Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 239

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 239
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and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be
comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

<div align='center'>F-44

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

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

Segment Information

The Company operates as a single operating
segment. The chief operating decision maker is the Company’s Chief Executive Officer, who makes resource allocation decisions and
assesses performance based on financial information presented on a consolidated basis, accompanied by disaggregated revenue information.
Accordingly, the Company has determined that it has a single reportable segment and operating segment.

Fair Value Measurement

Fair value is defined as the price
that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction
between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs
and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered
observable and the last is considered unobservable:

| Level 1 - | Observable                                                                                  
 inputs obtained from independent sources, such as quoted market prices for identical assets 
 and liabilities in active markets.                                                          |

| Level 2 - | Other inputs,                                                                                                                         
 which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted 
 market prices for identical or similar assets or liabilities in markets that are not active, and inputs that are derived principally  
 from or corroborated by observable market data.                                                                                       |

| Level 3 - | Unobservable                                                                                                                             
 inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information 
 available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities.                |

The Company issued preferred stock warrants and common stock warrants classified as equity securities which do not require recurring fair value measurement. Refer to Note 9 - Incentive Plansfor the assumptions used in estimating the fair value of such common stock warrants .

Recurring Fair Value Measurements

The following methods and assumptions
were used to estimate the fair value of each class of financial assets and liabilities for which it is pract