Company: NOEMW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042720
Chunk: 68

Company: CO2 Energy Transition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 68
---
U require disclosures, on an annual and interim basis, of significant segment expenses that are regularly
provided to the chief operating officer decision maker (“CODM”), as well as the aggregate amount of other segment items included
in the reported measure of segment profit or loss. The ASU requires that a public entity disclose the title and position of
the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and
deciding how to allocate resources. Public entities will be required to provide all annual disclosures currently required by Topic 280 in
interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments
in this ASU and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after
December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. 

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

MARCH 31, 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 redeemable warrant (“Public Warrant”). Each Public Right entitles the holder thereof
to receive one-eighth (1/8) of one share of common stock upon the consummation of a Business Combination (see Note 7). Each Public Warrant
entitles the holder to purchase one share of common stock at an exercise price of $11.50 per share (see Note 7).

NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing
of the Initial Public Offering, the Sponsor purchased an aggregate of 265,000 Private Units at a price of $10.00 per Private Unit, for
an aggregate purchase