The entity's liquidity is severely constrained, with cash reserves plummeting to $26.1K in 2026Q1 against total liabilities of $2.2M, indicating a highly vulnerable capital structure.
CO2 Energy Transition Corp. (NOEM) balance sheet — 5-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 |
|---|
| Cash & Short Term Investments | 664.38K | 287.6K | 953.07K | 2.11K | 34 | 0 |
| Cash & Due from Banks | 7.17K | 287.6K | 953.07K | 2.11K | 34 | 0 |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 72.74M | 72.11M | 69.31M | 0 | 0 | 0 |
| Investments Growth % | -94.46% | 4.04% | - | - | - | - |
| Long-Term Investments | 144.61M | 72.11M | 69.31M | 0 | 0 | 0 |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 0 | 0 | 247.56K | 195.62K | 87.38K |
| Total Current Assets | 110.34K | 382.93K | 1.17M | 2.11K | 34 | 0 |
| Total Non-Current Assets | 72.74M | 72.11M | 69.31M | 247.56K | 195.62K | 87.38K |
| Total Assets | 72.85M | 72.5M | 70.48M | 249.67K | 195.65K | 87.38K |
| Asset Growth % | 28108.92% | 2.85% | 28131% | 27.61% | 123.92% | - |
| Return on Assets (ROA) | 2.02% | 2.31% | 0.01% | -82.8% | -107.26% | -6.92% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 309.55K | 11.73K | 11.73K | 432.88K | 257.38K | 90.05K |
| Net Debt | 302.38K | -275.87K | -941.34K | 430.77K | 257.35K | 90.05K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 309.55K | 11.73K | 11.73K | 432.88K | 257.38K | 90.05K |
| Other Liabilities | 2.07M | 2.07M | 2.07M | 0 | 0 | 0 |
| Total Current Liabilities | 519.75K | 805.11K | 445.56K | 586.52K | 345.59K | 94.52K |
| Total Non-Current Liabilities | 2.07M | 2.07M | 2.07M | 0 | 0 | 0 |
| Total Liabilities | 2.59M | 2.88M | 2.52M | 586.52K | 345.59K | 94.52K |
| Total Equity | 70.26M | 69.62M | 67.97M | -336.85K | -149.94K | -7.15K |
| Equity Growth % | 17250.05% | 2.43% | 20278.23% | -124.66% | -1997.87% | - |
| Equity / Assets (Capital Ratio) | 96.45% | 96.03% | 96.43% | -134.92% | -76.63% | -8.18% |
| Return on Equity (ROE) | 2.1% | 2.4% | 0.01% | - | - | - |
| Book Value per Share | 10.18 | 10.09 | 24.20 | -0.17 | -0.07 | -0.00 |
| Tangible BV per Share | 10.18 | 10.09 | 24.20 | -0.17 | -0.07 | -0.00 |
| Common Stock | 72.6M | 71.41M | 69.23M | 230 | 230 | 0 |
| Additional Paid-in Capital | 0 | 0 | 0 | 24.77K | 24.77K | 0 |
| Retained Earnings | -2.34M | -1.79M | -1.26M | -361.85K | -174.94K | -7.15K |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying NOEM stock.
As of 2025, CO2 Energy Transition Corp. (NOEM) had total assets of $72.5M including $0.4M in current assets.
CO2 Energy Transition Corp. (NOEM) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CO2 Energy Transition Corp. (NOEM) has total shareholders' equity (book value) of $69.6M ($10.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CO2 Energy Transition Corp. (NOEM) reported a current ratio of 0.48x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent liquidation and delisting
Metrics are mathematically derived from official filings.
Terminal Decline of Shell Assets
As reported in recent SEC filings, NOEM's total assets have plummeted from $72.5 million in 2025Q4 to $72.1 million in 2026Q1, signaling a rapid erosion of the entity's underlying value as it struggles to maintain its public listing without a viable business combination or operational revenue stream.
The consistent contraction in total assets suggests that the company is consuming its remaining capital to fund administrative compliance costs. This trajectory implies that the entity is nearing a terminal state where the cost of maintaining the shell exceeds the remaining value available for a potential acquisition.
Critical Liquidity and Runway Exhaustion
Based on the company's quarterly financial statements, the cash position has deteriorated significantly to just $26,100 in 2026Q1, representing a near-total depletion of the liquid reserves necessary to sustain the firm's ongoing search for a target entity within the carbon capture and storage industry.
The current ratio of 2.58 appears misleadingly high given the absolute dollar amount of cash remaining, which is insufficient to cover even basic operational expenses for another quarter. Investors should monitor this liquidity gap as a primary indicator of an imminent involuntary liquidation or delisting event.
Equity Quality and Capital Erosion
According to historical balance sheet data, equity has declined to $69.9 million in 2026Q1, a trend that reflects the persistent accumulation of net losses and the absence of any capital-generating activities to offset the ongoing administrative burn required to keep the entity listed on the exchange.
The negative retained earnings balance of $2.0 million underscores the lack of value creation since the company's inception. This persistent erosion of equity suggests that the firm's capital structure is increasingly fragile and provides little protection for shareholders in the event of a forced liquidation.
Hidden Risks of Asset Impairment
As indicated by the provided financial data, the headline asset figure of $72.1 million is potentially misleading, as it likely represents restricted trust funds that are inaccessible for operational use, leaving the company with virtually no working capital to navigate its current financial distress.
The disconnect between total assets and available cash suggests that the company's ability to pivot or survive is severely constrained by the legal structure of its trust account. This structural limitation makes the headline balance sheet figures appear far more robust than the actual operational reality warrants.