Laredo Resources Corp.
7 story beats from 2012 to 2014
The story so far
The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.
shares on issue market cap (log scale)
20142.13bn shares · US$170.28bn market cap
- 5 Nov
Laredo voluntarily deregistered its common stock with the SEC, citing only 88 holders of record, ending its reporting obligations and closing out its public-company history without the Pony Mountain acquisition ever being reported as completed.
listing compliance notice
2.13bn shUS$170.28bn - 12 Sept
FINRA approved a drastic 1-for-500 reverse stock split, undoing the 2012 forward split and signaling continued instability in Laredo's share structure as the Pony Mountain plan struggled to gain traction.
other material event
2.13bn shUS$851.40bn
2013179m shares · US$53550.00bn market cap
- 30 Sept
Laredo amended its articles of incorporation to raise authorized common stock to 2 billion shares and create four new classes of preferred stock — a dilution-enabling step taken while building out the Pony Mountain deal (the company's own filing mislabeled this an Item 5.02 director/officer change; it is actually an Item 5.03 articles amendment).
bylaws amendment
179m shUS$53550.00bn - 11 Sept
Laredo formalized its 2012 preliminary agreement with Magna Management, taking on Magna's contractual buyer rights to the roughly 4,000-acre Pony Mountain Gold property in Montana under an August 2013 purchase contract with the underlying sellers.
other material event
179m shUS$17850.00bn
2012179m shares
- 5 Nov
Laredo signed a 60-day exclusive right to negotiate buying Magna Management Ltd.'s interest in the Pony Mountain Gold property in Montana — its first concrete lead on a new business after shedding its Nevada mineral claims.
other material event
179m sh - 31 Oct
Laredo's new management authorized a 50-for-1 forward stock split and increased authorized shares fiftyfold to 4.5 billion, a share-structure overhaul typical of preparing a cleaned-out shell company for a new business direction.
other material event
179m sh - 14 Sept
Laredo's founder Ruth Cruz Santos sold her controlling 2,000,000-share stake to Robert Gardner for $20,000 and resigned as officer and director, while Laredo simultaneously transferred its ABR mineral-claims subsidiary back to Santos in exchange for cancelling roughly $86,500 of loans she was owed — leaving Laredo an asset-free shell under entirely new management.
director officer appointment
179m sh