Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 5

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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ayment of promissory note - related party 
     —  
     (2,000)
  
    Payment of offering costs 
     —  
     (4,675)
  
    Net cash provided by financing activities 
     —  
     95,625 

    Net Change in Cash 
     (609,570) 
     680 
  
    Cash – Beginning of period 
     953,069  
     2,112 
  
    Cash – End of year 
    $343,499  
    $2,792 

    Non-cash investing and financing
    activities and cash paid for income taxes: 

    Deferred offering costs included in accrued offering costs 
    $—  
    $3,635 
  
    Cash paid for income taxes 
    $64,208  
    $— 

The accompanying notes are an integral part of
the unaudited condensed financial statements.

4

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

NOTE 1. DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND GOING
CONCERN

CO2 Energy Transition Corp.
(the “Company”) was incorporated in Delaware on September 30, 2021. The Company was formed for the purpose of effecting
a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses
(the “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a
Business Combination. While the Company may pursue an initial Business Combination target in any industry or geographic location, the
Company intends to focus its search for a target business in the production, servicing and transportation of Oil, Gas and LNG. The Company
is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and
emerging growth companies.

As of September 30, 2025,
the Company had not commenced any operations. All activity for the period from September 30, 2021 (inception) through September 30,
2025, relates to the Company’s formation, the initial public offering (the “Initial Public Offering”), which is described
below and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the