Company: NOEMW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-075048
Chunk: 70

Company: CO2 Energy Transition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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in the carrying value of redeemable shares will result in charges against additional paid-in capital (to the extent available) and accumulated
deficit. Accordingly, at June 30, 2025 and December 31, 2024, common stock subject to possible redemption is presented at redemption value
as temporary equity, outside of the stockholders’ deficit section of the Company’s condensed balance sheets, respectively.
At June 30, 2025 and December 31, 2024, the common stock subject to possible redemption reflected in the condensed balance sheets is reconciled
in the following table:

    Gross proceeds 
    $69,000,000 
  
    Less: 

    Proceeds allocated to Public Warrants 
     (207,000)
  
    Proceeds allocated to Public Rights 
     (621,000)
  
    Common stock issuance costs 
     (3,354,893)
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     4,416,151 
  
    Common stock subject to possible redemption, December 31, 2024 
    $69,233,258 
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     611,303 
  
    Common stock subject to possible redemption, March 31, 2025 
    $69,844,561 
  
    Plus: 

    Remeasurement of carrying value to redemption value 
     487,854 
  
    Common stock subject to possible redemption, June 30, 2025 
    $70,332,415 

Recent Accounting Standards

Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company’s unaudited condensed financial statements.

14

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited) 

NOTE 3. INITIAL PUBLIC OFFERING

In the Initial Public Offering
which closed on November 22, 2024, the Company sold 6,900,000 Units, at a purchase price of $10.00 per Unit, which includes the full exercise
by the underwriters of their over-allotment option in the amount of 900,000 Units. Each Unit consists of one share of common stock, one
right (“Public Right”) and one redeem