Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 75

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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  -    5,015,694    (3,554,784)   (1,460,910)   -   Other intellectual assts   5 years    969,278    -    -    969,278    (969,278)   -    -   Intangible assets, net       $13,317,199   $219,241   $-   $13,536,440   $(11,289,469)  $(1,460,910)  $786,061  

Intangible assets primarily consist
of 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. Management reviews intangible assets for impairment when events and circumstances
warrant. During the three months ended March 31, 2025 and 2024, there were no events that necessitated additional impairment of intangible
assets.

Intangible asset amortization expense
for the three months ended March 31, 2025 and 2024, totaled $19,000 and $14,065, respectively.

9

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

    Future estimated amortization as of March 31, 2025 

    Remainder of 2025 
    $57,000 
  
    2026 
     76,000 
  
    2027 
     76,000 
  
    2028 
     76,000 
  
    2029 
     76,000 
  
    Thereafter 
     537,052 

    $898,052 

7 - DEBT

Total outstanding debt of the Company
is comprised of the following, including convertible notes and other related party debt:

    March 31, 2025 
    Principal  
    Debt Discount  
    Accrued Interest  
    Total 
  
    Revolving Loan Facility 
    $14,000,000  
    $-  
    $      -  
    $14,000,000 
  
    Convertible note payable 
     750,000