Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 17

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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and activities acquired in connection with the APA and related agreements constitute a business subject to the guidance in ASC 805
Business Combinations.

The total acquisition date fair value of consideration transferred
(i.e., the “purchase price”) of $1,824,500 was attributed to the following net assets (in thousands):

    Net assets acquired (at fair values): 
             
    Useful Life
  
    ●
    Exclusive Consulting Agreement 
    $1,396  
    3 yrs
  
    ●
    Intellectual Property (IP) 
    $187  
    3yrs
  
    Total identifiable assets 
    $1,583  

    ●
    Goodwill 
    $241  
    Indefinite
  
    Total identifiable intangibles and goodwill 
    $1,824  

The goodwill recognized arises primarily from the fair value of an
assembled workforce in the form of an exclusive consulting arrangement for three key employees. This goodwill has been allocated to the
Company’s United States Operations segment.

The LiiON Battery Storage Business did not have a material effect on
the Company’s operations for the three month period ending March 31, 2025.

6. Prepaid Expenses and Other Current Assets

Prepaid and other current
expenses generally consist of amounts paid to vendors for services that have not yet been performed. Other receivable consist of the following
(in thousands):

    March 31,  
    December 31, 

    2025  
    2024 

    (in thousands) 
  
    Prepaid expenses and other current assets 
    $131  
    $131 
  
    Other receivable 
     2  
     - 
  
    Total 
    $133  
    $131 

7. Capitalized development cost and other long-term assets

Capitalized development costs
are amounts paid to vendors that are related to the purchase and construction of solar energy facilities. Long-term prepaid expenses and
other receivables consist of amounts owed to the Company as well as amounts paid to vendors for services that have yet to be received
by the Company. Capitalized development costs and other long-term assets consisted of the following:

    March 31,  
    December 31, 

    2025  
    2024 

    (in thousands) 
  
    Capitalized development cost 
    $2,940  
    $4,775 
  
    Long-term prepaid expenses