Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 248

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 248
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 equipment    
 net                             |     | $ |    210,629 |   |     | $ |   376,667 |   |

Total depreciation expense for the years ended December 31, 2024 and 2023, totaled approximately $ 212,000and $ 226,000, respectively.

F-43 Veea Inc. and Subsidiaries Notes to the Consolidated Financial Statements For the Years ended December 31, 2024 and 2023

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:

|                                      |     |   |  December 
       31, 
      2024 |     |   |  December 
       31, 
      2023 |
|:-------------------------------------|:----|:--|----------:|:----|:--|----------:|
| Payroll and payroll related expenses |     | $ |   605,138 |     | $ |   503,629 |
| Rent expenses - related party        |     |   | 3,657,000 |     |   | 3,124,800 |
| Legal expenses                       |     |   |   783,695 |     |   |   325,000 |
| Consulting expenses                  |     |   |    80,917 |     |   |   268,684 |
| CEO expenses                         |     |   |         - |     |   |   179,075 |
| Other accrued expenses               
 and current liabilities              |     |   |   442,572 |     |   |   340,307 |
| Total accrued expenses               
 and other current liabilities        |     | $ | 5,569,322 |     | $ | 4,741,495 |

6 - GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following is a summary of activity in goodwill:

| Balance at December 31, 2022  |     | December 
 31,      
 2024     | 4,576,572 |   |
|:------------------------------|:----|:---------|----------:|:--|
| Foreign exchange transaction  |     |          |   220,506 |   |
| Balance at December 31, 2023  |     |          | 4,797,078 |   |
| Foreign exchange transactions |     |          |   (17,453 | ) |
| Balance