Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 99

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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  $-   $7,594,415  

     As of December 31, 2024     Amortization  Costs as of January 1,           Ending   Accumulated   Accumulated   Net Book      Period  2024   Additions   Disposals   Costs   Amortization   Impairment   Value   Patents  15 years  $7,332,227   $219,241   $-   $7,506,485   $(6,765,407)  $-   $786,061   IPR&D  5 years   5,015,694    -          -    5,015,694    (3,554,784)   (1,460,910)   -   Intangible assets, net     $12,347,921   $219,241   $-   $12,552,179   $(10,320,191)  $(1,460,910)  $786,061  

Intangible assets primarily consist
of proprietary technology, patents, patent applications, and in-process research and development (“IPR&D”) and other identifiable
intangible assets. Intangible assets are generally amortized on a straight-line basis over the periods of benefit. The Company’s
patents have estimated remaining economic useful lives ranging from 5-15 years and the proprietary technology acquired from Crowdkeep
Inc. has an estimated remaining useful life of 10 years. Management reviews intangible assets for impairment when events and circumstances
warrant. During the nine months ended September 30, 2025 and 2024, there were no events that necessitated additional impairment of intangible
assets.

Intangible asset amortization expense
for the three months ended September 30, 2025 and 2024, totaled $187,400 and $11,000, respectively. Intangible asset amortization expense
for the nine months ended September 30, 2025 and 2024, totaled $314,671 and $39,000, respectively.

12

Future estimated amortization expense
for the Company’s intangible assets is approximately as follows:

    Future estimated amortization as of September 30, 2025 

    Remainder of 2025 
    $187,619