Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 276

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 276
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 individual investee, is measured and accounted for using an alternative measurement basis
of a) the security’s carrying value at cost, b) less any impairment and c) plus or minus any qualifying observable price changes.
Observable price changes or impairments recognized on the Company’s private company investments would be classified as a Level 3
financial instrument within the fair value hierarchy based on the nature of the fair value inputs. Any adjustments to the carrying values
are recognized in other income, net in the Company’s consolidated statements of operations and comprehensive loss. As of December
31, 2024, the Company performed the qualitative assessment for impairment of its investments. Based on this qualitative assessment, impairment
indicators were present for one of its investments; therefore, the company performed an analysis to estimate its fair value and recognized
an impairment loss of $216,278. As of June 30, 2025, there were no indicators of impairment. The carrying value of the Company’s
private company investments was $235,737 as of both June 30, 2025 and December 31, 2024. These investments, which do not have a stated
contractual maturity date, were classified as Investments on the Company’s consolidated balance sheets.

10 - STOCKHOLDERS’ EQUITY

On September 13, 2024, the Company
consummated the Business Combination which was accounted for as a reverse recapitalization. In connection with the consummation of
the Business Combination (i) the Company de-registered from the Register of Companies in the Cayman Islands by way of continuation out
of the Cayman Islands and into the State of Delaware, migrating to and domesticating as a Delaware corporation (the “Domestication”)
and (ii) restated our certificate of incorporation (“Restated Certificate of Incorporation”). In connection with the Domestication,
each share of outstanding Class A ordinary shares were converted by operation of law into shares of Common Stock, on a one-for-one basis.
Upon filing of the Restated Certificate of Incorporation, each issued and outstanding share of Class B stock outstanding immediately prior
to the filing of the Restated Certificate of Incorporation was converted into shares of Common Stock on a one-for-one basis. Under the
Restated Certificate of Incorporation, the Company is authorized to issue 551,000,000 shares of capital stock, consisting of
(a) 550,000,000 shares of Common Stock with a par value of $0.000