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EXCEL - IDEA: XBRL DOCUMENT - Laredo Resources Corp.Financial_Report.xls
10-K - ANNUAL REPORT - Laredo Resources Corp.lrdo_10k.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R6.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R7.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R9.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R3.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R4.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R5.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R1.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R8.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R2.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R10.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R12.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R13.htm
XML - IDEA: XBRL DOCUMENT - Laredo Resources Corp.R14.htm
EX-31.2 - CERTIFICATION - Laredo Resources Corp.lrdo_ex312.htm
EX-32.1 - CERTIFICATION - Laredo Resources Corp.lrdo_ex321.htm
EX-10.2 - PROMISSORY NOTE ISSUED TO ROBERT GARDNER - Laredo Resources Corp.lrdo_ex102.htm
EX-31.1 - CERTIFICATION - Laredo Resources Corp.lrdo_ex311.htm
v2.4.0.6
Related Party Transactions
12 Months Ended
Aug. 31, 2012
Notes  
Related Party Transactions

Note 5  Related Party Transactions

 

On May 21, 2012, the Company President loaned $10,000 to the Company and the Company issued a promissory note in the amount of $10,000.  The promissory note is unsecured, bears interest at 6% per annum, and matures on May 31, 2014.  During the year ended August 31, 2012, the Company accrued $270 (2011 - $nil) of interest expense in respect of this note payable.  Total accrued interest on this note as of August 31, 2012 was $270 (2011 - $nil)

 

On March 20, 2012, the Company President loaned $7,500 to the Company and the Company issued a promissory note in the amount of $7,500.  The promissory note is unsecured, bears interest at 6% per annum, and matures on March 31, 2013.  During the year ended August 31, 2012, the Company accrued $202 (2011 - $nil) of interest expense in respect of this note payable.  Total accrued interest on this note as of August 31, 2012 was $202 (2011 - $nil)

 

On November 22, 2011, the Company President loaned $15,000 to the Company and the Company issued a promissory note in the amount of $15,000.  The promissory note is unsecured, bears interest at 6% per annum, and matures on November 30, 2013.  During the year ended August 31, 2012, the Company accrued $698 (2011 - $nil) of interest expense in respect of this note payable.  Total accrued interest on this note as of August, 2012 was $698 (2011 - $nil)

 

On September 13, 2011, the Company President loaned $15,000 to the Company and the Company issued a promissory note in the amount of $15,000.  The promissory note is unsecured, bears interest at 6% per annum, and matures on September 30, 2013.  During the year ended August 31, 2012, the Company accrued $870 (2011 - $nil) of interest expense in respect of this note payable.  Total accrued interest on this note as of August 31, 2012 was $870 (2011 - $nil)

 

On August 22, 2011, the Company President loaned $4,000 to the Company and the Company issued a promissory note in the amount of $4,000.  The promissory note is unsecured, bears interest at 6% per annum, and matures on August 31, 2013.  During the year ended August 31, 2012, the Company accrued $240 (2011 - $6) of interest expense in respect of this note payable.  Total accrued interest on this note as of August 31, 2012 was $246 (2011 - $6)

 

On May 10, 2011, the Company President loaned $10,000 to the Company and the Company issued a promissory note in the amount of $10,000.  The promissory note is unsecured, bears interest at 6% per annum, and matures on May 31, 2013.  During the year ended August 31, 2012, the Company accrued $601 (2011 - $186) of interest expense in respect of this note payable.  Total accrued interest on this note as of August 31, 2012 was $787 (2011 - $186)

 

On February 15, 2011, the Company President loaned $10,000 to the Company and the Company issued a promissory note in the amount of $10,000.  The promissory note is unsecured, bears interest at 6% per annum, and matures on February 28, 2013.  During the year ended August 31, 2012, the Company accrued $601 (2011 - $324) of interest expense in respect of this note payable.  Total accrued interest on this note as of August 31, 2012 was $925 (2011 - $324)

 

On September 2, 2010, the Company President loaned $15,000 to the Company and the Company issued a promissory note in the amount of $15,000.  The promissory note is unsecured, non-interest bearing, and matures on September 30, 2012.  During the year ended August 31, 2012, the Company accrued $902 (2011 - $895) of interest expense in respect of this note payable.  The Company also recorded a capital contribution for the year ended August 31, 2012 of $902 (2011 - $895) in respect of the imputed interest charged on this note payable.

 

On August 19, 2010, the Company received and accepted a subscription to purchase 2,000,000 shares of common stock at $0.0078 per share for aggregate proceeds of $15,625 from the Company’s president.  The subscription agreement permitted the Company to accept 200,000 Mexican Peso’s in full settlement of the share subscription.  The share subscription was settled in Mexican Peso’s.

 

Subsequent to the year end, on September 10, 2012, the President resigned and her controlling interest of 100,000,000 post split shares was transferred to a third party who subsequently was appointed President. 

 

On September 10, 2012, the Company assigned all membership units of LRE to the former President of the Company and received as consideration the release and discharge of all liabilities under all the promissory notes and accrued interest to the date of the transaction.  As at August 31, 2012, this amount aggregated $90,688.