Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 130

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 130
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 losses as it continues to grow and scale its business. As of March 31, 2025,
the Company had cash of $247,341 and outstanding debt of $15.2 million, of which $750,000 was outstanding under the September 2024 Notes,
$14.0 million was outstanding under the working capital facility, and $485,000 was related party debt outstanding under the 2025 Related
Party Notes.

Although we have incurred recurring losses each year since our inception,
we believe investments, cash proceeds generated from this offering, the expected cash tax refund of approximately $1.0 million in respect
of the Company’s UK subsidiary’s 2023 and 2024 research and development activities and potential additional investments in
the form of debt or equity to fund operating deficits from existing investors, including related parties, which may include the Company’s
CEO and his affiliates, ability to access capital markets and continued cost reduction measures will satisfy, through at least the next
12 months, our liquidity requirements, both in total and domestically, including the following: working capital needs (including inventory
and other supply related payments), capital expenditures, investment requirements, contractual obligations, commitments, principal and
interest payments on debt, and other liquidity requirements associated with our 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, if
at all.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.

Non-GAAP Financial Measures

To supplement our consolidated
financial statements, which are prepared and presented in accordance with GAAP, we use Adjusted EBITDA, as described below, to understand
and evaluate our core operating performance. These non-GAAP financial measures, which may differ from similarly titled measures used
by other companies, is presented to enhance investors’ overall understanding of our financial performance and should not be considered
a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

Adjusted EBITDA

The primary financial measure
we use is Adjusted EBITDA. We define Adjusted EBITDA as net (loss) income excluding income tax provision, interest expense, net of interest
income from related party loans, depreciation and amortization, stock-based compensation expense and non-core expenses/losses (gains),
including transaction-related costs, litigation-related costs, management fees, change in