Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 116

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 116
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, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is
deemed to be unenforceable against a third party, our sponsor will not be responsible to the extent of any liability for such third-party claims.
We have not independently verified whether our sponsor has sufficient funds to satisfy their indemnity obligations and believe that our
sponsor’s only assets are securities of our company and, therefore, our sponsor may not be able to satisfy those obligations. We
have not asked our sponsor to reserve for such obligations.

Employees

We currently have four officers,
Mr. Brady Rodgers, Mr. Harold R. DeMoss III, Mr. Mike Lessard, and Mr. Mark Mathews, and do not intend to have any full-time employees
prior to the completion of our initial business combination. Members of our management team are not obligated to devote any specific number
of hours to our matters but they intend to devote as much of their time as they deem necessary to our affairs until we have completed
our initial business combination. The amount of time that any such person will devote in any time period will vary based on whether a
target business has been selected for our initial business combination and the current stage of the business combination process.

Effecting Our Initial Business Combination

We are not presently engaged
in, and we will not engage in, any operations until the consummation of our initial business combination. We intend to effectuate our
initial business combination using cash from the proceeds of our IPO and the sale of the placement units, the proceeds of the sale of
our shares in connection with our initial business combination (pursuant to backstop agreements we may enter into in the future), shares
issued to the owners of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing.
We may seek to complete our initial business combination with a company or business that may be financially unstable or in its early stages
of development or growth, which would subject us to the numerous risks inherent in such companies and businesses.

If our initial business combination
is paid for using equity or debt securities, or not all of the funds released from the trust account are used for payment of the consideration
in connection with our initial business combination or used for redemptions of our common stock, we may apply the balance of the cash
released to us from the trust account for general corporate purposes, including for maintenance or expansion of operations of the post-transaction
company