Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 356

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 356
---
     —  
     2,650,000 

    Fair Value of Public Warrants at issuance 
     —  
     —  
     207,000  
     —  
     207,000 

    Fair value of representative shares deferred until IPO 
     120,750  
     12  
     77,268  
     —  
     77,280 

    Fair value of rights included in Public units 
     —  
     —  
     621,000  
     —  
     621,000 

    Allocated value of transaction costs to common stock 
     —  
     —  
     (68,817) 
     —  
     (68,817)

    Net income 
     —  
     —  
     —  
     2,632  
     2,632 

    Balance – December 31, 2024 
     2,685,750  
    $269  
    $—  
    $(1,264,170) 
    $(1,263,901)

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

F-5

CO2 ENERGY TRANSITION CORP.

STATEMENTS OF CASH FLOWS

    For the Year Ended 
    December 31, 

    2024  
    2023 
  
    Cash Flows from Operating Activities: 

    Net income (loss) 
    $2,632  
    $(184,365)
  
    Adjustments to reconcile net income (loss) to net cash used in operating activities: 

    Payment of operation costs through promissory note 
     11,050  

    Interest earned on Investments held in Trust Account 
     (310,897) 
     — 
  
    Changes in operating assets and liabilities: 

    Prepaid expenses 
     (220,947) 
      — 
  
    Accounts payable and accrued expenses 
     151,534  
     69,653 
  
    Income tax payable 
     61,039  
     — 
  
    Net cash used in operating activities 
     (305,589) 
     (114,712)

    Cash Flows from Investing Activities: 

    Investment of cash in Trust Account