Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1206

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1206
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31, 2024 and 2023, totaled approximately $212,000 and $226,000, respectively.

F-20

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Accrued
Expenses and Other Current Liabilities

Accrued
expenses and other current liabilities consist of the following:

    December
    31, 2024  
    December
    31, 2023 
  
    Payroll and payroll related expenses 
    $605,138  
    $503,629 
  
    Rent expenses - related party 
     3,657,000  
     3,124,800 
  
    Legal expenses 
     783,695  
     325,000 
  
    Consulting expenses 
     80,917  
     268,684 
  
    CEO expenses 
     -  
     179,075 
  
    Other accrued expenses
    and current liabilities 
     442,572  
     340,307 
  
    Total accrued expenses
    and other current liabilities 
    $5,569,322  
    $4,741,495 

6
- GOODWILL AND INTANGIBLE ASSETS

Goodwill

The
following is a summary of activity in goodwill:

    December
    31, 2024 
  
    Balance at December 31, 2022 
    $4,576,572 
  
    Foreign exchange transaction 
     220,506 
  
    Balance at December 31, 2023 
     4,797,078 
  
    Foreign exchange transactions 
     (17,453)
  
    Balance at December 31, 2024 
    $4,779,625 

Intangibles

Intangible
assets consist of the following:

    As
    of December 31, 2024 

    Amortization
    Period  
    Costs
    as of January 1, 2024  
    Additions  
    Disposals  
    Ending
    Costs  
    Accumulated
    Amortization  
    Accumulated
    Impairment  
    Net
    Book Value 
  
    Patents 
    5-15 years  
    $7,332,227  
    $219