Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 36

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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,000,000. Simultaneously with the closing of
the Initial Public Offering, we consummated the sale of 265,000 private placement units at a price of $10.00 per private placement unit
in a private placement to the sponsor, generating gross proceeds of $2,650,000.

Following the Initial Public
Offering, a total of $69,000,000 was placed in the trust account. We incurred $3,423,710 of expenses associated with the Initial Public
Offering, consisting of $517,500 of cash underwriting discount, $2,070,000 of deferred underwriting fees, $77,280 fair value of the Representative
Shares, and $758,930 of other offering costs.

For the nine months ended
September 30, 2025, cash used in operating activities was $689,461. Net income of $1,260,098 was impacted by interest earned on marketable
securities held in the trust account of $2,193,869, and changes in operating assets and liabilities provided $244,309 of cash.

For the nine months ended
September 30, 2024, cash used in operating activities was $94,945. Net loss of $66,985 was impacted by operating expenses paid on behalf
of the Company of $6,050, and changes in operating assets and liabilities used $34,010 of cash.

For the nine months ended
September 30, 2025, cash provided by investing activities was $79,891, representing cash interest withdrawn from the Trust Account to
pay taxes.

For the nine months ended
September 30, 2024, no cash was used in investing activities.

For the nine months ended
September 30, 2025, no cash was used in financing activities.

For the nine months ended
September 30, 2024, cash provided by financing activities was $95,625, consisting of proceeds from our promissory note with our sponsor
of $102,300, repayment of promissory note-related party of $2,000, and payments of offering costs of $4,675.

As of September 30, 2025,
we had investments of $71,424,875 held in the trust account. Through September 30, 2025 and December 31, 2024, we have not withdrawn any
principal from the trust account, nor any interest earned, except to pay taxes.

We intend to use substantially