Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 20

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 -          -    5,015,694    (3,554,784)   (1,460,910)   -   Intangible assets, net     $12,347,921   $219,241   $-   $12,552,179   $(10,320,191)  $(1,460,910)  $786,061  

Intangible assets primarily consist
of proprietary technology, 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 and the proprietary technology associated with the Crowdkeep
Transaction, as defined below, has an estimated remaining useful life of 10 years. Management reviews intangible assets for impairment
when events and circumstances warrant. During the six months ended June 30, 2025 and 2024, there were no events that necessitated additional
impairment of intangible assets.

Intangible asset amortization expense
for the three months ended June 30, 2025 and 2024, totaled $108,272 and $14,000, respectively. Intangible asset amortization expense for
the six months ended June 30, 2025 and 2024, totaled $127,272 and $28,000, respectively.

11

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

    Future estimated amortization as of June 30, 2025 

    Remainder of 2025 
    $373,230 
  
    2026 
     740,335 
  
    2027 
     740,335 
  
    2028 
     742,152 
  
    2029 
     740,335 
  
    Thereafter 
     4,385,172 

    $7,721,559 

8 - DEBT

Total outstanding debt of the Company
is comprised of the following, including convertible notes:

    June 30, 2025 
    Principal  
    Debt Discount  
    Total 
  
    Revolving Loan Facility 
    $14,000,000  
    $-  
    $14