$LRDC
Laredo Oil Inc Stock $lrdc

$lrdc Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000119983524000169 Filed on April 19, 2024

Income Statement

Concept	2024 Q2	2024 Q1	2023 Q1
Revenue		$12.70K	$0.00
YoY Change			-100.0%
Cost Of Revenue			$0.00
YoY Change			-100.0%
Gross Profit		$12.70K	$0.00
YoY Change			-100.0%
Gross Profit Margin		100.0%
Selling, General & Admin		$463.1K	$590.2K
YoY Change		-21.54%	290.45%
% of Gross Profit		3645.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization		$5.100K	$9.310K
YoY Change		-45.22%	-33.26%
% of Gross Profit		40.15%
Operating Expenses		$563.1K	$590.2K
YoY Change		-4.59%	290.45%
Operating Profit		-$550.4K	-$590.2K
YoY Change		-6.74%	37.97%
Interest Expense		$105.8K	-$108.9K
YoY Change		-197.2%	356.01%
% of Operating Profit
Other Income/Expense, Net		$400.0K	$0.00
YoY Change
Pretax Income		-$336.4K	-$699.0K
YoY Change		-51.87%	54.78%
Income Tax
% Of Pretax Income
Net Earnings		-$336.4K	-$699.0K
YoY Change		-51.87%	54.78%
Net Earnings / Revenue		-2648.68%
Basic Earnings Per Share
Diluted Earnings Per Share		$0.00	-$0.01
COMMON SHARES
Basic Shares Outstanding	71.82M shares	71.48M shares	57.26M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q1	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.895M	$7.180K
YoY Change	26292.2%	-99.28%
Cash & Equivalents	$2.282K	$7.180K
Short-Term Investments
Other Short-Term Assets	$17.69K	$28.60K
YoY Change	-38.15%	24.78%
Inventory
Prepaid Expenses
Receivables	$0.00	$1.780K
Other Receivables	$412.7K	$0.00
Total Short-Term Assets	$2.325M	$37.55K
YoY Change	6092.69%	-96.32%
LONG-TERM ASSETS
Property, Plant & Equipment	$4.713M	$4.584M
YoY Change	2.81%	238.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$194.8K	$335.1K
YoY Change	-41.86%	-0.54%
Other Assets	$30.00K	$30.00K
YoY Change	0.0%	200.0%
Total Long-Term Assets	$4.938M	$4.949M
YoY Change	-0.23%	191.24%
TOTAL ASSETS
Total Short-Term Assets	$2.325M	$37.55K
Total Long-Term Assets	$4.938M	$4.949M
Total Assets	$7.263M	$4.987M
YoY Change	45.64%	83.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.042M	$1.916M
YoY Change	6.57%	548.19%
Accrued Expenses	$2.940M	$2.246M
YoY Change	30.89%	35.85%
Deferred Revenue
YoY Change
Short-Term Debt	$2.919M	$2.648M
YoY Change	10.26%	217.02%
Long-Term Debt Due	$67.07K	$396.8K
YoY Change	-83.1%	63.91%
Total Short-Term Liabilities	$12.19M	$9.006M
YoY Change	35.3%	123.68%
LONG-TERM LIABILITIES
Long-Term Debt	$903.9K	$617.4K
YoY Change	46.41%	-39.01%
Other Long-Term Liabilities	$72.57K	$66.39K
YoY Change	9.31%
Total Long-Term Liabilities	$976.5K	$683.8K
YoY Change	42.81%	-32.45%
TOTAL LIABILITIES
Total Short-Term Liabilities	$12.19M	$9.006M
Total Long-Term Liabilities	$976.5K	$683.8K
Total Liabilities	$13.16M	$9.690M
YoY Change	35.83%	92.32%
SHAREHOLDERS EQUITY
Retained Earnings	-$17.22M
YoY Change
Common Stock	$7.148K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$5.899M	-$4.703M
YoY Change
Total Liabilities & Shareholders Equity	$7.263M	$4.987M
YoY Change	45.64%	83.41%

Cashflow Statement

Concept	2024 Q1	2023 Q1
OPERATING ACTIVITIES
Net Income	-$336.4K	-$699.0K
YoY Change	-51.87%	54.78%
Depreciation, Depletion And Amortization	$5.100K	$9.310K
YoY Change	-45.22%	-33.26%
Cash From Operating Activities	-$188.8K	-$419.5K
YoY Change	-55.0%	661.32%
INVESTING ACTIVITIES
Capital Expenditures		$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities	-$39.02K	$5.170K
YoY Change	-854.74%	-101.59%
Cash From Investing Activities	-$39.02K	$5.160K
YoY Change	-856.2%	-101.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	2.084M	321.8K
YoY Change	547.51%	621.11%
NET CHANGE
Cash From Operating Activities	-188.8K	-419.5K
Cash From Investing Activities	-39.02K	5.160K
Cash From Financing Activities	2.084M	321.8K
Net Change In Cash	1.856M	-92.50K
YoY Change	-2106.57%	-72.39%
FREE CASH FLOW
Cash From Operating Activities	-$188.8K	-$419.5K
Capital Expenditures		$0.00
Free Cash Flow		-$419.5K
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense		usd
CY2023Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2024Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2024Q1	us-gaap	Preferred Stock Value PreferredStockValue		usd
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2024Q1	lrdc	Income From Employee Retention Credit IncomeFromEmployeeRetentionCredit		usd
CY2023Q1	lrdc	Income From Employee Retention Credit IncomeFromEmployeeRetentionCredit		usd
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--05-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001442492
CY2023Q2	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent		usd
CY2024Q1	lrdc	Accounts Receivable Related Parties Current1 AccountsReceivableRelatedPartiesCurrent1		usd
CY2023Q2	us-gaap	Accounts Payable Other Current AccountsPayableOtherCurrent		usd
CY2023Q2	us-gaap	Preferred Stock Value PreferredStockValue		usd
CY2024Q1	us-gaap	Cost Of Revenue CostOfRevenue		usd
CY2023Q1	us-gaap	Cost Of Revenue CostOfRevenue		usd
	us-gaap	Cost Of Revenue CostOfRevenue		usd
	us-gaap	Cost Of Revenue CostOfRevenue		usd
CY2023Q1	us-gaap	Gross Profit GrossProfit		usd
	us-gaap	Gross Profit GrossProfit		usd
	lrdc	Income From Employee Retention Credit IncomeFromEmployeeRetentionCredit		usd
CY2024Q1	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets		usd
CY2023Q1	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets		usd
CY2023Q1	us-gaap	Interest And Other Income InterestAndOtherIncome		usd
	us-gaap	Interest And Other Income InterestAndOtherIncome		usd
	us-gaap	Restricted Stock Expense RestrictedStockExpense		usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable		usd
	us-gaap	Increase Decrease In Due From Related Parties IncreaseDecreaseInDueFromRelatedParties		usd
	us-gaap	Proceeds From Sale Of Intangible Assets ProceedsFromSaleOfIntangibleAssets		usd
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments		usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment		usd
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt		usd
	lrdc	Sale Of Assets In Exchange For Note Payable Repayment SaleOfAssetsInExchangeForNotePayableRepayment		usd
CY2023Q2	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents		usd
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y
CY2023Q3	lrdc	Due To Related Parties Noncurrent1 DueToRelatedPartiesNoncurrent1		usd
CY2023Q2	lrdc	Due To Related Parties Noncurrent1 DueToRelatedPartiesNoncurrent1		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2024-02-29
	dei	Entity File Number EntityFileNumber	333-153168
	dei	Entity Registrant Name EntityRegistrantName	Laredo Oil, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Address Address Line1 EntityAddressAddressLine1	2021 Guadalupe Street
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Ste. 260
	dei	Entity Address City Or Town EntityAddressCityOrTown	Austin
	dei	Entity Address State Or Province EntityAddressStateOrProvince	TX
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	78705
	dei	City Area Code CityAreaCode	(512)
	dei	Local Phone Number LocalPhoneNumber	337-1199
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Shell Company EntityShellCompany	false
CY2024Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	71818590	shares
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1894962	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13754	usd
CY2024Q1	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	412701	usd
CY2023Q2	lrdc	Accounts Receivable Related Parties Current1 AccountsReceivableRelatedPartiesCurrent1	1779	usd
CY2024Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	17692	usd
CY2023Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	36549	usd
CY2024Q1	us-gaap	Assets Current AssetsCurrent	2325355	usd
CY2023Q2	us-gaap	Assets Current AssetsCurrent	52082	usd
CY2024Q1	us-gaap	Oil And Gas Property Full Cost Method Net OilAndGasPropertyFullCostMethodNet	4518896	usd
CY2023Q2	us-gaap	Oil And Gas Property Full Cost Method Net OilAndGasPropertyFullCostMethodNet	4547740	usd
CY2024Q1	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	193883	usd
CY2023Q2	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	209182	usd
CY2024Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	4712779	usd
CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	4756922	usd
CY2024Q1	us-gaap	Other Assets OtherAssets	30000	usd
CY2023Q2	us-gaap	Other Assets OtherAssets	30000	usd
CY2024Q1	us-gaap	Assets Assets	7262949	usd
CY2023Q2	us-gaap	Assets Assets	5126127	usd
CY2024Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	2042301	usd
CY2023Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	2197975	usd
CY2024Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2940061	usd
CY2023Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2262450	usd
CY2024Q1	us-gaap	Interest Payable Current InterestPayableCurrent	380466	usd
CY2023Q2	us-gaap	Interest Payable Current InterestPayableCurrent	210414	usd
CY2024Q1	us-gaap	Accounts Payable Other Current AccountsPayableOtherCurrent	50505	usd
CY2024Q1	lrdc	Deferred Well Development Costs DeferredWellDevelopmentCosts	3785710	usd
CY2023Q2	lrdc	Deferred Well Development Costs DeferredWellDevelopmentCosts	1799260	usd
CY2024Q1	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	949159	usd
CY2023Q2	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	839798	usd
CY2024Q1	lrdc	Revolving Note RevolvingNote	1060061	usd
CY2023Q2	lrdc	Revolving Note RevolvingNote	933000	usd
CY2024Q1	lrdc	Notes Payable Related Parties Classified Current1 NotesPayableRelatedPartiesClassifiedCurrent1	292099	usd
CY2023Q2	lrdc	Notes Payable Related Parties Classified Current1 NotesPayableRelatedPartiesClassifiedCurrent1	292099	usd
CY2024Q1	lrdc	Due To Related Parties Current1 DueToRelatedPartiesCurrent1	617934	usd
CY2023Q2	lrdc	Due To Related Parties Current1 DueToRelatedPartiesCurrent1	617934	usd
CY2024Q1	us-gaap	Notes Payable Current NotesPayableCurrent	67073	usd
CY2023Q2	us-gaap	Notes Payable Current NotesPayableCurrent	449624	usd
CY2024Q1	us-gaap	Liabilities Current LiabilitiesCurrent	12185369	usd
CY2023Q2	us-gaap	Liabilities Current LiabilitiesCurrent	9602554	usd
CY2024Q1	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	72570	usd
CY2023Q2	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	67938	usd
CY2024Q1	us-gaap	Long Term Notes Payable LongTermNotesPayable	903883	usd
CY2023Q2	us-gaap	Long Term Notes Payable LongTermNotesPayable	536974	usd
CY2024Q1	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	976453	usd
CY2023Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	604912	usd
CY2024Q1	us-gaap	Liabilities Liabilities	13161822	usd
CY2023Q2	us-gaap	Liabilities Liabilities	10207466	usd
CY2024Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2024Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2024Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2023Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	120000000	shares
CY2023Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	120000000	shares
CY2024Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	71475205	shares
CY2024Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	71475205	shares
CY2023Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	66220306	shares
CY2023Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	66220306	shares
CY2024Q1	us-gaap	Common Stock Value CommonStockValue	7148	usd
CY2023Q2	us-gaap	Common Stock Value CommonStockValue	6622	usd
CY2024Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	11313282	usd
CY2023Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	9990378	usd
CY2024Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-17219303	usd
CY2023Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-15078339	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-5898873	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-5081339	usd
CY2024Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	7262949	usd
CY2023Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	5126127	usd
CY2024Q1	us-gaap	Revenues Revenues	12701	usd
CY2023Q1	us-gaap	Revenues Revenues	-0	usd
	us-gaap	Revenues Revenues	12701	usd
	us-gaap	Revenues Revenues	-0	usd
CY2024Q1	us-gaap	Gross Profit GrossProfit	12701	usd
	us-gaap	Gross Profit GrossProfit	12701	usd
CY2024Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	463073	usd
CY2023Q1	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	413758	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2325516	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	1475525	usd
CY2024Q1	us-gaap	Professional Fees ProfessionalFees	100000	usd
CY2023Q1	us-gaap	Professional Fees ProfessionalFees	176412	usd
	us-gaap	Professional Fees ProfessionalFees	361515	usd
	us-gaap	Professional Fees ProfessionalFees	667298	usd
CY2024Q1	us-gaap	Operating Expenses OperatingExpenses	563073	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	590170	usd
	us-gaap	Operating Expenses OperatingExpenses	2687031	usd
	us-gaap	Operating Expenses OperatingExpenses	2142823	usd
CY2024Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-550372	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-590170	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-2674330	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-2142823	usd
CY2024Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	400000	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	750000	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1521	usd
	lrdc	Income From Employee Retention Credit IncomeFromEmployeeRetentionCredit	122682	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	175000	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	22364	usd
CY2024Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-81175	usd
CY2023Q1	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-10255	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-92309	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-47506	usd
CY2024Q1	us-gaap	Interest And Other Income InterestAndOtherIncome	945	usd
	us-gaap	Interest And Other Income InterestAndOtherIncome	945	usd
CY2024Q1	us-gaap	Interest Expense InterestExpense	105807	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	98591	usd
	us-gaap	Interest Expense InterestExpense	300270	usd
	us-gaap	Interest Expense InterestExpense	279647	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-336409	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-699016	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2140964	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2323409	usd
CY2024Q1	lrdc	Earnings Per Share Basic And Diluted1 EarningsPerShareBasicAndDiluted1	-0.00
CY2023Q1	lrdc	Earnings Per Share Basic And Diluted1 EarningsPerShareBasicAndDiluted1	-0.01
	lrdc	Earnings Per Share Basic And Diluted1 EarningsPerShareBasicAndDiluted1	-0.03
	lrdc	Earnings Per Share Basic And Diluted1 EarningsPerShareBasicAndDiluted1	-0.04
CY2024Q1	lrdc	Weighted Average Number Of Share Outstanding Basic And Diluted1 WeightedAverageNumberOfShareOutstandingBasicAndDiluted1	71432162	shares
CY2023Q1	lrdc	Weighted Average Number Of Share Outstanding Basic And Diluted1 WeightedAverageNumberOfShareOutstandingBasicAndDiluted1	57255381	shares
	lrdc	Weighted Average Number Of Share Outstanding Basic And Diluted1 WeightedAverageNumberOfShareOutstandingBasicAndDiluted1	68420230	shares
	lrdc	Weighted Average Number Of Share Outstanding Basic And Diluted1 WeightedAverageNumberOfShareOutstandingBasicAndDiluted1	56209677	shares
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-5081339	usd
CY2023Q3	us-gaap	Share Based Compensation ShareBasedCompensation	721110	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-1118790	usd
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	-5479019	usd
CY2023Q4	us-gaap	Share Based Compensation ShareBasedCompensation	235142	usd
CY2023Q4	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	168991	usd
CY2023Q4	us-gaap	Net Income Loss NetIncomeLoss	-685765	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-5760651	usd
CY2024Q1	us-gaap	Share Based Compensation ShareBasedCompensation	146672	usd
CY2024Q1	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	51515	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-336409	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-5898873	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-2797949	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Restricted Stock Award Gross StockIssuedDuringPeriodValueRestrictedStockAwardGross	187257	usd
CY2022Q3	us-gaap	Share Based Compensation ShareBasedCompensation	133110	usd
CY2022Q3	lrdc	Cumulative Effect Of Accounting Changes CumulativeEffectOfAccountingChanges	-39718	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-874625	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	-3391925	usd
CY2022Q4	us-gaap	Share Based Compensation ShareBasedCompensation	9625	usd
CY2022Q4	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	118276	usd
CY2022Q4	us-gaap	Net Income Loss NetIncomeLoss	-749768	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-4013792	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	9623	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-699016	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-4703185	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2140964	usd
	us-gaap	Net Income Loss NetIncomeLoss	-2323409	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	1102924	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	152358	usd
	us-gaap	Restricted Stock Expense RestrictedStockExpense	187257	usd
	us-gaap	Depreciation Depreciation	15299	usd
	us-gaap	Depreciation Depreciation	31498	usd
	us-gaap	Accretion Expense AccretionExpense	4632	usd
	us-gaap	Accretion Expense AccretionExpense	4632	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	60549	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	71284	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-92309	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-47506	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	175000	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	22364	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-412701	usd
	us-gaap	Increase Decrease In Due From Related Parties IncreaseDecreaseInDueFromRelatedParties	1779	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-18857	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	6360	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	88550	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	81513	usd
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	677611	usd
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	343667	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	182994	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	133617	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-483161	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1298801	usd
	us-gaap	Proceeds From Sale Of Intangible Assets ProceedsFromSaleOfIntangibleAssets	175000	usd
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	18438	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	303	usd
	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	164876	usd
	us-gaap	Payments To Acquire Oil And Gas Property And Equipment PaymentsToAcquireOilAndGasPropertyAndEquipment	962884	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	10124	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-981625	usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	440000	usd
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	962423	usd
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	179163	usd
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	325630	usd
	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	200000	usd
	lrdc	Proceeds From Revolving Note ProceedsFromRevolvingNote	127061	usd
	lrdc	Proceeds From Revolving Note ProceedsFromRevolvingNote	798000	usd
	lrdc	Proceeds From Prefunded Drilling Costs ProceedsFromPrefundedDrillingCosts	1986450	usd
	lrdc	Proceeds From Prefunded Drilling Costs ProceedsFromPrefundedDrillingCosts	715438	usd
	lrdc	Ppp Loan Repayments PPPLoanRepayments	-20103	usd
	lrdc	Ppp Loan Repayments PPPLoanRepayments	-171812	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	2354245	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	2178419	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	1881208	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-102007	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13754	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	109183	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1894962	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	7176	usd
	lrdc	Oil And Gas Acquisition Costs In Accounts Payable OilAndGasAcquisitionCostsInAccountsPayable	-193720	usd
	lrdc	Oil And Gas Acquisition Costs In Accounts Payable OilAndGasAcquisitionCostsInAccountsPayable	591965	usd
	us-gaap	Interest Paid Net InterestPaidNet	56441	usd
	us-gaap	Interest Paid Net InterestPaidNet	54627	usd
	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	220506	usd
	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	118276	usd
	lrdc	Sale Of Assets In Exchange For Note Payable Repayment SaleOfAssetsInExchangeForNotePayableRepayment	136479	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_843_eus-gaap--UseOfEstimates_z7yB4ZR9l3q2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86E_znGD2vN7nRXb">Use of Estimates</span> </i>– <span style="background-color: white">Management uses estimates and assumptions in preparing these consolidated financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
	us-gaap	Revenue Recognition Allowances RevenueRecognitionAllowances	<p id="xdx_849_eus-gaap--RevenueRecognitionAllowances_zrYwDDZr9g5h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_863_zY4kUy5mjrq5">Revenue recognition</span></i> – The Company recognized revenue in accordance with ASC 606, Revenue from Contracts with Customers. The Companys current revenue is from sales of oil and gas production. Revenue from oil and gas production is recognized based on sales date as reported to the Company by the operators or oil and gas production facilities in which the company has an interest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1	us-gaap	Accretion Expense AccretionExpense	1544	usd
	us-gaap	Accretion Expense AccretionExpense	4632	usd
	us-gaap	Accretion Expense AccretionExpense	4632	usd
CY2023Q2	us-gaap	Notes Payable NotesPayable	986598	usd
CY2024Q1	us-gaap	Notes Payable Current NotesPayableCurrent	67073	usd
CY2023Q2	us-gaap	Notes Payable Current NotesPayableCurrent	449624	usd
CY2024Q1	us-gaap	Long Term Notes Payable LongTermNotesPayable	903883	usd
CY2023Q2	us-gaap	Long Term Notes Payable LongTermNotesPayable	536974	usd
	us-gaap	Costs Incurred Development Costs CostsIncurredDevelopmentCosts	3301274	usd
CY2023	us-gaap	Costs Incurred Development Costs CostsIncurredDevelopmentCosts	3410832	usd
	us-gaap	Costs Incurred Acquisition Of Oil And Gas Properties CostsIncurredAcquisitionOfOilAndGasProperties	1217622	usd
CY2023	us-gaap	Costs Incurred Acquisition Of Oil And Gas Properties CostsIncurredAcquisitionOfOilAndGasProperties	1136908	usd
	us-gaap	Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities	4518896	usd
CY2023	us-gaap	Costs Incurred Oil And Gas Property Acquisition Exploration And Development Activities CostsIncurredOilAndGasPropertyAcquisitionExplorationAndDevelopmentActivities	4547740	usd
CY2024Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2282	usd
CY2023Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13754	usd
CY2024Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	1892680	usd
CY2024Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1894962	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13754	usd
CY2024Q1	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	72570	usd
CY2023Q2	us-gaap	Asset Retirement Obligations Noncurrent AssetRetirementObligationsNoncurrent	67938	usd
CY2024Q1	us-gaap	Accretion Expense AccretionExpense	1544	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0407	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0185	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	2.813	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	3.149	pure
CY2023Q2	us-gaap	Conversion Of Stock Shares Converted1 ConversionOfStockSharesConverted1	1902039	shares
CY2023Q3	lrdc	Notes Payable Related Parties Current And Noncurrent1 NotesPayableRelatedPartiesCurrentAndNoncurrent1	617934	usd
CY2023Q2	lrdc	Notes Payable Related Parties Current And Noncurrent1 NotesPayableRelatedPartiesCurrentAndNoncurrent1	617934	usd
CY2023Q3	lrdc	Due To Related Parties Current1 DueToRelatedPartiesCurrent1	617934	usd
CY2023Q2	lrdc	Due To Related Parties Current1 DueToRelatedPartiesCurrent1	617934	usd
CY2024Q1	us-gaap	Notes Payable NotesPayable	970956	usd

Files In Submission

Name	View Source	Status
0001199835-24-000169-index-headers.html	Edgar Link	pending
0001199835-24-000169-index.html	Edgar Link	pending
0001199835-24-000169.txt	Edgar Link	pending
0001199835-24-000169-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
lrdc-10q.htm	Edgar Link	pending
lrdc-20240229.xsd	Edgar Link	pending
lrdc-ex31_1.htm	Edgar Link	pending
lrdc-ex31_2.htm	Edgar Link	pending
lrdc-ex32_1.htm	Edgar Link	pending
lrdc-ex32_2.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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R13.htm	Edgar Link	pending
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R16.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
lrdc-20240229_cal.xml	Edgar Link	unprocessable
lrdc-20240229_def.xml	Edgar Link	unprocessable
lrdc-20240229_lab.xml	Edgar Link	unprocessable
lrdc-20240229_pre.xml	Edgar Link	unprocessable
lrdc-10q_htm.xml	Edgar Link	completed
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
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R3.htm	Edgar Link	pending
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R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$LRDC
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2024 Q2 Form 10-Q Financial Statement

#000119983524000169 Filed on April 19, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

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$LRDC Laredo Oil Inc Stock $lrdc

2024 Q2 Form 10-Q Financial Statement

#000119983524000169 Filed on April 19, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LRDC
Laredo Oil Inc Stock $lrdc