Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 223

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 223
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 remaining lease term. In determining the net present value
of its lease payments, the Company used an estimated incremental borrowing rate that is applicable to the Company based on the information
available at the later of the lease commencement date, lease modification date, or the date of adoption of ASC 842. As of December 31,
2023, the maturities of the Company’s operating lease liabilities were as follows:

| Year                                    |     | Other than      
 related parties |         |   |     | Related 
 parties |        |   |     | Total |         |   |
|:----------------------------------------|:----|:----------------|--------:|:--|:----|:--------|-------:|:--|:----|:------|--------:|:--|
| 2024                                    |     | $               | 360,359 |   |     | $       | 88,800 |   |     | $     | 449,159 |   |
| 2025                                    |     |                 | 121,851 |   |     |         |      - |   |     |       | 121,851 |   |
| Total lease payments                    |     |                 | 482,210 |   |     |         | 88,800 |   |     |       | 571,010 |   |
| Less: imputed interest                  |     |                 |  (5,369 | ) |     |         |   (367 | ) |     |       |  (5,736 | ) |
| Present value of lease liabilities      |     | $               | 476,841 |   |     | $       | 88,433 |   |     | $     | 565,274 |   |
| Operating lease liabilities, current    |     | $               | 357,417 |   |     | $       | 88,433 |   |     | $     | 445,850 |   |
| Operating lease liabilities, noncurrent |     |                 | 119,424 |   |     |         |      - |   |     |       | 119,424 |   |
|                                         |     | $               | 476,841 |   |     | $       | 88,433 |   |     | $     | 565,274 |   |

Warranties

The Company accrues the
estimated cost of product warranties at the time of recognizing revenue. The Company’s standard product warranty