Company: NOEMW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-075048
Chunk: 115

Company: CO2 Energy Transition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 2
Chunk 115
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. We do not expect to generate
any operating revenues until after the completion of our Business Combination. We generate non-operating income in the form of interest
income on marketable securities held in the Trust Account. We incur expenses as a result of being a public company (for legal, financial
reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended
June 30, 2025, we had net income of $418,891, which consists of interest income on investments held in the trust account of $729,611,
offset by operating costs of $162,313, provision for income taxes of $146,750, and interest expense of $1,657.

For the three months ended
June 30, 2024, we had a net loss of $20,055, which consisted solely of general and administrative expenses.

27

For the six months ended
June 30, 2025, we had net income of $825,293, which consists of interest income on investments held in the trust account of $1,455,374,
offset by operating costs of $333,033, provision for income taxes of $292,766, and interest expense of $4,282.

For the three months ended
June 30, 2024, we had a net loss of $40,453, which consisted solely of general and administrative expenses.

Critical Accounting Estimates

The preparation of unaudited
condensed financial statements and related disclosures in conformity with accounting principles generally accepted in the United States
of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure
of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Making
estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of
a condition, situation or set of circumstances that existed at the date of the unaudited condensed financial statements, which management
considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual
results could materially differ from those estimates. As of June 30, 2025, we did not have any critical accounting estimates to be disclosed.

Recent Accounting Standards

We do not believe that any
recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on our unaudited condensed
financial statements