Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 14

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 can adopt the new or revised standard at the time private
companies adopt the new or revised standard. This may make comparison of the Company’s unaudited condensed financial statements
with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the
extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of unaudited
condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial
statements and the reported amounts of expenses during the reporting period.

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 differ
significantly from those estimates.

Cash and Cash Equivalents

The Company considers all
short-term investments with an original maturity of three months or less when purchased to be cash equivalents. As of September 30, 2025
and December 31, 2024, the Company had $343,499 and $953,069 in cash, respectively, and no cash equivalents.

10

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

Investments in Trust Account

As of September 30, 2025
and December 31, 2024, the assets held in the Trust Account were held in money market funds which are invested primarily in U.S. government
securities. The Company accounts for its investments as trading securities under ASC 320 “Investments—Debt and Equity Securities”,
where securities are presented at fair value on the balance sheets. Gains and losses resulting from the change in fair value of investments
held in the Trust Account are included in interest earned on investments held in the Trust Account in the condensed statements of operations.

Concentration of Credit Risk

Financial instruments that
potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times,
may exceed the Federal Deposit Insurance Corporation coverage limit of $250,