Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 264

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 264
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 Notes. In March and April 2025, the Company’s CEO and NLabs made loans to the Company in the aggregate amount of $ 826,000. Interest on the loan accrues at a rate of 10% per annum, calculated on the basis of a 365-day year. Principal and accrued interest is payable on the earlier of demand or June 30, 2025. 13 - COMMITMENTS AND CONTINGENCIES Purchase Commitments with Contract Manufacturers and Suppliers As of June 30, 2024, the Company did not have any 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 12 - Related Party Transactions. These leases expire at various dates through 2025. 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 and France and Mexico under short-term arrangements of twelve months or less. F-55 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023

|                            |     | Year               
 ended December 31, |    2024 |     |   |    2023 |
|:---------------------------|:----|:-------------------|--------:|:----|:--|--------:|
| Lease cost:                |     |                    |         |     |   |         |
| Operating lease costs      |     |                    |         |     |   |         |
| Other than                 
 related parties            |     | $                  | 269,915 |     | $ | 352,911 |
| Related                    
 parties                    |     |                    | 524,599 |     |   | 483,592 |
| Total                      |     |                    | 794,514 |     |   | 836,503 |
| Short-term lease cost      |     |                    |         |