Company: NOEMW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-075048
Chunk: 93

Company: CO2 Energy Transition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 and are measured at fair value. Shares of conditionally redeemable common stock (including common stock that
feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events
not solely within our control) are classified as temporary equity. At all other times, shares of common stock are classified as stockholders’
equity. Our common stock features certain redemption rights that are considered to be outside of our control and subject to the occurrence
of uncertain future events. Accordingly, as of June 30, 2025, 6,900,000 shares of common stock subject to possible redemption are presented
as temporary equity, outside of the stockholders’ equity section of our balance sheet.

29

Net Income Per Common Share

We comply with accounting
and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares, which are
referred to as redeemable common stock and non-redeemable common stock. Income and losses are shared pro rata between the two classes
of shares. Net (loss) income per common share is calculated by dividing the net (loss) income by the weighted average shares of common
stock outstanding for the respective period.

We have not considered the
effect of the warrants sold in the initial public offering and the concurrent private placement to purchase an aggregate of 7,165,000
warrants in the calculation of diluted earnings per share, since their inclusion would be anti-dilutive under the treasury stock method.
As a result, diluted earnings per common share is the same as basic earnings per common share for the period.

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

We are a smaller reporting
company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise required under this Item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures
are controls and other procedures designed to ensure that information required to be disclosed in our reports filed or submitted under
the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms.
Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to
be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to Management, including our Chief
Executive Officer and Chief Financial Officer (together, the “Certifying Officers”),