Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 271

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 271
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 Closing to effect the reverse recapitalization. Subsequent to the Closing, earnings per share is calculated based on the weighted average number of shares of Common Stock outstanding. F-60 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023

16 – INCOME TAXES

Net loss for the years ended December 31, 2024 and 2023, was as follows:

|          |     | December 31, 
 2024         |             |   |     | 2023 |             |   |
|:---------|:----|:-------------|:------------|:--|:----|:-----|:------------|:--|
| Domestic |     | $            | (41,380,390 | ) |     | $    | (9,557,067  | ) |
| Foreign  |     |              | (6,167,378  | ) |     |      | (6,081,522  | ) |
| Net Loss |     | $            | (47,547,768 | ) |     | $    | (15,638,589 | ) |

Provision for income taxes for the years ended December 31, 2024 and 2023, consisted of the following:

|                                  |     | December 31, |   2024 |     |   |   2023 |
|:---------------------------------|:----|:-------------|-------:|:----|:--|-------:|
| Current tax provision            |     | $            |      - |     | $ |      - |
| Federal                          |     |              |        |     |   |        |
| State and local                  |     |              | 15,325 |     |   |  7,141 |
| Foreign                          |     |              |      - |     |   | 67,356 |
| Total current tax provision      |     |              | 15,325 |     |   | 74,497 |
| Deferred tax provision Federal   |     |              |      - |     |   |      - |
| State and local                  |     |              |      - |     |   |      - |
| Foreign                          |     |              |      - |     |   |      - |
| Total deferred tax provision     |     |              |      - |     |   |      - |