Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 17

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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B ASC Topic 260, “Earnings Per Share.” The Company has two classes of shares,
which are referred to as redeemable common stock and non-redeemable common stock. Income and losses are shared pro rata between the two
classes of shares. Net income (loss) per common share is calculated by dividing the net income (loss) by the weighted average shares of
common stock outstanding for the respective period.

The calculation of diluted
net income (loss) does not consider the effect of the warrants underlying the Units sold in the Initial Public Offering (including the
consummation of the Over-allotment) and the private placement warrants to purchase an aggregate of 7,165,000 shares of common stock in
the calculation of diluted income (loss) per share, because their exercise is contingent upon future events. As a result, diluted net
income (loss) per share is the same as basic net income (loss) per share for the three and nine months ended September 30, 2025 and 2024.
Accretion associated with the redeemable Class A common stock is excluded from earnings per share as the redemption value approximates
fair value.

12

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

The following table reflects
the calculation of basic and diluted net income (loss) per common stock share:

    For the Three Months Ended September 30, 

    2025  
    2024 

    Redeemable  
    Non-redeemable  
    Redeemable  
    Non-redeemable 
  
    Basic net income (loss) per common stock share 

    Numerator: 

    Allocation of net income (loss) 
    $312,981  
    $121,824  
    $   —  
    $(26,532)
  
    Denominator: 

    Basic weighted average common stock outstanding 
     6,900,000  
     2,685,750  
     —  
     2,000,000 
  
    Basic and diluted net income (loss) per common stock share 
    $0.05  
    $0.05  
    $—  
    $(0.01)

    For the Nine Months Ended September 30,