Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 444

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 444
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 restricted common stock with a fair value of $287,500.

The Company determined that the set of assets
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   3 yrs             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 period from December 11, 2024 (i.e., the acquisition date) through December
31, 2024.

The following unaudited pro forma information
presents the combined results of operations as if the acquisition had occurred on January 1, 2023 (in thousands):

    Year-ended December 31,  2024  
    Year-ended December 31,  2023 

    Revenue 
    $317  
    $3,731 

    Net Income 
    $20,236  
    $(70,500)

F-26

    6.
    Accounts Receivable 

Accounts receivable relate
to amounts due from customers for services that have been performed and invoices that have been sent. Unbilled energy incentives relate
to Green Certificates from Romania that have been received for energy generated and delivered but not yet sold. This amount is offset
against deferred income. On October 3, 2024, the Company sold its Romanian subsidiaries, reporting the unbilled energy incentives balance
for the year ended December 31, 2023 as discontinued operations. See Footnote 19 for additional information. Accounts receivable consist
of the following:

    Year