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

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 and continued cash outflows from operating activities (all as described below), the
Company has concluded that there is substantial doubt about its ability to continue as a going concern for a period of one year from the
date that these Condensed Consolidated Financial Statements were issued.

The accompanying consolidated
financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of
liabilities in the normal course of business. As shown in the accompanying consolidated financial statements during the period ended March
31, 2025, the Company had net loss from continuing operations of approximately ($0.2) million and ($5.1) million for the three months
ended March 31, 2025 and 2024, respectively. The Company had total shareholders’ equity/(deficit) of ($31.4) million as of March
31, 2025 and ($33.9) million as of December 31, 2024. The Company had $0.1 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