Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 197

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 197
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14.0million was outstanding under the working capital facility, and $ 485,000was related party debt outstanding under the NLabs 2025 Notes (as defined below). Although the Company has had recurring losses each year since inception, the Company plans to fund its operations and capital funding needs through a combination of private and public equity and debt offerings, or a combination thereof, including (1) cash proceeds from the ELOC Program (as defined below) (2) the expected cash tax refund of up to $ 2.0million in respect of the Company’s UK subsidiary’s 2023 and 2024 research and development activities (3) the anticipated refund by June 30, 2025, of up to $ 5.0million of the Company’s prepayment for purchased inventory and (4) potential additional investments in the form of debt or equity to fund operating deficits from existing and/or new investors, including related parties, which may include the Company’s CEO and his affiliates. The Company expects it will be able to fund its operations over the next twelve months and has a reasonable basis to believe it has alleviated substantial doubt regarding its ability to continue as a going concern. Since January 1, 2025, the Company has received $ 826,000in additional loans from related parties and $ 1.0million in loans from unrelated parties in connection with the consummation of the acquisition of Crowdkeep. See Note 12 and Note 17 for additional information. 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, if at all. 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. We consolidate any variable interest entity (“VIE”) where we have determined we are the primary beneficiary. The primary beneficiary is the entity which has both: (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance