Integrated Wellness Acquisition Corp (IWAC) reported its financial results for the third quarter of 2025, revealing a net loss of $302,631 for the three months ending September 30, 2025, compared to a loss of $24,472 during the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $619,485, significantly higher than the $139,980 loss reported for the same period in the previous year. The increase in losses is attributed to higher formation and operating costs, which rose to $167,052 in Q3 2025 from $13,746 in Q3 2024, and accounting and legal expenses, which decreased to $184,122 from $443,204 in the same quarter last year.
The company’s total assets as of September 30, 2025, amounted to $15,047,245, a slight increase from $14,221,800 at the end of 2024. The increase in total assets was primarily driven by a rise in restricted cash and cash held in the Trust Account, which grew to $15,044,640 from $14,215,318. However, total liabilities also increased, reaching $12,696,752 compared to $11,341,823 at the end of the previous fiscal year. The company’s accumulated deficit widened to $12,694,435 from $11,335,628, reflecting ongoing operational challenges.
Strategically, IWAC has been focused on completing its business combination with Btab Ecommerce Group, Inc. The company entered into a Business Combination Agreement in May 2024, which was amended in August 2024. The transaction is expected to be executed in two steps, with IWAC merging with a subsidiary of a newly formed holding company, Pubco. The completion of this business combination is contingent upon shareholder approval and is anticipated to significantly impact the company’s future operations.
Operationally, IWAC has not generated any revenue to date, as its activities have been limited to identifying a target for a business combination and managing its financial resources. As of September 30, 2025, the company had no cash held outside the Trust Account, indicating a reliance on the funds within the Trust Account to finance its operations and the impending business combination. The company has also incurred significant costs related to its public company status, including legal and compliance expenses.
Looking ahead, IWAC faces substantial uncertainty regarding its ability to continue as a going concern. The company has indicated that it may need to raise additional capital to meet its operational needs and complete the business combination. The ongoing financial losses and reliance on external financing raise concerns about the company’s liquidity and operational viability in the near term. The management has acknowledged these challenges and is actively seeking solutions to secure the necessary funding to support its strategic objectives.
About Integrated Wellness Acquisition Corp
Integrated Wellness Acquisition Corp is a Cayman Islands-based blank check company focused on effecting an initial business combination. It primarily seeks to acquire or merge with operating businesses, often in early or growth stages, to facilitate their transition to public markets. The company offers a streamlined, cost-effective alternative to traditional IPOs, leveraging its public structure to provide growth capital and strategic opportunities.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.