secwatch.observer — SEC 8-K summary
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Issuer:     Laredo Oil, Inc. (LRDC)
CIK:        0001442492
Form:       8-K
Filed at:   2021-10-06T23:59:59+00:00
Accession:  0001199835-21-000614
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Laredo Oil issues $114K convertible note to Geneva Roth, nets $100K
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- Sold a convertible promissory note with $114,125 principal; net proceeds of $100,000.
- Note bears 8% interest (22% upon default); matures October 1, 2022.
- Conversion price is 75% of the average 3 lowest closing bid prices over 15 days before conversion, after 180 days.
- Prepayment allowed in first 180 days at 110%-115% of principal plus interest; no prepayment thereafter without investor consent.
- Default triggers liquidated damages up to 300% of the note amount; 4.99% ownership cap on conversion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1442492/000119983521000614/0001199835-21-000614-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1442492/000119983521000614/form-8k.htm
  HTML page:      https://secwatch.observer/filing/0001199835-21-000614

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer