Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 295

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 295
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 prices in active markets for identical assets or liabilities that the Company has the ability to access. 
 Valuation adjustments and block discounts are not being applied. Since valuations are based on quoted prices that are readily and   
 regularly available in an active market, valuation of these securities does not entail a significant degree of judgment.            |
| Level 
 2 -   | Valuations based on (i) quoted                                                                                                      
 prices in active markets for similar assets and liabilities, (ii) quoted prices in markets that are not active for identical        
 or similar assets, (iii) inputs other than quoted prices for the assets or liabilities, or (iv) inputs that are derived             
 principally from or corroborated by market through correlation or other means.                                                      |
| Level 
 3 -   | Valuations based on inputs                                                                                                          
 that are unobservable and significant to the overall fair value measurement.                                                        |

The fair value of the Company’s certain assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the consolidated balance sheets. The fair values of cash and cash equivalents, prepaid assets, accounts payable and accrued expenses, and promissory note to related parties are estimated to approximate the carrying values as of December 31, 2023 and 2022 due to the short maturities of such instruments. See Note 7 for additional information on assets and liabilities measured at fair value.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes under FASB ASC 740, “Income Taxes.” ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2023 and 2022, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company is considered to be an Cayman Islands exempted company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cay