Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 371

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 371
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following is a summary of activity in goodwill:

    December
    31, 2024 
  
    Balance at December 31, 2022 
    $4,576,572 
  
    Foreign exchange transaction 
     220,506 
  
    Balance at December 31, 2023 
     4,797,078 
  
    Foreign exchange transactions 
     (17,453)
  
    Balance at December 31, 2024 
    $4,779,625 

Intangibles

Intangible
assets consist of the following:

    As
    of December 31, 2024 

    Amortization
    Period  
    Costs
    as of January 1, 2024  
    Additions  
    Disposals  
    Ending
    Costs  
    Accumulated
    Amortization  
    Accumulated
    Impairment  
    Net
    Book Value 
  
    Patents 
    5-15 years  
    $7,332,227  
    $219,241  
    $              -  
    $7,506,485  
    $(6,765,407) 
    $-  
    $786,061 
  
    IPR&D 
    5 years  
     5,015,694  
     -  
     -  
     5,015,694  
     (3,554,784) 
     (1,460,910) 
     - 
  
    Other
    intellectual assets 
    5 years  
     969,278  
     -  
     -  
     969,278  
     (969,278) 
     -  
     - 
  
    Intangible
    assets, net 
       
    $13,317,199  
    $219,241  
    $-  
    $13,536,440  
    $(11,289,469) 
    $(1,460,910) 
    $786,061 

F-21

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

    As
    of December 31, 2023

    Am