Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2492

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 7A
Chunk 2492
---
iation, amortization, and accretion 
     (194) 
     (57)
  
    Interest expense 
     (4,820) 
     (1,889)
  
    Income taxes 
     (590) 
     (15)
  
    Valuation on FPA asset 
     -  
     (16,642)
  
    Fair value movement of FPA asset 
     (483) 
     - 
  
    Fair value movement of convertible debt 
     67  
     - 
  
    Fair value movement of warrant 
     565  
     - 
  
    Net loss on issuance of debt 
     (520) 
     - 
  
    Gain on extinguishment of debt 
     179  
     - 
  
    Net Loss 
    $(14,250) 
    $(23,163)
  
    Consolidated Net Loss 
    $21,078  
    $(69,464)

One customer represented 100%
of continuing operational revenues during the year ended December 31, 2024 compared to two customers that represented 86% for the year
ended December 31, 2023. The revenues from these customers accounted for $0.3 million and $3.0 million of revenue for the year ended December
31, 2024 and 2023, respectively.

Five customers represented
76% of the discontinued operational revenues during the year ended December 31, 2024 compared to four customers that represented 84% for
the year ended December 31, 2023. The revenues from these customers accounted for $7.7 million and $25.7 million of revenue for the year
ended December 31, 2024 and 2023 respectively.

F-51

    24.
    Income Tax Provision

    Year Ended December 31, 
  
    Major Components of Tax Expense/(Income) 
    2024  
    2023 

    (in thousands) 
  
    Current tax expense 
    $677  
    $15 
  
    Deferred tax expense 
     -  
     - 
  
    Actual income tax expense (benefit) 
    $677  
    $15 

Explanation of the relationship
between tax expense and accounting profit:

    Year Ended December 31,

    2024

    2023

    (in thousands)

    Accounting profit before tax