10-K
Annual Report
Laredo Oil, Inc.
CIK: 1442492
File #: 333-153168
Balance Sheet
46 line items · 2 periods
XBRL
| Item | May 31, 2025 | May 31, 2024 |
|---|---|---|
ASSETS | ||
Current Assets | ||
Cash and cash equivalents and restricted cash | 277,367 | 1,990,189 |
Accounts Receivable | — | 8,346 |
Other Non-Operating Current Assets | 21,156 | 19,941 |
Total Current Assets | 298,523 | 2,018,476 |
Property and Equipment | ||
Property, Plant and Equipment | 1,001,209 | 610,663 |
Property, Plant and Equipment | 108,286 | 135,499 |
Total Property and Equipment, net | 1,109,495 | 746,162 |
Other Non-Operating Current Assets | 40,000 | 40,000 |
TOTAL ASSETS | 1,448,018 | 2,804,638 |
LIABILITIES AND STOCKHOLDERS DEFICIT | ||
Current Liabilities | ||
Accounts Payable | 2,158,299 | 2,302,971 |
Accounts payable – related party | 402,344 | 240,005 |
Other Current Liabilities | 3,752,527 | 3,165,142 |
Other Non-Operating Current Liabilities | 656,460 | 360,848 |
Deferred well development costs | 2,799,260 | 4,551,577 |
Convertible debt contributed for net working interest | 575,000 | — |
Short-Term Debt | — | 107,300 |
Bridge securities, net of debt discount | 352,478 | 181,322 |
Promissory note, net of debt discount | 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 | 61,729 | 66,379 |
Total Current Liabilities | 12,909,540 | 12,945,638 |
Asset Retirement Obligations | 285,092 | 157,394 |
Olfert 11-4 well | 114,896 | 114,896 |
Reddig 11-21 well | 127,698 | — |
Texakoma wells | 42,498 | 42,498 |
Long-Term Debt | 825,701 | 887,733 |
Other Non-Operating Non-Current Liabilities | 1,110,793 | 1,045,127 |
TOTAL LIABILITIES | 14,020,333 | 13,990,765 |
Stockholders Deficit | ||
Total Stockholders' Equity | 7,477 | 7,199 |
Total Stockholders' Equity | 13,275,577 | 11,530,169 |
Subscription paid in advance | 50,000 | — |
Total Stockholders' Equity | (25,905,369) | (22,723,495) |
Total Stockholders Deficit | (12,572,315) | (11,186,127) |
Common Stock | 7,477 | 7,199 |
Additional Paid-in Capital | 13,275,577 | 11,530,169 |
Subscription Paid In Advance | 50,000 | — |
Retained Earnings | (25,905,369) | (22,723,495) |
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | 1,448,018 | 2,804,638 |