Company: VEEAW
Filing Date: 2025-08-12
Form Type: S-1/A
Source: 0001213900-25-074676
Chunk: 244

Company: VEEA INC.
Filing Date: 2025-08-12
Form: S-1/A
Chunk 244
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ET COMPONENTS

Inventory, net

Inventory consists of the following:

|                     |     |   |  December 
       31, 
      2024 |   |     |   |   December 
        31, 
       2023 |   |
|:--------------------|:----|:--|----------:|:--|:----|:--|-----------:|:--|
| Inventory           |     | $ | 7,377,966 |   |     | $ |  7,392,919 |   |
| Inventory allowance |     |   |  (904,653 | ) |     |   | (1,145,548 | ) |
| Consigned parts     |     |   |   985,927 |   |     |   |  1,128,250 |   |
| Total               |     | $ | 7,459,240 |   |     | $ |  7,375,621 |   |

F-42 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023

Prepaid and other current assets

Prepaid and other current assets consists of the following:

|                            |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:---------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Prepaid expenses           |     | $ |      312,239 |     | $ |      177,027 |
| Inventory purchase deposit |     |   |    5,000,000 |     |   |            - |
| Production deposit         |     |   |      336,643 |     |   |      336,643 |
| Other current assets       |     |   |          712 |     |   |            - |
| Total                      |     | $ |    5,649,594 |     | $ |      513,670 |

In January 2024, the Company placed an
inventory order and paid a $ million deposit against the order. The inventory was to be delivered on or before June 30, 2024. The
inventory was not delivered by such date; and as a result, the Company is entitled to a refund of its deposit. The Company was granted
a security interest in