Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 197

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 197
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2, no customer accounted for % or more of
the Company’s revenue. For the year ended December 31, 2023, one supplier accounted for % of the Company’s total
supplier purchases. For the year ended December 31, 2022, two suppliers accounted for % and %, respectively, of the Company’s
total supplier purchases.

As of December 31, 2023, two customers accounted
for % and % of the Company’s accounts receivable, and no vendor accounted for 10% or more of the Company’s accounts
payable balance. As of December 31, 2022, four customers accounted for %, %, % and % of the Company’s accounts
receivable, and one vendor accounted for % of the Company’s accounts payable balance.

Earnings per Share

Basic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the year. Diluted net loss per share is based upon the diluted weighted-average number of shares outstanding during the year. Diluted net loss per share gives effect to all potentially dilutive common share equivalents, including stock options, and warrants, to the extent they are dilutive. Refer to Note 13 - Earnings Per Share.

Warrants

The Company accounts for warrants as either equity-classified
or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance
in FASB Accounting Standards Codification 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives
and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant
to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for
equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether
the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control,
among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the
time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of
the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time
of issuance. For issued or modified warrants that do not