Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 4

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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    $(170,282,750) 
    $(661,354) 
    $(11,467,130)
  
    Series A-2 Preferred Stock Issuances, net of transaction costs 
     1,675,502  
     168  
     11,955,239  

     11,955,407 
  
    Conversion of vendor payable to Series A-2 Preferred Stock 
     10,456  
     1  
     78,422  

     78,423 
  
    Stock based compensation for stock options 

     62,670  

     62,670 
  
    Foreign currency translation (loss) 

     365,381  
     365,381 
  
    Net loss 

     (6,018,994) 
        
     (6,018,994)
  
    Balance, March 31, 2024 
     21,321,870  
    $2,133  
    $171,571,341  
    $(176,301,744) 
    $(295,973) 
    $(5,024,243)

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

3

VEEA INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

    Three Months Ended March 31, 

    2025  
    2024 
  
    Cash flows from operating activities 

    Net income (loss) 
    $4,299,052  
    $(6,547,412)
  
    Adjustments to reconcile net income (loss) to net cash used for operating activities: 

    Depreciation and amortization 
     60,116  
     68,916 
  
    Amortization of debt issuance costs 
     740,363  
     - 
  
    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) 
     - 
  
    Common stock issued as compensation for ELOC commitment fee 
     25,000  
     -