Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 351

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 351
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 Board (PCAOB) regarding mandatory audit rotation or a supplement
to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion and analysis),
and (iv) disclosure certain executive compensation related items such as the correlation between executive compensation and performance
and comparisons of the CEO’s compensation to median employee compensation. These exemptions will apply for a period of five years
following the completion of our IPO or until we are  longer an “emerging growth company,” whichever is earlier.

Common Stock Subject to Possible Redemption

We account for our common
stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”)
Topic 480 “Distinguishing Liabilities from Equity.” Shares of common stock subject to mandatory redemption (if any)
are classified as liability instruments 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 December 31, 2024, 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.

Net Loss Per Common Share

We comply with accounting
and disclosure requirements of ASC Topic 260, “Earnings Per Share.” Net loss per common share is computed by dividing
net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding for the 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 6,900,000 warrants to 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.

Net loss per share of common
stock is computed by dividing net loss by the weighted average number of common shares outstanding during the period. We apply the two-class
method in calculating loss per share.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET