Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 233

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 233
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<div align='center'>The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-41

VEEA INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)</div>

| Cash flows from operating activities                                         |     | Nine Months ended 
 September 30,     
 2024              |             |   |     | 2023 |            |   |
|:-----------------------------------------------------------------------------|:----|:------------------|------------:|:--|:----|:-----|-----------:|:--|
| Net loss                                                                     |     | $                 | (46,620,619 | ) |     | $    | (9,409,208 | ) |
| Adjustments to reconcile net loss to net cash used for operating activities: |     |                   |             |   |     |      |            |   |
| Depreciation and amortization                                                |     |                   |     205,111 |   |     |      |    734,306 |   |
| Amortization of debt issuance costs                                          |     |                   |      45,648 |   |     |      |  1,824,270 |   |
| Loss on initial issuance of debt                                             |     |                   |   1,770,933 |   |     |      |          - |   |
| Change in fair value of convertible note option liability                    |     |                   |    (607,067 | ) |     |      |          - |   |
| Change in fair value of warrant liabilities                                  |     |                   |     220,373 |   |     |      |          - |   |
| Earn-out liability initial loss                                              |     |                   |  53,600,000 |   |     |      |            |   |
| Change in fair value of earn out share liabilities                           |     |                   | (24,750,000 | ) |     |      |          - |   |
| Interest income on investment                                                |     |                   |        (768 | ) |     |      |          - |   |
| Stock based compensation                                                     |     |                   |     394,234 |   |     |      |    404,761 |   |
| Interest expense on convertible notes converted                              |     |                   |     868,853 |   |     |      |          - |   |
| Unrealized foreign currency