10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

[ x ] Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended May 31, 2014

[ ] Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________to__________

Commission File Number: 000-54577

Laredo Resources Corp.
(Exact name of registrant as specified in its charter)

NV	90-0822497
(State or other jurisdiction of incorporation or	(IRS Employer Identification No.)
organization)

300 Jameson House, 838 West Hastings Street, Vancouver, B.C., Canada V6C 0A6
(Address of principal executive offices)

(604) 669-9000
(Registrant’s telephone number)

 ________________________________________________________________
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days
[ x ] Yes[ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
[ ] Yes[ x ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ]	Smaller reporting company [ x ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
[ ] Yes[ x ] No

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 2,128,500,000 as of May 31, 2014

TABLE OF CONTENTS

		Page
PART I - FINANCIAL INFORMATION
Item 1:	Financial Statements	3
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	6
Item 4:	Controls and Procedures	7
PART II - OTHER INFORMATION
Item 1:	Legal Proceedings	8
Item 1A:	Risk Factors	8
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	8
Item 3:	Defaults Upon Senior Securities	8
Item 4:	Mine Safety Disclosures	8
Item 5:	Other Information	8
Item 6:	Exhibits	9

2

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our financial statements included in this Form 10-Q are as follows:

F-2	Balance Sheets as of May 31, 2014 and August 31, 2013 (unaudited);
F-3	Statements of Operations for the three and nine months ended May 31, 2014 and 2013 (unaudited);
F-4	Statements of Cash Flows for the nine months ended May 31, 2014 and 2013 (unaudited);
F-5	Notes to Financial Statements.

These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended May 31, 2014, are not necessarily indicative of the results that can be expected for the full year.

3

Laredo Resources Corp.

Balance Sheets

(Unaudited)

		May 31,			August 31,
		2014			2013
ASSETS
Current Assets
Cash	$	50,314		$	692
Prepaid Expense		-			1,000
Total Current Assets		50,314			1,692
Property option		47,600			-
Intangible asset, net of accumulated amortization of $7,322 and $3,209, respectively		9,178			13,291
TOTAL ASSETS	$	107,092		$	14,983
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	167,251		$	123,400
Advances from related party		185,022			105,901
Note payable		122,201			-
Note payable, related party		7,500			20,000
Accrued interest, related party		-			1,156
Total Current Liabilities		481,974			250,457
Stockholders' Deficit
Series A convertible preferred stock: $.001 par value, 100 shares authorized, none issued or outstanding		-			-
Series B preferred stock: $.00001 par value, 10,000,000 shares authorized, 118,283 issued and outstanding		1			-
Series C convertible preferred stock: $.00001 par value, 10,000,000 shares authorized, 45,138 issued and outstanding		1			-
Series D preferred stock: $.001 par value, 10,000,000 shares authorized, none issued or outstanding		-			-
Common stock: $.00001 par value, 3,000,000,000 shares authorized , 2,128,500,000 and 178,500,000 shares issued and outstanding		21,285			1,785
Additional paid in capital		418,700			269,601
Deficit accumulated		(814,869	)		(506,860	)
Total Stockholders' Deficit		(374,882	)		(235,474	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	107,092		$	14,983

The accompanying notes that are an integral part of these financial statements.

F-2

Laredo Resources Corp.

Statements of Operations

(Unaudited)

		Three Months Ended						Nine Months Ended
		May 31,			May 31,			May 31,			May 31,
		2014			2013			2014			2013
Revenue		-			-			-			-
Operating expenses
Amortization expense	$	1,386		$	1,823		$	4,113		$	1,823
Accounting and audit		3,500			6,084			14,734			21,242
Foreign exchange (gain) loss		-			3			-			(2,324	)
Legal and professional fees		3,215			4,569			9,921			35,388
General and administrative expenses		1,507			53,939			3,111			30,342
Mineral property and exploration costs		-			30,000			-			95,842
Transfer and filing fees		9,887			3,458			14,773			26,194
Management fees		58,900			-			156,700
Stock compensation		27,980			-			32,983			-
Operating loss before interest expense		(106,375	)		(99,876	)		(236,335	)		(208,507	)
Other Income(Expense)
Forgiveness of debt		-			-			17,344			-
Interest expense		(28,657	)		(300	)		(77,156	)		(997	)
Net loss	$	(135,032	)	$	(100,176	)	$	(296,147	)	$	(209,504	)
Preferred stock dividend		(11,862	)		-			(11,862	)		-
Net loss attributable to common shareholders	$	(146,894	)	$	(100,176	)	$	(308,009	)	$	(209,504	)
Basic loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average number of shares outstanding - basic		700,322,222			178,500,000			700,322,222			178,500,000

The accompanying notes that are an integral part of these financial statements.

F-3

Laredo Resources Corp.

Statements of Cash Flows

(Unaudited)

		Nine Months Ended
		May 31,			May 31,
		2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(296,147	)	$	(209,504	)
Adjustments to reconcile net loss to net cash used by operating activities
Non cash interest expense - capital contribution		-			25
Amortization expense		4,113			1,823
Stock-based compensation		32,983			-
Gain on settlement of debt		(17,344	)		-
Changes in operating assets and liabilities:
Prepaid expenses		1,000			-
Accrued interest, related party		-			972
Accounts payables and accrued liabilities		71,295			137,143
Accounts payable, related party		-			66,436
Net cash used in operating activities		(204,100	)		(3,105	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property option		(47,600	)		-
Website development		-			(16,500	)
Net cash used in investing activities		(47,600	)		(16,500	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the sale of preferred stock		100,000			-
Proceeds from note payable		122,201			-
Proceeds from advances, related party		79,121			20,000
Net Cash Provided by Financing Activates		301,322			20,000
Net change in cash and cash equivalents		49,622			395
Cash and cash equivalents, beginning of period		692			368
Cash and cash equivalents, end of period	$	50,314			763
Non-cash transactions:
Issuance of common shares for debt	$	12,500		$	-
Issuance of preferred shares for debt	$	25,689			-
Gain from foreign exchange	$	-		$	2,381
Property option payment in accounts payable	$	20,000			-
Preferred stock dividend	$	11,862			-
Capital Contribution	$	2,911			-

The accompanying notes that are an integral part of these financial statements.

F-4

LAREDO RESOURCES CORP.

Notes to Unaudited Financial Statements

May 31, 2014

Note 1 - Basis of Presentation

While the information presented in the accompanying May 31, 2014 financial statements is unaudited, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the period presented in accordance with the accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the Company’s August 31, 2013 audited financial statements (notes thereto) included in the Company’s Annual Report Form 10-K. Operating results for the nine months ended May 31, 2014 are not necessarily indicative of the results that can be expected for the year ending August 31, 2014.

In the quarter ending May 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to development stage.

Note 2 - Nature of Operations and Ability to Continue as a Going Concern

These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. The Company has yet to achieve profitable operations, has accumulated losses of $814,869 since its inception and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing from shareholders or other sources to meet its obligations and repay its liabilities arising from normal business operations when they become due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available or on acceptable terms, if at all. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence.

Note 3 Summary of Significant Accounting Policies

Mineral Property Option

The Company is primarily engaged in the acquisition, exploration and development of mineral properties.

Mineral property acquisition costs are capitalized in accordance with FASB ASC 930, “Extractive Activities-Mining,” when management has determined that probable future benefits consisting of a contribution to future cash inflows have been identified and adequate financial resources are available or are expected to be available as required to meet the terms of property acquisition and budgeted exploration and development expenditures. Mineral property acquisition costs are expensed as incurred if the criteria for capitalization are not met.

In the event that mineral property acquisition costs are paid with Company shares, those shares are recorded at the estimated fair value at the time the shares are due in accordance with the terms of the property agreements.

Mineral property exploration costs are expensed as incurred.

When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.

Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.

When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.

Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.

Asset Retirement Obligations

Asset retirement obligations (“ARO”) associated with the retirement of a tangible long-lived asset, are recognized as liabilities in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated assets. The cost of tangible long-lived assets, including the initially recognized ARO, is amortized, such that the cost of the ARO is recognized over the useful life of the assets. The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted fair value is accreted to the expected settlement value.

The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate. As of May 31, 2014 the Company has determined no provision for ARO’s is required.

Note 4 - Related Party Transactions

During the quarter ended May 31, 2014, the Company retired $12,500 portion of a $20,000 note owed to the Company's CEO in exchange for 1.25 billion common shares which had a fair value of $12,500. Additionally, accrued interest of $2,911 relating to this note was forgiven. The remaining $7,500 balance bears no interest and is due within one year.

On December 16, 2013, Laredo Resources Corp. entered into a one year consulting agreement with Olie Inc. in exchange for 100,000 shares of Laredo’s Series B preferred shares with a fair value of $21,613. Robert Gardner, CEO of Laredo is the sole officer and majority shareholder of Olie Inc.

During the nine months ended May 31, 2014, the company was advanced $79,121 from the Company’s CEO. Additionally, the CEO performed management services for the company in the amount of $56,700.

Note 5 - Notes Payable

As of May 31, 2014, the Company owes $122,201 to third parties. $48,030 of this amount is non-interest bearing and due on demand. The remaining $74,271 portion is non-interest bearing and is due on May 31, 2015.

Note 6 - Advance for Mineral Property Option

On September 6, 2013, Laredo bought the mineral rights to the Pony Mountain Gold Property from a third party, Magna Management Ltd. During the quarter ending May 31, 2014, the Company paid $47,600 to Magna Management Ltd. The total purchase price for these rights is $3,000,000. However, the Company does not have title to the property and, therefore, has only recorded payments made through May 31, 2014 toward the total purchase price in the financial statements.

Note 7 - Capital Stock

Each share of Series A preferred stock is convertible into the number of shares of common stock equal to four times the sum of all shares of common stock issued and outstanding plus all shares of Series B, C and D preferred stock issued and outstanding divided by the number of shares of Series A preferred stock issued and outstanding at the time of conversion. There are no Series A or D shares issued or outstanding.

Each share of Series B and C preferred stock is convertible into 100,000 common shares. Shares of Series B and C preferred stock may not be converted into shares of common stock for a period of twelve months from each issuance. The holders of Series C preferred stock are entitled to receive dividends when, and if declared by the Board of Directors, in its sole discretion. The company estimated the fair value of preferred stock and common stock using an enterprise valuation model based on current selling prices of comparable non-operating public shell companies.

During the past 9 months:

Laredo changed the number of authorized shares of common stock to 3,000,000,000 and changed the par value from $0.001 to $0.00001. All disclosures have been restated to reflect the change in par value.

Laredo issued 700,000,000 common shares to various consultants for services rendered. These shares were valued at the fair market trading value, in the amount of $11,369 at each date of grant.

Laredo issued 100,000 Series B Preferred shares to Olie Inc. with a fair market price of $21,613 in exchange for a one year consulting contract.

Laredo issued 5,138 Series C Preferred were issued in exchanged for outstanding debt and accrued interest of $25,689. The common shares had a fair value of $8,345 and the difference was recorded as a gain on settlement of debt.

Laredo issued 1.25 billion common shares to its CEO in payment for $12,500 debt. The shares had a fair market value of $12,500.

Laredo issued 40,000 Series C Preferred shares in exchange for $100,000 of third party cash. Each preferred share was priced at $2.50.

On April 19, 2014 Laredo Resources declared a stock dividend of 1 restricted Series B Preferred Share per every 100,000 common shares held as of record date April 19, 2014 and payable on May 6, 2014. No partial shares were granted. The preferred shares had a fair value of $11,862 at the date of grant.

Note 8 - Subsequent Events

In accordance with ASC 855-10, management has evaluated subsequent events through the date the financial statements were issued.

On July 2, 2014 De Joya Griffith, LLC ("De Joya") officially resigned as the Company's independent registered public accounting firm effective immediately. Laredo Resources Corp. engaged MaloneBaily, LLP as the Company's independent registered public accounting firm for the year ended August 31, 2014, to be effective immediately as of July 2, 2014.

F-10

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Company Overview

We were incorporated on August 17, 2010, under the laws of the state of Nevada. We were originally engaged in the exploration of certain mineral claims located in Elko County, Nevada. On September 10, 2012, we entered into an Agreement of Conveyance, Transfer and Assignment of Membership Interests and Assumption of Obligations (the “Agreement”) with our former sole officer and director, Ruth Cruz Santos. Pursuant to the Agreement, we transferred all membership interests in our operating subsidiary, LRE Exploration LLC, to Ms. Santos. In exchange for this assignment of membership interests, Ms. Santos agreed to assume and cancel all liabilities relating to our former business of exploring certain mining claims located in Elko County, Nevada. In addition, Ms. Santos agreed to release all liability under certain promissory notes due and owing to her. As a result of the Agreement, we are no longer pursuing the mineral exploration opportunities located in Elko County, Nevada.

We are currently pursuing a new mineral exploration opportunities under the direction of new management. On November 2, 2012, we entered into a letter agreement with Magna Management Ltd. (“Magna”) under which we have been granted the exclusive right, for a period of sixty (60) days, to negotiate for the purchase of all rights held by Magna in the mineral property known as Pony Mountain Gold, located in the Mineral Hills District (commonly called the Pony District) in southwestern Montana. By agreement with the Magna, the option period has been extended to February 20, 2013. During the exclusive negotiation period, we will have access to all documentation and information regarding the title and geology of the property and any other information necessary for the completion of our due diligence. We anticipate that our purchase of Magna’s rights to the property, if consummated, would be made through a combination of cash payment and issuance of common stock, with the rights being assigned to a wholly-owned subsidiary to be formed. Pricing and other details of the potential acquisition of Magna’s rights are the subject of ongoing negotiations.

On September 6, 2013, the Company memorialized the previous November 2, 2012, MOU agreement with Magna under which we have been granted the rights afforded to Magna as the denoted Buyer pursuant to the CONTRACT FOR DEED FOR SALE AND PURCHASE OF MINING PROPERTY agreement, entered into between Magna and the Sellers on August 1, 2013, regarding the Pony Mountain Gold mineral property.

The Pony Mountain Gold property is comprised of an approximately 4000-acre package of properties, assembled over the years by a local family and local geologist. The property contains several previously-mined, underground hard-rock vein systems, such as the Mountain Cliff, Strawberry-Keystone, Amy, and Atlantic-Pacific (A-P) mines. Historically, the Pony Mountain Gold property has been productive, and we believe it has potential for new productivity.

4

In the event that we acquire Magna’s rights to the Pony Mountain Gold property, we will assume Magna’s rights and duties under a Memorandum of Understanding between Magna and the various owners of the property (the “MOU”). As the assignee of Magna’s rights under the MOU, we would be entitled to exclusive proprietary marketing rights for the property in exchange for total payments of $3,000,000 to be made in quarterly installments of $250,000 each. All net revenues received from third-party processors of material mined from the property will be paid to the owners of the property and applied to the total purchase price until paid in full. The owners will retain a perpetual 2% net smelter royalty. Closing of the transaction contemplated by the MOU will be documented under a definitive Mining Lease and Option Agreement.

Magna has engaged Moen Excavating, LLC to take and prepare samples from dumps located on the Pony Mountain Gold property, to coordinate laboratory testing of samples taken from the property, and to conduct negotiations with the Golden Sunlight-Barrick mill for the processing of material from the property. Magna has also agreed to engage Moen Excavating for all surface work on the property and for the future hauling of dump material from the property to the mill. In the event that we are assigned Magna’s rights to the property, we plan to continue the engagement with Moen Excavating as Magna’s assignee.

Results of Operations for the three and six months ended May 31, 2014 and 2013 and for the period from Inception (August 17, 2010) through May 31, 2014.

Revenues

We have had no revenue for the three and nine months ended May 31, 2014 and May 31, 2013.

Operating Expense

Total Operating Expenses. Total operating expenses for the three months and nine month ended May 31, 2014 and 2013 were $106,375, $99,876, $236,335 and $208,507 respectively. These expenses consisted of stock compensation, legal and professional fees, management fees, general and administrative expenses, and amortization of website. The large increase in operating expense was primarily due to issuance of shares for consulting fees to assist in implementing our business plan.

Furthermore, other expenses for the three months and nine month ended May 31, 2014 and 2013 were $28,657, $300, $59,812 and$997. These expenses were the result of interest on debt and gain on conversion of debt.

Liquidity and Capital Resources

As of May 31, 2014, we had total current assets of $107,092, consisting of $50,314 in cash and $47,600 of a property option. Our total current liabilities as of May 31, 2014 were $481,974, and consisted of a related party note payable, and accounts payable and accrued liabilities, note payable, accrued interest, amount payable to related party for expenses incurred on behalf of the Company, and amount payable to a third party entity against purchase of mining rights. We had a working capital deficit of $384,060 as of May 31, 2014.

Operating activities used $204,100 in net cash during the nine months ended May 31, 2014. Operating activities used $3,105 in net cash during the nine months ended May 31, 2013. Our net losses during these periods were the primary negative components of our operating cash flows. Financing activities generated cash of $301,322 during the nine months ended May 31, 2014, as against $20,000 during the nine months ended May 31, 2013. The source of this cash was the proceeds of related party notes payable, as well as the sale of capital stock.

As discussed above, we will require financing in the amount of $3,000,000 to complete our planned acquisition of the Pony Mountain Gold property. Also, significant additional financing may be required in order to commence the active production of precious metals on those mining claims. We intend to fund our acquisition of the Pony Mountain Gold property rights, as well as our initial operations, through debt and/or equity financing arrangements. We do not have any formal commitments or arrangements for the sales of stock or the advancement or loan of funds at this time. There can be no assurance that such additional financing will be available to us on acceptable terms, in amounts sufficient to fund our planned acquisitions and other activities, or at all.

5

Off Balance Sheet Arrangements

As of May 31, 2014 there were no off balance sheet arrangements.

Going Concern

We have negative working capital, have incurred losses since inception, and have not yet received revenues from options on out property. These factors create substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if we are unable to continue as a going concern.

Our ability to continue as a going concern is dependent on generating cash from the sale of our common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling our equity securities and obtaining debt financing to fund our capital requirement and ongoing operations; however, there can be no assurance we will be successful in these efforts.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

A smaller reporting company is not required to provide the information required by this Item.

6

Item 4. Controls and Procedures

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) as of May 31, 2014. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer, Mr. Robert Gardner.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act are recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Based upon that evaluation, including our Chief Executive Officer and Chief Financial Officer, we have concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this quarterly report. The material weaknesses, which relate to internal control over financial reporting, that were identified are:

• Lack of proper segregation of duties
• Lack of appropriate accounting policies and related procedures
• Lack of adequate personnel and other resources to assure that significant and complex transactions are timecomplex transactiosn are timely analyzed and reviewed

Limitations on the Effectiveness of Internal Controls

Our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving our objectives and our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective at that reasonable assurance level. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the internal control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.

7

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.

Item 1A. Risk Factors

A smaller reporting company is not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3. Defaults upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None

8

Item 6. Exhibits

Exhibit	Description of Exhibit
Number
31.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS **	XBRL Instance Document
101.SCH **	XBRL Taxonomy Extension Schema Document
101.CAL **	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF **	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB **	XBRL Taxonomy Extension Label Linkbase Document
101.PRE **	XBRL Taxonomy Extension Presentation Linkbase Document

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

9

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	LAREDO RESOURCES, CORP.
Date: July 21, 2014	By:	/s/ Robert Gardner
		Robert Gardner
		Chief Executive Officer and Chief Financial
		Officer

10

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

I, Robert Gardner, certify that;

1.	I have reviewed this quarterly report on Form 10-Q for the quarter ended May 31, 2014 of Laredo Resources Corp.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 21, 2014	By:	/s/ Robert Gardner
		Robert Gardner
		Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATIONS

I, Robert Gardner, certify that;

1.	I have reviewed this quarterly report on Form 10-Q for the quarter ended May 31, 2014 of Laredo Resources Corp.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 21, 2014	By:	/s/ Robert Gardner
		Robert Gardner
		Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND

CHIEF FINANCIAL OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Laredo Resources Corp. (the “Company”) on Form 10-Q for the quarter ended May 31, 2014 filed with the Securities and Exchange Commission (the “Report”), I, Robert Gardner, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and
2.	The information contained in the Report fairly presents, in all material respects, the consolidated financial condition of the Company as of the dates presented and the consolidated result of operations of the Company for the periods presented.

Date: July 21, 2014	By:	/s/ Robert Gardner
	Name:	Robert Gardner
	Title:	Principal Executive Officer,
		Principal Financial Officer and Director

This certification has been furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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Related Party Transactions

9 Months Ended

May 31, 2014

Related Party Transactions [Text Block]

Note 4 - Related Party Transactions

During the quarter ended May 31, 2014, the Company retired $12,500 portion of a $20,000 note owed to the Company's CEO in exchange for 1.25 billion common shares which had a fair value of $12,500. Additionally, accrued interest of $2,911 relating to this note was forgiven. The remaining $7,500 balance bears no interest and is due within one year.

On December 16, 2013, Laredo Resources Corp. entered into a one year consulting agreement with Olie Inc. in exchange for 100,000 shares of Laredo’s Series B preferred shares with a fair value of $21,613. Robert Gardner, CEO of Laredo is the sole officer and majority shareholder of Olie Inc.

During the nine months ended May 31, 2014, the company was advanced $79,121 from the Company’s CEO. Additionally, the CEO performed management services for the company in the amount of $56,700.

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Summary of Significant Accounting Policies

9 Months Ended

May 31, 2014

Summary of Significant Accounting Policies [Text Block]

Note 3 Summary of Significant Accounting Policies

Mineral Property Option

The Company is primarily engaged in the acquisition, exploration and development of mineral properties.

Mineral property acquisition costs are capitalized in accordance with FASB ASC 930, “Extractive Activities-Mining,” when management has determined that probable future benefits consisting of a contribution to future cash inflows have been identified and adequate financial resources are available or are expected to be available as required to meet the terms of property acquisition and budgeted exploration and development expenditures. Mineral property acquisition costs are expensed as incurred if the criteria for capitalization are not met.

In the event that mineral property acquisition costs are paid with Company shares, those shares are recorded at the estimated fair value at the time the shares are due in accordance with the terms of the property agreements.

Mineral property exploration costs are expensed as incurred.

When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.

Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.

When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.

Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.

Asset Retirement Obligations

Asset retirement obligations (“ARO”) associated with the retirement of a tangible long-lived asset, are recognized as liabilities in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated assets. The cost of tangible long-lived assets, including the initially recognized ARO, is amortized, such that the cost of the ARO is recognized over the useful life of the assets. The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted fair value is accreted to the expected settlement value.

The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate. As of May 31, 2014 the Company has determined no provision for ARO’s is required.

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Balance Sheets (Unaudited) (USD $)	May 31, 2014	Aug. 31, 2013
Current Assets
Cash	$ 50,314	$ 692
Prepaid Expense	0	1,000
Total Current Assets	50,314	1,692
Property option	47,600	0
Intangible asset, net of accumulated amortization of $7,322 and $3,209, respectively	9,178	13,291
TOTAL ASSETS	107,092	14,983
Current Liabilities
Accounts payable and accrued liabilities	167,251	123,400
Advances from related party	185,022	105,901
Note payable	122,201	0
Note payable, related party	7,500	20,000
Accrued interest, related party	0	1,156
Total Current Liabilities	481,974	250,457
Stockholders' Deficit
Common stock: $.00001 par value, 3,000,000,000 shares authorized , 2,128,500,000 and 178,500,000 shares issued and outstanding	21,285	1,785
Additional paid in capital	418,700	269,601
Deficit accumulated	(814,869)	(506,860)
Total Stockholders' Deficit	(374,882)	(235,474)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	107,092	14,983
Series A convertible preferred stock: $0.001 par value, 100 shares authorized, none issued or outstanding
Stockholders' Deficit
Preferred Stock	0	0
Series B preferred stock: $.00001 par value, 10,000,000 sharesauthorized, 118,283 issued and outstanding
Stockholders' Deficit
Preferred Stock	1	0
Series C convertible preferred stock: $.00001 par value, 10,000,000 sharesauthorized, 45,138 issued and outstanding
Stockholders' Deficit
Preferred Stock	1	0
Series D preferred stock: $.001 par value, 10,000,000 sharesauthorized, none issued or outstanding
Stockholders' Deficit
Preferred Stock	$ 0	$ 0

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Basis of Presentation

9 Months Ended

May 31, 2014

Basis of Presentation [Text Block]

Note 1 - Basis of Presentation

While the information presented in the accompanying May 31, 2014 financial statements is unaudited, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the period presented in accordance with the accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. These financial statements should be read in conjunction with the Company’s August 31, 2013 audited financial statements (notes thereto) included in the Company’s Annual Report Form 10-K. Operating results for the nine months ended May 31, 2014 are not necessarily indicative of the results that can be expected for the year ending August 31, 2014.

In the quarter ending May 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to development stage.

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Nature of Operations and Ability to Continue as a Going Concern

9 Months Ended

May 31, 2014

Nature of Operations and Ability to Continue as a Going Concern [Text Block]

Note 2 - Nature of Operations and Ability to Continue as a Going Concern

These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. The Company has yet to achieve profitable operations, has accumulated losses of $814,869 since its inception and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing from shareholders or other sources to meet its obligations and repay its liabilities arising from normal business operations when they become due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available or on acceptable terms, if at all. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence.

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Balance Sheets (Parenthetical) (Unaudited) (USD $)	May 31, 2014	Aug. 31, 2013
Current Assets
Intangible asset, net of accumulated amortization	$ 7,322	$ 3,209
Stockholders' Deficit
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, Authorized	3,000,000,000	3,000,000,000
Common stock, Issued	2,128,500,000	178,500,000
Common stock, outstanding	2,128,500,000	178,500,000
Series A convertible preferred Stock [Member]
Stockholders' Deficit
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, Authorized	100	100
Preferred stock, Issued	0	0
Preferred stock, outstanding	0	0
Series B Preferred Stock [Member]
Stockholders' Deficit
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, Issued	118,283	118,283
Preferred stock, outstanding	118,283	118,283
Series C convertible preferred stock [Member]
Stockholders' Deficit
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, Issued	45,138	45,138
Preferred stock, outstanding	45,138	45,138
Series D Preferred Stock [Member]
Stockholders' Deficit
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, Issued	0	0
Preferred stock, outstanding	0	0

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Notes Payable (Narrative) (Details) (USD $)	May 31, 2014
Notes payable, due to third parties	$ 122,201
Non-Interest Bearing [Member]
Notes payable, due to third parties	48,030
Inerest Bearing [Member]
Notes payable, due to third parties	$ 74,271

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Document and Entity Information	9 Months Ended
	May 31, 2014
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2014
Trading Symbol	lrdr
Entity Registrant Name	Laredo Resources Corp.
Entity Central Index Key	0001499871
Current Fiscal Year End Date	--08-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	2,128,500,000
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3

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Advance for Mineral Property Option (Narrative) (Details) (Magna [Member], USD $)	9 Months Ended
	May 31, 2014
Magna [Member]
Purchase price of rights	$ 3,000,000
Payments for mineral rights	$ 47,600

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Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	May 31, 2014	May 31, 2013	May 31, 2014	May 31, 2013
Revenue	$ 0	$ 0	$ 0	$ 0
Operating expenses
Amortization expense	1,386	1,823	4,113	1,823
Accounting and audit	3,500	6,084	14,734	21,242
Foreign exchange (gain) loss	0	3	0	(2,324)
Legal and professional fees	3,215	4,569	9,921	35,388
General and administrative expenses	1,507	53,939	3,111	30,342
Mineral property and exploration costs	0	30,000	0	95,842
Transfer and filing fees	9,887	3,458	14,773	26,194
Management fees	58,900	0	156,700	0
Stock compensation	27,980	0	32,983	0
Operating loss before interest expense	(106,375)	(99,876)	(236,335)	(208,507)
Other Income(Expense)
Forgiveness of debt	0	0	17,344	0
Interest expense	(28,657)	(300)	(77,156)	(997)
Net loss	(135,032)	(100,176)	(296,147)	(209,504)
Preferred stock dividend	(11,862)	0	(11,862)	0
Net loss attributable to common shareholders	$ (146,894)	$ (100,176)	$ (308,009)	$ (209,504)
Basic loss per share	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average number of shares outstanding - basic	700,322,222	178,500,000	700,322,222	178,500,000

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Capital Stock

9 Months Ended

May 31, 2014

Capital Stock [Text Block]

Note 7 - Capital Stock

Each share of Series A preferred stock is convertible into the number of shares of common stock equal to four times the sum of all shares of common stock issued and outstanding plus all shares of Series B, C and D preferred stock issued and outstanding divided by the number of shares of Series A preferred stock issued and outstanding at the time of conversion. There are no Series A or D shares issued or outstanding.

Each share of Series B and C preferred stock is convertible into 100,000 common shares. Shares of Series B and C preferred stock may not be converted into shares of common stock for a period of twelve months from each issuance. The holders of Series C preferred stock are entitled to receive dividends when, and if declared by the Board of Directors, in its sole discretion. The company estimated the fair value of preferred stock and common stock using an enterprise valuation model based on current selling prices of comparable non-operating public shell companies.

During the past 9 months:

Laredo changed the number of authorized shares of common stock to 3,000,000,000 and changed the par value from $0.001 to $0.00001. All disclosures have been restated to reflect the change in par value.

Laredo issued 700,000,000 common shares to various consultants for services rendered. These shares were valued at the fair market trading value, in the amount of $11,369 at each date of grant.

Laredo issued 100,000 Series B Preferred shares to Olie Inc. with a fair market price of $21,613 in exchange for a one year consulting contract.

Laredo issued 5,138 Series C Preferred were issued in exchanged for outstanding debt and accrued interest of $25,689. The common shares had a fair value of $8,345 and the difference was recorded as a gain on settlement of debt.

Laredo issued 1.25 billion common shares to its CEO in payment for $12,500 debt. The shares had a fair market value of $12,500.

Laredo issued 40,000 Series C Preferred shares in exchange for $100,000 of third party cash. Each preferred share was priced at $2.50.

On April 19, 2014 Laredo Resources declared a stock dividend of 1 restricted Series B Preferred Share per every 100,000 common shares held as of record date April 19, 2014 and payable on May 6, 2014. No partial shares were granted. The preferred shares had a fair value of $11,862 at the date of grant.

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Advance for Mineral Property Option

9 Months Ended

May 31, 2014

Advance for Mineral Property Option [Text Block]

Note 6 - Advance for Mineral Property Option

On September 6, 2013, Laredo bought the mineral rights to the Pony Mountain Gold Property from a third party, Magna Management Ltd. During the quarter ending May 31, 2014, the Company paid $47,600 to Magna Management Ltd. The total purchase price for these rights is $3,000,000. However, the Company does not have title to the property and, therefore, has only recorded payments made through May 31, 2014 toward the total purchase price in the financial statements.

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Capital Stock (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended				9 Months Ended				9 Months Ended		0 Months Ended
	May 31, 2014	May 31, 2013	May 31, 2014	May 31, 2013	Nov. 30, 2013	Aug. 31, 2013	May 31, 2014 Consulting Services Rendered [Member]	May 31, 2014 Restricted Stock [Member]	May 31, 2014 Series C convertible preferred stock [Member]	Aug. 31, 2013 Series C convertible preferred stock [Member]	May 31, 2014 Series C convertible preferred stock [Member] Convertible Debt [Member]	May 31, 2014 Series C convertible preferred stock [Member] Third Party Cash [Member]	Dec. 16, 2013 Series B Preferred Stock [Member]	May 31, 2014 Series B Preferred Stock [Member]	Aug. 31, 2013 Series B Preferred Stock [Member]	May 31, 2014 Series B Preferred Stock [Member] Consulting Contract [Member]
Per share amount												$ 2.50
Shares conversion amount			100,000
Common Stock, Shares Authorized	3,000,000,000		3,000,000,000		3,000,000,000	3,000,000,000
Common Stock, Par or Stated Value Per Share	$ 0.00001		$ 0.00001		$ 0.001	$ 0.00001
Stock issued for consulting agreement							700,000,000						100,000
Stock Issued During Period, Value, Issued for Services							$ 11,369
Common shares, fair value											8,345
Preferred stock, Issued									45,138	45,138	5,138	40,000		118,283	118,283	100,000
Preferred Stock, Value, Issued									1	0	25,689	100,000		1	0	21,613
Restricted common stock issued			1,250,000,000					1,250,000,000
Restricted common stock, value								12,500
Preferred Stock, Dividend Terms			1
Preferred stock dividends	$ 11,862	$ 0	$ 11,862	$ 0

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Nature of Operations and Ability to Continue as a Going Concern (Narrative) (Details) (USD $)	May 31, 2014
Accumulated losses	$ 814,869

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Subsequent Events

9 Months Ended

May 31, 2014

Subsequent Events [Text Block]

Note 8 - Subsequent Events

In accordance with ASC 855-10, management has evaluated subsequent events through the date the financial statements were issued.

On July 2, 2014 De Joya Griffith, LLC ("De Joya") officially resigned as the Company's independent registered public accounting firm effective immediately. Laredo Resources Corp. engaged MaloneBaily, LLP as the Company's independent registered public accounting firm for the year ended August 31, 2014, to be effective immediately as of July 2, 2014.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

May 31, 2014

Mineral Property option [Policy Text Block]

Mineral Property Option

The Company is primarily engaged in the acquisition, exploration and development of mineral properties.

Mineral property acquisition costs are capitalized in accordance with FASB ASC 930, “Extractive Activities-Mining,” when management has determined that probable future benefits consisting of a contribution to future cash inflows have been identified and adequate financial resources are available or are expected to be available as required to meet the terms of property acquisition and budgeted exploration and development expenditures. Mineral property acquisition costs are expensed as incurred if the criteria for capitalization are not met.

In the event that mineral property acquisition costs are paid with Company shares, those shares are recorded at the estimated fair value at the time the shares are due in accordance with the terms of the property agreements.

Mineral property exploration costs are expensed as incurred.

When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.

Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.

When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.

Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.

Asset Retirement Obligations [Policy Text Block]

Asset Retirement Obligations

Asset retirement obligations (“ARO”) associated with the retirement of a tangible long-lived asset, are recognized as liabilities in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated assets. The cost of tangible long-lived assets, including the initially recognized ARO, is amortized, such that the cost of the ARO is recognized over the useful life of the assets. The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted fair value is accreted to the expected settlement value.

The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate. As of May 31, 2014 the Company has determined no provision for ARO’s is required.

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Related Party Transactions (Narrative) (Details) (USD $)	9 Months Ended				0 Months Ended
	May 31, 2014	Aug. 31, 2013	May 31, 2014 CEO [Member]	May 31, 2014 CEO [Member] Management Services [Member]	Dec. 16, 2013 Series B Preferred Stock [Member]
Advances from related party	$ 185,022	$ 105,901	$ 79,121
Debt retired	12,500
Due to related party	20,000			56,700
Common stock, fair value	12,500
Restricted common stock issued	1,250,000,000
Accured interest	2,911
Notes payable, related party	7,500	20,000
Consulting agreement amount					$ 21,613
Stock issued for consulting agreement					100,000

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Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	May 31, 2014	May 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (296,147)	$ (209,504)
Adjustments to reconcile net loss to net cash used by operating activities
Non cash interest expense - capital contribution	0	25
Amortization expense	4,113	1,823
Stock-based compensation	32,983	0
Gain on settlement of debt	(17,344)	0
Changes in operating assets and liabilities:
Prepaid expenses	1,000	0
Accrued interest, related party	0	972
Accounts payables and accrued liabilities	71,295	137,143
Accounts payable, related party	0	66,436
Net cash used in operating activities	(204,100)	(3,105)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property option	(47,600)	0
Website development	0	(16,500)
Net cash used in investing activities	(47,600)	(16,500)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the sale of preferred stock	100,000	0
Proceeds from note payable	122,201	0
Proceeds from advances, related party	79,121	20,000
Net Cash Provided by Financing Activates	301,322	20,000
Net change in cash and cash equivalents	49,622	395
Cash and cash equivalents, beginning of period	692	368
Cash and cash equivalents, end of period	50,314	763
Non-cash transactions:
Issuance of common shares for debt	12,500	0
Issuance of preferred shares for debt	25,689	0
Gain from foreign exchange	0	2,381
Property option payment in accounts payable	20,000	0
Preferred stock dividend	11,862	0
Capital Contribution	$ 2,911	$ 0

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Notes Payable

9 Months Ended

May 31, 2014

Notes Payable [Text Block]

Note 5 - Notes Payable

As of May 31, 2014, the Company owes $122,201 to third parties. $48,030 of this amount is non-interest bearing and due on demand. The remaining $74,271 portion is non-interest bearing and is due on May 31, 2015.