Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 273

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 273
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4 - Reverse Recapitalization, the Company accounted for the Business Combination as a reverse recapitalization. Earnings per share calculations for all periods prior to the Closing have been retrospectively adjusted by the Exchange Ratio for the equivalent number of shares of Common Stock outstanding immediately after the Closing to effect the reverse recapitalization. Subsequent to the Closing, earnings per share is calculated based on the weighted average number of shares of Common Stock outstanding. F-60 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023

16 – INCOME TAXES

Net loss for the years ended December 31, 2024 and 2023, was as follows:

|          |     | December 31, 
 2024         |             |   |     | 2023 |             |   |
|:---------|:----|:-------------|:------------|:--|:----|:-----|:------------|:--|
| Domestic |     | $            | (41,380,390 | ) |     | $    | (9,557,067  | ) |
| Foreign  |     |              | (6,167,378  | ) |     |      | (6,081,522  | ) |
| Net Loss |     | $            | (47,547,768 | ) |     | $    | (15,638,589 | ) |

Provision for income taxes for the years ended December 31, 2024 and 2023, consisted of the following:

|                                  |     | December 31, |   2024 |     |   |   2023 |
|:---------------------------------|:----|:-------------|-------:|:----|:--|-------:|
| Current tax provision            |     | $            |      - |     | $ |      - |
| Federal                          |     |              |        |     |   |        |
| State and local                  |     |              | 15,325 |     |   |  7,141 |
| Foreign                          |     |              |      - |     |   | 67,356 |
| Total current tax provision      |     |              | 15,325 |     |   | 74,497 |
| Deferred tax provision Federal   |     |              |      - |     |   |      - |
| State and local