Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 193

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 193
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, and the fair value of the reporting unit is determined by analyzing the expected present
value of future cash flows. If the carrying value of the reporting unit continues to exceed its fair value, the fair value of the reporting
unit’s goodwill is calculated and an impairment loss equal to the excess is recorded. The Company’s goodwill was recorded
in connection with an acquisition consummated in June 2018. The Company considers goodwill to have an indefinite life and is not
amortized. As of December 31, 2023 and 2022, no events have occurred that would require impairment of goodwill.

Impairment of Long-Lived Assets

Long-lived assets with finite
lives consist primarily of property and equipment, operating lease right-of-use assets, and intangible assets which are reviewed for
impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability
of assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future net cash flows
expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment
charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset.

Stock-Based Compensation

The Company accounts for
stock-based compensation expense in accordance with ASC 718, Compensation-Stock Compensation (“ASC 718”).
The Company measures and recognizes compensation expense for all stock-based awards based on estimated fair values on the date of the
grant, recognized over the requisite service period. For awards that vest solely based on a service condition, the Company recognizes
stock-based compensation expense on a straight-line basis over the requisite service period. The Company accounts for forfeitures as
they occur.

<div align='center'>F-15

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

3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

Income Taxes

Effective June 8, 2018,
the Company converted from an S Corporation to a C Corporation for federal and state income tax purposes. Accordingly, prior to the conversion
to a C corporation, the Company did not record deferred tax assets or liabilities or have any net operating loss carryforwards. The Company
is required to file tax returns in the U.S. federal jurisdiction and various states and