Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1568

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 4
Chunk 1568
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 from the Nasdaq Hearings Advisor stating that the Panel
has determined to delist the Company’s common stock, par value $0.0001 per share (the “Common Stock”) from the Nasdaq
Capital Market, and Nasdaq suspended trading in the Company’s Common Stock 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.

The Company’s Common
Stock is currently quoted on an over-the-counter trading market.

The Company is currently working
on several processes to address the going concern issue. The Company is working with shareholders, investment funds and multiple global
banks and funds to secure necessary project financing to execute our transatlantic business plan.

    3.
    Summary of Significant Accounting Policies

Basis of Presentation

The Company prepares its consolidated
financial statements in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

Basis of Consolidation 

The consolidated financial
statements include the financial statements of the Company and its subsidiaries. All intercompany accounts and transactions have been
eliminated in consolidation. The results of subsidiaries acquired or disposed of during the respective periods are included in the consolidated
financial statements from the effective date of acquisition or up to the effective date of disposal, as appropriate.

Related Party Transactions

A Related Party transaction
is any transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which (i) the
Company or any of its subsidiaries is or will be a participant, and (ii) any Related Party has or will have a direct or indirect interest.
A Related Party is any person who is or was (since the beginning of the last fiscal year even if such person does not presently serve
in that role) an executive officer or director of the Company, any shareholder owning more than 5% of any class of the Company’s
voting securities, or an immediate family member of any such person. Refer to Footnote 25 for more details.

Use of Estimates

The preparation of consolidated