Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 276

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 276
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 following:

|                            |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:---------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Prepaid expenses           |     | $ |      312,239 |     | $ |      177,027 |
| Inventory purchase deposit |     |   |    5,000,000 |     |   |            - |
| Production deposit         |     |   |      336,643 |     |   |      336,643 |
| Other current assets       |     |   |          712 |     |   |            - |
| Total                      |     | $ |    5,649,594 |     | $ |      513,670 |

In January 2024, the Company placed an
inventory order and paid a $5.0 million deposit against the order. The inventory was to be delivered on or before June 30, 2024. The
inventory was not delivered by such date; and as a result, the Company is entitled to a refund of its deposit. The Company was granted
a security interest in the purchased inventory. Upon the return of the Company’s down payment, the order will terminate. As of
December 31, 2024, the deposit has not been returned. The Company expects the return of the deposit before June 30, 2025.

Property and Equipment, net

Property and equipment, net consists of the following:

|                                 |     |   |   December 
        31, 
       2024 |   |     |   |  December 
       31, 
      2023 |   |
|:--------------------------------|:----|:--|-----------:|:--|:----|:--|----------:|:--|
| Furniture and fixtures          |     | $ |    702,122 |   |     | $ |   683,763 |   |
| Computer equipment              |     |   |    327,166 |   |     |   |   300,101 |   |
| Leasehold improvements          |     |   |    390,742 |   |     |   |   390,742 |   |
| Total property and equipment    
 gross                           |     |   |  1,420,030 |   |     |   |