Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 232

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 232
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 of the Company’s $5 million downpayment for
certain inventory purchased from iFREE Group Holdings Limited, the Company expects it will
be able to funds its operations over the next twelve months. The Company may seek additional
funding through debt or other equity financing arrangements, implement incremental expense
reduction measures or a combination thereof to continue financing its operations. Although
management continues to pursue these plans, there is no assurance that the Company will be
successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing
operations, if at all. See Note 17 “Subsequent Events” for further information
regarding the Equity Line of Credit.

The Company’s condensed consolidated
financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things,
the realization of assets and satisfaction of liabilities in the normal course of business. The condensed consolidated financial statements
do not include adjustments to reflect the possible future effects on the recoverability and classification of recorded assets or the
amounts of liabilities that might be necessary should the Company be unable to continue as a going concern.

3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

The
accompanying unaudited condensed consolidated financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of America
(“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission
(the “SEC”) for interim financial information. Accordingly, certain information
and footnote disclosures normally included in consolidated financial statements in accordance
with GAAP have been omitted. In the opinion of management, all adjustments considered necessary
for a fair presentation have been included.

All significant intercompany
balances and transactions have been eliminated in consolidation.

The condensed consolidated balance
sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date, but does not include all
disclosures, including notes, required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial
statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in the Company’s
Annual Report on Form S-1 for its year ended December 31, 2023.

Basis of Accounting

The
accompanying condensed consolidated financial statements have been prepared on the accrual
basis in accordance with accounting principles generally accepted under GAAP.

Use of Estimates

Management of the Company is required
to make certain estimates,