Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 526

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 526
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 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 RISK

Pursuant to Item 305(e)
of Regulation S-K (§ 229.305(e)), the Company is not required to provide the information required by this Item as it is a “smaller
reporting company,” as defined by Rule 229.10(f)(1).

66

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA

CO2 ENERGY TRANSITION CORP.

TABLE OF CONTENTS TO FINANCIAL STATEMENTS

    Page
  
    Index to Financial Statements

    Report of
    Independent Registered Public Accounting Firm (PCAOB ID #100)
    F-2
  
    Balance Sheets
    F-3
  
    Statements of Operations
    F-4
  
    Statements of Stockholders’ Deficit
    F-5
  
    Statements of Cash Flows
    F-6
  
    Notes