Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 1041

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1041
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 such opinion.

Our audits included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ WithumSmith+Brown, PC

We have served as the Company’s auditor since 2023.

New York, New York

March 28, 2025

PCAOB ID Number 100

F-2

CO2 ENERGY TRANSITION CORP.

BALANCE SHEETS

    December 31, 2024  
    December 31, 2023 

    ASSETS 

    Current assets 

    Cash 
    $953,069  
    $2,112 
  
    Prepaid expenses 
     220,947  
     — 
  
    Total Current Assets 
     1,174,016  
     2,112 

    Deferred offering costs 
     —  
     247,560 
  
    Investments held in Trust Account 
     69,310,897  
     — 
  
    TOTAL ASSETS 
    $70,484,913  
    $249,672 

    LIABILITIES AND STOCKHOLDERS’ DEFICIT 

    Current liabilities 

    Accrued expenses 
    $297,787  
    $146,253 
  
    Accrued offering costs 
     75,000  
     7,384 
  
    Income tax payable 
     61,039  
     — 
  
    Promissory note – related party 
     11,730  
     432,880 
  
    Total Current Liabilities 
     445,556  
     586,517 
  
    Deferred underwriting fee 
     2,070,000  
     — 
  
    TOTAL LIABILITIES 
     2,515,556  
     586,517 

    Commitment and Contingencies (Note 6) 

    Common stock subject to possible redemption, 6,900,000 shares at redemption value of $10.03 per share