Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 225

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 225
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 mediation and ultimately confidentially
settled. The Company’s portion of the settlement amount totaled the amount of the recorded reserve and settlement amounts in excess
of the Company’s deductible were paid by the Company’s insurance carrier.

<div align='center'>F-31

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

11 - COMMITMENTS AND CONTINGENCIES(cont.)

Other Commitments

In connection with the Business
Combination transaction, Veea agreed to pay certain legal expenses contingent upon the closing of the Business Combination. As of December 31,
2023, the amount of the deferred fees totaled approximately $.

12 - FAIR VALUE MEASUREMENTS

Money Market Funds

The Money Market Funds are
classified within Level 1 as these securities are traded on an active public market. As of December 31, 2023, the Company held approximately
$ in money market funds. The Company held no money market funds at December 31, 2022.

13 - EARNINGS PER SHARE

| Numerator:                                           |     | Years Ended December 31, 
 2023                     |             |   |     | 2022 |             |   |
|:-----------------------------------------------------|:----|:-------------------------|------------:|:--|:----|:-----|------------:|:--|
| Net loss attributable to Veea Inc.                   |     | $                        | (15,638,589 | ) |     | $    | (35,167,089 | ) |
| Denominator:                                         |     |                          |             |   |     |      |             |   |
| Weighted-average common shares outstanding - and     
 diluted                                              |     |                          |   7,235,733 |   |     |      |   7,203,514 |   |
| Earnings per share:                                  |     |                          |             |   |     |      |             |   |
| Net loss attributable to Veea Inc. per share - basic 
 and diluted                                          |     |                          |       (2.16 | ) |     |      |       (4.89 | ) |

|                                      |     | Years Ended December 31, |             |     |      |            |
|                                      |     |                     2023 |             |     | 2022 |            |
| Convertible notes                    |     |                          |           - |