Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1069

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1069
---
 intellectual assets 
    5 years 
     969,278  
     -  
     -  
     969,278  
     (969,278) 
     -  
     - 
  
    Intangible
    assets, net 
      
    $13,205,748  
    $111,451  
    $-  
    $13,317,199  
    $(11,227,812) 
    $(1,460,910) 
    $628,477 

Intangible
assets primarily consist of patents, patent applications, and in-process research and development (“IPR&D”) and other
identifiable intangible assets. Intangible assets are generally amortized on a straight-line basis over the periods of benefit. The Company’s
patents have estimated remaining economic useful lives ranging from 5-15 years. Management reviews intangible assets for impairment when
events and circumstances warrant. December 31, 2024 and 2023, no events have occurred that required additional impairment of intangible
assets.

Intangible
asset amortization expense, for the years ended December 31, 2024 and 2023 totaled approximately $62,000 and $534,000, respectively.

Future
estimated amortization expense for the Company’s intangible assets is approximately as follows:

    Future estimated
    amortization as of December 31, 2024 

    2025 
     55,444 
  
    2026 
     55,444 
  
    2027 
     55,444 
  
    2028 
     55,444 
  
    2029 
     55,444 
  
    Thereafter 
     508,841 

    $786,061 

7
- DEBT

Total
outstanding debt of the Company is comprised of the following, including convertible notes and other related party debt: 

    December
    31, 2024 
    Principal  
    Debt
    Discount  
    Accrued
    Interest  
    Total 
  
    Revolving
    Loan Facility 
    $12,700,000  
    $-  
    $                  -  
    $12,700,000 
  
    Convertible
    note payable 
     1,200,000  
     (1,102,684)