Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 198

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 198
---
 financial statements as the amendments align with our existing policy.

In November 2023, the
FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which
will add required disclosures of significant expenses for each reportable segment, as well as certain other disclosures to help investors
understand how the chief operating decision maker (“CODM”) evaluates segment expenses and operating results. The new standard
will also allow disclosure of multiple measures of segment profitability if those measures are used to allocate resources and assess
performance. The amendments will be effective for public companies for fiscal years beginning after December 15, 2023, and
interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating
the impact of this accounting standard update on our consolidated financial statements.

In December 2023, the
FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires disaggregated
information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard
is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation
decisions. The standard will be effective for public companies for fiscal years beginning after December 15, 2024. Early adoption
is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statements.

<div align='center'>F-18

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

4 - BALANCE SHEET COMPONENTS

Inventory

Inventory consists of the
following:

|                     |     | As of December 31, |       2023 |   |     |   |      2022 |   |
|:--------------------|:----|:-------------------|-----------:|:--|:----|:--|----------:|:--|
| Inventory           |     | $                  |  7,392,919 |   |     | $ | 7,315,754 |   |
| Inventory allowance |     |                    | (1,145,548 | ) |     |   |  (825,213 | ) |
| Consigned parts     |     |                    |  1,128,250 |   |