Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002716
Chunk: 238

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 238
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                 |  12,598,000 |   |     | $    |  9,069,516 |   |
| Conversion of interest on replated notes to Common Stock                     |     | $                 |   3,141,846 |   |     | $    |  1,879,686 |   |
| Legacy Warrants issued with term note payable                                |     | $                 |           - |   |     | $    |  1,682,750 |   |
| Issuance of Common Stock related to convertible note payable                 |     | $                 |  24,000,000 |   |     | $    |          - |   |
| Conversion of vendor payable to Common Stock                                 |     | $                 |   3,422,028 |   |     | $    |          - |   |
| Supplemental cash flow information                                           |     |                   |             |   |     |      |            |   |
| Interest paid                                                                |     | $                 |     504,431 |   |     | $    |    353,025 |   |

<div align='center'>The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-42

Veea Inc. and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

For the Three and Nine Months Ended September 30, 2024 and 2023</div>

1 - DESCRIPTION OF BUSINESS

The Company is a provider of edge computing and communications devices (i.e., “VeeaHub®” devices), applications and services hosted on its edge Platform-as-a-Service (“ePaaS”). Veea Edge Platform ePaaS is an end-to-end platform that is both locally- and cloud-managed. VeeaHub® products are converged computing and communications (i.e., hyperconverged) indoor and outdoor devices, about the size of a Wi-Fi Access Point (AP), that provide for networking and computing solutions for AI-assisted applications and solutions at the edge where people, places, and things connect to the network.

Veea Edge PlatformÔ provides for highly secure connectivity, computing, and IoT solutions through full stack platform for digital transformation of industries as well as unserved or underserved communities that lack Internet connectivity and essential applications and services. It further enables the formation of highly secure, but easily accessible, private clouds and networks across one or multiple user(s) or enterprise location(s) across the