Company: VEEAW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001213900-25-046124
Chunk: 141

Company: VEEA INC.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 2
Chunk 141
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31, 2024 
  
    ADJUSTED EBITDA: 

    Net income (loss) 
    $4,299,052  
    $(6,547,412)
  
    Adjustments: 

    Interest expense 
     946,484  
     456,768 
  
    Depreciation and amortization 
     60,116  
     68,916 
  
    EBITDA 
     5,305,651  
     (6,021,728)
  
    Change in fair value of conversion note option liability 
     (59,000) 
     - 
  
    Change in fair value of warrant liabilities 
     (420,497) 
     - 
  
    Change in fair value of Earn Out Shares Liability 
     (10,530,000) 
     - 
  
    Share-based compensation 
     50,000  
     62,670 
  
    Transaction costs 
     35,000  
     - 
  
    ADJUSTED EBITDA 
    $(5,618,846) 
    $(5,959,058)

Item 3. Quantitative and Qualitative Disclosures
about Market Risk

Not Applicable. As a smaller
reporting company, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management, with the
participation and supervision of our Chief Executive Officer and our Chief Operating Officer and Interim Chief Financial Officer, have
evaluated our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act as of the end of
the period covered by this Quarterly Report on Form 10-Q. Based on that evaluation, our Chief Executive Officer and our Chief Operating
Officer and Interim Chief Financial Officer have concluded that, as of the end of the period covered by this Quarterly Report on Form
10-Q, our disclosure controls and procedures were effective to provide reasonable assurance that information we are required to disclose
in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified
in SEC rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer
and Chief Operating Officer and Interim Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure