Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 128

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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.1 million of unrestricted cash on hand as of March 31, 2025.

Our operating revenues are
insufficient to fund our operations and our assets already are pledged to secure our indebtedness to various third party secured creditors,
respectively. The unavailability of additional financing could require us to delay, scale back, or terminate our acquisition efforts and
other core business activities, which would have a material adverse effect on the Company and its viability and prospects.

The terms of our indebtedness,
including the covenants and the dates on which principal and interest payments on our indebtedness are due, increases the risk that we
will be unable to continue as a going concern. To continue as a going concern over the next twelve months, we must make payments on our
debt as they come due and comply with the covenants in the agreements governing our indebtedness or, if we fail to do so, to (i) negotiate
and obtain waivers of or forbearances with respect to any defaults that occur with respect to our indebtedness, (ii) amend, replace, refinance,
or restructure any or all of the agreements governing our indebtedness, and/or (iii) otherwise secure additional capital. However, we
cannot provide any assurances that we will be successful in accomplishing any of these plans.

On
February 10, 2025, the Company received a determination letter (the “Delisting Notification”) from the Nasdaq Hearings Advisor
stating that the Panel determined to delist the Company’s common stock, par value $0.0001 per share (the “Common Stock”)
from the Nasdaq Capital Market, and Nasdaq accordingly suspended trading in the Company’s Common Stock effective at the opening
of trading on February 12, 2025, because the Company has not demonstrated compliance with the MVLS Rule, nor does it meet any of the alternative
requirements under Nasdaq Listing Rule 5550(b) and has failed to demonstrate that additional time to regain compliance is appropriate.
The Company was additionally in violation of the bid price requirement of Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”),
as disclosed recently on January 31, 2025, which was taken into consideration by the Panel in its Delisting Notification.

A Form 25-NSE was
filed with the Securities and Exchange Commission (“SEC”), which removed the Company’s securities from listing on Nasdaq.
The Company’s Common Stock is currently quoted on the O