Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 0

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item 1. Financial Statements

VEEA INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

    March 31,

    December 31,

    2025

    2024

    (unaudited)

    ASSETS

    Cash
     
    $
    247,341

    $
    1,685,633

    Receivables, net

    82,128

    84,655

    Inventory, net

    7,777,249

    7,459,240

    Prepaid and other current assets

    5,553,840

    5,649,594

    Total current assets

    13,660,558

    14,879,122

    Property and equipment, net

    171,371

    210,629

    Goodwill

    4,924,151

    4,779,625

    Intangible assets, net

    898,052

    786,061

    Investments

    235,666

    235,596

    Other assets

    117,231

    202,862

    TOTAL ASSETS
     
    $
    20,007,029

    $
    21,093,895

    LIABILITIES AND STOCKHOLDERS’ DEFICIT

    Revolving line of credit
     
    $
    14,000,000

    $
    12,700,000

    Accounts payable

    3,913,079

    1,290,824

    Accrued expenses

    1,039,096

    1,911,722

    Related party accrued rent

    3,790,800

    3,657,600

    Share issuance liability

    350,000

    250,000

    Deferred payables, current

    2,295,339

    204,445

    Other current liabilities

    30,463

    121,579

    Total current liabilities

    25,418,777

    20,136,171

    Related party notes

    485,000

    -

    Convertible note payable, net

    327,679

    37,316

    Conversion option liability

    1,000