Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 44

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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1,189)
  
    Gain on sale of Spanish subsidiaries 
     3,589  
     - 
  
    Net Loss 
    $2,809  
    $(1,415)

    Europe – Discontinued Operations 

    EBITDA 
     -  
    $312 
  
    Depreciation, amortization, and accretion 
     -  
     (677)
  
    Interest expense 
     -  
     (3,278)
  
    Gain on sale of discontinued operations, net asset 
     -  
     2,150 
  
    Net Loss 
    $-  
    $(1,493)

    US 

    EBITDA 
    $(1,029) 
    $(2,827)
  
    Depreciation, amortization, and accretion 
     (130) 
     (49)
  
    Interest expense 
     (1,835) 
     (492)
  
    Fair value movement of FPA Asset 
     -  
     (483)
  
    Gain on extinguishment of debt 
     -  
     179 
  
    Fair value movement of convertible debt 
     (806) 
     - 
  
    Fair value movement of warrant 
     811  
     - 
  
    Net Loss 
    $(2,989) 
    $(3,672)
  
    Consolidated Net Loss 
    $(180) 
    $(6,579)

19. Income Tax Provision

The Company’s provision
for income taxes for interim periods is determined using its effective tax rate expected to be applied for the full year. The Company’s
effective tax rate was 0.0% for the three months ended March 31, 2025, and 0.0%, respectively for the same period in the prior year, as
it maintains a full valuation allowance against its net deferred tax assets.

The Company assesses the realizability
of the deferred tax assets at each reporting date. The Company continues to maintain a full valuation allowance for its net deferred tax
assets. If certain substantial changes in the entity’s ownership occur, there may be an annual limitation on the amount of the carryforwards
that can be utilized. The Company will continue to assess the need for a valuation allowance on its deferred tax assets.

28

20. Related Party

Financial assets and financial
liabilities are recognized when the Company