Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 43

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 outstanding NLabs 2025 Notes, plus accrued interest, in the aggregate amount of $3,239,096, with the issuance of 3,239,096 shares
of Common Stock with accompanying common warrants issued in the August 2025 Public Offering, based on the offering price of $1.00 per
share.

In October and November 2025, NLabs
made additional loans to the Company in the aggregate principal amount of $130,000 pursuant to certain promissory notes. Interest on the
NLabs promissory notes accrue at a rate of 10% per annum, calculated on the basis of a 365-day year. Principal and accrued interest is
payable upon the earlier of on demand and March 31, 2026.

14 - COMMITMENTS AND CONTINGENCIES

Purchase Commitments with Contract
Manufacturers and Suppliers

As of September 30, 2025, the Company
had no unconditional purchase obligations for the purchase of goods or services from suppliers and contract manufacturers. Unconditional
purchase obligations are obligations that are enforceable and legally binding on the Company and specify all significant terms, including
quantities to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. Unconditional purchase
obligations exclude agreements that are cancellable without penalty.

Leases

The Company leases office space in
the U.S., including office space from related parties as disclosed in Note 13. Under the terms of the various lease agreements, the Company
may bear certain costs such as maintenance, insurance and taxes. Lease agreements may provide for increasing rental payments at fixed
intervals. The Company’s CEO has guaranteed the obligations under the office space leased in New Jersey. The Company also leases
offices in the United Kingdom, France, and Mexico under short-term arrangements of twelve months or less.

Indemnifications

In the normal course of business, the
Company has indemnification obligations to other parties, including customers, lessors, and parties to other transactions with us, with
respect to certain matters. The Company has agreed to indemnify against losses arising from a breach of representations or covenants or
out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time or circumstances
within which an indemnification claim can be made and the amount of the claim.

It is not possible to determine the
maximum potential amount for claims made under the indemnification obligations due to uncertainties in the litigation process, coordination
with