Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 204

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 204
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 |   |      390,742 |   |
| Total property and equipment gross |     |   |  1,424,441 |   |     |   |    1,420,030 |   |
| Less - Accumulated depreciation    |     |   | (1,253,070 | ) |     |   |   (1,209,401 | ) |
| Total property and equipment net   |     | $ |    171,371 |   |     | $ |      210,629 |   |

Depreciation expense for the three
months ended March 31, 2025 and 2024, totaled $ and $, respectively.

F-9

6 - GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following is a summary of activity
in goodwill for the three months ended March 31, 2025 and 2024:

| Balance at December 31, 2024  |     | March 31, 
 2025      | 4,779,625 |
|:------------------------------|:----|:----------|----------:|
| Foreign exchange transactions |     |           |   144,526 |
| Balance at March 31, 2025     |     |           | 4,924,151 |

| Balance at December 31, 2023  |     | March 31, 
 2024      | 4,797,078 |
|:------------------------------|:----|:----------|----------:|
| Foreign exchange transactions |     |           |    16,156 |
| Balance at March 31, 2024     |     |           | 4,813,234 |

Intangible Assets

Intangible assets consist of the following:

|         |     | As of March 31, 2025 
 Amortization         
 Period               |          |     | Costs as of  
 December 31, 
 2024         |           |     | Additions |         |     | Disposals |   |     | Ending 
 Costs  |           |     | Accumulated  
 Amortization |            |   |     | Accumulated 
 Impairment  |   |     | Net Book 
 Value    |         |
|:--------|:----|:---------------------|:---------|:----|:-------------|----------:|:----|:----------|--------:|:----|:----------|:--|:----|:-------|