Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1185

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1185
---
 related party notes to Common Stock
     
    $
    12,598,000

    $
    -

    Conversion of interest on related party notes to Common Stock
     
    $
    3,141,846

    $
    -

    Issuance of Common Stock related to convertible note payable
     
    $
    24,000,000

    $
    -

    Conversion of vendor payable to Common Stock
     
    $
    3,422,028

    $
    1,920,124

    Conversion of principal on convertible notes to preferred stock - Series A-1
     
    $
    -

    $
    8,993,240

    Conversion of interest on convertible notes to preferred stock - Series A-1
     
    $
    -

    $
    1,955,957

    Private Veea Warrants issued with term note payable
     
    $
    -

    $
    1,682,750

    Conversion of notes payable to Series A-2 Preferred Shares
     
    $
    -

    $
    3,076,274

    Supplemental cash flow information

    Interest paid
     
    $
    504,431

    $
    892,336

The
accompanying notes are an integral part of these consolidated financial statements.

F-6

Veea
Inc. and Subsidiaries
Notes to the Consolidated Financial Statements 
For the Years ended December 31, 2024 and 2023

1
- DESCRIPTION OF BUSINESS 

The
Company is a provider of edge computing and communications devices (i.e., “VeeaHub®” devices), applications and services
hosted on its edge Platform-as-a-Service (“ePaaS”). Veea Edge Platform ePaaS is an end-to-end platform that is both locally-
and cloud-managed. VeeaHub® products are converged computing and communications (i.e., hyperconverged) indoor and outdoor devices,
about the size of a Wi-Fi Access Point (AP), that provide for networking and computing solutions for AI-assisted applications and solutions
at the edge where people, places, and things connect to the network.

Veea
Edge Platform™ provides for highly secure connectivity, computing, and IoT solutions through full stack platform for digital transformation
of industries as well as unserved or underserved communities that lack Internet connectivity and essential applications and services.
It further enables the formation of highly secure, but