Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 31

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 31
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 | We                                                                                                
 did not design and maintain effective controls over the accounting for inventory and related      
 accounts. Specifically, we did not design and maintain effective controls over verifying          
 the existence of inventory, the accuracy of purchases, manufacturing costs, and write-offs        
 and the financial statement presentation of inventory and related accounts.                       |
| ● | We                                                                                                
 did not design and maintain effective controls over the accounting for contract assets and        
 liabilities. Specifically, we did not design and maintain effective controls over the accuracy    
 and the financial statement presentation of contract assets and liabilities, including variable   
 consideration.                                                                                    |
| ● | We                                                                                                
 did not design and maintain effective controls over financial statement preparation, presentation 
 and disclosure commensurate with our financial reporting requirements. Specifically, we did       
 not design and maintain effective controls over the appropriate classification and presentation   
 of accounts and disclosures in the consolidated financial statements.                             |

| 19 |

These material weaknesses resulted in adjustments to accounts receivable, inventory, other current assets, current and non-current contract liabilities, accrued expenses and other current liabilities which were recorded prior to the issuance of the consolidated financial statements as of and for the years ended December 31, 2019, 2020 and 2021 and as of and for the interim periods ended September 30, 2021 and December 31, 2021. These material weaknesses also resulted in the revision of our consolidated financial statements for the year ended December 31, 2022 and as of and for the interim periods ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2023, June 30, 2023, and September 30, 2023. Also, these material weaknesses resulted in adjustments to debt – current portion and long-term debt, other income, additional paid in capital, gain on fair value of warrants, interest expense, revenue and contract assets, and loss on debt extinguishment which were recorded prior to the issuance of the consolidated financial statements as of and for the year ended December 31, 2023 and accounts receivable and contract assets as of and for the interim period ended June 30, 2025. Additionally, these material weaknesses could result in a misstatement of substantially all of our accounts or disclosures that would result in a material misstatement to the annual or interim consolidated financial statements that would not be prevented or detected.

| ● | We                                                                                                
 did not design and maintain effective controls over certain information technology (“