Company: NOEMW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042720
Chunk: 28

Company: CO2 Energy Transition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 sell an asset or paid to transfer a liability in
an orderly transaction between market participants. Fair value measurements are classified on a three-tier hierarchy as follows:

●Level 1
— defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●Level 2
— defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted
prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active;
and

●Level 3
— defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own
assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers
are unobservable.

The following table presents
information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2025 and December 31,
2024, indicating the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

    Description 
    Level  
    March 31,
 2025  
    December 31, 
2024 
  
    Assets: 

    Investments and cash held in Trust Account 
     1  
    $70,020,977  
    $69,310,897 

NOTE 10. SEGMENT INFORMATION

ASC Topic 280, “Segment
Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products,
services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate
financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”),
or group, in deciding how to allocate resources and assess performance.

20

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

The Company’s CODM
has been identified as Chief Financial Officer, who reviews the operating results for the Company as a whole to make decisions about allocating
resources and assessing financial performance. Accordingly, management has determined that the Company only has one reportable operating
segment.

The CODM assesses performance
for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statements of operations
as net income or loss. The