -736,429 | ​ | ​ | ​ | ​                      | ​ | -9,038 | ​ | ​ | ​ | ​                     | ​ |  -745,467 | ​ | ​ |

(1) Represents the change in reported amounts resulting from changes in foreign exchange rates from those in effect in the comparable prior year period for operating results. (2) Represents the outcome that would have resulted had foreign exchange rates in the reported period been the same as those in effect in the comparable prior year period for operating results. Contractual Obligations and Commitments Leases In January 2024, we entered into an operating lease in Bassandean in Australia with the lease expiring in 2027. As of June 30, 2025, we had future minimum payments of $968,178 of which, 376,694 is due in the next twelve months. In July 2023, we entered into two operating leases in Malaga, Perth in Australia with the leases expiring in 2026. As of June 30, 2025, we had future minimum lease payments of $233,276, which are due within the next twelve months. Notes Payable As part of the business combination in March 2023, we assumed an unsecured note payable with an unrelated entity for $300,000, with a maturity date of December 31, 2020. The note carries an annual interest rate of 4% and a default interest rate of 10%. On December 31, 2020, the note fell into default and all outstanding principal and interest was due on demand. The default interest was waived for 2024 and 2023. As of June 30, 2025 and December 31, 2024 the amount owed for this note was $300,000 principal and $73,348 accrued interest. Per preliminary discussions with the note holder, the note is expected to be settled after the business combination with IWAC. Loans Payable As of June 30, 2025 and December 31, 2024, notes payable balance and the related accrued interest due was $373,