10-Q
Quarterly Report
Laredo Oil, Inc.
CIK: 1442492
File #: 333-153168
Balance Sheet
45 line items · 2 periods
XBRL
| Item | Aug 31, 2025 | May 31, 2025 |
|---|---|---|
ASSETS | ||
Current Assets | ||
Cash and cash equivalents and restricted cash | 416,900 | 277,367 |
Accounts Receivable | 28,155 | — |
Other Non-Operating Current Assets | 31,250 | 21,156 |
Total Current Assets | 476,305 | 298,523 |
Property and Equipment | ||
Property, Plant and Equipment | 1,001,209 | 1,001,209 |
Property, Plant and Equipment | 101,106 | 108,286 |
Total Property and Equipment, net | 1,102,315 | 1,109,495 |
Other Non-Operating Current Assets | 20,000 | 40,000 |
TOTAL ASSETS | 1,598,620 | 1,448,018 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
Current Liabilities | ||
Accounts Payable | 2,123,543 | 2,158,299 |
Accounts payable – related party | 325,000 | 402,344 |
Other Current Liabilities | 3,858,439 | 3,752,527 |
Other Non-Operating Current Liabilities | 650,321 | 656,460 |
Deferred well development costs | 2,807,698 | 2,799,260 |
Convertible debt contributed for net working interest | 575,000 | 575,000 |
Bridge securities, net of debt discount | 218,450 | 352,478 |
Promissory note, net of debt discount | 1,251,871 | 181,349 |
Revolving note | 1,060,061 | 1,060,061 |
Note payable – related party | 292,099 | 292,099 |
Note payable – Alleghany, net of debt discount | 617,934 | 617,934 |
Short-Term Debt | 61,884 | 61,729 |
Total Current Liabilities | 13,842,300 | 12,909,540 |
Asset Retirement Obligations | 285,092 | 285,092 |
Olfert 11-4 well | 114,896 | 114,896 |
Reddig 11-21 well | 127,698 | 127,698 |
Texakoma wells | 42,498 | 42,498 |
Long-Term Debt | 810,172 | 825,701 |
Other Non-Operating Non-Current Liabilities | 1,095,264 | 1,110,793 |
TOTAL LIABILITIES | 14,937,564 | 14,020,333 |
Stockholders’ Deficit | ||
Total Stockholders' Equity | 7,489 | 7,477 |
Total Stockholders' Equity | 13,511,010 | 13,275,577 |
Subscription paid in advance | — | 50,000 |
Total Stockholders' Equity | (26,857,443) | (25,905,369) |
Total Stockholders’ Deficit | (13,338,944) | (12,572,315) |
Common Stock | 7,489 | 7,477 |
Additional Paid-in Capital | 13,511,010 | 13,275,577 |
Common Stock Subscribed | — | 50,000 |
Retained Earnings | (26,857,443) | (25,905,369) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | 1,598,620 | 1,448,018 |