Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 234

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 234
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2,802,970 |   |     | $    |  1,164,606 |   |
| Non-cash activities                                                          |     |                   |             |   |     |      |            |   |
| Initial measurement of debt discount on the convertible note                 |     | $                 |  (1,450,000 | ) |     | $    |          - |   |
| Conversion of related party notes to Common Stock                            |     | $                 |   2,205,497 |   |     | $    |          - |   |
| Initial measurement of the convertible note option liability                 |     | $                 |   1,450,000 |   |     | $    |          - |   |
| Conversion of principal on related party notes to Common Stock               |     | $                 |  12,598,000 |   |     | $    |  9,069,516 |   |
| Conversion of interest on replated notes to Common Stock                     |     | $                 |   3,141,846 |   |     | $    |  1,879,686 |   |
| Legacy Warrants issued with term note payable                                |     | $                 |           - |   |     | $    |  1,682,750 |   |
| Issuance of Common Stock related to convertible note payable                 |     | $                 |  24,000,000 |   |     | $    |          - |   |
| Conversion of vendor payable to Common Stock                                 |     | $                 |   3,422,028 |   |     | $    |          - |   |
| Supplemental cash flow information                                           |     |                   |             |   |     |      |            |   |
| Interest paid                                                                |     | $                 |     504,431 |   |     | $    |    353,025 |   |

<div align='center'>The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-42

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

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