Company: NOEMW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042720
Chunk: 79

Company: CO2 Energy Transition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 of operations
as net income or loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s
performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

    For the three
 months ended
 March 31,
 2025  
    For the three
 months ended
 March 31,
 2024 
  
    General and administrative expenses 
    $170,720  
     20,398 
  
    Interest earned on the Trust Account 
    $725,763  
     — 

The CODM reviews interest
earned on the Trust Account to measure and monitor stockholders value and determine the most effective strategy of investment with the
Trust Account funds while maintaining compliance with the trust agreement. General and administrative expenses are reviewed and monitored
by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination
period. The CODM also reviews general and administrative costs to manage, maintain and enforce all contractual agreements to ensure costs
are aligned with all agreements and budget. General and administrative costs, as reported on the statements of operations, are the significant
segment expenses provided to the CODM on a regular basis. All other segment items included in net income or loss are reported on the statements
of operations and described within their respective disclosures.

NOTE 11. SUBSEQUENT EVENTS

The Company evaluated subsequent
events and transactions that occurred after the balance sheets date up to the date that the unaudited condensed financial statements were
issued. Based upon this review, other than stated below, the Company did not identify any subsequent events that would have required adjustment
or disclosure in the financial statements. 

On April 15, 2025 the Company
entered into a convertible promissory note dated March 31, 2025 (the “Working Capital Note”) with its Sponsor. Pursuant to
the Working Capital Note, the Company may request, and in the sole discretion of the Sponsor, the Sponsor may loan the Company, drawdowns
of up to an aggregate $1,500,000 in principal from time to time, less $11,731 which was advanced prior to the execution of the Working
Capital Note, and included as outstanding thereunder, with such amounts to be used for working capital.

Amounts owed under the Working
Capital Note do not accrue interest and are payable on the earlier of: (i) the effective