Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 201

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 201
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  (998,595 | ) |     |   |  (772,952 | ) |
| Total property and equipment net   |     | $                  |   376,667 |   |     | $ |   577,269 |   |

Total depreciation expense for the years ended
December 31, 2023 and 2022 totaled $ and $, respectively.

Accrued Expenses and Other Current Liabilities

|                                                      |     | As of December 31, |      2023 |     |   |      2022 |
|:-----------------------------------------------------|:----|:-------------------|----------:|:----|:--|----------:|
| Payroll and payroll related expenses                 |     | $                  |   503,629 |     | $ |   324,230 |
| Rent expenses - related party                        |     |                    | 3,124,800 |     |   | 2,592,000 |
| Consulting expenses                                  |     |                    |   268,684 |     |   |   356,982 |
| CEO expenses                                         |     |                    |   179,075 |     |   |   789,575 |
| Other accrued expenses and current liabilities       |     |                    |   665,308 |     |   |   322,611 |
| Total accrued expenses and other current liabilities |     | $                  | 4,741,495 |     | $ | 4,385,398 |

5 - GOODWILL AND INTANGIBLE ASSETS

Goodwill

| Balance at December 31, 2021  |     | $ | 5,124,398 |   |
| Foreign exchange transactions |     |   |  (547,826 | ) |
| Balance at December 31, 2022  |     | $ | 4,576,572 |   |
| Foreign exchange transaction  |     |   |   220,506 |   |
| Balance at December 31, 2023  |     | $ | 4,797,078 |   |

<div align='center'>F-19

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

5 - GOODWILL AND INTANGIBLE ASSETS(cont.)

|                           |     | As of December 31, 2023 |     |           |            |