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LRDC on OTC

Laredo Oil, Inc.

Laredo Oil, Inc. is an American crude petroleum and natural gas company based in Austin.1 Its shares trade on OTC under the symbol LRDC.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$3.1KRevenue, fiscal 20262
-$8.0MNet income, fiscal 20262

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  • TickerLRDC on OTC1
  • IndustryCrude Petroleum & Natural Gas1
  • HeadquartersAustin, Texas1
  • Incorporated inDE3
  • Business address2021 Guadalupe Street,, Ste. 260, Austin, Tx 787053
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

100.0%Gross margin2
-224337.2%Operating margin2
-253794.0%Net margin2
-66.7%Revenue growth, 20262

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Selling, general and admin85¢$4.9M
  • Interest15¢$888.9K

Out of $3.1K in revenue.2 The company lost money this year.

Financial statements

Revenue4567892$3.1K in 2026−100% since 2019
0$2.5M$5.0M$7.5M$10.0M2019: $8.5M$8.5M20192020: $8.1M$8.1M2020−4%2021: $4.6M$4.6M2021−44%2022: $667.6K$667.6K2022−85%2023: $0$020232024: $36.5K$36.5K20242025: $9.4K$9.4K2025−74%2026: $3.1K$3.1K2026−67%
Gross profit456792$3.1K in 2026−98% since 2019
-$750.0K-$500.0K-$250.0K0$250.0K2019: $196.0K$196.0K20192020: $176.2K$176.2K2020−10%2021: -$183.3K-$183.3K20212022: -$618.6K-$618.6K2022+237%2024: $36.5K$36.5K20242025: $9.4K$9.4K2025−74%2026: $3.1K$3.1K2026−67%
Operating income4567892-$7.0M in 2026+6162% since 2019
-$8.0M-$6.0M-$4.0M-$2.0M02019: -$112.5K-$112.5K20192020: -$130.9K-$130.9K2020+16%2021: -$682.7K-$682.7K2021+422%2022: -$2.2M-$2.2M2022+222%2023: -$7.1M-$7.1M2023+224%2024: -$3.4M-$3.4M2024−52%2025: -$2.6M-$2.6M2025−24%2026: -$7.0M-$7.0M2026+172%
Net income4567892-$8.0M in 2026+5355% since 2019
-$8.0M-$6.0M-$4.0M-$2.0M02019: -$146.1K-$146.1K20192020: -$166.9K-$166.9K2020+14%2021: -$368.2K-$368.2K2021+121%2022: -$895.8K-$895.8K2022+143%2023: -$7.9M-$7.9M2023+781%2024: -$2.9M-$2.9M2024−64%2025: -$3.2M-$3.2M2025+11%2026: -$8.0M-$8.0M2026+151%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2026-05-312025-05-31
Revenue$3.1K$9.4K
Gross profit (loss)$3.1K$9.4K
Lease Operating Expense$38.0K$138.9K
General, selling and administrative expenses$4.9M$1.8M
Consulting and professional services$1.7M$603.7K
Impairment expense$348.4K$21.7K
Total Operating Expense$7.0M$2.6M
Operating loss-$7.0M-$2.6M
Other non-operating income$16.0K$628.7K
Interest expense, net-$888.9K-$489.9K
Net loss from continuing operations-$7.9M-$2.4M
Net loss from discontinued operations$52.3K$733.3K
Net loss-$8.0M-$3.2M
Net loss per share from continuing operations, basic and diluted-$0-$0
Income (Loss) from Continuing Operations, Per Diluted Share-$0-$0
Net loss per share from discontinued operations, basic and diluted$0-$0
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share$0-$0
Net loss per share, basic and diluted-$0.10-$0.04
Earnings Per Share, Diluted-$0.10-$0.04
Weighted average number of basic and diluted common shares outstanding77.1M shares73.6M shares
Weighted Average Number of Shares Outstanding, Diluted77.1M shares73.6M shares

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What it owns

What Laredo Oil, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$193.5K2 May 31, 2026$193.8K2 May 31, 2025−0.2%
Accumulated depreciation$126.3K2 May 31, 2026$85.5K2 May 31, 2025+47.7%
Property and equipment, net$67.2K2 May 31, 2026$1.1M2 May 31, 2025−93.9%
Oil and gas properties$1.0M2 May 31, 2025$610.7K9 May 31, 2024+64.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$420.7K2 May 31, 2026$63.3K2 May 31, 2025+564.6%

Properties, in its own words

We currently have limited mineral leases and related mineral interests remaining in Montana. We are the operator of the Olfert 11-4 well located in the Lustre field. The Reddig 11-21 well and related interests were disposed of in connection with the Hell Creek Crude, LLC transaction and are no longer operated by the Company. The Olfert 11-4 well is currently shut in and is not producing.

Item 2 of the 10-K filed Sep 14, 2026.13

Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorBradley E. Sparks named Nov 30, 202114
  • Executive Officer, DirectorMark See named Nov 30, 202114
  • DirectorDonald E. Beckham named Nov 30, 202114
  • DirectorMichael E. Price named Nov 30, 202114

Former names

  • Laredo Mining, Inc.Aug 25, 2008 to Oct 22, 20093

Timeline

  1. Jun 17, 20258-K Entered a material agreement15
  2. Jun 17, 20248-K Change of auditor16
  3. May 9, 20248-K Change of auditor17
  4. Mar 12, 20248-K Entered a material agreement18
  5. Jan 25, 20248-K Entered a material agreement19
  6. Dec 21, 20238-K Other events20
  7. Dec 12, 20238-K Entered a material agreement; New debt or obligation21
  8. Jul 24, 20238-K Entered a material agreement22
  9. Jun 20, 20238-K Entered a material agreement23
  10. Jun 2, 20238-K Entered a material agreement; New debt or obligation24
  11. May 30, 20238-K Completed an acquisition or sale; Bylaws or fiscal year changed25
  12. Dec 19, 20228-K Change of auditor26

Filings

67 filings to the SEC since October 2021: 7 annual reports, 17 quarterly reports, 22 major events, 2 private raises, 19 other. The latest 20:

  1. Oct 15, 202610-Q LAREDO OIL, INC. FORM 10-Q EDGAR
  2. Sep 30, 202610-K/A LAREDO OIL, INC. FORM 10-K/A, AMENDMENT NO. 1 EDGAR
  3. Sep 14, 202610-K LAREDO OIL, INC. FORM 10-K EDGAR
  4. Aug 31, 2026NT 10-K LAREDO OIL, INC, FORM NT 10-K EDGAR
  5. Apr 14, 202610-Q LAREDO OIL, INC. FORM 10-Q EDGAR
  6. Jan 20, 202610-Q LAREDO OI, INC. 10-Q EDGAR
  7. Jan 14, 2026NT 10-Q LAREDO OIL, INC. NT 10-Q EDGAR
  8. Oct 20, 202510-Q LAREDO OI, INC. 10-Q EDGAR
  9. Oct 15, 2025NT 10-Q LAREDO OIL, INC. FORM NT 10-Q EDGAR
  10. Sep 15, 202510-K LAREDO OIL, INC. 10-K EDGAR
  11. Aug 29, 2025NT 10-K LAREDO OIL, INC. FORM NT 10-K EDGAR
  12. Jun 17, 20258-K LAREDO OIL, INC. FORM 8-K EDGAR
  13. Apr 21, 202510-Q LAREDO OI, INC. 10-Q EDGAR
  14. Apr 14, 2025NT 10-Q LAREDO OIL, INC. FORM NT 10-Q EDGAR
  15. Jan 17, 202510-Q LAREDO OI, INC. 10-Q EDGAR
  16. Jan 15, 2025NT 10-Q LAREDO OIL, INC. FORM NT 10-Q EDGAR
  17. Oct 21, 202410-Q LAREDO OI, INC. 10-Q EDGAR
  18. Oct 15, 2024NT 10-Q LAREDO OIL, INC. FORM NT 10-Q EDGAR
  19. Oct 2, 202410-K/A LAREDO OIL, INC. 10-K EDGAR
  20. Sep 30, 202410-K LAREDO OIL, INC. 10-K EDGAR

The 67 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Oct 1, 2021Raised $185,625 in a private offering of debt Form D: $1.3 million offered in all Form D

SEC filer profile

How Laredo Oil, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLaredo Oil, Inc.1
  • CIK0001442492
  • Employer ID (EIN)26-24358741
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inDelaware1
  • Fiscal year endsMay 311
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address2021 Guadalupe Street,, Ste. 260, Austin, TX 787051
  • Phone(512) 337-11991
  • Shares outstanding85,945,558 as of Oct 15, 202612
  • Public float$26.1M as of Nov 30, 20252
  • On EDGAR sinceAug 25, 20081
  • Filings189 in all: 10-Q (55), 8-K (50), 10-K (18), NT 10-Q (15), CORRESP (11), UPLOAD (10), NT 10-K (8), 10-K/A (3)1
    All 18 form types

    10-Q/A (3), D (3), S-8 (3), 424B3 (2), EFFECT (2), POS AM (2), 8-K/A (1), D/A (1), S-1 (1), SC 13G/A (1)

  • Latest filingsAnnual report (10-K) Sep 14, 2026
    Quarterly report (10-Q) Oct 15, 2026
    Latest 8-K (8-K) Jun 17, 2025

Risk factors and legal proceedings

Legal proceedings

On March 20, 2023, Capex Oilfield Services, Inc. (“Capex”) filed a lawsuit against Lustre in the Montana Tenth Judicial District Court, Petroleum County, demanding payment of $377,190, plus interest and collection costs for services provided by Capex to drill the Olfert 11-4 well. On January 29, 2024, the court issued a Stipulated Judgment and Order in favor of Capex for $354,267.29 plus interest in the amount of $79,224.89 and future accruing costs and interest of 18% per annum. On the same day, Lustre entered into a payment arrangement plan to pay Capex $5,000 per month until the judgement is satisfied. Payments are ongoing.

On May 18, 2023, Capstar Drilling, Inc.(“Capstar”) filed a lawsuit against Lustre in the Montana Seventeenth Judicial District Court, Valley County, demanding payment of $298,050, plus interest and collection costs, for services provided by Capstar to drill the Olfert 11-4 well. On July 18, 2024, the court issued an Order to Adopt Stipulation to Judgment in favor of Capstar in the sum of $276,815 principal balance, plus interest in the amount of $49,675 and court costs for a total judgment of $326,650 with post judgment interest of 10% per annum.

On August 29, 2023, Warren Well Service, Inc. (“Warren Well”) filed a lawsuit against Lustre in the Montana Seventeenth Judicial District Court, Valley County, demanding payment of $164,235, plus interest and collection costs for services provided by Warren Well to drill the Olfert 11-4 well. On March 31, 2025, Lustre agreed in mediation to pay $750 per month until all outstanding amounts owed to Warren Well are satisfied. Payments are on going.

The opening of Item 3, Legal Proceedings.13

Sources

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    SEC EDGAROther events
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