Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1039

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 4
Chunk 1039
---

    8,605,328

    Operating Expenses:

    Product development

    1,373,351

    693,448

    Sales and marketing

    811,537

    215,332

    General and administrative, net

    26,638,816

    17,238,184

    Transaction costs including those incurred with contingent Earn-out Share Liability

    55,038,544

    -

    Depreciation and amortization

    273,772

    818,203

    Total operating expenses

    84,136,020

    18,965,167

    Income (loss) from operations

    (84,077,550
    )

    (10,359,839
    )

    Other income and (expense):

    Other income, net

    21,390

    59,982

    UK R&D tax credit

    1,251,243

    -

    Loss on initial issuance of convertible note

    (1,770,933
    )

    -

    Change in fair value of convertible note option liability

    840,933

    -

    Change in fair value of warrant liabilities

    200,124

    -

    Change in fair value of Earn-out Share Liability

    38,040,000

    -

    Other expense

    (244,732
    )

    (21,857
    )
  
    Interest income

    -

    1,942

    Interest expense

    (1,808,243
    )

    (5,318,817
    )
  
    Total other income and (expense)

    36,529,782

    (5,278,750
    )

    Net loss
     
    $
    (47,547,768
    )
     
    $
    (15,638,589
    )

    Basic and diluted weighted average shares outstanding, common stock

    25,257,473

    16,154,794

    Basic and diluted net (loss) income per Common Stock
     
    $
    (1.88
    )
     
    $
    (0.97
    )

The
accompanying notes are an integral part of these consolidated financial statements.

F-3

VEEA
INC. AND SUBSIDIARIES

CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME (LOSS