Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 188

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 188
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lives and recoverability of property and equipment and definite-lived intangible assets; the recoverability of goodwill and indefinite-lived
intangible assets; the carrying value of accounts receivable, including the determination of the allowance for credit losses; inventory,
including the determination of allowances for estimated excess or obsolescence; the
fair value of warrants; the fair value of acquisition-related contingent consideration arrangements; unrecognized tax benefits; legal
contingencies; the incremental borrowing rate for the Company’s leases; and the valuation of stock-based compensation, among others.

<div align='center'>F-10

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

3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.)

Emerging Growth Company Status

Following the consummation of the proposed business combination transaction with Plum, the Company is expected to be a publicly traded company and an emerging growth company (“EGC”), as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGCs can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until those standards apply to private companies. In anticipation of the closing the business combination transaction with Plum, the Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an EGC or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the consolidated financial statements may not be comparable to the financial statements of companies that comply with the new or revised accounting pronouncements as of dates effective for public companies. Refer to Note 1 - Description of the Business for further information regarding the proposed business combination transaction.

Segment Information

The Company operates as a single operating segment.
The chief operating decision maker is the Company’s Chief Executive Officer, who makes resource allocation decisions and assesses
performance based on financial information presented on a consolidated basis, accompanied by disaggregated revenue information. Accordingly,
the Company has determined that it has a single reportable segment and operating segment.

Fair Value Measurement

Fair value is defined as the price that would be
received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between
market participants on