secwatch.observer — SEC 8-K summary
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Issuer:     Laredo Oil, Inc. (LRDC)
CIK:        0001442492
Form:       8-K
Filed at:   2022-11-29T23:59:59+00:00
Accession:  0001199835-22-000705
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Laredo Oil issues $59K convertible note to JanBella Group, 8% interest, variable conversion
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- Issued convertible promissory note for $59,125 principal (including $5,375 OID) to JanBella Group, LLC.
- Note accrues 8% interest, matures Nov 18, 2023; prepayable within 180 days at 110% or 115%.
- Conversion after 180 days at 75% of avg of 3 lowest closing bid prices in prior 15 trading days.
- Note has 4.99% beneficial ownership cap and requires 4.5x reserved shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1442492/000119983522000705/0001199835-22-000705-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1442492/000119983522000705/laredo_8k-1.htm
  HTML page:      https://secwatch.observer/filing/0001199835-22-000705

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