Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 198

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 198
---
, 2024 
    $15,560,000 

The
key inputs for the Earn-out Share Liability were as follows at September 13, 2024  initial value, and at December 31, 2024:

    December 31,
    2024  
    September 13,
    2024 
  
    Stock Price 
    $6.50  
    $12.00 
  
    Expected term (years) 
     10  
     10 
  
    Volatility 
     75.0% 
     70.0%
  
    Risk-Free Rate 
     3.81% 
     3.66%

15
- EARNINGS PER SHARE

As described in Note 4 - Reverse Recapitalization, the Company accounted
for the Business Combination as a reverse recapitalization. Earnings per share calculations for all periods prior to the Closing have
been retrospectively adjusted by the Exchange Ratio for the equivalent number of shares of Common Stock outstanding immediately after
the 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-37

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,