LRDC Laredo Oil, Inc.

CIK 0001442492 22 ready 8-Ks latest June 17, 2025, 7:59 PM ET RSS · JSON

Ready 8-Ks 22

Latest filing June 17, 2025, 7:59 PM ET

Top materiality 0.75

Event mix other_material ×12 · debt ×8 · regulatory ×1

Sentiment 2 pos · 6 neg · 14 neu

Recent 8-K filings for LRDC

Highest-materiality recent filing

Laredo Oil's auditor BF Borgers suspended by SEC; company seeking replacement auditor

May 9, 2024, 7:59 PM ET regulatory materiality 0.75 negative item 4.01 item 9.01

SEC instituted settled proceedings against BF Borgers CPA PC on May 3, 2024, leading to Borgers' suspension from practice before the SEC.
Borgers was the independent auditor for Laredo Oil's FY 2023 financial statements (ended May 31, 2023).

Read filing →

June 17, 2025, 7:59 PM ET debt materiality 0.55 neutral item 1.01 item 9.01

Laredo Oil enters $1.5M note & warrant purchase agreement with accredited investors

Total principal amount of notes up to $1.5M; initial $825K sold at May 20 closing.
June 17, 2024, 7:59 PM ET other material materiality 0.70 negative item 4.01

Laredo Oil replaces auditor BF Borgers (suspended by SEC) with M&K CPAS

Replaced BF Borgers CPA PC, suspended by SEC on May 9, 2024, with M&K CPAS, PLLC.
May 9, 2024, 7:59 PM ET regulatory materiality 0.75 negative item 4.01 item 9.01

Laredo Oil's auditor BF Borgers suspended by SEC; company seeking replacement auditor

SEC instituted settled proceedings against BF Borgers CPA PC on May 3, 2024, leading to Borgers' suspension from practice before the SEC.
March 12, 2024, 7:59 PM ET litigation materiality 0.50 neutral item 1.01

Laredo Oil subsidiary settles Valley County, MT mineral rights dispute via confidential agreement

Lustre Oil (wholly owned subsidiary) entered settlement with Erewhon Oil & Gas and A&S Mineral Development.
January 25, 2024, 6:59 PM ET other material materiality 0.50 neutral item 1.01 item 9.01 ◈ Material Agreements

Laredo Oil subsidiary raises $2.034M from investors for Montana drilling and lease acquisition

Hell Creek Crude receives $2,034,000 from accredited investors to fund a development well and acquire oil and gas leases in Midfork Field, Montana.
December 21, 2023, 6:59 PM ET other material materiality 0.40 neutral item 8.01

Laredo Oil subsidiary receives $1.6M; plans $2.0M Participation Agreement for well drilling

Hell Creek Crude received $1,617,850 from accredited investors pending a Participation Agreement.
December 12, 2023, 6:59 PM ET debt materiality 0.60 negative item 1.01 item 2.03 ◈ Debt Financings◈ Material Agreements

Laredo Oil enters SBA payment plan for PPP loan, 180 monthly payments of $5,860.32

180 monthly payments of $5,860.32 each; first payment due December 22, 2023.
July 24, 2023, 7:59 PM ET other material materiality 0.50 positive item 1.01 item 9.01 ◈ Material Agreements

Laredo Oil subsidiary enters $350K exploration deal with Texakoma for Montana oil prospect; retains 30,556 net acres

Texakoma pays $350,000 for 85% WI; LOC (Lustre/Erehwon) retains 15% carried interest through tanks in first two test wells.
June 20, 2023, 7:59 PM ET other material materiality 0.40 neutral item 1.01 item 9.01 ◈ Material Agreements

Laredo Oil sells 6.06M shares to Robert Adamo for $267k in private placement

Robert Adamo purchased 6,062,886 shares at $0.0441/share, total proceeds $267,319.
June 2, 2023, 7:59 PM ET debt materiality 0.35 neutral item 1.01 item 2.03 item 9.01 ◈ Debt Financings◈ Material Agreements

Laredo Oil amends note purchase agreement; raises interest rate to 12%, extends maturity to Sept 2025

Amended NPA increases annual interest rate from 10% to 12% on outstanding principal.
May 30, 2023, 7:59 PM ET other material materiality 0.65 neutral item 2.01 item 5.03 item 9.01 ◈ Governance Changes◈ M&A Transactions

Laredo Oil increases authorized shares to 120M, transfers vehicles to CEO for $97,760 in compensation

Authorized common shares increased from 90M to 120M via Certificate of Amendment effective May 23, 2023.
December 19, 2022, 6:59 PM ET other material materiality 0.40 neutral item 4.01 ◈ Auditor Changes ×2

Laredo Oil replaces auditor Weaver and Tidwell with BF Borgers CPA PC

Weaver and Tidwell resigned as auditor on Nov 29, 2022; engagement of BF Borgers CPA PC effective Dec 19, 2022.
November 29, 2022, 6:59 PM ET debt materiality 0.25 neutral item 1.01 item 2.03 item 9.01 ◈ Material Agreements

Laredo Oil issues $59K convertible note to JanBella Group, 8% interest, variable conversion

Issued convertible promissory note for $59,125 principal (including $5,375 OID) to JanBella Group, LLC.
November 29, 2022, 6:59 PM ET other material materiality 0.50 negative item 4.01 item 9.01 ◈ Auditor Changes

Laredo Oil's auditor Weaver and Tidwell resigns; going concern doubt noted in prior financials

Weaver and Tidwell resigned as Laredo Oil's auditor on Nov 21, 2022; resignation accepted Nov 29.
October 28, 2022, 7:59 PM ET other material materiality 0.60 negative item 1.01 item 9.01 ◈ Material Agreements

Laredo Oil borrows $150K from CFO, secured by subsidiary interests

CFO Bradley E. Sparks lends company $150,000 via demand promissory note at 10% interest.
September 27, 2022, 7:59 PM ET debt materiality 0.50 neutral item 1.01 item 2.03 item 9.01

Laredo Oil enters $7.5M secured note purchase agreement; initial $50K note issued

Note Purchase Agreement dated Sept 23, 2022 for aggregate principal up to $7,500,000.
July 25, 2022, 7:59 PM ET other material materiality 0.40 neutral item 1.01 item 9.01

Laredo Oil retains Dawson James as financial advisor; $30k/quarter cash + 2.6M shares as compensation

Engagement term is 12 months; either party may terminate after 60 days with 30 days written notice.
July 5, 2022, 7:59 PM ET debt materiality 0.55 negative item 1.01 item 2.03 item 9.01

Laredo Oil secures $750k loan at 15% with revenue royalty, secured by Cat Creek interest

Principal $750,000 from Cali Fields LLC at 15% annual interest; due Dec 31, 2023.
June 24, 2022, 7:59 PM ET other material materiality 0.35 neutral item 1.01 item 9.01

Laredo Oil assigns rights to purchase 356,243 Olfert units to CFO Bradley Sparks

Assigns to CFO Bradley E. Sparks rights to purchase 356,243 of 500,000 membership units of Olfert No. 11-4 Holdings.
June 3, 2022, 7:59 PM ET debt materiality 0.65 neutral item 1.01 item 2.03 item 3.03 item 9.01

Laredo Oil enters up to $1.5M revolving credit facility with AEI Management at 8.75% interest

Maximum draw $1.5M; advances limited to $150k per 30-day period.
November 15, 2021, 6:59 PM ET other material materiality 0.65 positive item 7.01 item 9.01

Laredo Oil receives reserve report estimating $41M PV-10 for Lustre Oil Field

Independent report estimates $41M cumulative cash flow (discounted at 10%) for certain Montana properties, effective Nov 1, 2021.
October 6, 2021, 7:59 PM ET debt materiality 0.50 neutral item 1.01 item 2.03 item 3.02 item 9.01

Laredo Oil issues $114K convertible note to Geneva Roth, nets $100K

Sold a convertible promissory note with $114,125 principal; net proceeds of $100,000.

Materiality & sentiment trend

Max materiality 0.75 · Median 0.50 · Most common event other_material

2 positive 6 negative 14 neutral

source · LRDC on sec.gov