Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 195

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 195
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es that an impairment charge is required based primarily on the financial condition and near-term prospects of these investments.

Concentration of Risks

Financial instruments that
potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents, and accounts
receivable. Cash balances may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000. The
Company has not experienced any losses in such accounts.

<div align='center'>F-16

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

3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

For the year ended December 31,
2023 one customer accounted for 99.2% of the Company’s revenue. For the year ended December 31, 2022, no customer accounted
for 10% or more of the Company’s revenue. For the year ended December 31, 2023, one supplier accounted for 39.3% of the Company’s
total supplier purchases. For the year ended December 31, 2022, two suppliers accounted for 37.1% and 35.8%, respectively, of the
Company’s total supplier purchases.

As of December 31,
2023, two customers accounted for 36.3% and 23.4% of the Company’s accounts receivable, and no vendor accounted for 10% or more
of the Company’s accounts payable balance. As of December 31, 2022, four customers accounted for 30.5%, 26.8%, 10.6% and 10.6%
of the Company’s accounts receivable, and one vendor accounted for 49.5% of the Company’s accounts payable balance.

Earnings per Share

Basic net loss per share
is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding
during the year. Diluted net loss per share is based upon the diluted weighted-average number of shares outstanding during the year.
Diluted net loss per share gives effect to all potentially dilutive common share equivalents, including stock options, and warrants,
to the extent they are dilutive. Refer to Note 13 - Earnings Per Share.

Warrants

The Company accounts for
warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific