Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 269

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 269
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 the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

| Cash paid for amounts included in the measurement of lease liabilities 
 Operating lease costs                                                  |     | Nine Months ended 
 September 30,     
 2024              |           |   |     | 2023 |           |   |
|:-----------------------------------------------------------------------|:----|:------------------|----------:|:--|:----|:-----|----------:|:--|
| Other than related parties                                             |     | $                 |   269,915 |   |     | $    |   265,664 |   |
| Related parties                                                        |     |                   |         - |   |     |      |   129,955 |   |
| Total                                                                  |     | $                 |   269,915 |   |     | $    |   395,619 |   |
| Weight-average remaining lease term-operating leases                   |     |                   |           |   |     |      |           |   |
| Other than related parties                                             |     |                   | 0.6 years |   |     |      | 1.2 years |   |
| Related Parties                                                        |     |                   |   - years |   |     |      | 0.3 years |   |
| Aggregate                                                              |     |                   | 0.6 years |   |     |      | 1.2 years |   |
| Weight-average discount rate-operating leases                          |     |                   |           |   |     |      |           |   |
| Other than related parties                                             |     |                   |      1.79 | % |     |      |      1.79 | % |
| Related Parties                                                        |     |                   |       N/A |   |     |      |     10.00 | % |
| Aggregate                                                              |     |                   |      1.79 | % |     |      |      4.01 | % |

Operating lease liabilities are based
on the net present value of the remaining lease payments over the remaining lease term. In determining the net present value of its lease
payments, the Company used an estimated incremental borrowing rate that is applicable to the Company based on the information available
at the later of the lease commencement date, lease modification date, or the date of adoption of ASC 842.

| Year                                   |     | Other than 
 related    
 parties    |