Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 245

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 245
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 the purchased inventory. Upon the return of the Company’s down payment, the order will terminate. As of
December 31, 2024, the deposit has not been returned. The Company expects the return of the deposit before June 30, 2025.

Property and Equipment, net

Property and equipment, net consists of the following:

|                                 |     |   |   December 
        31, 
       2024 |   |     |   |  December 
       31, 
      2023 |   |
|:--------------------------------|:----|:--|-----------:|:--|:----|:--|----------:|:--|
| Furniture and fixtures          |     | $ |    702,122 |   |     | $ |   683,763 |   |
| Computer equipment              |     |   |    327,166 |   |     |   |   300,101 |   |
| Leasehold improvements          |     |   |    390,742 |   |     |   |   390,742 |   |
| Total property and equipment    
 gross                           |     |   |  1,420,030 |   |     |   | 1,374,606 |   |
| Less - Accumulated depreciation |     |   | (1,209,401 | ) |     |   |  (997,939 | ) |
| Total property and equipment    
 net                             |     | $ |    210,629 |   |     | $ |   376,667 |   |

Total depreciation expense for the years ended December 31, 2024 and 2023, totaled approximately $ 212,000and $ 226,000, respectively.

F-43 Veea Inc. and Subsidiaries Notes to the Consolidated Financial Statements For the Years ended December 31, 2024 and 2023

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:

|                                      |     |   |  December 
       31, 
      2024 |     |   |  December 
       31, 
      2023 |
|:-------------------------------------|:----|:--|----------:|:----|:--|----------:|
| Payroll and payroll related expenses |     | $ |   605,138 |     | $ |   503,629 |
| Rent