Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 2

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 administrative, net 
     5,109,473  
     5,845,775 
  
    Transaction costs 
     35,000  
     - 
  
    Depreciation and amortization 
     60,116  
     68,916 
  
    Total operating expenses 
     5,769,415  
     6,095,178 
  
    Loss from operations 
     (5,767,483) 
     (6,090,392)

    Other income (expense): 

    Other income, net 
     772  
     2,584 
  
    Change in fair value of convertible note option liability 
     59,000  
     - 
  
    Change in fair value of warrant liabilities 
     420,497  
     - 
  
    Change in fair value of Earn-out Share Liability 
     10,530,000  
     - 
  
    Other expense 
     2,750  
     (2,836)
  
    Interest expense 
     (946,484) 
     (456,768)
  
    Total other income (expense) 
     10,066,534  
     (457,020)

    Net income (loss) 
    $4,299,052  
    $(6,547,412)

    Net income (loss) per share: 

    Basic 
    $0.12  
    $(0.31)
  
    Diluted 
    $0.12  
    $(0.31)

    Weighted-average common stock outstanding used in per share amounts: 

    Basic 
     36,369,224  
     21,115,617 
  
    Diluted 
     36,583,665  
     21,115,617 

    Other comprehensive income (loss): 

    Foreign currency translation adjustment 
     20,411  
     365,381 
  
    Comprehensive income (loss) 
    $4,319,462  
    $(6,182,031)

The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements.

2

VEEA
INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’
DEFICIT

(Unaudited)

FOR THE THREE MONTHS ENDED MARCH 31,