secwatch.observer — SEC 8-K summary
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Issuer:     Laredo Oil, Inc. (LRDC)
CIK:        0001442492
Form:       8-K
Filed at:   2023-12-12T23:59:59+00:00
Accession:  0001199835-23-000604
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Laredo Oil enters SBA payment plan for PPP loan, 180 monthly payments of $5,860.32
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- 180 monthly payments of $5,860.32 each; first payment due December 22, 2023.
- Failure to pay triggers Treasury collection activities on entire remaining balance.
- Nonpayment also subjects company to additional accrued interest and 30%+ collection fees.
- Plan restructures existing PPP loan obligation into direct financial obligation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1442492/000119983523000604/0001199835-23-000604-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1442492/000119983523000604/form_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001199835-23-000604

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