Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 240

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 240
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 have been prepared in
accordance with accounting principles generally accepted in the United States of America
(“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission
(the “SEC”) for interim financial information. Accordingly, certain information
and footnote disclosures normally included in consolidated financial statements in accordance
with GAAP have been omitted. In the opinion of management, all adjustments considered necessary
for a fair presentation have been included.

All significant intercompany
balances and transactions have been eliminated in consolidation.

The condensed consolidated balance
sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date, but does not include all
disclosures, including notes, required by GAAP for complete financial statements. The unaudited interim condensed consolidated financial
statements should be read in conjunction with the consolidated financial statements and accompanying footnotes included in the Company’s
Annual Report on Form S-1 for its year ended December 31, 2023.

Basis of Accounting

The
accompanying condensed consolidated financial statements have been prepared on the accrual
basis in accordance with accounting principles generally accepted under GAAP.

Use of Estimates

Management of the Company is required
to make certain estimates, judgments, and assumptions during the preparation of its condensed consolidated financial statements in accordance
with GAAP. The Company believes that these estimates, judgments and assumptions are reasonable under the circumstances. These estimates,
judgments, and assumptions impact the reported amounts of assets, liabilities, revenue, and expenses, and the related disclosure of contingent
assets and liabilities. Actual results could differ from these estimates. Changes in such estimates could affect amounts reported in
future periods. On an ongoing basis, the Company evaluates its estimates and judgments including those related to: liquidity and going
concern, the useful lives and recoverability of property and equipment and definite-lived intangible assets; the recoverability of goodwill
and indefinite-lived intangible assets; the carrying value of accounts receivable, including the determination of the allowance for credit
losses; inventory, including the determination of allowances for estimated excess or obsolescence; the fair value of warrants; the fair
value of acquisition- related contingent consideration arrangements; unrecognized tax benefits; legal contingencies; the incremental
borrowing rate for the Company’s leases; and the valuation of stock-based compensation, among others.

Reclassification

Certain amounts from prior period
financial statements have been reclassified to align with the presentation used in the current condensed consolidated financial statements
for