Company Quick10K Filing
Laredo Oil
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 55 $5
10-Q 2020-01-14 Quarter: 2019-11-30
10-Q 2019-10-15 Quarter: 2019-08-31
10-K 2019-08-29 Annual: 2019-05-31
10-Q 2019-04-12 Quarter: 2019-02-28
10-Q 2019-01-14 Quarter: 2018-11-30
10-Q 2018-10-15 Quarter: 2018-08-31
10-K 2018-08-29 Annual: 2018-05-31
10-Q 2018-04-16 Quarter: 2018-02-28
10-Q 2018-01-16 Quarter: 2017-11-30
10-Q 2017-10-16 Quarter: 2017-08-31
10-K 2017-08-29 Annual: 2017-05-31
10-Q 2017-04-14 Quarter: 2017-02-28
10-Q 2017-01-17 Quarter: 2016-11-30
10-Q 2016-10-17 Quarter: 2016-08-31
10-K 2016-08-29 Annual: 2016-05-31
10-Q 2016-04-14 Quarter: 2016-02-29
10-Q 2016-01-14 Quarter: 2015-11-30
10-Q 2015-10-15 Quarter: 2015-08-31
10-K 2015-08-31 Annual: 2015-05-31
10-Q 2015-04-14 Quarter: 2015-02-28
10-Q 2015-01-14 Quarter: 2014-11-30
10-Q 2014-10-15 Quarter: 2014-08-31
10-K 2014-08-29 Annual: 2014-05-31
10-Q 2014-04-14 Quarter: 2014-02-28
10-Q 2014-01-14 Quarter: 2013-11-30
10-Q 2013-10-15 Quarter: 2013-08-31
10-Q 2013-04-11 Quarter: 2013-02-28
10-Q 2013-01-11 Quarter: 2012-11-30
10-Q 2012-10-15 Quarter: 2012-08-31
10-K 2012-08-29 Annual: 2012-05-31
10-Q 2012-04-13 Quarter: 2012-02-29
10-Q 2012-01-13 Quarter: 2011-11-30
10-Q 2011-10-17 Quarter: 2011-08-31
10-K 2011-09-13 Annual: 2011-05-31
10-Q 2011-04-14 Quarter: 2011-02-28
10-Q 2011-01-14 Quarter: 2010-11-30
10-Q 2010-10-15 Quarter: 2010-08-31
10-K 2010-09-14 Annual: 2010-05-31
10-Q 2010-04-14 Quarter: 2010-02-28
10-Q 2010-01-14 Quarter: 2009-11-30

Laredo Oil Financials

LRDC Metrics, Comps, Filings

Annual | Quarterly

Business

Laredo Oil, Inc. (“the Company”) is a management services company managing the acquisition and conventional operation of mature oil fields and the further recovery of stranded oil from those fields using enhanced oil recovery (“EOR”) methods for its sole customer, Stranded Oil Resources Corporation (“SORC”), an indirect, wholly owned subsidiary of Alleghany Corporation (“Alleghany”).

From its inception through October 2009, the Company was primarily engaged in acquisition and exploration efforts for mineral properties. After a change in control in October 2009, the Company shifted its focus to locating mature oil fields with the intention of acquiring those oil fields and recovering stranded oil using EOR methods. The Company was unable to raise the capital required to purchase any suitable oil fields. On June 14, 2011, the Company entered into several agreements with SORC to seek recovery of stranded crude oil from mature, declining oil fields by using the EOR method known as Underground Gravity Drainage (“UGD”). Such agreements consist of a license agreement between the Company and SORC (the “SORC License Agreement”), a license agreement between the Company and Mark See, the Company’s Chairman and Chief Executive Officer (“CEO”) (the “MS-Company License Agreement”), an Additional Interests Grant Agreement between the Company and SORC, a Management Services Agreement between the Company and SORC (the “MSA”), a Finder’s Fee Agreement between the Company and SORC (the “Finder’s Fee Agreement”), and a Stockholders Agreement (the “Stockholders Agreement”) among the Company, SORC and Alleghany Capital Corporation, a wholly-owned subsidiary of Alleghany (“Alleghany Capital”), each of which are dated June 14, 2011 (collectively, the “Agreements”).

The Company and Mark See now provide to SORC both management services and expertise pursuant to the SORC License Agreement, MS-Company License Agreement and the MSA. As consideration for the licenses to SORC, the Company will receive a 19.49% interest in SORC net profits as defined in the SORC License Agreement (the “Royalty”). Under the SORC License Agreement, the Company agreed that a portion of the Royalty equal to at least 2.25% of the net profits (the “Incentive Royalty”) be used to fund a long-term incentive plan for the benefit of its employees, as determined by the Company’s board of directors (the “Board”). On October 11, 2012, the Laredo Royalty Incentive Plan (the “Plan”) was approved and adopted by the Board and the Incentive Royalty was assigned by the Company to Laredo Royalty Incentive Plan, LLC, a special purpose Delaware limited liability company and wholly owned subsidiary of Laredo Oil, Inc. formed to carry out the purposes of the Plan (the “Plan Entity”). As a result of the assignment of the Incentive Royalty to the Plan Entity, the Royalty retained by the Company has been reduced from 19.49% to 17.24% subject to reduction to 15% under certain events stipulated in the SORC License Agreement. Additionally, in the event of a SORC initial public offering or certain other defined corporate events, the Company will receive 17.24%, subject to reduction to 15% under the SORC License Agreement, of the SORC common equity or proceeds emanating from the event in exchange for termination of the Royalty. Under certain circumstances regarding termination of exclusivity and license terminations, the Royalty could be reduced to 7.25%.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Community Savings Bancorp (CCSB) 5,717 78% -319.4 -0% 52,222 44,533 81 63 -159 -9 2,874
H/Cell Energy (HCCC) 5,716 38% -60.6 -15% 3,790 2,486 5,337 2,014 -582 -90 5,459
Mojo Organics (MOJO) 5,713 50% 14.3 102% 391 243 1,657 825 399 399 5,700
First Hartford (FHRT) 5,674 26% -0.2 2% 248,671 244,456 79,815 21,110 6,017 18,447 -3,166
National American University Holdings (NAUH) 5,670 0% 0.2 -66% 38,045 46,203 52,110 0 -25,051 -21,066 -3,290
Wall Street Media (WSCO) 5,654 0% 1,042.5 44% 12 126 65 0 5 5 5,642
Exco Resources (XCO) 5,638 0% 0.9 -18% 1,032,693 2,059,189 303,562 0 -182,697 -62,864 -56,952
Imine (JRVS) 5,585 -4.0 -72,547% 2 590 0 0 -1,527 -1,527 6,083
AgriTek Holdings (AGTK) 5,527 -1,380% -2.2 -520% 1,143 4,125 3 -43 -5,946 -2,974 6,409
THt Heat Transfer Technology (THTI) 5,522 80% 0.1 8% 108,600 49,264 32,700 26,064 9,031 10,780 1,517
Laredo Oil (LRDC) 5,451 2% -45.9 -41% 357 2,059 8,480 196 -146 -113 5,162
Interlink Plus (ITRK) 5,390 0% -64.8 -645% 15 237 49 0 -97 -83 5,384
Aura Systems (AUSI) 5,368 8% 2.2 362% 322 24,757 39 3 1,164 4,867 10,933
Recall Studios (BTOP) 5,363 -1.7 -5% 275,128 46,415 0 0 -13,960 -3,112 5,312
Gridiron Bionutrients (GMVP) 5,358 -44% -5.4 -297% 331 252 83 -37 -985 -982 5,344
Flux Power Holdings (FLUX) 5,357 6% -0.4 -172% 7,206 10,375 9,317 554 -12,414 -12,414 5,255
Ocean Thermal Energy (CPWR) 5,354 -2.4 -23,265% 28 18,357 0 0 -6,517 -5,129 12,188
Vicon Industries (VII) 5,344 53% -1.9 -44% 12,428 12,454 21,238 11,204 -5,409 -4,722 8,944
Burzynski Research Institute (BZYR) 5,258 0% 13 213 0 0 0 0 5,255
Apex 2 (APEX) 5,204 -83.0 -317% 20 230 0 0 -62 -62 5,184

Balance Sheet ($'000)2012-05-312013-05-312014-05-312015-05-312016-05-312017-05-312018-05-312019-05-31
Cash1151088886394331106290
Accounts Receivable
Inventory
PP&E
Assets145143136242440378266357
Accounts Payable212828353338912
Long-Term Debt3503500
Liabilities5748321,6201,7951,7862,2851,8362,059
Stockholders' Equity-429-689-1,483-1,554-1,346-1,907-1,569-1,701
Income Statement ($'000)2012-05-312013-05-312014-05-312015-05-312016-05-312017-05-312018-05-312019-05-31
Revenue1,5812,2053,4728,81910,8979,8239,3628,480
Cost of Revenue1,1451,9553,3268,84110,62410,1018,7498,284
Gross Profit436250146-22272-278613196
R&D
SG&A19354660856449536930078
Tax0000000
Net Income-4,314-688-1,316-706-660-96499-146
Cash Flow ($'000)2012-05-312013-05-312014-05-312015-05-312016-05-312017-05-312018-05-312019-05-31
Cash Operating71-7-19-25308-63-224183
Cash Investing0000000
Cash Financing4300220000