10-Q
Quarterly Report
Laredo Oil, Inc.
CIK: 1442492
File #: 333-153168
Balance Sheet
48 line items · 2 periods
XBRL
| Item | Feb 28, 2026 | May 31, 2025 |
|---|---|---|
ASSETS | ||
Current Assets | ||
Cash and cash equivalents and restricted cash | 264,166 | 249,409 |
Accounts Receivable | 37,500 | — |
Other Non-Operating Current Assets | 50,134 | 21,156 |
Other Non-Operating Current Assets | — | 27,958 |
Total Current Assets | 351,800 | 298,523 |
Property and Equipment | ||
Property, Plant and Equipment | 968,376 | 1,001,209 |
Property, Plant and Equipment | 87,352 | 108,286 |
Total Property and Equipment, net | 1,055,728 | 1,109,495 |
Other Non-Operating Current Assets | 10,000 | 30,000 |
Other Non-Operating Non-Current Assets | — | 10,000 |
TOTAL ASSETS | 1,417,528 | 1,448,018 |
LIABILITIES AND STOCKHOLDERS DEFICIT | ||
Current Liabilities | ||
Accounts Payable | 2,278,471 | 2,027,487 |
Accounts payable – related party | 893,868 | 402,344 |
Other Current Liabilities | 4,123,494 | 3,752,527 |
Other Non-Operating Current Liabilities | 866,824 | 656,460 |
Deferred well development costs | 2,549,260 | 2,799,260 |
Convertible debt contributed for net working interest | 575,000 | 575,000 |
Bridge securities, net of debt discount | — | 352,478 |
Promissory note, net of debt discount | 1,397,300 | 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 | 62,193 | 61,729 |
Other Non-Operating Current Liabilities | — | 130,812 |
Total Current Liabilities | 14,716,504 | 12,909,540 |
Asset Retirement Obligations | 157,394 | 157,394 |
Olfert 11-4 well | 114,896 | 114,896 |
Texakoma wells | 42,498 | 42,498 |
Long-Term Debt | 778,998 | 825,701 |
Liabilities of discontinued operations | — | 127,698 |
Other Non-Operating Non-Current Liabilities | 936,392 | 1,110,793 |
TOTAL LIABILITIES | 15,652,896 | 14,020,333 |
Stockholders Deficit | ||
Total Stockholders' Equity | 7,764 | 7,477 |
Total Stockholders' Equity | 17,045,206 | 13,275,577 |
Subscription paid in advance | 100,000 | 50,000 |
Total Stockholders' Equity | (31,388,338) | (25,905,369) |
Total Stockholders Deficit | (14,235,368) | (12,572,315) |
Common Stock | 7,764 | 7,477 |
Additional Paid-in Capital | 17,045,206 | 13,275,577 |
Common Stock Subscribed | 100,000 | 50,000 |
Retained Earnings | (31,388,338) | (25,905,369) |
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | 1,417,528 | 1,448,018 |