Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 256

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 2
Chunk 256
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 being sold on January 19, 2024, February 21, 2024 and October 3, 2024, respectively.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for
the year ended March 31, 2025 and 2024 were as follows:

    Three Months Ended December 31, 

    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Selling, general and administrative 
    $1,490  
    $3,107  
    $(1,680) 
     (54)%
  
    Total for continuing operations 
    $1,490  
    $3,107  
    $(1,680) 
     (54)%

    Discontinued Operations: 

    Selling, general and administrative 
    $-  
    $640  
    $(640) 
    $(100)%
  
    Total for discontinued operations 
    $-  
    $640  
    $(640) 
    $(100)%
  
    Total for the period 
    $1,490  
    $3,747  
    $(2,320) 
     (62)%

Selling, general and administrative expenses for
continuing operations decreased by $1.7 million for the three months ended March 31, 2025 compared to the same period in 2024. The majority
of this decrease was from a decrease in compensation costs, consulting expenses, accounting and legal costs associated with audit preparation
and Nasdaq listing costs.

Cost of revenues for discontinued operations decreased
by $0.6 million for the three months ended March 31, 2025 compared to the same period in 2024 due to Solis being sold on October 3, 2024.

41

Acquisition Costs:

On December 11, 2024, BESS LLC, a Delaware limited
liability company and wholly owned subsidiary of the Company entered into an asset purchase agreement (the “APA”) with LiiON
LLC (“LiiON”), a U.S.-based expert in advanced energy storage solutions, and closed on the acquisition of certain assets related
to LiiON’s Battery Storage Business. The assets purchased included customer relationships, customer service agreements and intellectual
property (IP). The Company determined that the set of assets and activities acquired in connection with the APA and related