Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 203

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 203
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     |   |      2022 |   |
|:--------------------|:----|:-------------------|-----------:|:--|:----|:--|----------:|:--|
| Inventory           |     | $                  |  7,392,919 |   |     | $ | 7,315,754 |   |
| Inventory allowance |     |                    | (1,145,548 | ) |     |   |  (825,213 | ) |
| Consigned parts     |     |                    |  1,128,250 |   |     |   | 1,057,433 |   |
| Total               |     | $                  |  7,375,621 |   |     | $ | 7,547,974 |   |

Property and Equipment, net

|                                    |     | As of December 31, |      2023 |   |     |   |      2022 |   |
|:-----------------------------------|:----|:-------------------|----------:|:--|:----|:--|----------:|:--|
| Furniture and fixtures             |     | $                  |   683,994 |   |     | $ |   664,943 |   |
| Computer equipment                 |     |                    |   300,526 |   |     |   |   294,536 |   |
| Leasehold improvements             |     |                    |   390,742 |   |     |   |   390,742 |   |
| Total property and equipment gross |     |                    | 1,375,262 |   |     |   | 1,350,221 |   |
| Less -  Accumulated                
 depreciation                       |     |                    |  (998,595 | ) |     |   |  (772,952 | ) |
| Total property and equipment net   |     | $                  |   376,667 |   |     | $ |   577,269 |   |

Total depreciation expense
for the years ended December 31, 2023 and 2022 totaled $ and $, respectively.

Accrued Expenses and Other Current Liabilities

|                                                |     | As of December 31, |      2023 |     |   |      2022 |
|:-----------------------------------------------|:----|:-------------------|----------:|:----|:--|----------:|
| Payroll and