Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 899

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 899
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 examining, on a test basis, evidence regarding the amounts and disclosures in the
consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by
management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide
a reasonable basis for our opinion.

/s/ PKF O’Connor Davies, LLP

We have served as the Company’s auditor
since 2023.

New York, New York

April 15, 2025

PCAOB ID No. 127

* * * * *

F-1

VEEA
INC. AND SUBSIDIARIES

CONSOLIDATED
BALANCE SHEETS

    December 31,

    December 31,

    2024

    2023

    ASSETS

    Cash
     
    $
    1,685,633

    $
    6,010,075

    Receivables, net

    84,655

    52,838

    Inventory, net

    7,459,240

    7,375,621

    Prepaid and other current assets

    5,649,594

    513,670

    Total current assets

    14,879,122

    13,952,204

    Property and equipment, net

    210,629

    376,667

    Goodwill

    4,779,625

    4,797,078

    Intangible assets, net

    786,061

    628,477

    Right-of-use assets

    117,365

    545,411

    Investments

    235,596

    451,874

    Security deposits

    85,497

    85,595

    TOTAL ASSETS
     
    $
    21,093,895

    $
    20,837,306

    LIABILITIES AND STOCKHOLDERS’ DEFICIT

    Revolving line of credit
     
    $
    12,700,000

    $
    9,000,000

    Related party notes, net of discount

    -

    12,598,000

    Accrued interest, related party

    -

    2,272,993

    Accounts payable

    1,290,824

    1,077,898