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10-Q - LAREDO OIL, INC. 11/30/2012 10-Q - Laredo Oil, Inc.laredo_10q-113012.htm
EX-31.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - Laredo Oil, Inc.exhibit_31-1.htm
EX-31.2 - CERTIFICATION OF THE CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - Laredo Oil, Inc.exhibit_31-2.htm
EX-32.1 - CERTIFICATE PURSUANT TO 18 U.S.C. SECTION 1350 SIGNED BY THE CHIEF EXECUTIVE OFFICER - Laredo Oil, Inc.exhibit_32-1.htm
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EX-32.1 - CERTIFICATE PURSUANT TO 18 U.S.C. SECTION 1350 SIGNED BY THE CHIEF FINANCIAL OFFICER - Laredo Oil, Inc.exhibit_32-2.htm
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Statements of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2012
Nov. 30, 2011
Income Statement [Abstract]        
Management fee revenue $ 490,593 $ 381,360 $ 961,886 $ 802,759
Direct costs 423,242 289,311 792,596 513,495
Gross profit 67,351 92,049 169,290 289,264
General, selling and administrative expenses 134,089 24,372 275,350 51,079
Consulting and professional services 86,148 53,947 169,564 5,131,203
Total Operating Expense 220,237 78,319 444,914 5,182,282
Operating income (loss) (152,886) 13,730 (275,624) (4,893,018)
Other income (expense)        
Gain on revaluation of warrant liability 7,551 39,837 28,620 481,864
Other income          200,000
Interest expense (5,268) (5,264) (10,690) (14,437)
Net income (loss) $ (150,603) $ 48,303 $ (257,694) $ (4,225,591)
Net income (loss) per share, basic and diluted $ 0 $ 0 $ 0.00 $ (0.08)
Weighted average number of common shares outstanding 53,500,013 52,000,013 53,327,882 52,000,013