Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 1045

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1045
---
     — 
  
    Proceeds from promissory note - related party 
     129,800  
     175,500 
  
    Repayment of promissory note - related party 
     (562,000) 
      — 
  
    Distributions to Sponsor 
      —  
     (2,545)
  
    Payment of offering costs 
     (443,754) 
     (56,165)
  
    Net cash provided by financing activities 
     70,256,546  
     116,790 

    Net Change in Cash 
     950,957  
     2,078 
  
    Cash – Beginning of year 
     2,112  
     34 
  
    Cash – End of year 
    $953,069  
    $2,112 

    Non-Cash investing and financing activities: 

    Offering costs included in accrued offering costs 
    $75,000  
    $7,384 
  
    Deferred offering costs paid through promissory note - related
    party 
    $
 —   
    $175,500 
  
    Deferred underwriting fee payable 
    $2,070,000  
    $
                                            —  

The accompanying notes are an integral part
of the financial statements.

F-6

CO2 ENERGY TRANSITION
CORP.

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2024

NOTE 1. DESCRIPTION OF ORGANIZATION AND
BUSINESS OPERATIONS

CO2 Energy Transition Corp.
(the “Company”) was incorporated in Delaware on September 30, 2021. The Company was formed for the purpose of effecting
a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more
businesses (the “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating
a Business Combination. While the Company may pursue an initial business combination target in any industry or geographic location, the
Company intends to focus its search for a target business in the production,
servicing and transportation of Oil, Gas and LNG. The Company is an early stage and emerging growth company and, as such, the
Company is subject to all of the risks associated with early stage and emerging growth companies.

As of December 31, 2024,
the Company had not commenced any operations.