Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 18

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
 

    2025  
    2024 

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

    Numerator: 

    Allocation of net income (loss) 
    $907,042  
    $353,056  
    $     —  
    $(66,985)
  
    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 
    $0.13  
    $0.13  
    $—  
    $(0.03)

Derivative Financial Instruments

The Company accounts for
derivative financial instruments in accordance with ASC 815, “Derivatives and Hedging”. For derivative financial instruments
that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value upon issuance and remeasured
at each reporting date, with changes in the fair value reported in the condensed statements of operations. The classification of derivative
financial instruments is evaluated at the end of each reporting period. There were no derivative financial instruments as of September
30, 2025 and December 31, 2024.

Warrant and Right Instruments

The Company accounted for
the Public Warrants and Private Warrants and Public Rights and Private Rights issued in connection with the Initial Public Offering and
the private placement in accordance with the guidance contained in FASB ASC Topic 815 “Derivatives and Hedging”. Accordingly,
the Company evaluated and classified the warrant and right instruments under equity treatment.

13

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

Common Stock Subject to Possible Redemption

The Public Shares contain
a redemption feature which allows for the redemption of such Public Shares in connection with the Company’s liquidation, or if there
is a stockholder vote or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99,
the Company classifies Public Shares subject to redemption outside of permanent equity as the redemption provisions are not solely within
the control of the Company. The Public