Integrated Wellness Acquisition Corp Q1 2024 10-Q Filed

TL;DR

IWAC Q1 2024 10-Q: Assets $4.26M, Liabilities $2.88M. SPAC financials detailed.

AI Summary

Integrated Wellness Acquisition Corp filed a 10-Q for the period ending March 31, 2024. The company reported total assets of $4,255,117 and total liabilities of $2,875,000. The filing also details various share classes and warrants, including common stock subject to redemption and public warrants.

Why It Matters

This filing provides a snapshot of Integrated Wellness Acquisition Corp's financial health and capital structure as of Q1 2024, which is crucial for investors and potential partners.

Risk Assessment

Risk Level: medium — As a SPAC, the company's primary risk is its ability to complete a business combination within its timeframe, which is not detailed in this financial filing.

Key Numbers

• $4.26M — Total Assets (As of March 31, 2024)
• $2.88M — Total Liabilities (As of March 31, 2024)

Key Players & Entities

• Integrated Wellness Acquisition Corp (company) — Filer of the 10-Q
• 20240331 (date) — End of reporting period
• $4,255,117 (dollar_amount) — Total assets as of March 31, 2024
• $2,875,000 (dollar_amount) — Total liabilities as of March 31, 2024
• 2021-12-13 (date) — Date related to public warrants

FAQ

Key Financial Figures

• $0.0001 — nsisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemab
• $11.50 — able for one Class A ordinary share for $11.50 per share WEL.WS The New York Stock
• $11.40 — and outstanding at redemption value of $11.40 and $11.12 per share as of March 31, 20
• $11.12 — nding at redemption value of $11.40 and $11.12 per share as of March 31, 2024 and Dece

Filing Documents

• wel-20240331x10q.htm (10-Q) — 738KB
• wel-20240331xex31d1.htm (EX-31.1) — 13KB
• wel-20240331xex31d2.htm (EX-31.2) — 13KB
• wel-20240331xex32d1.htm (EX-32.1) — 7KB
• wel-20240331xex32d2.htm (EX-32.2) — 7KB
• 0001410578-24-000915.txt ( ) — 3944KB
• wel-20240331.xsd (EX-101.SCH) — 42KB
• wel-20240331_cal.xml (EX-101.CAL) — 24KB
• wel-20240331_def.xml (EX-101.DEF) — 179KB
• wel-20240331_lab.xml (EX-101.LAB) — 272KB
• wel-20240331_pre.xml (EX-101.PRE) — 240KB
• wel-20240331x10q_htm.xml (XML) — 506KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit for the Three Months Ended March 31, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures. 24

– OTHER INFORMATION

PART II – OTHER INFORMATION 26 Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27

SIGNATURES

SIGNATURES 28 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INTEGRATED WELLNESS ACQUISITION CORP CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (unaudited) ASSETS Current assets Cash $ 7,410 $ 7,567 Prepaid expenses 36,944 — Total Current Assets 44,354 7,567 Non-current assets: Cash held in Trust Account 48,490,095 47,466,611 Total Non-current Assets 48,490,095 47,466,611 TOTAL ASSETS $ 48,534,449 $ 47,474,178 LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT Current liabilities Accrued expenses $ 1,279,416 $ 1,179,943 Accounts payable 387,728 348,345 Due to related party 233,229 233,229 Due to Suntone 1,244,935 556,390 Promissory note–related party 1,790,000 1,790,000 Total Current Liabilities 4,935,308 4,107,907 Non-current liabilities: Deferred underwriter's fee payable 4,025,000 4,025,000 Total Noncurrent Liabilities 4,025,000 4,025,000 Total Liabilities 8,960,308 8,132,907 Commitments and Contingencies (Note 5) Class A ordinary shares subject to possible redemption, $ 0.0001 par value; 4,255,117 shares issued and outstanding at redemption value of $11.40 and $11.12 per share as of March 31, 2024 and December 31, 2023, respectively 48,490,095 47,466,611 Shareholders' Deficit Preference shares, $ 0.0001 par value, 1,000,000 shares authorized; none issued and outstanding — — Class A ordinary shares subject to possible redemption, $ 0.0001 par value; 479,000,000 shares authorized; no shares issued and outstanding (excluding 4,255,117 shares subject to possible redemption) — — Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 2,875,000 shares issued and outstanding 288 288 Additional paid-in capital — — Accumulated deficit ( 8,916,242 ) ( 8,125,628 ) Total Shareholders' Deficit ( 8,915,954 ) ( 8,125,340 ) TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIB

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