Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 370

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 370
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, the order will terminate. As of
December 31, 2024, the deposit has not been returned. The Company expects the return of the deposit before June 30, 2025.

Property
and Equipment, net

Property
and equipment, net consists of the following:

    December
    31, 2024  
    December
    31, 2023 
  
    Furniture and fixtures 
    $702,122  
    $683,763 
  
    Computer equipment 
     327,166  
     300,101 
  
    Leasehold improvements 
     390,742  
     390,742 
  
    Total property and equipment
    gross 
     1,420,030  
     1,374,606 
  
    Less - Accumulated depreciation 
     (1,209,401) 
     (997,939)
  
    Total property and equipment
    net 
    $210,629  
    $376,667 

Total
depreciation    expense for the years ended December 31, 2024 and 2023, totaled approximately $212,000 and $226,000, respectively.

F-20

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Accrued
Expenses and Other Current Liabilities

Accrued
expenses and other current liabilities consist of the following:

    December
    31, 2024  
    December
    31, 2023 
  
    Payroll and payroll related expenses 
    $605,138  
    $503,629 
  
    Rent expenses - related party 
     3,657,000  
     3,124,800 
  
    Legal expenses 
     783,695  
     325,000 
  
    Consulting expenses 
     80,917  
     268,684 
  
    CEO expenses 
     -  
     179,075 
  
    Other accrued expenses
    and current liabilities 
     442,572  
     340,307 
  
    Total accrued expenses
    and other current liabilities 
    $5,569,322  
    $4,741,495 

6
- GOODWILL AND INTANGIBLE ASSETS

Goodwill

The